Stowmarket branch of Santander, in Market Place, set to close in July
Stowmarket's branch of Santander is earmarked to close later this year, it was announced today.
The Market Place is set to shut on July 25 as part of a proposed branch network restructure, which would see a further 139 branches across the country close.
Santander said it would try to find alternative roles for the 1,270 colleagues nationwide affected and expected to be able to redeploy around a third.
Susan Allen, Santander head of retail and business banking, 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."
Newmarket Santander is to also set to close this summer, on May 30.
The bank says its future branch network would be made up of a combination of larger branches offering improved community facilities and smaller branches using the latest technology. A nationwide network of 614 branches would remain following the proposed changes.