End of an era for Bradford & Bingley

The Spanish bank will permanently replace both brands, a move which will involve rebranding more than 1,000 branches. The rebranding is due to complete by the end of the month and Alliance & Leicester will follow later this year.

The move signals the end of B&B’s 150-year presence on the high street, although its loan book remains in state ownership and is unaffected by the rebranding.

Santander bought B&B’s 197 branches and 141 agencies, plus its 20bn savings book, for 612m in October 2008 when the bank’s loan book was nationalised. Santander is spending 12m on the rebranding, although it aims to save 180m from integrating the three businesses. About 1,900 jobs have already gone as part of its efforts to combine the acquired banks.