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Bank Santander has announced its Blackwood branch will be closing in June this year, while Caerphilly’s will be reducing its hours.

Blackwood has been named in a list of 95 branch closures by the Spanish bank – which first entered the UK market in 2004 with its takeover of former building society Abbey National. National media reports have speculated whether the bank is gearing up for a UK exit.

The High Street branch in Blackwood will close its doors for good on June 23, while the Caerphilly branch will have its hours reduced, opening only on Tuesdays and Thursdays between 9.30am to 3pm, from June 30.

Around 750 of its staff across the UK will be at risk of redundancy.

A spokesperson for Santander UK, said the closures were down to changing customer behaviour.

In a statement they said: “As a business, we must move with customers and balance our investment across all the places where we interact with customers, to deliver the very best for them now and in the future.

“Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers.”

The bank said it plans to roll out “community bankers” which can provide face-to-face help and support to customers.

Other banks which have closed local branches run similar schemes.

Santander is the latest in a longline of national banks closing its branches. Barclays, Halifax, HSBC, and Lloyds have all closed outlets across Caerphilly County Borough in recent years.

Reaction

Blackwood councillor Kevin Etheridge said: “We have already lost HSBC and Barclays, and this is another blow to the High Street. It really saddens me.”

Fellow councillor Nigel Dix said it was a “disappointing” decision by the bank.

He said: “Banks have an important role to play in the community, driving footfall to town centres, but we’ll now have another empty shop. This is not good for the town’s future.”

Peredur Owen Griffiths, Plaid Cymru Senedd Member for South Wales East, said: “This is disappointing news for the town and the surrounding area. Having worked in retail banking for much of my adult life, I know how important bank branches are to a community.

“I actually worked in this branch briefly and I know how busy and how important it was to the people of Blackwood. 

“Shoppers and nearby businesses rely on branches like this heavily and they are an anchor for much of the local economy.

“Bank branches are especially important to older people and people who, for whatever reason, struggle with IT and new technology.

“This closure – and the reduction of hours at the Caerphilly branch – is a retrograde move and I will be making representations to Santander over this.”