NWG - Barclays said to shutter 15 more branches over next few months
2023-05-15 09:34:54 ET
Barclays ( NYSE: BCS ) ( OTCPK:BCLYF ) said it will shut down 12 branches in England, one in Wales and two in Scotland as the U.K.-headquartered bank responds to a decrease in in-person demand, Yahoo Finance reported Monday.
In 2022, the lender said it would shutter 132 branches, many of which have since shut down, the article pointed out.
The reason for the closures was said to be in response to how the Covid-19 pandemic has accelerated customers' use of online banking and thus hindered branch visits.
Barclays ( BCS ) did not immediately respond to Seeking Alpha's request for comment.
Other U.K. banks, including NatWest Group ( NWG ) ( OTCPK:RBSPF ) and Lloyds Banking Group ( LYG ) ( OTCPK:LLDTF ) are also in the process of closing branches, Yahoo Finance said .
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Barclays said to shutter 15 more branches over next few months