Barclays is shamed for closing most branches

Barclays has been named and shamed because the financial institution planning to shut most branches this 12 months.

The High Street lender goals to close 68 branches – leaving simply 244 by the tip of 2024. 

It plans to axe one other six in 2025, that means that after the closures Barclays may have shut 83 per cent of its branches in a decade.

In complete, greater than 60 per cent of the ten,000 financial institution branches that had been open in 2015 may have shut by the tip of 2024, in line with The Mail on Sunday’s evaluation of Which? figures.

That quantities to six,047 closures over the previous 9 years, with simply 3,838 retailers nonetheless open.

Named and shamed: Barclays goals to close 68 branches – leaving simply 244 by the tip of 2024

Observers stated the closures have an effect on many shoppers – particularly these making use of for mortgages or coping with bereavement. Small corporations that depend on money, and individuals who don’t use on-line banking are additionally reduce off when their department closes.

Independent client rights professional Martyn James stated: ‘There isn’t any substitute for face-to-face monetary recommendation – significantly with very important companies like mortgages. The decimation of the community doubtlessly leaves numerous folks on the mercy of insurance policies and offers they do not totally perceive. This doesn’t bode properly.’

Lloyds plans to shut 56 branches this 12 months, leaving it with 523 after closing 60 per cent of its community in a decade.

 Halifax, owned by Lloyds, will shut 42, leaving it with 417. The former constructing society will by then have closed 38 per cent of the 667 branches it had 9 years in the past.

NatWest will shut 21 retailers, taking its complete to 439.