05/08/2014 - 18:09

NAB leads decline in business banking

05/08/2014 - 18:09

Bookmark

Save articles for future reference.

The business banking sector is shrinking in Perth, with falling staff levels and bank branch closures the latest signs of a cooling Western Australian economy.

NAB leads decline in business banking
NAB's Northbridge branch.

The business banking sector is shrinking in Perth, with falling staff levels and bank branch closures the latest signs of a cooling Western Australian economy.

Latest Business News BNIQ research shows business banker employees at the 10 largest financial institutions in WA had fallen 14 per cent compared with numbers collected at the end of 2013, to 1,625.

The majority of the fall came at NAB, where business banking staff dropped from 476 to 225.

NAB, which has been considered by many to be a business banking specialist among the majors, slipped from second to fourth on the list. 

However, it appears the employees may have been redeployed in other parts of the NAB business, with its total staff remaining static at 1,550. Its commercial business centres also remained unchanged at 20. 

NAB also maintained its total number of branches at 68.

But there were significant reductions in the number of branches at other banks, with outlets across the 10 largest financial institutions falling from 505 to 485.

Westpac recorded the largest reduction, with 17 fewer branches than at the end of 2013 for a total of 94.

However, Westpac remained the top-ranked bank in terms of number of branches, just ahead of Bankwest, which was steady with 93.

ANZ Banking Group shut four branches, while the only bank to record an increase was Bendigo Bank, which opened one additional outlet. 

The remaining 10 largest banks in the list maintained their respective number of branches.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options