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Australia's BankSA to close regional branches.

Global Banking News-November 11, 2015--Australia's BankSA to close regional branches

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Global Banking News - 11 November 2015

Australia-based BankSA has announced plans to close regional branches.

The bank said that it was planning to close 20 regional branches across South Australia. The bank said that its decision was prompted by an increase in Internet banking in the region. The bank said that it could open alternative banking venues to ensure customers can keep using face-to-face services.

BankSA chief executive, Nick Reade, said, 'We're seeing an unprecedented shift to electronic channels for customers using the banking services. In addition to things like ATMs and EFTPOS we're seeing a rapid take-up of digital [with] internet banking and mobile banking. Across the entire BankSA network only 5 percent of customers' transactions are now in a branch and in regional SA that is around 3 percent - and it's 3 percent in the branches we're talking about.'

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Publication:Global Banking News (GBN)
Geographic Code:8AUST
Date:Nov 11, 2015
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