Commonwealth Bank closes Swansea branch, breaking regional pledge
Commonwealth Bank is closing its Swansea branch on December 11, breaking an August pledge to keep regional branches open through 2030.
Commonwealth Bank is shutting its Swansea branch in the Hunter region on December 11. The closure affects a community with many pensioners and small businesses who rely on face-to-face banking.
Swansea MP Yasmin Catley called the decision "rotten" and said customers who have banked there for decades would now have to travel further. CBA claims Swansea is classified as metropolitan.
It says that means the branch is exempt from its regional closures moratorium. In August, CBA chief executive Matt Comyn promised the bank would keep its regional branches open through at least December 2030.
The bank is investing $115,000 in the nearby Belmont branch. It plans to install an ATM in Swansea.
- December 11
- Closure date
- 115,000 dollars
- Belmont investment
- 281
- Regional branches maintained
Why it mattersBank branch closures reduce access for older customers and small businesses who prefer face-to-face service, and reveal how classification loopholes let banks sidestep public commitments.
AustraliaPensioners and small businesses in Swansea must travel further for in-person banking, and other communities with similar demographics may face similar closures using the same metropolitan reclassification.
