Santander might have hoped its takeover of TSB would make waves across the banking industry, but analysts have dubbed it a more modest splash. The deal, which is set to be worth £2.9bn when closed in 2026,

Santander is set to buy rival TSB for £2.65 billion. What does it mean for customers, and could we see the TSB brand disappear from the high street?

Santander has agreed to buy TSB as part of a takeover deal worth £2.65bn. The banking giant is set to take on all of TSB’s five million customers, which includes current accounts, loans, savings, and mortgages. It is still in its early stages, but the deal is expected to be completed in the first three months of 2026.