No decision yet on future of Elgin, Buckie and Inverness TSB branches after Santander deal
No decision has been made on the future of TSB branches, including those in Moray, after shareholders approved the sale of the bank to Banco Santander, which owns Santander UK.
Investors of Sabadell, the owner of TSB, voted in favour of the £2.65 billion sale on August 6.
The deal is not yet complete and is still subject to regulatory approvals which are anticipated to be completed in early 2026.
TSB maintains that it is business as usual for its customers but the sale raises questions for the future of many of its branches including those in Elgin, Buckie and Inverness.
Santander say they have made no decisions yet but added that it “intends to integrate TSB into the Santander UK group”.
This could see former TSB branches operate under the Santander name.
However, where there is both a TSB and a Santander branch in the same location, Santander could take the decision to close one of them.
There is one Santander branch in Elgin.
Meanwhile, the TSB branch and Santander branch in Inverness are in close proximity to one another.
A spokesperson for Santander said: "We welcome the decision of Sabadell shareholders to approve the acquisition of TSB, an important milestone in the process.
“TSB is an outstanding franchise and we are confident that our combined business will offer an enhanced proposition, helping us to become the best bank for customers in the UK, while also creating significant value for shareholders.”