Bendigo Bank Plans to Close 10 Branches in Three Different States

Bendigo Bank announced it will shut down 10 branches across three states, leaving five regional communities without any financial services.

The closing of branches — six in Victoria, two in Queensland, and two in Tasmania — is set to commence on August 1 and wrap up by October 31.

A full list of the affected branches can be found below.

The bank attributed the decision to a review into changing customer preferences, reduced business activity and increased costs.

Bendigo Bank Chief Executive Richard Fennell said closing down branches was a last resort.

“To maintain the unique qualities of our bank, we must balance our physical network and continue to invest in the evolving preferences of our 2.7 million customers,” he stated.

Bendigo Bank is working with affected staff and exploring opportunities to redeploy them to other parts of the business.

9news.com.au understands there are about 30 staff members impacted by the closures.

Finance Sector Union National Secretary Julia Angrisano has reached out to Fennell, urging him to reconsider the decision since five regional communities — Bannockburn, Korumburra, and Yarram in Victoria, Malanda in Queensland, and Queenstown in Tasmania — will be without a bank branch.

“The largest impact from this decision will be felt in the bank’s home state of Victoria with six branches closing including larger regional branches in Geelong and Ballarat, and a suburban branch in South Melbourne,” she said.

“This is an incredibly disturbing development and does not bode well for the future of Bendigo Bank’s presence in regional Australia.

“For a bank which proudly has its regional centre hometown as part of its name, and is fondly known for its community branch network, this decision feels very ‘big bank’ for all the wrong reasons.”

Fennell insisted Bendigo Bank had more branches per customer than any other Australian bank and operated the second largest regional branch network.

“We are proud of our regional heritage and in order to continue delivering for our customers and communities we must ensure our branches are adequately supported and resourced,” he said. 

Bendigo Bank branch closures