The all-cash transaction will make the enlarged company the U.K.'s third-largest lender by some measures.

The pending sale of the branches in eastern Pennsylvania to a central New York-based bank comes amid Santander's planned closure of 18 branches this summer and its continued focus on building out a national digital bank.

While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."

The banking arm of Spanish giant Banco Santander plans to close about 4.5% of its branch network in the United States, according to regulatory filings.

The U.S. arm of Spanish banking giant Banco Santander is offering a high-yield savings account through its digital bank, Openbank, to eligible Verizon customers, a move that will introduce Santander to millions of potential new customers.

Christiana Riley, regional head of Banco Santander's North America region, has succeeded Tim Wennes as CEO of Santander U.S.

Openbank, which has operated in parts of Europe for years, should help the Spanish bank to fund its U.S. auto lending business, executives said.

The Spanish bank recorded its best efficiency ratio in 15 years, Chairwoman Ana Botin said in its quarterly earnings statement.

An iOS 18 update will enable a Tap to Pay-like system for peer-to-peer payments. Meanwhile, will BNPL rules be different in Australia than in the U.S.?

The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.