More bank branches to close as Westpac, CBA and NAB to layoff 182 staff combined

Australia’s major banks will close 37 branches in coming months, with 182 staff to lose their jobs, according to the Finance Sector Union.

The Westpac Group will close 24 branches, CBA will close five and the NAB will close eight banks, the union says.

“This latest list of closures means the Big Four have closed more than 550 bank branches across Australia since January 2020,” union national secretary Julia Angrisano said.

Westpac Group confirmed closures of NSW branches at Lakemba, Engadine, Corrimal, Kingscliff and Queensland branches at Ashmore, Nerang and Rockhampton.

Victorian branches at Braeside, Whittlesea, Werribee and Lilydale will shut, along with West Australian branches at Mandurah and South Perth and the Northern Territory’s Berrimah.

The group’s St George’s Five Dock branch in NSW will close andBank of Melbourne branches in Croydon, Coburg, Fitzroy, Sunbury, Footscray, 114 William Street Melbourne and Mornington will shut. Bank SA branches will also close in Munno Parra and St Peters.

NAB said it’s in the process of closing some less visited branches at Lavington, Narrandera, Corrimal, Figtree, Cronulla and Maroubra in NSW, Wynnum in Queensland and North Melbourne in Victoria. And the union says the Commonwealth Bank will shut NSW branches at Annandale, Toongabbie and Lindfield and at Victoria’s Drysdale and Woodend.

Ms Angrisano says the situation had reached crisis point and urged the government to intervene to protect local economies. If the current trend continued, there’d be no branches left, she said.

“The banks notify the FSU about upcoming closures,” she said.

“We must act to stop the banks walking away from communities in our suburbs and towns.”

A Westpac Group spokesman says less people were coming into branches.

“Declining customer use of branches means that in some instances, we may take a difficult decision to leave a branch location,” he said.

“In these instances, we continue to support our customers by expanding access via Bank@Post, telephone, mobile and virtual banking.”

The “majority” of affected employees would secure a new role within Westpac Group.

NAB retail executive Krissie Jones says Aussies were increasingly banking online.

“We’ve made the difficult decision to close some branches that receive less customer visits,” Ms Jones said.

“While these branches will no longer be there, we will still be there for our customers — just in different ways.”

NAB says there will be no job losses, with other opportunities made available to staff, while CBA says details of its closures would feature in its annual report, due Wednesday.