New Toowoomba NAB branch in CBD opens ready to open for residents

Toowoomba’s burgeoning first homebuyer market and growing population motivated NAB’s $10m investment into a new mega-branch, which opens in the CBD this week.

At the launch of National Australia Bank's new $10m Toowoomba CBD branch are (from left) Chris Francis and Jordan Schwarz.

Banking giant NAB says its new $10m “state-of-the-art” mega-branch in the Toowoomba CBD has been designed to cater for the modern-day needs of a fast-growing local customer base.

The company’s new two-storey location on the corner of Ruthven and Little streets opens to the public on Thursday, featuring retail and teller banking, two smart ATMs, as well as business and agribusiness banking on the top floors.

More than 80 people will work from the site, in what is NAB’s largest investment into a single branch in Australia.

Queensland retail executive Chris Francis, who has been in the industry for 25 years, said the facility not only consolidated the bank’s Toowoomba arms in one place but also catered to a suite of customer needs and issues.

The new $10m National Australia Bank branch opens on Ruthven Street in the Toowoomba CBD. Celebrating the launch are (from left) Queensland retail executive Chris Francis and regional and agribusiness executive Jason Lipp (pictured on top floor).

“It has been an evolution — a lot of simple transactions have migrated online, and people can do most of the things I used to help them with (back in the day) on their phones now,” he said.

“There are still people who use a branch and want face-to-face conversations and what this facility does is brings all the specialists into one space, whether it’s the business banker you want to see or something to do with your internet banking.

“While there is less cash, we’re not cashless and we still have tellers.”

The new $10m National Australia Bank branch opens on Ruthven Street in the Toowoomba CBD. Celebrating the launch are (from left) Queensland retail executive Chris Francis and regional and agribusiness executive Jason Lipp.

Mr Francis the decision to invest heavily in Toowoomba was driven by its growing economy and population, particularly with first homebuyers.

“$10m is the biggest banking centre we’ve ever done in Australia — from a Toowoomba point of view, it’s a growth area and we know that,” he said.

“It’s one of the fastest-growing first homebuyer areas in Australia and everything is here.

“There was the opportunity to bring all our specialists together, so it’s a great investment for NAB.”

The new build by Built Constructions has also created a new laneway next to the building, with local First Nations artist David McCarthy painting a mural to celebrate Indigenous culture and highlight the “abundance” of natural flora and fauna on the Darling Downs.

The new $10m National Australia Bank branch opens on Ruthven Street in the Toowoomba CBD. Indigenous artist David McCarthy is pictured with branch manager Steve Platen next to his mural as part of the launch.

It comes two years after News Corp revealed NAB had bought the two land parcels on Ruthven Street for a combined $2.5m, with plans approved by council in 2023.