Barclays 'to close 100 branches' in slump-hit Spain | Business

Barclays 'to close 100 branches' in slump-hit Spain | Business: "Barclays plans to shut more than 100 branches in recession-struck Spain as chief executive Bob Diamond refocuses its business there onto wealthier, more profitable customers.

According to local reports, the move will cut nearly a fifth of the bank's branches in the country.

Barclays is Spain's largest foreign bank with more than 590 branches and 920,000 customers. Diamond said he would cut underperforming businesses unable to deliver decent returns and there would be 'no sacred cows' after Barclays' retail and"

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