Bendigo Bank will shut down 10 branches across three states, leaving five regional communities without any financial services.
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Bendigo Bank announced it will shut down 10 branches across three states, leaving five regional communities without any financial services.

The branch closures — six in Victoria, two in Queensland and two in Tasmania — will begin as early as August 1 and is slated to conclude by October 31.

A full list of the affected branches can be found below.

Bendigo Bank will shut down 10 branches across three states, leaving five regional communities without any financial services.
Bendigo Bank will shut down 10 branches across three states. (Supplied)

The bank attributed the decision to a review into changing customer preferences, reduced business activity and increased costs.

Bendigo Bank Chief Executive Richard Fennell said closing down branches was a last resort.

“To preserve what makes our bank unique, we must balance our physical network presence with the need to continue investing in the changing preferences of our 2.7 million customers,” he said.

Bendigo Bank is working with affected staff and exploring opportunities to redeploy them to other parts of the business.

9news.com.au understands there are about 30 staff members impacted by the closures.

Finance Sector Union National Secretary Julia Angrisano has written to Fennell to urge him to reverse the decision as five regional communities — Bannockburn, Korumburra and Yarram in Victoria, Malanda in Queensland and Queenstown in Tasmania — will lose the last of their bank branches.

Bendigo Bank will shut down 10 branches across three states, leaving five regional communities without any financial services.
Bendigo Bank Chief Executive Richard Fennell. (Supplied)

“The largest impact from this decision will be felt in the bank’s home state of Victoria with six branches closing including larger regional branches in Geelong and Ballarat, and a suburban branch in South Melbourne,” she said.

“This is an incredibly disturbing development and does not bode well for the future of Bendigo Bank’s presence in regional Australia.

“For a bank which proudly has its regional centre hometown as part of its name, and is fondly known for its community branch network, this decision feels very ‘big bank’ for all the wrong reasons.”

Fennell insisted Bendigo Bank had more branches per customer than any other Australian bank and operated the second largest regional branch network.

“We are proud of our regional heritage and in order to continue delivering for our customers and communities we must ensure our branches are adequately supported and resourced,” he said. 

Bendigo Bank will shut down 10 branches across three states, leaving five regional communities without any financial services.
Bendigo Bank had more branches per customer than any other Australian bank. (Supplied)

Bendigo Bank branch closures

  • South Melbourne on August 1
  • Malop Street Geelong on August 1
  • Bannockburn on September 25
  • Yarram on September 26
  • Korumburra on August 29
  • Ballarat Central on October 31
  • Malanda on September 26
  • Tully North on September 26
  • Kings Meadow on August 1
  • Queensland on September 26
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