1. About ÃÛÌÒÓ°Ïñ
  2. Santander Acquisition of TSB

Santander Acquisition of TSB

Team of diverse businesspeople having a meeting in a transparent boardroom. Group of business professionals having a discussion during a briefing. Colleagues collaborating on a new project.

In July 2025 ÃÛÌÒÓ°Ïñ announced its intention to acquire TSB. Here are some helpful Q&As about the acquisition and any impact to customers. 

What does the acquisition relate to?
On 1 July 2025, Santander announced that it had reached an agreement to purchase TSB Banking Group. The acquisition is currently subject to regulatory approval. 
 
When will regulatory approval be received? 
We expect regulatory approval to be received during Q1 2026. 
 
When will the acquisition be fully completed? 
We expect this to take place towards the end of 2026. 
 
Are you going to be closing TSB branches as a result of the acquisition?
The deal is subject to regulatory approval and further information will be provided after this point.
 
What will happen to the TSB brand?
The deal is subject to regulatory approval and further information will be provided after this point.
 
What will happen to my TSB product, e.g. current account, savings account, mortgage?
There’s  no change to customers' products or services. The acquisition remains subject to regulatory approval and the deal itself is not expected to complete until late 2026. 
 
Can I use Santander branches as a TSB customer and vice versa?
No. The acquisition is still subject to regulatory approval and the deal itself is not expected to complete until the end of 2026. Until then, Santander and TSB remain 2 legally separate and regulated entities. 
 
Why has Santander acquired TSB?
This is an excellent opportunity to create the best bank for customers in the UK. 
 
When combined, the 2 banks would serve nearly 28 million retail and business customers nationwide and become the 3rd largest bank by personal account share and 4th largest for mortgage lending.
 
The deal accelerates ÃÛÌÒÓ°Ïñ's transformation, allowing the bank to enhance its customer proposition and invest more in innovative products and its digital offering, supported by the human touch across its branch footprint, including its new branch formats. In addition, the acquisition will provide TSB customers access to Santander’s international network and allow them to benefit from the group’s leading technology platforms.