MAY 21, 2024
According to the branch lists of the big four’s founding banks at the peak of the modern network, there were (minus some double ups due to mergers around this period) 2804 banks in 1126 regional locations in Australia in 1975. Of those, just 896 remain open in May 2024 – a cut of 68 per cent of the network or a loss of 1893 bank branches in more than 1000 regional towns, cities and coastal communities in just over 45 years.
ANZ BANK: ANZ now has the smallest regional bank network in Australia with just 167 of its original 617 branches (excluding mine sites) outside metropolitan cities still open and providing branch service, a cut of 73 per cent.
WESTPAC: Westpac has the second smallest regional footprint after slashing 76 per cent of non-metropolitan branches, leaving it with 189 from its original 777. (Decisions to close seven branches were reversed in May 2023.)
NATIONAL AUSTRALIA BANK (NAB): National Australia Bank has 236 regional branches still open but has closed (or cut services to a point where the facility is no longer classified a bank branch) 524 locations. This is a cut of 69 per cent of its original regional network of 760.
COMMONWEALTH BANK (CBA): Commonwealth Bank was for some time the only one of the “big four” that still has more regional branches open than it has closed, but that changed in 2021-22. That situation changed again in 2024 when 15 Bankwest branches were rebranded CBA. Of its original 650 branches, 319 remain open, a 51 per cent reduction. In total it now has 334 regional branches.
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MARCH 2024
According to the branch lists of the big four’s founding banks at the peak of the modern network, there were (minus some double ups due to mergers around this period) 2804 banks in 1126 regional locations in Australia in 1975. Of those, just 922 remain open in March 2024 – a cut of 67 per cent of the network or a loss of 1877 bank branches in more than 1000 regional towns, cities and coastal communities in just over 45 years.
ANZ BANK: ANZ now has the smallest regional bank network in Australia with just 171 of its original 617 branches (excluding mine sites) outside metropolitan cities still open and providing branch service, a cut of 72 per cent.
WESTPAC: Westpac has the second smallest regional footprint after slashing 75.5 per cent of non-metropolitan branches, leaving it with 190 from its original 777. (Decisions to close seven branches were reversed in May 2023.)
NATIONAL AUSTRALIA BANK (NAB): National Australia Bank has 241 regional branches still open but has closed (or cut services to a point where the facility is no longer classified a bank branch) 519 locations. This is a cut of 68 per cent of its original regional network of 760.
COMMONWEALTH BANK (CBA): Commonwealth Bank was for some time the only one of the “big four” that still has more regional branches open than it has closed, but that changed in 2021-22. Of its original 650 branches, 320 remain open, a 51 per cent reduction.
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JUNE 2023
According to the branch lists of the big four’s founding banks at the peak of the modern network, there were (minus some double ups due to mergers around this period) 2802 banks in 1126 regional locations in Australia in 1975. Of those, just 949 remain open in June 2023 – a cut of 66 per cent of the network or a loss of 1853 banks in 1033 regional towns, cities and coastal communities in just over 45 years.
ANZ: ANZ now has the smallest regional bank network in Australia with just 174 of its original 615 branches outside metropolitan cities still open, a cut of 71.5 per cent.
WESTPAC: Westpac has the second smallest regional footprint but has slashed 76 per cent of non-metropolitan branches leaving it with 186 from its original 777. (Decisions to close seven branches were reversed in May, 2023.)
NAB: National Australia Bank has 265 regional branches still open but has closed (or cut services to a point where the facility is no longer classified a bank branch) 495 locations. This is a cut of 65 per cent of its original regional network of 760.
CBA: Commonwealth Bank was for some time the only one of the “big four” that still has more regional branches open than it has closed, but that has now changed with some particularly cruel cuts in 2021-22. Of its original 650 branches, 319 remain open, a 51 per cent reduction. The Commonwealth’s most recent closures in places such as The Entrance, Port Fairy, St Marys, Umina Beach, Junee, Tewantin and Toomina have left these towns with no corporate banking services at all.