Barclays is plotting a revival of high street banking as it is set to open new branches and bring back the ‘bank manager’ role.
Vim Maru, chief executive of Barclays UK, said the bank wanted to spread its ‘footprint’ through a branch expansion – and does not want customers to get ‘stuck in some chatbot’ when seeking help with their banking.
The change in direction comes as online app-based accounts, including Revolut and Monzo, continue to imprint on the current-account market.
Since 2018 more than 800 Barclays branches have been axed – leaving 206 still open around the UK, according to the company’s latest annual report.
Mr Maru joined Barclays in 2023 and took over UK operations of the bank in 2024, with the halt on branch closures being one of his ‘early decisions’ in order to prioritise personal banking.
The banker, who previously worked at Lloyds Banking Group and Santander, told The Times: ‘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.’
Since 2018 more than 800 Barclays branches have been axed – leaving 206 still open around the UK, according to the company’s latest annual report
The chief executive noted ‘physical presence’ is still ‘valued’ by customers, as he dismissed claims the branches were closed too quickly.
He added: ‘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.’
Mr Maru at the head of the effort by CS Venkatakrishnan, who is the Barclays chief executive, to have invested £30billion more in the UK from 2024 to this year.
This includes investment in AI to quicken the work and ‘maximise our colleages’ time talking to customers’.
Banks and building societies have closed 6,214 branches since January 2015, at a rate of around 53 each month, according to consumer champion Which?
Lloyds Banking Group announced its plans to close 136 high street branches in January last year.
It will shut 61 Lloyds, 61 Halifax and 14 Bank of Scotland sites between May this year and March 2026.
Lloyds blamed the decision to shut the branches on customers shifting away from banking in person to mobiles.
Vim Maru, chief executive of Barclays UK, said the bank wanted to spread its ‘footprint’ through a branch expansion – and does not want customers to get ‘stuck in some chatbot’ when seeking help with their banking
Mr Maru said in a statement: ‘Even in the 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 not looking to enhance and invest in our branch footprint alongside our contract centres and app as we continue to meet the changing preferences of our customers.’