Santander is to close a fifth of its branches in the UK as part of an overhaul of its network, putting 750 jobs at risk.

The retail bank said it would shut 95 out of its 444 high street outlets, and reduce the services or hours at a further 50-plus branches, by June to “better serve the changing needs of customers”.

The lender, which said in January that it was not planning any permanent closures this year, said it was also changing 18 branches to become “counter-free” and a further 36 would operate reduced hours.

“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,” a spokesperson for Santander UK said. “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.”

The bank said that in places where branches were being shut it would provide new “community bankers” who would provide face-to-face support for customers. These community bankers will visit weekly, as well as attending local banking hubs.

Santander said there had been a “rapid movement” of customers shifting their banking online, with a 63% increase in digital transactions since 2019.

Since 2019, financial transactions completed in branches have reduced by 61% in the same period.

More than a fifth of current accounts are now opened digitally and the bank has seen a 56% increase in mobile banking users.

“As customer behaviour changes, we are ensuring that our branches remain fit for the future,” the spokesperson said. “Our new combination of full-service branches, alongside Work Cafés, counter-free branches and reduced-hours branches, aims to provide the right balance between digital banking and face-to-face money management and guidance.”

Santander said that after the restructure, 93% of the UK population would continue to be within 10 miles of one of its branches.