Bank branches continue to grow
(16 November 2009 – Australia) According to a survey released by the Australia Prudential Regulatory Authority (APRA) bank branches have continued to grow for the eighth consecutive year.
While many banks are closing branches around the world, Australia’s branches have increased by 2 percent in the last year alone, a total net increase of 106 branches.
The survey began in 2001 and overall since its implementation banks have increased their network to 5504 branches.
The total rise of branches equates to 715 or a 15 percent increase as at June 2009.
David Bell, chief executive officer, Australian Bankers’ Association said that there has been strong growth in branches over the past five years, in particular. In this period, bank branches have been growing on average at 123 branches per year.
Mr Bell added that despite the effects of the global financial crisis, Australia’s strong and stable banks have continued to open branches in areas which are experiencing business and population growth. Compare this to the United States, where 120 banks have failed this year.
The survey began in 2001 and overall since its implementation banks have increased their network to 5504 branches.
The total rise of branches equates to 715 or a 15 percent increase as at June 2009.
David Bell, chief executive officer, Australian Bankers’ Association said that there has been strong growth in branches over the past five years, in particular. In this period, bank branches have been growing on average at 123 branches per year.
Mr Bell added that despite the effects of the global financial crisis, Australia’s strong and stable banks have continued to open branches in areas which are experiencing business and population growth. Compare this to the United States, where 120 banks have failed this year.
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