Bankwest only for WA clients

BANKWEST is shutting its corporate banking services outside of Western Australia and moving customers to its parent, Commonwealth Bank.

Retail and non- managed small business customers nationwide will stay with the Perth- based lender, but those businesses with a relationship manager will be migrated to CBA’s business and private banking unit.

All customers in WA will remain with Bankwest.

Bankwest said a majority of its business banking staff would move across to Commonwealth Bank, but did not say what would happen to the rest. Bankwest’s profit fell 12 per cent to $ 355 million in the first half of the financial year, driven by higher loan impairment expenses and lower income.