Vic: Bank of Melbourne defends branch closures

AAP General News (Australia)
02-12-2000
Vic: Bank of Melbourne defends branch closures

MELBOURNE, Feb 12 AAP - The Bank of Melbourne today hit back at claims that it was
closing branches in country Victoria, saying it was the only major bank still committed
to staying in rural areas.

"The Bank of Melbourne is the only major bank to make a commitment to stay in country
Victoria," the bank's chief executive, Matthew Slatter said in a statement.

"Wherever we currently have a country branch, we will continue to provide our customers
with face-to-face transactional banking services."

Westpac, which trades as the Bank of Melbourne in Victoria, has told staff at 25 branches
in Victoria that their banks will go by May, and up to 40 of its branches will be replaced
with banking services in local shops.

Finance unions have hit out at the latest announcement of bank closures, accusing Westpac
of abandoning country Victorians.

"We are deeply disturbed by these closures," said Finance Sector Union assistant secretary
Paul Schroder.

"They are devastating for staff who will lose their jobs, for customers whose access
to essential financial services will be further reduced and for communities who could
see hundreds of thousands of dollars in investments stripped out of their local economies."

Mr Schroder called on the federal government to intervene and stop the exodus of banking
services from rural communities.

But Mr Slatter said the Bank of Melbourne was "here to stay in country Victoria" and
was merely changing the way it delivered services in some towns.

He said the new in-store mini-branches would provide all "everyday" over-the-counter
transactions and would be fully staffed.

The mini-branches would provide increased banking hours, with small country towns getting
Saturday banking for the first time.

Mr Slatter said 80 per cent of banking transactions were now done via automatic teller
machines, the internet, phone and EFTPOS outlets.

Country branches built in the "horse and buggy days" were no longer necessary.

Mr Slatter said bank staff would be redeployed elsewhere with the bank or offered redundancy
packages.

Regional branches to be shut include Yarram, Yea, Kerang, Tatura, Leitchville, Birchip,
St Arnaud, Beechworth, Mansfield, Sea Lake, Mallacoota, Orbost, Rochester, Castlemaine,
Drysdale, Yarrawonga and Cobram.

Branches in metropolitan Mitcham, Richmond South, Brighton North, Glenroy, Mordialloc
and Pinewood also have been earmarked for closure.

The first wave of the closures start on February 25.

AAP tsc/sj/hmg/ej/bwl
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KEYWORD: WESTPAC DEFENCE

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