NAB ramps up temporary branch closures | clancyyeates
National Australia Bank will temporarily close more than one in 10 of its branches, as social distancing rules lead to a sharp drop in the number of people doing their banking in person.
ANZ Bank had on Monday also closed 58 of its branches, while Westpac has had up to 30 of its branches closed in recent weeks, while Commonwealth Bank had 16 of its branches shut.Banking sources suggested more outlets were likely to close across the industry, as the number of people visiting branches falls sharply, and banks face staff shortages due to parents needing to care for children.
"We think it’s a really great opportunity to start re-skilling our teams, so that they can start to help other areas that have been inundated during this period,” she said. The number of bank branches in Australia has been slipping in recent years as more customers embrace banking digitally, but the coronavirus has sharply accelerated the trend.Ms Jones said that in the most extreme case of Sydney’s central business district, foot traffic had fallen 90 per cent, while in other cases the reduction was closer to 40 per cent.
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