A MAJOR banking company have confirmed it will be returning to a Gwent town with a banking hub. 

Barclays Bank announced it was planning to close its branch in Risca in Caerphilly county borough today (Friday, May 17) back in May last year. 

Explaining the reasons behind the decision to close at the time, Barclays released an information booklet that revealed only 46 customers use the branch regularly as the only way to do their banking and 32 per cent of this branch’s customers have used nearby branches in the last 12 months.

According to further information provided by the bank, 86 per cent of customers who use the Risca branch also accessed services online.

Despite the closure, which will happen from midday, the company has confirmed it will be maintaining a presence in the town through a banking hub, which will be built on the site of the former branch. 

The hub is set to take around 12-16 weeks to complete, and in the meantime, Barclays has confirmed to local councillor for the ward Bob Owen that they will be operating out of Risca Library every Monday to assist those with "personal banking queries".

This service is expected to remain in place while the new hub is built. The hub will be operated by LINK, operators of the UK's cash machine network, and will be a space for many major banking companies who no longer have a main branch in the area to help their customers face to face. 

The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.

There will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy.

Cllr Bob Owen placed on record his thanks to Barclays and welcomed the new era of banking in Risca.

The news of Barclays' continued presence and confirmation of when building work is likely to be completed on the hub has been welcomed by the majority of residents. 

One person said that the hub and library service "will be ideal for the older generation" as there had been widespread concerns about how those without internet or easy travel access would be able to do their banking. 

Others shared relief, saying this is "good to know" and that it was "great news" to hear that other banking companies would also be returning to Risca.