Barclays signals more branch closures coming as it posts record £6.9bn profits

Barclays has warned it may move to accelerate its transformation programme in the UK before the year’s end while reporting record group profits for the first nine months of 2021.

It revealed that “structural cost actions” were on the way in its branch-based UK arm as the sector continues to shrink high street sites in favour of shifting customers towards online banking – a trend aided by the COVID-19 pandemic.

The move follows a new round of branch closures at rival Lloyds just this week.

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