Westpac is extending its moratorium on regional branch closures until at least 2027 while it strengthens regional banking services.
"Westpac has been in Australia for over 207 years. We know regional communities play a critical role in Australia's economy, and we want to make sure we are there to support them," said Jason Yetton, Westpac Chief Executive, Consumer.
"We've heard the feedback from customers about the impact of branch closures in the bush and understand they face many challenges such as limited internet connectivity and increased travel times to their nearest branch.
"Thats why we'll be investing more than $150 million in our branch network over the next two years. This commitment will support more than 2.2 million customers and 1,000 employees who live and work in 182 regional areas and means we continue to give customers who prefer to do their banking in branch access to face to face service for their banking needs and cash transactions.
"With many regional areas being thriving business and job hubs, this also benefits our small and agri business customers who have built strong relationships with our bankers who live and work in the area, and understand the local business landscape.
"At the same time, we'll work with our partners and local governments to improve regional services and the connection between our branches and local communities. We'll also look to invest in services where there is a growing customer need, including increasing business bankers," said Mr Yetton.
