Commonwealth Bank pledges no regional branch closures until 2030

Big four bank Commonwealth Bank has vowed not to shut any of its branches in regional Australia until at least 2030 amid ongoing criticism of the nation’s biggest lenders over widespread closures.

The nation’s biggest home lender on Thursday extended its commitment to not close regional branches from mid-2027 to December 2030. It follows a similar announcement from Westpac late last year.

“We understand how important access to in-person services is for our customers, along with mobile, phone and online banking,” CBA chief Matt Comyn said.

“Regional communities are central to the Australian economy and our way of life. We have been part of these communities for generations, and today we are providing certainty that every one of our regional branches will remain open into the next decade.”

Across regional and metro locations, CBA has the biggest network of more than 600 branches and maintains over 1700 ATMs.

CBA said its 281 regional locations would continue supporting cash deposits and withdrawals, everyday and business banking.

“Regional businesses rely on strong local banking relationships Our branches and bankers remain central to how Commonwealth Bank supports businesses, jobs and economic activity in communities across Australia,” CBA business banking group executive Mike Vacy-Lyle said.

CBA the same day announced it would invest $140 million this financial year to improve branches and access to lenders, specialist and business bankers in branches, including metro locations, as well as reduce wait times.

The big four banks — CBA, ANZ, Westpac and National Australia Bank — have been under scrutiny for years over their regime of regional bank branch closures, citing decreased patronage as customers use online services.

But in regional areas, often with sub-par internet connectivity, towns and councils have argued the loss of bank branches has cost communities dearly.

Bankwest, owned by CBA, closed all of its physical locations in 2024 to go completely online.

A Senate inquiry in the same year found self-regulation of the big four banks had failed to shelter regional areas from damaging impacts of branch closures The inquiry was sparked after 1200 branches nationally closed in regional areas in six years.

While the Finance Sector Union welcomed CBA’s decision to extend its moratorium on regional branch closures, it said metro communities were still being left behind.

“It’s disappointing that CBA has not extended its moratorium to metro branches. Already this year, 29 metro branches are due to shut or have already closed,” FSU national secretary Julia Angrisano said.

“Closing metro branches clearly isn’t about necessity — it’s about squeezing even more profits at the expense of customers and workers.”