Foreign banks tighten grip on Australian agriculture as local banks retreat
A few weeks back I questioned the CBA on the rise of the foreign bank lending to our agricultural sector and how closing branches in the regions is making it harder for locals to use Australian banks.
Banking industry under fire: Banks sell out the battlers
Recently the head of the Australian Banking Association Anna Bligh appeared before the RRAT committee in regards to branch closures.
She was unable to answer how much income banks collect in electronic transaction fees. No doubt because it would be embarrassing to admit that shutting down branches actually increases profits for the banks.
Giving people warning of a bank branch closure isn’t upholding a social license
Whether you give 5 minutes notice or 5 years notice, Banks have an obligation under their social licence to keep branches open in the regions.
