BANKING
Barclays to close more UK branches in cost-cutting plan
Barclays closures add to toll of vanishing British bank branches
London — Barclays plans to close about 54 branches by the end of 2017 in an effort to cut costs, further reducing access to banking services in parts of Britain. The bank, with other British lenders, is cutting back its network as customers turn to mobile banking. Barclays, which told customers about the planned closures in recent weeks, still has about 1,300 branches across the country. The number of branches operated by the major British banking groups has halved in the past 20 years. After political pressure, a new rule was set in 2015 that requires banks to assess the effect of a branch closure on local communities. Branch closures in Britain are disproportionately affecting lowest-income areas, taking bricks-and-mortar services away from communities, where they are needed most. "The number of physical Barclays branches will reduce overall, but our branch network and the colleagues who work in them remain a vital part of our offering," a Barclays spokeswoman said. The Barclays b...
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