Barclays is charting a decisive U-turn on the high street, with plans to open new branches across the country and reinstate the once-familiar “bank manager” job title, a move that signals a broader rethink of how Britain’s traditional lenders compete in an increasingly digital age.
Vim Maru, who has led Barclays UK since 2024, told Business Matters that the bank intended to grow its branch network beyond the current 206 outlets, having already paused a closure programme that saw roughly 80 per cent of its branches shut since 2019. One of his first acts after taking charge was to halt the cull, and he is now pressing ahead with expansion, though he declined to put a precise figure on how many new sites would open.
The shift comes as digital-only challengers such as Revolut and Wise make increasingly aggressive moves into the current-account market, threatening the established banks’ grip on everyday consumer banking. Rather than trying to outpace them on technology alone, Maru is placing his chips on a blend of slick digital services and genuine, in-person support, what he described as the winning formula for modern banking.
He was characteristically blunt about the shortcomings of purely automated customer service. Barclays customers, he insisted, would not find themselves trapped in an endless loop with a chatbot when they needed real help. The bank has also quietly reintroduced traditional role titles, so that customers walking through the door can once again ask to speak to the branch or bank manager.
Maru stopped short of conceding that Barclays had been too aggressive in its earlier round of closures, but acknowledged that the bank needed to reassess how it served its customers every few years. The new branches will sit alongside the shared banking hubs operated through the Post Office, rather than replace them.
Beyond the branch network, Barclays is pursuing growth on several fronts. The bank reported a record number of mortgage applications last year, with processing times slashed from 45 minutes to just 15 thanks to technology improvements that have proved popular with brokers. Its acquisition of the Tesco credit card business in 2024 and Kensington Mortgages, which has doubled in size since Barclays bought it in May 2023, have broadened the division’s reach considerably.
Artificial intelligence is also being deployed to streamline internal processes, though Maru was cautious about the workforce implications. He drew a parallel with the introduction of ATMs, noting that while the machines were expected to eliminate cashier roles, the subsequent rise in fraud and scams meant staff were redeployed rather than made redundant.
On the broader economy, Maru offered a measured reading from the bank’s unique vantage point. Consumer spending has shown resilience, with hospitality holding up well despite a period of heightened anxiety following the outbreak of the Iran conflict. In the opening days of the war, there was a noticeable surge in fuel purchases as motorists rushed to fill up ahead of expected price rises, though spending patterns quickly normalised.
With Barclays chief executive CS Venkatakrishnan having committed to investing £30 billion more in the UK between 2024 and this year, and despite persistent speculation about possible acquisitions of the likes of Santander UK or TSB, Maru said his priority remained organic growth. The bank, he maintained, already had strong momentum — and a renewed high street presence to match.
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Barclays bets on the high street once more with new branches and the return of the bank manager