Spanish banking giant Santander, has announced that it plans to cut down 1,900 jobs in its three British arms in the coming year.

Earlier this year, Europe's second-biggest bank, Santander has acquired two banks .

According to reports, the company’s third quarter net profit rose 4.3 per cent to 2.2 billion euros.

The company was on track for record full-year profit despite an abrupt economic slump at home and worldwide financial turbulence.