More regional bank branches closed in the year – APRA

Regulator is closely monitoring inquiry into bank closures

More regional bank branches closed in the year – APRA


By Jonalyn Cueto

The Australian Prudential Regulation Authority (APRA) has released its 2023 authorised deposit-taking institutions (ADIs) points of presence statistics. The report shows a detailed listing of the physical banking service channels made available to Australians, including branches, ATMs and EFTPOS facilities.

New statistics reveal a decline in bank branches in the year to 30 June 2023. About 420 branches across Australia have closed, with numbers down by 11%, and this includes 122 branches, or 7%, that closed in regional and remote areas. This downward trend has been seen in regional and remote areas, with branch numbers declining by 34%, and by 37% across the country compared to data gathered in June 2017.

In major cities, branches are down by around 12%, equivalent to over 300 branches, compared to last year. Meanwhile, in remote Australia, branch numbers are down by 13%.

At the state level, Victoria has the highest rate of decline in branch numbers, down by around 13%, equivalent to almost 130 branches. New South Wales has the largest number of bank branches, with over 1,100 remaining open. The state with the smallest number of bank branches available is the Northern Territory, with fewer than 50 branches available after four branches closed compared to 2022 data.

Source: APRA

APRA collects points of presence information from banks, credit unions, and building societies as the national data collection agency for the financial sector and publishes a report of the statistics annually. The agency is reviewing its points of presence statistics and began consulting with stakeholders earlier this year in response to a recommendation of the Regional Banking Taskforce. The feedback provided through submissions is currently being assessed, and discussions are ongoing with relevant stakeholders. A second round of consultation will be launched in 2024.

APRA is also closely monitoring the progress of the Senate inquiry into bank closures in regional Australia, and in a news release, has expressed its intention to continue to support the work of the inquiry.

Visit APRA’s website to see the latest ADI points of presence statistics.

Have thoughts about the new statistics? Let us know in the comments below.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!