Spanish banking group Santander plans to kill off the TSB high street brand name ​a year after announcing its acquisition of Banco Sabadell’s UK ‌business, the Financial Times reported on Wednesday.

The combined business will ​operate as Santander UK once integration is ​complete, the report said.

In February, TSB reported a statutory profit before tax of £350.4 million for 2025, up 20.7% on 2024, calling 2025 “an extraordinary year.”

Sabadell Group agreed last July to sell TSB to Santander Group for an eventual sale price estimated at £2.9 billion, subject to regulatory approval. The transaction is expected to complete in 2026.

TSB CEO Marc Armengol said: “2025 was an extraordinary year for TSB. Our record financial performance was underpinned by the committed, collective effort of my colleagues: stepping up to ensure we stay truly competitive, deliver money confidence for our customers, act responsibly and run the bank more efficiently.”

TSB has five million customers and around 4,700 staff.

TSB said income increased in 2025 by 3.6% year-on-year to £1.183 billion in 2025 “reflecting higher structural hedge income from a stable base of deposit balances.”

On May 1, Santander UK said it completed its £2.9 billion cash acquisition of TSB, following regulatory approval from the UK’s Prudential Regulation Authority and the European Central Bank on March 19, 2026, and April 14, 2026, respectively. Additionally, changes to the TSB board were announced.

David Oldfield will join the board as chair, taking over from Nick Prettejohn. Since December 2024, Oldfield has served as a non-executive director on the Santander UK board and also chairs the board risk committees.

TSB CEO Nicola Bannister, TSB CFO Alison Straszewski, and Santander UK CEO Mahesh Aditya will also sit on the TSB board, and be joined by new non-executive directors Michelle Hinchliffe, Alison Webdale and José Doncel. Existing independent non-executive directors Morten Friis, Judith Eden and Libby Chambers will remain on the TSB board.