Most banks shedding branches

13/11/2009

ANZ, NAB and Commonwealth all lost branches during the financial year ending June 2009, as did the mutual sector. Westpac/St George expanded during the year, adding eleven branches between them while Suncorp added four.

Rural Bank (previously known as Elders Rural Bank) added fifty branches to its network in the year to June 2009 according to the latest Points of Presence data released by APRA yesterday. However that spectacular growth may be due to APRA changing the definition of Elders outlets to bank branches.

Bendigo and Adelaide Bank added 16 branches, despite losing three in Victoria.

Bankwest, which was purchased halfway through the year by Commonwealth Bank, also added 16 branches in the eastern states.

Bank of Queensland could not offset losses in WA and the southern states by adding the Home Building Society’s 33 branches. BoQ’s branch network contracted by 20 branches in total.

Source: The Sheet

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