Barclays opening more branches on high streets – Daily Business

Barclays will reverse its closure programme

Barclays intends to reverse the banking sector’s flight from the high street by opening more branches and re-introducing the “local bank manager”.

With more banks entering the digital space and existing players investing heavily in AI and other virtual tools, Vim Maru, chief executive of Barclays UK, wants at least a partial return to face-to-face banking.

“What we’re trying to do is something that allows us to differentiate in front of our customers,” Mr Maru told The Sunday Times. “Of course we’re going to be great in digital — but we’re going to be there for you when you need some help and support.

“You’re not going to be stuck in some chatbot trying to get out of the loop and trying to speak to someone.”

One of his first decisions after taking up the job last year was to pause branch closures, and he now wants to add to its current network of 206.

“I truly believe that the combination of great digital and great human touch is the future of banking,” he said.

His comments come after Barclays has gone faster and further than its rivals in closing branches. Since 2019, it has shut almost 80%.

All banks say they are responding the customer demand to do their banking online, but many, particularly those in rural areas, are angry that they have no local banks, even in small towns. It is a particular problem for small traders who handle a lot of cash.

Barclays is targeting personal banking customers and also innovative businesses, which “love a bit of human touch”, added Mr Maru.

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