ANZ has pledged there will be no further regional branch closures before at least December 2030 after it merges its network with Suncorp Bank's, the bank said in a statement. The commitment requires a minimum of two branches in regional communities whose population exceeds 100,000, and a minimum of three in those whose population exceeds 200,000.
ANZ completed its purchase of Suncorp Bank in 2024 and is transferring more than a million Suncorp customers across to ANZ platforms by 2027. The two banks currently have branches near each other in up to 19 regional locations, and during integration ANZ may propose merging some of those pairs, though no such moves can proceed before August 2027. Any consolidations must first go through a consultation process involving affected employees and the Finance Sector Union.
ANZ chief executive Nuno Matos said the commitment would deliver a stronger regional network and greater certainty for customers, employees and communities, noting that branches give customers access to cash, face-to-face services and support when needed most. He said combining the two networks would expand access to branches and ATMs for customers of both banks, with Suncorp Bank customers able to use ANZ's larger national footprint and ANZ customers gaining a stronger regional presence, especially in Queensland.
As part of the announcement, ANZ said it would open a new Bendigo branch and is evaluating possible sites across the city. The bank will give Suncorp Bank agency owners the chance to extend their arrangements to at least December 2030; where an owner declines or exits before that date, the agency closes permanently with no branch replacing it.
Agencies are third-party providers of face-to-face banking services that sit outside the branch network. The commitment builds on a $30 million investment in ANZ's branch network announced previously and an expanded trading program at selected branches.
Customers in regional communities served by either ANZ or Suncorp Bank branches are assured of continued branch access in those communities until at least December 2030. Suncorp Bank customers will gain access to ANZ's broader national branch and ATM network as the two networks are integrated.
Official statements: ANZ
Reporting: The Nightly
Background: ABC News, Yahoo Finance
Written by Pick & Scroll News from the reporting and documents linked above.
