Caringbah Commonwealth Bank branch to close in late August

The announcement of another bank branch closure - along with its ATMS - in south Sydney has renewed doubts about the loss of essential services outside the CBD – and older Aussies are set to pay the price.

Commonwealth Bank will close its Caringbah branch on August 23. Picture: NewsWire / Roy VanDerVegt

The announcement of another bank branch closure in south Sydney has renewed doubts about the loss of essential services outside the CBD.

It comes after Commonwealth Bank revealed it would close its Caringbah branch on August 23 following 73 years of operation.

As part of the closure, Commonwealth Bank ATMs will also be removed from the area.

CBA Sydney South area manager Kavita Shukla said customers would still be able to access face-to-face banking at the Miranda, Sylvania, and Cronulla branches, which are all within 5km of the Caringbah site.

“Cronulla branches are popular banking centres for local communities,” Ms Shukla said.

The Caringbah branch will close after 73 years of service. Picture: Supplied

“These are larger branches, with more staff at each location, including home lending specialists, business bankers, and access to convenient self-service technology.

“We remain committed to maintaining the largest branch network in the country and warmly welcome our Caringbah customers to our nearby branches.”

Commonwealth Bank confirmed their Bank@Post option will remain available through the nearby Caringbah Post Office where 98 per cent of cash transactions can be completed.

Caringbah branch staff have also been assured they will be relocated to other branches and there will be “no job losses” as a result of the closure.

However, local community members, particularly elderly residents, have opposed the impending loss of another essential service.

The Caringbah branch closure will come after the Jannali, Gymea and Sutherland Commonwealth branches all closed within the last 12 years.

It comes after the CBA Sutherland branch closed in 2022. Picture: Real Estate Commercial

Sutherland Shire Councillor Jack Boyd opposed the decision. Picture: Supplied

Further ‘Big 4’ bank branch closures have swept the Sutherland Shire with notable departures including the Westpac branch in Engadine, and the NAB branch in Cronulla.

Sutherland Shire councillor Jack Boyd expressed his dismay with the decision and its impact on the local community.

“Extremely disappointed to learn that the Commonwealth branch at Caringbah will be closing,” Cnr Boyd said.

“The CBA made over $10 billion last year but shut the Gymea branch in 2019 and Sutherland branch in 2022.

“All this despite other branches like Miranda reporting that they are overwhelmed by in-person demand.”