Santander to close one of its Shrewsbury branches

The bank, next to Waterstones on High Street, is set to close on December 5.

But other branches in Shropshire, on St Mary's Street in Shrewsbury as well as in Telford and Oswestry, are to remain open.

The move by Santander will put more than 1,200 jobs at risk, following a slump in the number of transactions it handles.

The bank said it is consulting with unions and will seek to find alternative roles for 1,270 employees affected by the closures. It expects to redeploy about a third across the group.

Following the closures, Santander will retain a network of 614 branches with its customers also having the option to bank using the more than 11,000 Post Office branches across the UK.

The move comes as the number of transactions carried out at Santander branches fell by 23 per cent over the past three years, while transactions online and on mobile phones have soared by 99 per cent.

The bank said that it will also spend £55 million refurbishing 100 branches over the next two years, which will include a "focus on personal service, convenience and community engagement".

Susan Allen, head of retail and business banking at Santander, said: "The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels.

"As a result, we have had to take some very difficult decisions over our less visited branches, and those where we have other branches in close proximity.

"We will support customers of closing branches to find alternative ways to bank with us that best suit their individual needs. We are also working alongside our unions to support colleagues through these changes and to find alternative roles for those impacted wherever possible."

She added that the banks expects the size of its branch network to "remain stable for the foreseeable future."