Bankwest closes more Perth branches

Another two Bankwest Perth locations are set to close as the bank grapples with the decline in branch use due to surging digital transactions.

The Commonwealth Bank subsidiary confirmed it will close its Wembley and Success branches on March 14 and March 21, respectively, attributing the decision to changing customer preferences.

Its Mt Lawley, Maddington and Kununurra storefronts are reportedly also set to shut early this year.

It comes after the bank moved to close its Baldivis, Osborne Park, South Perth and Subiaco branches in the second half of 2023.

Bankwest general manager of personal banking Scott Spittles said digital transactions now accounted for about 97 per cent of all transactions.

He said fewer than 2 per cent of customers visited a branch regularly.

Mr Spittles said the company intended to retain staff affected by the decision. He said that, over time, Bankwest aimed to grow as a Western Australia-based, world-class digital bank with the expectation to operate fewer branches in the future.

But Mr Spittles said the bank could not speculate on a timeframe for that transition.