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Barclays Bank logo

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 10million people).

In 1999, Barclays operating profit was up 49% to 2.9 Billion and the companay’s 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).


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