AMBITIONS to become a nationwide bank in Spain have been aborted after Barclays pulls out of large parts of the country, it can be revealed.
A spokesman said; “We are adapting to the changing habits of our premier customers, we will focus on changing our offerings using technology and providing what they need.”
The company prides itself on product innovation, and believes that local branches are not the future of their operation.
The global conglomerate confirmed to the Olive Press last night that it is to close 18 branches in Andalucia.
It also revealed that it was to slash an incredible 35% of its branches across the country, with over 1,000 job losses.
Insisting that it was focusing on its ‘premier clients needs’, it will only keep branches in major cities and a few key towns.
The move is bound to outrage thousands of expats, many who have relied on their local branches for decades.
One client said: “I am upset as they have shut my local branch in Sabanillas and we will now have to travel further to find a bank.”
Barclays has been present in Spain for over 37 years, with 430 offices nationwide, serving nearly a million customers.