Completion took place on 30 April 2026, following regulatory approval from the Prudential Regulation Authority on 19 March 2026 and from the European Central Bank on 14 April 2026.

Santander UK now ranks as the third largest UK bank by personal current account balances and the fourth largest in the mortgage market, with the combined group serving close to 28 million retail and business customers.

Mahesh Aditya, CEO, Santander UK, said: “This is excellent news for UK banking with the acquisition representing the single largest investment in the sector for over 15 years. Bringing TSB into the Santander group strengthens competitiveness in the market and is an important step in creating the best bank for customers.

“As we enter the next phase, we remain focused on a seamless transition, and we look forward to welcoming TSB customers as we become one of the most substantial and competitive banks in the UK – a bank positioned for sustainable growth, long-term value, and genuine differentiation.”

Nicola Bannister, CEO, TSB, added: “Today marks a significant new chapter for TSB as we become part of Santander. I look forward to leading TSB as we combine the very best of these two great businesses to offer even better banking for our customers.”