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March 6 (Reuters) - Commonwealth Bank of Australia's (CBA) Bankwest unit will transition to a digital bank in 2024, shutting 45 branches by October and converting the other 15 to CBA branches, the unit said on Wednesday.
As a part of the transition, 500 CBA group roles in technology, operations, and customer service will be redirected to Western Australia.
Every employee impacted by the closure would be offered "a new career opportunity", the 129-year-old Bankwest said.
"The decision for Bankwest’s digital transition in 2024 is influenced by rapidly changing customer preferences, with 97 per cent of all Bankwest transactions now completed digitally, and fewer than two per cent of customers visiting a branch regularly," it said.
The rural lender served about 1.2 million customers as at June 30, 2023. It was acquired by CBA in 2008 from HBOS Plc.
News: CBA UPDATE 1-CBA's Bankwest to close its branch network in digital transition
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