Under its “co-location” strategy, Westpac will combine some of its branches with those of other brands it owns, including St.George, BankSA and Bank of Melbourne.
Westpac currently has 800 branches across the country.
It has already merged 21 branches in Bega and Dubbo in New South Wales, Alice Springs and Darwin in the Northern Territory, and Port Pirie in South Australia.
“The co-location approach enables us to move two branches into one single location in cases where the two buildings are located very close together,” Westpac CEO Peter King.
“This maintains a physical presence for customers and signals a long-term investment in these communities, while reducing footprint duplication in the same location.”
Improvements in technology meant St.George, BankSA or Bank of Melbourne customers will be able to do their cash transactions at any Westpac branch, King said.
Westpac customers will be able to bank at any regional Westpac Group branch.
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The changes come as Westpac also announced the introduction of digital mortgages, which can be approved in as little as 10 minutes.