Santander's plan to buy TSB for 2.65 billion pounds ($3.61 billion) and boost its position in the UK came together only a few weeks ago, after the Spanish bank had been considering a possible exit from Britain,

People are fearing that more banks may close in Cambridgeshire as banking giant Santander is on the brink of buying rival TSB. Analysis of company data shows that there are at least 70 towns and city centres around the UK where both banks currently operate branches less than a mile apart.

TSB has written to customers today (July 3) to reassure them it is ‘business as usual’ after its owners struck a deal to sell the bank to Santander.