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Bank branches - eight years of growth
Sydney, 12 November, 2009: The number of bank branches has increased for the eighth consecutive year, according to a survey released today by the Australian Prudential Regulation Authority (APRA).
Over the last eight years (since the survey began in 2001), banks have increased their branch network to 5504 – a rise of 715 or 15% as at June 2009.
Over the last year, the net increase is a strong 106 branches or 2%.
David Bell, Chief Executive of the Australian Bankers’ Association (ABA), said: “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.”
For further information:
Heather Wellard, ABA PR
Director, Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439
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