Financial services major Commonwealth Bank is to remain the Western Australian Government's sole supplier of transaction banking and related services, representing about $45 billion a year in transactions.
Commonwealth bank retained the business as a result of a competitive tender process that was managed by the WA Department of Treasury and Finance.
The bank said it will will maintain 300 bank accounts on behalf of some 94 government agencies and manage around 70 electronic banking sites, 1,400 merchant facilities and 1,100 EFTPOS terminals across the state.
Commonwealth Bank was first awarded the government's transaction banking business in 1999. In 2000, Commonwealth Bank was appointed as the Government's merchant service provider.
Commonwealth Bank general manager corporate WA Wayne Zekulich said winning this important tender represented another step forward in the development of Commonwealth Bank's long term partnership with the state government.
"Our success, based on designing a solution that meets the WA state government's total banking needs, is recognition that Commonwealth Bank continues to provide cost effective transaction banking outcomes in a very competitive industry," Mr Zekulich said.
"The Commonwealth Bank has a long term focus on Western Australia and we see significant growth opportunities in the state. Our current business banking growth strategy includes opening a number of new business banking centres in both metropolitan and regional WA," Mr Zekulich said.
He said working with governments around Australia is an important part of Commonwealth Bank's business offer.
Commonwealth Bank has a national team that focuses solely on the government industry sector which, it says, enables it to provide solutions at a state level that draw on global and national best practice.
