Banks continue to increase branch networks
(30 August 2012 – Australia) The number of bank branches in Australia has increased for the 11th consecutive year to a total of 56, 361 branches.
The survey released on Wednesday by the Australian Prudential Regulation Authority (APRA) showed solid growth in branches for this year with an increase of 65 or 1.2 percent, the strongest increase in three years.
It was also noted that this year there was an increase in the number of financial institutions which are now classified as banks by APRA.
Branches of six credit unions and building societies, that have become mutual banks, have been included in the APRA data for bank branch numbers in 2012.
ABA chief executive Steven Münchenberg said that over the past five years banks have continued to open branches, even in the midst of the GFC.
Over this difficult time, banks have still added 372 branches, an increase of 7.2 percent.
"The trend in recent years has been to open bank branches in areas with growing populations and business activity."
"The bank branch is just one of the many ways that banks are offering their products and services to their customers. Our banks are effectively open 24/7 offering accessibility wherever you are, at a time which suits you."
"There are so many choices when it comes to how you want to complete banking transactions. Recently, banks have been rolling out new mobile banking apps which let you do your banking on your smartphone or your tablet," Münchenberg said.
"Or you can use ATMs, telephone and Internet banking. Customers can get cash at midnight, pay bills from the laptop in the lounge room and check balances when they’re away from home."
"Your ability to access and manage your personal finances makes banking one of the most convenient and accessible services provided in Australia," he said.
It was also noted that this year there was an increase in the number of financial institutions which are now classified as banks by APRA.
Branches of six credit unions and building societies, that have become mutual banks, have been included in the APRA data for bank branch numbers in 2012.
ABA chief executive Steven Münchenberg said that over the past five years banks have continued to open branches, even in the midst of the GFC.
Over this difficult time, banks have still added 372 branches, an increase of 7.2 percent.
"The trend in recent years has been to open bank branches in areas with growing populations and business activity."
"The bank branch is just one of the many ways that banks are offering their products and services to their customers. Our banks are effectively open 24/7 offering accessibility wherever you are, at a time which suits you."
"There are so many choices when it comes to how you want to complete banking transactions. Recently, banks have been rolling out new mobile banking apps which let you do your banking on your smartphone or your tablet," Münchenberg said.
"Or you can use ATMs, telephone and Internet banking. Customers can get cash at midnight, pay bills from the laptop in the lounge room and check balances when they’re away from home."
"Your ability to access and manage your personal finances makes banking one of the most convenient and accessible services provided in Australia," he said.
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