Bank exodus hits Qld hard: towns left with no branch | MAP

Banks are shutting down branches across Queensland at an alarming rates, with some towns completely abandoned. INTERACTIVE MAP

Queensland towns have been hardest hit by an exodus of the big banks. See our map below.

Queenslanders are losing access to bank branches at an alarming rate, even as the country’s largest financial institutions post record-breaking profits and soaring share prices.

New figures compiled by the Finance Sector Union reveal more than 180 bank branches have shut across Queensland since 2020, stripping towns and suburbs of face-to-face banking services.

The closures have disproportionately affected regional and outer suburban communities.

Towns such as Sarina, Biggenden, Proserpine, Pittsworth, Clifton, Longreach, and Mitchell have all lost NAB branches, while Kin Kora, Ayr and Palmyra are among locations impacted by Westpac’s withdrawal.

In Southeast Queensland, closures include CBA branches in New Farm, Graceville, Redbank, Victoria Point and Acacia Ridge, and BOQ branches in Toowong, Elanora and Carindale.

People First Bank has also exited Nambour, Nerang, Capalaba and Victoria Point, leaving those suburbs without any remaining banks.

Data compiled by the Finance Sector Union and verified by the Australian Prudential Regulation Authority reveals the scale of the retreat.

National Australia Bank has closed 32 branches in Queensland while Commonwealth Bank has shut 29 branches, plus another three through its subsidiary Bankwest.

Westpac Group, including St George and Bank of Melbourne, has exited 29 locations with ANZ closing 14, while Bank of Queensland has closed nine branches and announced the closure of seven more in April.

People First Bank, formed from the merger of Heritage Bank and People’s Choice, has closed 17 branches since 2020.

An Australian Banking Association representative said banks were actively balancing investment in digital platforms with the need to maintain core services in regional and remote areas.

“Banks are ensuring customers can continue to access high-quality banking services no matter where they live,” they said.

“While Australians continue to shift to digital banking and payment platforms, banks recognise some customers still prefer face-to-face services.

“That’s why major banks recently extended the moratorium on regional branch closures until mid-2027.”

Closure notices have been pinned on doors outside branches.

Finance Sector Union national secretary Julia Angrisano called the situation a “shameful betrayal” of customers and staff.

“We are disgusted that despite a Senate inquiry calling for action, the big banks continue to cut and run from Queensland communities,” she said.

“Customers and staff are being abandoned, while the banks rake in record earnings.”

Banks have argued the closures reflected broader shifts in consumer behaviour.

Commonwealth Bank chief executive Matt Comyn said last year it was becoming “unsustainable to invest substantial resources keeping expensive services” that fewer and fewer customers used.

However, in a letter to customers in February 2025, he reaffirmed the bank’s commitment to regional communities.

“We have extended our promise to keep all our regional CommBank branches open until at least July 31, 2027, to support communities and jobs in regional Australia.”

A Commonwealth Bank spokesman this week said that the bank’s branch network was here to stay.

“We proudly maintain the largest branch network in Queensland and across Australia,” the CBA spokesman said.

“We’re actively investing in and upgrading our branches and ATMs, with $100 million planned to be invested this financial year.

“We also remain committed to regional Australia and supporting these communities into the future.”

“This includes continuing to refine how we better support people in the regions in line with our regional branch moratorium, which has been in place since July 2023.”

Bank branch closures to continue throughout this year after the rush started in Logan.

Bank of Queensland also defended its recent branch closures, saying the decision followed a comprehensive review of customer visitation patterns and transaction volumes.

“We are consolidating some branches but also reallocating capital to support growth in Queensland,” a BOQ spokesman said.

“Our strategy is to maintain a physical presence in key markets and deliver a balanced experience that combines digital innovation with targeted physical service.”

People First Bank chief customer officer Maria-Ann Camilleri said the vast majority of their customers already banked online or through call centres.

“We know closing a branch affects local people, and we don’t take that lightly,” she said.

“However, banking habits have changed and less than one per cent of our transactions occur at a branch.”

Westpac, which has withdrawn from multiple regional centres, said it also had paused regional branch closures until at least 2027 while it strengthened its physical banking services.

“We’re investing $150 million in our branch network over two years for upgrades and new sites,” a Westpac spokesman said.

“In 2024, we announced a pause on regional branch closures until at least 2027 while we strengthen our regional banking services.”

Despite the bank’s assurances, the Finance Sector Union warned that unless legally binding obligations were imposed, the branch exodus was likely to continue through 2025.

Originally published as Bank exodus hits Qld hard: towns left with no branch | MAP