ANZ targets NAB’s rural clients

The ANZ Bank has launched an aggressive marketing campaign designed to poach the National Australia Bank's customers in rural Australia.

It is targeting customers across three States, in 12 towns where NAB is intending to close its branches, using the slogan “Three Reasons to Switch to ANZ”. The bank is offering to cover switching costs for home loan borrowers, and to waive annual fees on credit cards.

The NAB's Ian MacDonald says he's confident his bank will be able to retain the bulk of its customers in the towns targeted by ANZ, although not ruling out that “some customers may be lost”. He affirmed the NAB's commitment to servicing rural customers through the arrangements negotiated with Australia Post. We're not leaving these regional areas, he said.

On Friday Westpac also revealed that it will be seeking new customers disaffected by the latest rural branch closures. The bank has reportedly sent sales staff to areas which will feel the brunt of the NAB's cost-cutting.