Australia and New Zealand Banking Group (ANZ) has reportedly informed its customers about the planned closure of seven bank branches, taking the total closures to 19 in recent months.
Most of the seven branches are in regional centers, including Healesville in Victoria and Tamour in New South Wales.
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However, the lender did not reveal the number of headcounts it planned to make redundant due to the closure of the seven bank offices.
By leveraging electronic services for banking transactions, the lender aims to curtail its physical retail banking footprint and transform branches into sales offices.
The bank has installed approximately 400 Smart ATMs, which enable it to transfer 26% of targeted transactions from branches to these ATMs, as reported by bankingday.com.
A bank spokesperson was quoted by bankingday.com as saying, "We need to ensure our branch network reflects how and where our customers are choosing to interact with us."
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By GlobalData"Based on this, we regularly review our network and this means overall branch numbers may fluctuate,’ the spokesperson told the publication.
