Business
Suncorp shutters 20 branches citing COVID-19 digital shift – The Australian Financial Review
A 17 per cent reduction in the bancassurer’s physical network comes as two-thirds of new accounts are now opened online.
There are just over 5000 bank branches in Australia, and the number has been gradually trending down over several years. But none of the major banks have made lockstep reductions of Suncorp’s magnitude, and Commonwealth Bank has pledged to maintain the largest branch network in the country.
NAB CEO Ross McEwan told The Australian Financial Review in May he would wait to see what the use of branches looked like after COVID-19, and make decisions based on how customers were responding. “We’re see…
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