Two Santander Bank branches in Montgomery County have closed recently as the subsidiary of Spain’s Santander Group continues to focus on trimming its retail footprint, writes Jeff Blumenthal for the Philadelphia Business Journal.
The Boston-based bank shuttered the branches at 800 E. Willow Grove Ave in Wyndmoor and 618 Germantown Pike in Lafayette Hill on July 21.
Three additional Philadelphia-area branches were closed on the same date, leaving the bank with 62 branches in the region.
- 8623 Germantown Avenue, Chestnut Hill
- 6740 Germantown Avenue, Mount Airy
- 6836 Torresdale Avenue, Tacony section, Northeast Philadelphia
So far this year, Santander has closed 50 branches in the United States. This follows the closure of another ten locations last year. More closures are expected soon.
Earlier this year, the company said in a statement that preferences and behaviors of its customers were changing and “we are listening and responding by adjusting our business model and delivery to better serve our customers, which includes consolidating branches while also opening new ones, increasing our investment in the digital, service center and ATM capabilities, and testing new products and services.”
The bank which has $89 billion in assets has opened only one branch so far this year.
Read more about Santander in the Philadelphia Business Journal.