Bankwest will direct further investment to meet growing customer preferences for digital and broker services amid declining branch transactions, leading to three Perth metro branch closures in late 2023.
The closures reflect Bankwest’s strategic focus on growing as a WA-based bank for current and future homeowners nationwide by investing in improved digital and broker services for its homeowner customers.
Bankwest will close Baldivis on 9 November, South Perth on 16 November, and Osborne Park on 23 November, with the three branch closures following the previously announced closure of Subiaco on 20 July (all 2023).
Bankwest will today conclude customer notification for the closures, which includes information on alternative banking options – digital and in-person through Bank@Post – to ensure continuity of banking services.
Bankwest intends to retain impacted colleagues through re-skilling and re-training programs to support customers in digital channels, and through career opportunities in a broad range of CBA Group roles in WA.
Bankwest’s partnership with Bank@Post enables customers who prefer in-person banking to continue to do so in their local communities, with participating Australia Post offices servicing many everyday banking transactions.
Bankwest General Manager Personal Banking Scott Spittles said: “Bankwest has been evolving for 128 years and today we have a clear vision to be a simple, easy bank for current and future homeowners nationwide.
“I understand these changes will cause some inconvenience, but we are seeing more branches become increasingly unsustainable to operate as customer banking preferences shift to digital options.
“Customer demand for digital banking services continues to grow, with digital transactions accounting for more than 90 per cent of all transactions, while in-branch services have declined by almost half in the past three years.
“We expect to operate fewer branches as customers increasingly choose digital banking services but we’re intent on retaining our brilliant branch colleagues, who have invaluable customer service skills and experience.
“As a major WA employer, our Fluid workforce initiative enables us to work with branch colleagues to retain their talents in roles where customers want more support, in our customer service centre, or in other roles in the Group.
“The CBA Group, including Bankwest, employs about 5000 West Australians and more career opportunities are opening up in customer service, technology, data science and operations areas to meet changing customer needs.
“We’ll continue to balance customer preferences for digital banking services with alternative face-to-face options, including Bank@Post services, covering most everyday banking needs in communities across Australia.”
Bankwest last September announced the closure of all branches outside WA as it sharpened its strategic focus and redirected investment to be a simple, easy bank for the Australian homeowner of today and tomorrow.
Those changes have opened investment in priority areas, such as Bankwest’s critical broker network and homebuying resources, including the new Bankwest Home Buying Hub, and improved digital banking services.
About Bankwest
Bankwest’s vision is to be a simple, easy bank for the Australian homeowner of today and tomorrow, and our purpose is to build a brighter future for all. Bankwest provides personal and everyday banking solutions for customers across Australia. We support customers in doing their banking in the ways that suit them, with innovative digital solutions, an Australia-based 24/7 Contact Centre, a passionate broker community, and our WA branch network. Bankwest is a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit license 234945. You should consider the Product Disclosure Statement (PDS) and whether the product is right for you. A PDS is available from bankwest.com.au.
