Before the end of the month, Barclays will have opened 95 new branches in Spain this year, adding to the 235 that the group is planning to open in Italy (80), Portugal (65) and France (90) in 2008 as a measure to accelerate growth in those markets. In 180 days, the bank’s distribution network in Spain has grown by 20%.
In order to cater for the bank’s most ambitious expansion plan in Spain (the equivalent of opening a new branch every other day since January 2008), Barclays has increased its workforce by 300 professionals of whom at least three have been allocated to every new branch. The majority of the openings (84%) have taken place in the Madrid, Catalonian, Balearic and eastern coast regions of Spain.
Throughout the first three months following the opening of each branch, the bank has been offering new clients a range of welcome products including a ‘Welcome Mortgage’, a ‘Welcome Car Loan’ and, for businesses and self-employed professionals, a ‘Welcome Finance Plan’ and a ‘Welcome Commercial Discount’ for all their finance and leasing needs. For clients that are thinking of buying a home in Spain, the ‘Welcome Mortgage’ is especially attractive as it offers up to 35 years repayment term at a rate of Euribor plus 0% for the first year and Euribor plus 0.35% thereafter, making it one of the most competitive mortgages in the market. In addition the bank has been developing a series of micro campaigns to promote the new branches, some of which included buying customers a breakfast and a newspaper.
Barclays has been serving the British community in Spain for almost 35 years. They now have over 580 branches nationwide, many of which are strategically located for expatriates, and the majority of which have English-speaking advisors to make things that much easier for their customers. Barclays offers an extensive range of products and services specifically for this market sector, all being available in English: currents accounts, credit cards, mortgages, remortgages, telephone and internet services, and more besides for a complete banking service whilst in Spain.
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 143,000 people. Barclays moves, lends, invests and protects money for over 38 million customers and clients worldwide.