Home Australia Bank of Queensland shuts more than a dozen branches in shock move

Bank of Queensland shuts more than a dozen branches in shock move

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The Bank of Queensland (BOQ) has sparked outrage after announcing it will close more than a dozen branches.

The Bank of Queensland (BOQ) has sparked outrage after announcing it will close more than a dozen branches.

The move has been described by the union as “despicable” after the bank made the announcement on Monday.

One branch will close in Western Australia, three in New South Wales, four in Victoria and six in Queensland.

They will close from February 19 to 27 of this year.

“BOQ has made the difficult decision to close 14 branches as we continue to simplify operations and more customers embrace digital banking,” a BOQ spokesperson said.

‘We are focused on supporting our people throughout this process and are pleased to see the majority of team members transitioning to new roles in our network.

“As our branch network evolves in line with our business priorities and growth corridors, we remain committed to providing our customers with exceptional service.”

Financial Sector Union deputy national secretary Jason Hall described the closures as a “truly despicable move”.

The Bank of Queensland (BOQ) has sparked outrage after announcing it will close more than a dozen branches.

“Australians rely on local bank branches and no corporate branch of the banks can deny that fact,” Mr Hall said.

“Removing branches from local communities is a shameful act of betrayal by large businesses that care more about their profits than providing the local services that banks used to be proud to provide to their customers.”

Since 2023, nine branches have closed and the Financial Sector Union wants the federal government to intervene to protect rural banking.

The BOQ closed its Geraldton branch in Western Australia on Friday and the bank will close two more branches in Logan Central in Queensland on February 7 and Werribee in Victoria on February 13.

The BOQ has told its shareholders it would cut at least 400 jobs nationwide to digitize operations.

A list of BOQ branches that will close in February includes:

Queensland: Caloundra, Carindale, Elanora, Sherwood, Springwood, Toowong.

Victoria: Moonee Ponds, Richmond, Docklands, Hampton.

New South Wales: Newtown, Bella Vista, Rockdale.

Western Australia: Applecross

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