Barclays has closed more than 800 branches since 2018
Barclays has signalled a major about-turn in its high street strategy. It is set to make a comeback on the high street by launching new branches and reinstating “bank managers”, according to a report in The Times.
Vim Maru, chief executive officer at Barclays UK, told the newspaper he doesn’t want customers to end up “stuck in some chatbot” when they require assistance. Since 2018, more than 800 Barclays branches have shut their doors – leaving just 206 still operating across the UK, according to the bank’s most recent annual report.
Mr Maru joined Barclays in 2023 and took charge of the UK division in 2024. He revealed that one of his “early decisions” was to halt the closures, with plans to expand the network once again.
Speaking to the newspaper, Mr Maru said: “What we’re trying to do is something that allows us to differentiate in front of our customers. 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.”
The chief executive stops short of admitting that branches were shut down too hastily, but has acknowledged that many customers still “value physical presence”.
“The branch manager or bank manager is back. Most customers come in and they want to talk to the bank manager from time to time,” said Mr Maru.
The shift back towards traditional banking arrives as formerly digital-only banks, including Revolut, have begun making inroads into the UK current account market.
In a statement to the Press Association, Mr Maru said: “Even in a digital world, many customers still value physical presence and the ability to talk to our colleagues when they need support.
“In response to changes to where people work, live and shop over the last few years, we have relocated some of our branches and extended branch opening hours, adding 33,500 hours of in-branch availability per year.
“We are now looking to enhance and invest in our branch footprint alongside our contact centres and app as we continue to meet the changing preferences of our customers.”
