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The day a Port Hedland bank overflowed with too much cash

The day a Port Hedland bank overflowed with too much cash

After 37 years in banking, the outgoing CEO of Auswide Bank reflects on the big four’s blunders, and life in boom-time WA.

Liam WalshReporter

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Port Hedland in remote Western Australia was booming and cash was sloshing around. Too much cash, actually.

It was 1995 and the local 13-staff National Australia Bank branch, managed then by Martin Barrett, had a capacity of $1.5 million. As the safe filled, Australia Post would routinely transport the cash, secured and insured, until one day it decided suddenly to drop the service.

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Liam WalshReporterLiam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au

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Original URL: https://www.afr.com/companies/financial-services/the-day-a-port-hedland-bank-overflowed-with-too-much-cash-20231208-p5eq34