September 5th 2024.
ANZ, a major banking institution, has been facing criticism from their customers who are upset about the planned closure of the Katoomba branch in the Blue Mountains of New South Wales next month. Despite community protests and a petition with over 13,000 signatures, the bank has announced that the closure will go ahead as planned on October 23. This has caused some confusion and anger as ANZ had previously made a promise not to close any regional branches until 2027, as part of an agreement with Federal Treasurer Jim Chalmers for their acquisition of Suncorp Bank.
In response to concerns raised by 9news.com.au, a spokesperson for ANZ clarified that the closure of the Katoomba branch does not violate the agreement because it is not considered a regional location according to the Australian Bureau of Statistics. The bank reassured that they will maintain their regional branch numbers for the next three years, until mid-2027. Maps from the ABS show that Katoomba is classified as a major city, just within the western border of the Greater Sydney region.
However, this explanation has not satisfied those who are directly impacted by the closure. Kim Grace, a local resident who started the petition, expressed disappointment and questioned the bank's loyalty to its Blue Mountains customers. She pointed out that the nearest ANZ branches are located in Bathurst, a 90-minute drive west, or Penrith, a 70-minute drive east. This means that the entire Blue Mountains, a popular tourist destination, will no longer have an ANZ branch.
At a recent house standing committee meeting in Canberra, ANZ's chief executive Shayne Elliott was questioned about the closure of the Katoomba branch, as well as another branch in Murwillumbah in the Tweed region. In a slightly agitated response, Elliott appeared to be unaware of the planned closure and stated that the bank was reconsidering the decision. However, ANZ's group executive for Australian retail, Maile Carnegie, clarified that the closure of the Katoomba branch will go ahead as planned and this has already been communicated to the government.
The closure of the Murwillumbah branch was attributed to mould issues, with the bank stating that it is not fit for purpose and they are exploring other options for the future. ANZ has faced backlash from the community for their plans to close other branches, such as Bega in south-eastern NSW and Portland in south-western Victoria. The bank eventually reversed these decisions due to public outcry.
According to data from banking regulator APRA, the number of bank and credit union branches in Australia has decreased from 6,000 in 2001 to 3,588 branches in June 2023. ANZ has also stated that there has been a significant decline in transactions at their branches, with only 1% of all transactions now being done over-the-counter. They have also seen a significant increase in customers using their mobile banking app, with almost 4 million users.
ANZ is currently working with their Katoomba customers to ensure that they are aware of all their banking options. For any further information or inquiries, please contact reporter Emily McPherson at
[email protected].
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