Santander has launched a new charitable foundation which combines the grantmaking activities of Abbey, Alliance & Leicester and Bradford & Bingley and will make £3.3m available to UK charities this year.

The Santander Foundation will no longer fund regeneration projects but will continue to support education, training and financial capability projects which aim to help disadvantaged people better understand how to manage their money.

In the nine regions of the United Kingdom where Santander has a significant presence, employee-led Community Partnership Groups are involved in the grant-making process.

The groups at present consist of Santander staff, pensioners and a community foundation such as the local Council for Voluntary Services, and charities in such areas can expect to receive a maximum grant of £30,000 – up from 50 per cent last year.

The nine regions currently include the London Borough of Camden, Milton Keynes, Leicestershire and Rutland, South Yorkshire, West Yorkshire, Teesside, Merseyside, Greater Glasgow and Northern Ireland.

Following the foundation’s relaunch, Alan Eagle, manager of the Santander Foundation, said: “This is a really exciting and innovative programme, with larger grants and a greater focus on the local community. At Santander, we are committed to investing in the communities in which we operate.”

For charities outside of the nine regions, one-off grants to help with running costs, salaries and training materials are also available, with the maximum available rising by 150 per cent from £4,000 to £10,000.

With last year’s scheme gaining over 10,000 requests and more than 250-260 grants given, Eagle hopes that the relaunch will be more than just a name-change.

Eagle said the scheme would give charities the chance to apply for funding without the stigma of trying to come up with something new. “As long as it works,” said Eagle, “it has a chance.”