Barclays Bank plc is one of the most
well known of the high street banks and has been in banking in the
UK for over 300 years. However recently Barclays have been
the centre of scandal for closing down many of their high street
branches leaving communities without a local branch for miles.
Why are they doing this? Some say this is because they
are now focusing on the lucrative fees from providing services to
multinational corporations and financial institutions instead of
consumers like me and you.
By the middle of last year Barclays had 8 million customer accounts
(or 'Retail banking customers') and 1,945 branches. If Barclays
move more towards satisfying large businesses at the expense of the
person with a current account then a large number of these accounts
may be under threat. Barclays also generates a substantial
amount of revenue from holders of the Barlaycard credit card (some
In 1999, Barclays operating profit was up 49% to £2.9 Billion and
the companays turnover was up 13% to £8,4 Billion. At
30th June 1999 Barclays employed 77,400 people world-wide including
57,800 in the UK.
Barclays has a market capitalisation of around £23 Billion putting
them in the Top 15 in the FTSE (Financial Times Share Index).