Barclays is set to U-turn on its bank branch closure plans in a major win for the financial institution's 20 million customers and Britain's high streets.
Vim Maru, the bank's chief executive, has cited plans to open more branches in the years ahead and return the "bank manager" job title.
This comes amid the widespread trend of bank branch closures in recent years, with 6,000 locations shutting down between 2015 and 2024, according to consumer champion Which?.
Research suggests that Barclays alone has reduced its bank branch network by nearly 80 per cent while accelerating its digital banking services
Barclays is set to bolster its number of bank branches
| GETTYSpeaking to The Times, Mr Maru claimed one of his “early decisions” was to halt branch closures and shared plans to increase the current number of Barclays locations.
He explained: "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."
Mr Maru, who became the high street bank's chief executive in 2024, pledged to maintain a "combination of great digital touch and great human touch" in Barclays' services.
Bank branch closures are continuing at an 'alarming rate', according to Which? | GETTY LATEST DEVELOPMENTS
Britain's high streets have struggled in recent years | PADespite promising more branches, the bank's boss failed to admit whether Barclays had shut down previous locations too quickly.
He added: "We need to stop every couple of years and ask ourselves ‘how do we best serve our customers?’ That’s what we’ve chosen to do.
"We’ve also gone back to role names that explain what people do — so 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."
According to the Barclays chief, any new branches would be extra locations as opposed to being part of the shared banking hubs operated by the Post Office.
Barclays chief executive Vim Maru
|BARCLAYS
He said the new branches, which he did not quantify, would be in addition to the shared banking hubs operated by the Post Office to provide services for the big banks in one location.
It should be noted that Mr Maru did not provide any names of potential new Barclays sites or an exact number for how many new locations will be opened.
Alastair Douglas, the CEO of Totally Money, previously said: "Banks have a duty of care to support their customers, and even though digital services are becoming increasingly popular, the real concern is for the elderly and vulnerable – many of whom rely on both cash and real-life support.
"If you’re worried about your branch closing, then visit your bank's website - they'll have details about the closest available branch, or local banking hubs. Now might also be a good time to think about switching to a different provider."