UK banking giant closing 52 branches in 2025 rules out bidding for TSB | UK | News
Natwest, one of the Largest Street of England, confirmed that he would not bid for the opponent bank TSB and would not narrow the potential suitors for the Spanish retail loan. Since the decision was preparing to close Natwest’s branches in 2025 throughout England, it is part of a wider industrial shift towards digital banking.
Natwest Group confirmed plans to close 52 of the 52 street branches by June 2025 and pointed to a shift towards digital banking. Earlier this year, the bank closed 48 and brought the total to more than 100 branches in the last two years.
With the TSB proposal process approved by individuals familiar with the issue, withdrawal eliminates a larger competitor from a competitive sales expected to receive interest from the largest banks of the UK.
Natwest, who returned to full private property in May after years of government control after the 2008 financial crisis, is said to provide a very selective approach to acquisitions.
The offers for TSB, owned by the Spanish group Banco Sabadell, until June 27th.
Although both have had negotiations with Sabadell before, past negotiations have been reported to have fallen due to disagreements about the price.
TSB, which served about five million British customers and reported £ 285 million in the profit before the tax last year, saw that Sabadell was thrown into uncertainty in the midst of attempts to eliminate a € 11 billion from the Spanish rival BBVA.
Selling the retail arm of the UK can strengthen Sabadell’s position and open the value for shareholders.
Despite speculation that an agreement would continue, Natwest’s General Manager Paul Thwaite reiterated that the Bank would take into account the purchases that only meet the “very high financial and operational bar”.
He said the bank focused on disciplined growth instead of chasing the scale for its own good.
TSB’s checkered history includes a high -profile IT melting in 2018 following its migration from Lloyds Banking Group Systems, which locks two million customers from their accounts and leads to a 49 million regulatory funding.
Meanwhile, Natwest continues to facilitate its physical presence with dozens of branches in 2025. Like most of its peers, customers respond to the decreasing face -to -face visits as they go to mobile and online services.
Both Natwest and Sabadell refused to make more comments about sales.
