National Australia Bank will close five branches next year, the bank has confirmed.
NAB retail executive Krissie Jones said the branches to be closed on March 7, 2024 are Tuggeranong in ACT, Scone in NSW, Emerald in Greater Melbourne, Runaway Bay on the Gold Coast and Balmain in Sydney.
She said the closures were a result of more people choosing to bank online.
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“While we understand some people will be disappointed, this decision was made after looking closely at the number of customers using these branches and the increased use of digital banking in the area,” Jones said.
“Just as people are using online government services to complete their tax or a Medicare claim, locals in these areas are increasingly choosing to bank digitally because it’s often more convenient.“
The Financial Sector Union was notified of the closures last month.
FSU national secretary Julia Angrisano slammed the announcement’s timing just before Christmas, when she said some households would be struggling with cost of living pressures.
“Closing these banks is a betrayal of the community and staff in these areas and will make banking harder for older people, businesses and anyone who needs to speak to a banker face-to-face,” Angrisano said.
“It is a disgrace that NAB continues to aggressively pursue its branch closure strategy without genuine community engagement or employee consultation.”
NAB stressed no jobs were lost as a result of the closures and employees of closing branches will be transferred to other roles at the bank.
More to come …