Santander has agreed to buy TSB as part of a takeover deal worth £2.65billion. 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, however, the deal is expected to be completed in the first three months of 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?

Spain's Santander on Tuesday said it had reached an agreement to acquire smaller rival Sabadell's British unit TSB for initially 2.65 billion pounds ($3.64 billion) in an all-cash deal, subject to approval by Sabadell shareholders.