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BankWest keeps the locals happy

BANKWEST has taken the number one position in the WA Business News 2002 Book of Company Lists, which ranks banks in WA by the total amount of deposits held in WA.

With total WA deposits of $10.771 billion, BankWest is streets ahead of second place on the list, with double the amount of total WA deposits as Westpac/Challenge Bank, which has moved from third place into second in 2002.

Westpac/Challenge Bank’s total WA deposits increased from $4.561 billion in November 2000 to $5.337 billion in November 2001.

The Commonwealth Bank of Australia slipped from second on the list to third as its total WA deposits dropped by more than $1 billion dollars from $6.2 billion in 2000 to $5,183 billion in 2001.

National Australia Bank retained fourth place on the list, with total WA deposits increasing to $4.3 billion in 2001, up from $4.134 billion in 2000 – an improvement of $166 million.

ANZ Banking Group held on to fifth position for the second year running on the list, as its total WA deposits improved to $3.958 billion dollars for 2001, up $447 million from 2000.

The best performance from the smaller banks came from St George Bank Limited, which substantially increased its total WA deposits from $467 million in 2000 to $672 million in 2001, an improvement of $205 million.

The trend by banks away from face-to-face customer service is also particularly evident when comparing the number of branches and ATMs in WA in 2000 compared with the figures for 2001.

Out of the top five banks in the 2002 WA Business News Book of Company Lists, BankWest was the only one that actually increased the number of branches in the State, recording an increase of one to 89 branches.

BankWest also significantly increased the number of ATMs available to the public in WA, increasing by 58 to 1044.

Of the other top five banks, Westpac/Challenge Bank recorded the biggest number of branch closures. The number of Westpac/Challenge branches in WA dropped by 28 from 108 in 2000 to 80 in 2001.

The branch closures by WestPac/Challenge Bank were supplemented by the installation of 12 new ATMs within WA.

National Australia Bank also recorded a significant number of branch closures in WA with numbers declining from 86 branches in 2000 to 67 branches in 2001. The NAB also significantly increased the number of ATMs in WA from 119 in 2000 to 165 in 2001, an increase of 46 ATMs.

ANZ Banking Group recorded the smallest number of branch closures out of the top five banks with only two branches closing in WA between 2000 and 2001. ANZ also reported the smallest increase in the number of ATMs in WA, with a rise of four to 108.

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