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ASB is scheduled to close 23 branches across the country, and another 13 branches will be moving permanently at reduced hours.
Branches will close in February.
The move will see closures in Auckland, Wellington and a few other hubs. The reduction in hours primarily affects regional communities such as Dargaville, Masterton and Ashburton.
ASB Retail Banking Executive General Manager Craig Sims said the pandemic had accelerated a trend in customer behavior that was already underway.
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ASB permanently closed another nine branches in August.
“We’ve made significant investments in our self-service channels in recent years to meet changing customer expectations, but the pandemic accelerated the pace of change, challenging us to rethink what customers expect from a bank,” said Sims.
Kirk Hargreaves / Things
ASB is slated to close 23 branches across the country, with another 13 going on reduced hours.
More than 60,000 ASB customers used the bank’s online and digital banking services for the first time this year, he said.
Sims said there would be no job losses due to the closures.
Staff from closed branches would move to customer service online or by phone, he said.
Once the closings were completed in March, ASB would have 86 branches across the country.
First Retail Group Managing Director Chris Wilkinson said there were concerns that the closing of ASB branches would open the floodgates for other banks, leaving some small shopping centers without a physical banking presence.
“This leaves a swath of people without bank representation,” he said.
“On the one hand, we understand that people are moving online, but on the other hand, we were seeing a small retail renaissance in these suburban areas and banks are central to these commercial spaces.”
Other banks have also been cutting branches. Westpac announced the closure of seven branches in May.
Also in May, BNZ also started inquiring about branch closures.
When the banks left the areas, it was very difficult to find businesses to enter the empty sites, Wilkinson said.
Large banking spaces generally ended up being occupied by $ 2 stores, he said.
Cameron Burnell / Stuff
First Retail Group Managing Director Chris Wilkinson says bank branches are critical to community retail centers and ASB’s exit could have a significant impact.
Age Concern CEO Stephanie Clare said she had spoken with ASB about the impact the closures would have on older communities.
“Banks want to help their clients, so ASB has established systems to support their senior clients,” Clare said.
Having access to banking services was important to the communities, he said.
“There are many barriers to online banking, including a lack of understanding of what online banking is and the ability to navigate online banking websites. The other is, of course, the huge digital divide. If you don’t have access to devices and the internet, it will be a barrier to having a way to manage your money. “
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Stephanie Clare, CEO of Age Concern, says banks are testing ways to help older customers and those without Internet access at home.
Banks are running a shared center test for areas without dedicated branches.
ASB branches closing in February are Paihia, Whangaparaoa, Devonport, Birkenhead, Browns Bay, Greenlane, Howick, Constellation Drive, St Helliers, Wyndham, Lincoln Rd, Dominion RD, Manurewa, Blockhouse Bay, Cameron Rd, Morrinsville, Havelock North , Taradale, Terrace End, Kilbirnie, Johnsonville, Ferrymead and Queenstown.
The branches in Kaikohe, Dargaville, Mangere Bridge, Matamata, Te Awamutu, Masterton, Rangiora and Ashburton will be moving three days a week.
The Smales Farm, Cambridge, Hawera, Westport and Gore branches will be open Monday through Friday from 12.30 pm to 4.30 pm.
