AAP General News (Australia)
08-20-2001
Fed: Westpac says will not close any more branches
By James Dampney
SYDNEY, Aug 20 AAP - Westpac would not close any more bank branches in rural and metropolitan
areas, its chief executive said today.
In comments met with scepticism by the Finance Sector Union (FSU), David Morgan said
the bank had reached the right number of branches in country areas.
"We have drawn a line in the sand and we've said wherever we have rural representation
now, that will be maintained," Dr Morgan told ABC radio.
"We will maintain face to face transactional banking in the bush. We have also now
drawn a line in the sand with respect to metropolitan branches.
"The 800 branches that we now have in metropolitan and rural Australia, we think is
about right," he said.
Westpac, National Australia Bank and ANZ are facing an ongoing industrial campaign
by the FSU seeking greater job security, better pay and improved customer service.
FSU national secretary Tony Beck said today he had little faith in Dr Morgan's comments.
"Too little, too late," he told AAP.
"(The banks) take it in turns to come out with some peace offering. The pressure builds
and they take it in turns.
"I suspect his comments have got nothing to do with care for the community or commitment
to regional communities."
Mr Beck said Dr Morgan's comments had little impact considering the spate of closures
over the past two years.
"Big deal. They have just been through a frenzy of shutting down branches. They have
shut everything that moves," he said.
"I would be more interested to hear why he has done what he has done and destroyed
the image of the banks and caused such a public backlash. I suspect they can sniff an
election in the air.
"I have no confidence that as soon as the election is over, they won't start to roll
on to their next stage and there will be further branch closures," Mr Beck said.
AAP jad/rp/ldj/br
KEYWORD: WESTPAC MORGAN
2001 AAP Information Services Pty Limited (AAP) or its Licensors.
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