Commonwealth Bank commitment to retain branches

28 March 2003

There continues to be reports in the media that indicate the Commonwealth Bank is closing branches.

These reports are misleading.

In August 2002, the Bank’s Chief Executive Officer, David Murray announced that the Bank would, effective from that time, retain its branch numbers at their current level of 1,000 branches. He also announced the reversal of a previous decision to close a number of branches.

This commitment remains in place, with no communities losing their branch banking. The Commonwealth Bank is Australia’s most accessible bank with nearly 200 branches more than its nearest competitor.

The Bank’s branch network is supported by Australia’s largest ATM and EFTPOS networks, a relationship with Australia Post that provides banking services at around 3,700 outlets, over 200 private agencies and, through Woolworths EzyBanking, the provision of banking services at 730 Woolworths and Big W outlets.