NAB announces branch closures across the country including Queensland, NSW and Victoria

One of Australia’s big four banks has announced the closure of five of its branches across the country next year.

NAB confirmed its branches in Teggeranong in ACT, Emerald in Greater Melbourne, Balmain in Sydney, Scone in NSW and the Gold Coast’s Runaway Bay will all be closed on March 7.

NAB retail executive, Krissie Jones, said the decision to close the stores was due to more Aussies choosing to bank online than in person.

The bank alerted the Financial Sector Union (FSU) of the news on Wednesday, who claim the decision ‘fails to take account of community concern about bank closures’.

The FSU’s National Secretary, Julia Angrisano, describing closing regional banks as ‘a betrayal of the community and staff in these areas’.

Ms Angrisano slammed the announcement just before Christmas as a ‘disgrace’ that will hit older Aussies and businesses the hardest.

‘After delivering an annual profit of $7.7 billion, NAB is still using branch closures to cut costs and boost profits,’ she said in a statement.

‘The bank could easily invest in these communities who rely on branches to meet their banking needs instead of shut them down.

‘NAB needs to wake up to the real needs of customers, save the jobs of bank workers and keep these branches open.’

More to come