Suncorp branch expansion to fight rivals

Suncorp is aiming to grow and will expand its branch network in Queensland over the next three years in response to new branches being opened by competitors ANZ and BankWest. The changes will also mean trialling the outsourcing of some back-office functions with some going to local financial services vendor Perpetual, and others going overseas to India. However, Suncorp chief, John Mulcahy, said that the new arrangements would not reduce total staff numbers. “For every back-office job that is outsourced, we would expect that our investment in our customer service network will allow us to create one new customer-facing role, resulting in no net job losses over the period,” he said.