• Contact
  • Feedback
Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Westpac outsources social responsibility

26 September 2017 4:39PM
One of the most curious and perhaps indefensible public relations tactics used by major Australian banks is the practice of not announcing branch closures.In the last 24 months Westpac and its regional subsidiaries have closed around 70 retail branches - more than any other bank in the country. While some of the closures might be understandable and defensible in light of the continued growth of electronic banking, it is a poor look for any bank to be seen to be outsourcing responsibility for disclosing branch closures to an external stakeholder.It is now standard practice for news of Westpac branch culls to be 'leaked' to national media via the website of the Finance Sector Union.Nine more Westpac-owned branches were earmarked for closure last week, according to the latest update from the FSU.The branches are:•    Drouin, Gladstone Park, Bayswater, Lilydale and Doreen in Victoria;.•    Westmead and Toronto in NSW;•    Sandgate in Queensland; and•    Butler in WA.The FSU states on its website that 39 branch roles will be axed when the branches fold."Once again Westpac has blamed the decline in over-the-counter transactions and an increase in customers accessing mobile and digital banking options as factors in their decision to close these latest branches," the union reports on its website."What Westpac are not saying is that for a number of years, staff working in their branches have been expected to push customers to use mobile and digital banking options - it is a performance target staff are measured against."Even though there is evidence to support the case for branch closures, banks such as Westpac seem no longer willing to defend their business decisions.It is difficult to reconcile this practice with an organization that has claimed the gong for "Australia's most socially responsible bank" more than any other.It also raises questions about how serious Westpac takes its promise made in its most recent sustainability report to rebuild trust with community stakeholders.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use