Bank closes city branch

THE Bendigo Bank is today closing a branch that has been providing banking services in central Geelong for 35 years.

Customers were told this week that their accounts at 235 Ryrie St will be transferred to its Geelong West branch after the close of business today.

Staff will be relocated to other branches of the BendigoAdelaide Bank, which this week announced a full-year after-tax profit of $445.1 million.

A bank spokesman said the decision to close the branch was made after a recent review of the Geelong CBD branch footprint.

“This decision takes into consideration the proximity of our branches in Malop St and Geelong West, both situated less than 1km away,” the spokesman said.

Customers were advised by a letter dated August 13 from the bank’s Geelong City regional manager Melissa Pearce.

The closure means that there will be no ATMs available at 235 Ryrie St which has featured a drive-in facility since it opened as the Capital Building Society in 1983.

The building was the former head office of the Capital Building Society before it merged with Bendigo Building Society in 1992, going on to became Bendigo Bank in 1995. It merged with the Adelaide Bank in 2007 to become Australia’s fifth largest retail bank.

The Bendigo-Adelaide Bank remains a major tenant of the neighbouring 237 Ryrie St.

An investor bought the pair of office buildings earlier this year for close to $40 million.

The Bendigo-Adelaide Bank operates ATMs at Market Square and Westfield Shopping Centre.