Santander has announced plans to close 95 branches across the UK, including in Peterhead and Turriff.

The bank's Aberdeen branch on Union Street though has escaped the cut.

The closures, part of a major restructuring effort, will put 750 employees at risk of redundancy, The Sun reports.

Santander described the decision to shut the branches as "difficult", but claimed the move was intended to ensure the business is "fit for the future".

The Peterhead branch is scheduled to close for good on June 16, while the date of the Turriff closure has still to be confirmed.

The Sun reports a spokesperson for Santander said: "As customer behaviour changes, we are ensuring that our branches remain fit for the future...

"As a business, we must move with customers and balance our investment across all the places where we interact with customers, to deliver the very best for them now and in the future.   

“Closing a branch is always a very difficult decision and we spend a great deal of time assessing where and when we do this and how to minimise the impact it may have on our customers.

"However, we believe that the introduction of our new Community Bankers and the exciting plans we have for our remaining network of 349 branches and Work Cafes, alongside the rapid and innovative improvements to our award-winning mobile banking app, will provide the right balance of digital banking and human interaction when required."

FTSE 100

The UK's flagship share index, the FTSE 100, was down 28-points at 8,680 shortly after opening this morning.

Brent crude oil futures were down 0.16%, trading at $70.28 a barrel.

Companies reporting today

Essentra - Full Year Results

M&G* - Full Year Results

Prudential* - Full Year Results

Softcat - Half Year Results

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