200 JOBS TO GO AS BANKWEST CULLS 29 BRANCHES
HELENSVALE’S Bankwest has escaped a 29-branch culling by the Commonwealth Bank-owned company, which will cost 200 jobs in three states.
Bankwest announced yesterday it would close branches over three weeks from August 17, leaving 14 branches standing on the east coast, including the Gold Coast branch at Westfield Helensvale Shopping Centre.
Queensland’s eight branches will be reduced to three, with the other two remaining at North Lakes and Queen St Mall in Brisbane.
Managing director Rowan Munchenberg blamed rapid changes in the digital space and said Bankwest could not match the physical footprint of the bigger banks.
“We’re seeing a consistent trend of customers choosing mobile banking over inbranch options for their transaction needs, with an 88 per cent rise in app logins over the past three years,” he said yesterday. Mr Munchenberg said the bank’s operations are being overhauled to “respond more rapidly” to changing customer needs.
“But we know we can’t match the major banks’ nationwide footprint and also deliver world-class digital services, so we will prioritise digital channels and broker relationships,” he said.
A Bankswest spokesman said the company will endeavour to find new roles for the 200 staff within CBA’s operations.
More than half the branch closures are in NSW, with the rest in Victoria and Queensland.
Bankwest has 82 branches and three stand-alone business centres in Western Australia.