6 July 2018
The Hayne Royal Commission has revealed the true nature of ANZ’s customer relations strategy by raising the issue of bank closures, especially in regional and remote areas.
Yesterday’s revelation that the ANZ had developed a plan to accelerate branch closures during 2018 and 2019 is reflected in the current rate of ANZ closures.
Over the past financial year, the Finance Sector Union of Australia (FSU) has been notified about 55 branch closures by the ANZ across Australia.
The FSU’s analysis of the locations of ANZ branch closures reveals that towns with fewer than 7,500 residents are more likely to lose an ANZ branch.
In the past year 38 ANZ branches closed in towns with fewer than 7,500 people. A total of 45 ANZ closures occurred in towns with fewer than 10,000 people.
Many of the towns which lost ANZ branches were also in areas with a high proportion of people in the lowest socio-economic groups.
ANZ is currently in the process of closing more branches in Victoria at the following locations:
- Drysdale;
- Balaclava;
- Daylesford;
- Corryong; and
- Donvale.
The FSU has written to ANZ CEO Shayne Elliott to confirm whether ANZ is implementing the accelerated branch closures program, and to discuss the future of the ANZ retail branch network.
The following comments can be attributed to FSU National Secretary Julia Angrisano:
"This Royal Commission was established to examine whether the behaviour of the banks reflected community standards and expectations. The closures by ANZ show very clearly that ANZ’s priority is to maximise profit at the expense of customers."
"The documents revealed to the Royal Commission suggest that ANZ’s commitment to rural and regional communities is totally contingent on the branches meeting ANZ profitability standards."
"But they are not the only bank with that business plan. All the big banks are deserting customers in rural and regional areas.
Ms Angrisano said the FSU was concerned that the ABA Closures Protocol did not go far enough and the banks should be consulting staff and local communities before decisions to close branches were made. The FSU has requested a meeting with Shayne Elliott to discuss ANZ’s commitment to its rural branch network, and regional and remote communities.
Link to the ABA Branch Closures Protocol below.
http://www.bankers.asn.au/images/uploads/ArticleDocuments/149/Branch%20Closure%20Protocol%20Oct%202015.pdf
Media comment Julia Angrisano 0418994418
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