Barclays boss Vim Maru is bringing back branch managers and expanding physical stores after the company previously shut hundreds across the UK
Barclays is bringing back the bank manager in a major bid to reopen high-street branches across Britain. In a massive U-turn, bosses have confirmed they will restore traditional banking to provide customers with a face-to-face service once again.
The move follows years of frustration from Brits annoyed with useless chatbots while trying to fix online banking blunders. The dramatic strategy shift comes under chief executive Vim Maru, who joined the company in 2023.
After Barclays previously shuttered 800 outlets nationwide, Mr Maru has now frozen closures to revive physical stores in communities left without personal banking.
The bank is now fighting to hold its ground as digital rivals like Monzo and Revolut dominate the current account market.
While thousands of branches have vanished over the last decade, Barclays’ retreat has left just 206 branches operational across the UK.
Varu revealed he’s planning to increase the number of physical branches after telling The Times that customers “still value physical presence”.
He 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 branch manager or bank manager is back. Most customers come in and they want to talk to the bank manager from time to time.”
In a statement, 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.”
It follows banking giant Lloyds shuttering 71 branches nationwide at the beginning of the year.
Financial institutions have attributed the wave of closures to evolving customer behaviour, with millions now opting to handle their finances digitally rather than visiting branches.
A representative for Lloyds Banking Group said that over 21 million customers now depend on mobile and online banking, contending that fewer people are utilising physical branches.
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