Barclays plans to reopen branches and hire bank managers
Barclays is reportedly planning to return to the high street by opening new branches and bringing back “bank managers,” with CEO Vim Maru expressing a desire for customers to avoid being “stuck in some chatbot” when seeking assistance, reports BritPanorama.
Since 2018, more than 800 Barclays branches have closed, leaving 206 still operating across the UK, according to the company’s latest annual report. Maru, who joined Barclays in 2023 and took over the UK arm in 2024, indicated that one of his “early decisions” was to pause further closures and expand again.
In an interview, Maru stated, “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.”
While he does not believe branches were shut too quickly, he acknowledged that many customers still “value physical presence.” 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.”
This move towards traditional banking comes as digital-only banks, like Revolut, have begun to enter the current account market in the UK.
In a statement to the Press Association, Maru remarked, “Even in a digital world, many customers still value physical presence and the ability to talk to our colleagues when they need support.” He also noted adjustments made in response to changes in where people work, live, and shop over recent years, including relocating branches and extending opening hours by 33,500 hours annually. Maru concluded, “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.”
This strategic pivot by Barclays is emblematic of a broader trend in the banking sector, reflecting a growing recognition of customer preferences for personal support amid an evolving digital landscape. As traditional banks adapt to competitive pressures, their re-engagement with physical branches could play a significant role in shaping future customer relationships.
