Westpac Promises Not to Close Anymore Regional Branches Until 2027

“Big Four” Australian bank Westpac has pledged not to close any more regional bank branches until at least 2027, and will invest $150 million in its network. The promise is the latest episode in the cashless saga and follows decisions by Macquarie Bank and BankWest to become online-only. On May 1, Westpac announced it would extend its moratorium on regional bank closures until at least 2027. Chief Executive of Consumer Banking Jason Yetton said Westpac heard the feedback from customers, saying there were challenges with internet connectivity and higher travel times to nearby branches. “Westpac has been in Australia for over 207 years. We know regional communities play a critical role in Australia’s economy, and we want to make sure we are there to support them,” Mr. Yetton said....