(12 November 2009 – Australia) The CEO of Commonwealth Bank has confirmed at the bank’s annual meeting in Perth that the Western Australian branches of BankWest will not be closed.Commonwealth Bank snapped up BankWest and its investment arm St Andrews in October 2008 for A$2.1 billion helping to strengthen its position in the Western Australia market.
Ralph Norris, chief executive officer, Commonwealth Bank said that the BankWest branches will remain open and operate along side Commonwealth branches in the region.
CBA also made a A$4.4 billion profit after tax in the 2008-09 financial year.