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100 new bank branches this year

13/11/2009

The number of bank branches has increased for the eighth consecutive year, according to a survey released today by the Australian Prudential Regulation Authority (APRA).

Over the last eight years (since the survey began in 2001), banks have increased their branch network to 5504 – a rise of 715 or 15% as at June 2009. Over the last year, the net increase is a strong 106 branches or 2%.

David Bell, Chief Executive of the Australian Bankers’ Association (ABA), said: “There has been strong growth in branches over the past five years, in particular. In this period, bank branches have been growing on average at 123 branches per year.”

Source: ABA

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