Commonwealth Bank is maintaining banking services and employment in regional Australia by keeping all CBA regional branches open until at least the end of 2026, a three year extension on its current commitment.

Retail Banking Services Group Executive, Angus Sullivan, said: “We recognise the way people are banking is changing, with more customers adopting the benefits offered by digital and phone-based services. Through this time of change we want to support customers in regional areas who prefer banking in branch and so we will maintain our existing face-to-face services in these communities.

“Today’s announcement ensures CBA continues to offer the largest branch network in Australia, providing customers across the country with a wide range of flexible banking options and locations.

“We look forward to working closely with regional communities over the next three years to refine how we better support and familiarise them with all the CBA banking services available,” Mr Sullivan said.

In February 2023, CBA was the first major bank to commit to keeping regional branches open for the rest of the year. This renewed commitment provides further reassurance to regional communities.

Multi-channel branches

In addition to offering Australia’s no.1 banking app and a wide range of online services, CBA’s response to the digitisation of the economy and changing customer preferences has included the establishment of multi-channel branches.

Mr Sullivan said: “Multi-channel branches allow us to maintain a strong physical presence across regional Australia, safeguard and upskill regional employment, and help CBA meet increasing customer demand for phone and digital banking services across the country."

Since September 2021, 90 regional branches have operated as multi-channel branches. As part of our regular review of our services, CBA will explore opportunities to transform additional regional branches into multi-channel sites where it makes sense.

Multi-channel branches provide face-to-face services to local communities for the first part of the day, before closing to local customers at 1pm; at which point branch staff join their colleagues in CBA’s Australian-based contact centres, helping to assist more than 1 million customers each month.

Continued access to safe and secure, face-to-face banking services

CBA’s investment in Bank@Post leverages the significant infrastructure and trusted position of Australia Post to give CBA customers additional face-to-face banking services. Bank@Post provides access to banking services to around 3,400 communities, including 1,800 rural and remote locations across the country.

Mr Sullivan said: “Together, CBA’s branch network and Bank@Post mean that Australians who bank with CBA have access to face-to-face services if this is how they want to do their banking”.

Notes to Editor

Branch locations are defined in line with the Accessibility/Remoteness Index of Australia (ARIA+), which is recognised as a leading indicator of remoteness in Australia. ARIA+ is used by the Australian Bureau of Statistics (ABS) for its Australian Statistical Geography Standard (ASGS) Edition 3, and the Australian Prudential Regulation Authority (APRA) for its annual ADI Points of Presence report. ARIA+ is an objective measure of physical distance of populations to services.

Things you should know

Media releases are prepared without considering an individual readers objectives, financial situation or needs and is not intended to be a recommendation or statement of opinion. Readers should consider the appropriateness to their circumstances and consider seeking financial advice based upon their circumstances before making any financial decisions. Visit Important Information to access Product Disclosure Statements or Terms and Conditions which are currently available electronically for products of the Commonwealth Bank Group, along with the relevant Financial Services Guide. Target Market Determinations are available here.

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