Nab to close victorian branches

The National Australia Bank is set to close at least six branches in Victoria, Australia...

The bank confirmed this afternoon that it would shut branches in Mitcham, Balwyn North and Mill Park and also on the Mornington Peninsula at Balnarring, Mount Martha and Rye.

A spokeswoman said a report that the Blackburn branch would close was not correct while Donald was still under review.

But the Finance Sector Union said eight branches would close.

The closures are part of a continuing wide-spread review of the bank's operations as more customers take up internet and phone banking.

The bank Spokeswoman said, under the review, some branches were relocated, others were made larger and some deemed unviable.

Across Australia, NAB employs 6000 workers in more than 750 branches but the bank was unable to say how many employees worked at the branches to be closed.

Where possible, staff will be moved to work at other locations with redundancies offered to those that can not be redeployed.

"NAB continues to invest in its branch network throughout Australia and regularly reviews every local market to ensure we have the right mix of banking options for our customers," the Spokeswoman said.

"This ongoing analysis and investment means we have better branches in better places, providing improved and increasingly convenient banking for our customers."

She said NAB had invested more than £17 million in its branches.

"When NAB decides to close a branch the decision is not taken lightly, many factors are taken into consideration. One of the main reasons for a branch to close is because it has seen a significant decrease in the number of people using it, particularly as more and more customers move to internet and telephone banking," she said.

The bank would not say when the branches would shut.

Finance Sector Union campaigning and bargaining director Wendy Streets said eight NAB sites would close this year, adding Malvern and a city Centre branch on Queen Street to the bank's list.

But she said the Union did not expect any staff would lose their jobs because other branches were "horrendously'' understaffed.

"We don't agree with any branch closures, especially in these times but we are confident that all staff should be redeployed within the network,'' she said.

"The only reason that we are confident that this group of staff will be redeployed is because there's such shortages in NAB.

"While we don't expect anyone to lose their jobs, it is a loss to the communities. It is never a good thing when staff have to tell customers they have built up relationships with that they will no longer be there.''

Ms Streets said she feared the NAB would move to close more branches under the review and that job cuts could be on the cards.

Source: www.theage.com.au