A branch of Bendigo bank in Melbourne, Australia on Aug. 20, 2012. AAP image/David Crosling
Bendigo Bank has announced it will shut down ten of its branches next month, including six in Victoria, two in Queensland, and two in Tasmania.
The Victorian closures will affect South Melbourne, Malop Street Geelong, Bannockburn, Yarram, Korumburra, and Ballarat Central. In Queensland, Malanda and Tully North are slated to close, while Tasmania will lose branches in Kings Meadows and Queenstown.
Chief Executive Officer Richard Fennell said the decision to close branches is “only ever a last resort,” but essential to ensure the bank remains responsive to changing customer behaviour.
“Bendigo Bank has more branches per customer than any other Australian bank,” he said. “We operate the second largest regional branch network and the third largest branch network nationally.”
Fennell said the closures are part of a broader strategy to maintain the bank’s regional identity while adapting to digital banking trends.
“To preserve what makes our bank unique, we must balance our physical network presence with the need to continue investing in the changing preferences of our 2.7 million customers,” he said.
The bank said it is working to redeploy affected staff where possible and provide support to impacted customers.
“Our aim is to ensure that each remaining branch is adequately resourced and supported so we can continue to serve our communities effectively,” Fennell said.
