<ul data-eligibleForWebStory="true"><li>Santander is set to acquire TSB for £2.65 billion, potentially leading to job losses and branch closures in the combined entity.</li><li>The acquisition is a strategic move for Santander, making it the third largest UK bank in terms of personal current account deposits if approved by Sabadell's shareholders.</li><li>The deal could result in the disappearance of the TSB brand, impacting its 5 million customers, 175 branches, and 5,000 staff.</li><li>TSB's history includes being hived off from Lloyds in 2013, experiencing an IT meltdown in 2018, and now facing its third major ownership change in 12 years.</li></ul>

Santander to buy TSB for £2.65bn amid fears of branch closures and job losses

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