Australian banks record continued branch growth

Tuesday December 1, 2009

Banks in Australia have been expanding in their numbers of actual branches continually for the last eight consecutive years, despite the surging popularity of internet banking and online transactions.

According to the Australian Prudential Regulation Authority (APRA) survey, which actually commenced in 2001, Australian banks have steadily increased their network of branches to a 2009 figure of 5504. This represents a 15 per cent or 715 branch increase since 2001 and a 2 per cent or 106 branch increase since 2008.

Chief Executive of the Australian Bankers' Association (ABA), David Bell, said in a statement from the ABA 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."

"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."

"Apart from the branch services, our banks are effectively open 24/7 offering accessibility almost wherever you are through ATMs, telephone and Internet banking. Customers can get cash at midnight, pay bills from the laptop in the lounge room and check balances while on holidays."

"Your ability to access and manage your personal finances makes banking one of the most convenient and accessible services provided in Australia."

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