No regional branch closures until at least 2030, ANZ commits
Big four bank pledges to keep a presence in every community in which it currently operates a branch until at least December 2030.
Big four bank ANZ has pledged it will keep a presence in every community in which it currently operates a branch until at least December 2030.
The bank’s promise, made on Friday, includes its recently-acquired Suncorp Bank and was made as the integration of the formerly Queensland-focused Suncorp intensifies.
ANZ cautioned that in the up to 19 regional locations where there are Suncorp and ANZ branches and some may be combined or brought together — but not before August next year.
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By continuing you agree to our Terms and Privacy Policy.ANZ has pledged that until the end of 2030, it will maintain a branch presence in every regional community where ANZ or Suncorp operates today, maintain at least two branches in regional communities with a population of greater than 100,000 and at least three branches in communities with populations of greater than 200,000.
“Branches remain an important part of how many people choose to bank, particularly in regional communities,” chief executive Nuno Matos on Friday said. “They provide customers with access to cash, face-to-face banking services and trusted support when they need it most.”
Existing Suncorp Bank agency owners will be offered to extend their arrangements until the end of 2030. If they choose not to, they will not be replaced, with ANZ saying Agencies provide third party face-to-face services that are separate from the branch network.
ANZ also said it would open a new branch in Victoria’s fourth-largest city of Bendigo, evidence it said of its ongoing investment in regional Australia.
“By bringing the two networks together, customers of both banks will have greater access to branches and ATMs, including ANZ’s much larger national network for Suncorp Bank customers and an enhanced regional network for ANZ customers, particularly in Queensland.”
Banks have been under fire for their commitments to regional Australia after a litany of branch closures in recent years, with some communities left without any of the big four.
Since then, Westpac and Commonwealth Bank late last year promised no regional branch closures until 2030, while NAB has committed the same until at least July 31, 2027.
All four big banks face their yearly Senate grilling next week, while ANZ will report its full-year results on Monday.
Originally published on The Nightly
