Banking

Why I spent a year counting every bank in regional Australia

Dale Webster, The Regional - 5 September 2022

I have spent more than a year counting banks. It’s not an introduction to a story I could have foreseen myself writing 12 months earlier but when News Corp started cutting jobs in the rural mastheads, I found myself with time on my hands and a lot of unfinished business ... The “big four” (ANZ, Commonwealth, NAB and Westpac) started pulling out of regional Australia more than 30 years ago and one of the obstacles to reporting on this has been that there still isn’t a clear picture of the scale of closures.

‘Big Four’ banks casting a dangerous shadow

Dale Webster, The Regional - 5 September 2022

Casterton, Grenfell, Home Hill, Nathalia and Toukley. Five Australian towns that were until recently set apart by one dubious achievement shared by no others: they had all lost a full hand of the “big four” banks – ANZ, Commonwealth, NAB and Westpac – since the 1970s. The days when all four branches were still open in these places was a time when banks were major employers in a town and the managers treated like kings because of the power they then had to make decisions locally that could make or break a business.

Survey shows rural debt rise since 2019

Ted Rogers, On Our Selection News - 25 August 2022

Rural debt has increased by $3.34 billion, or 13.89 per cent, on the Eastern Darling Downs regions according to the 2021 Queensland Rural Debt Survey. Over the same period, total rural debt in Queensland has risen to $24.06 billion, an increase of 25.97 per cent ... Since the survey was conducted in December 2021, much of the State has experienced an extended La Niña season with several major flooding events, particularly in South East Queensland.

Council unhappy at bank closure

Narrandera Argus - 18 August 2022

The Narrandera Shire Council will formally object to the closure of the National Bank branch at Narrandera and will review its banking arrangements following the procurement of a new enterprise management system later this financial year. The bank advised that the decision to close in October was predicated on a decline in physical transactions conducted in the branch...

Macquarie wrap up Australia’s largest cotton station

Nelson Yap, Australian Property Journal - 31 March 2022

Australia's largest irrigated cotton property, Cubbie Station, is back in local hands after Chinese textile giant Shandong Ruyi sold its remaining stake to co-owner Macquarie Asset Management. Cubbie Station is responsible for around 10% of the country’s cotton output and is now entirely held by the Sydney-based company.

New Barellan PO owners excited to provide services

Narrandera Argus - 17 February 2022

Sean Cunningham. Barellan Post Office, which is also the town’s financial centre, is under new ownership. The new owners Fiona Kibble and Cameron Rouse believe that investing in the post office has been the "best decision" they've made in a long time.

Bank access concerns build

Michael Waite, Naracoorte Community News - 29 October 2021

Sheryl Lowe. Banking is challenging in Millicent and Districts for some members of the community since the ANZ Bank reduced their business hours last year. With this week’s announcement the Naracoorte ANZ will close in November, the future of the ‘big banks’ is being questioned by customers. The Millicent ANZ Bank now only opens on weekdays from 9.30 am to 12.30pm which leaves little opportunity for businesses to bank the days takings ... When Banks announce they are reducing their trading hours or closure they often encourage clients to use the local Post Office for their banking needs, but this can be problematic too.

Taskforce to probe bank branch closures in Cowper

The Editor - 28 October 2021

A Regional Banking Taskforce established by the Liberal and Nationals Government will bring welcome focus on the impact of bank branch closures on regional communities Pat Conaghan Federal Member for Cowper has said.

Post office owners are the new bank tellers as big banks leave country towns

Susanna Freymark, indyNR.com - 27 October 2021

Coraki Post Office owner Steve Taylor knows how difficult banking can be for residents when they are unable to travel to their closest bank in Lismore or Casino. “One lady in her 80s who is born and bred in Coraki got caught out with no cash,” Mr Taylor said. She banked with ANZ and with the bank’s branches closed in Coraki and Casino, she wanted to get money from the post office. She couldn’t because ANZ don’t have a banking agreement with Australia Post.

Carbon partnership giving opportunities in the Cape

Matt Nicholls, Cape York Weekly - 19 October 2021

A partnership between the Aboriginal Carbon Foundation and a major bank has helped preserve Cape York country and employ a number of Traditional Owners. As part of the Commonwealth Bank of Australia’s carbon neutrality, the bank supports traditional Aboriginal fire management generating Australian Carbon Credit Units for the second year running.

Small towns and big banks

The Editor - 13 September 2021

Under the State Purchasing Contract, all Victorian government entities such as local councils, schools, kindergartens and health facilities will be forced to bank with either the NAB, Westpac or the Commonwealth Bank. It is a move that is being strongly rejected by towns that rely on community banks ... “The big banks abandoned country Victoria in recent years – the last thing we should be doing is rewarding them with guaranteed business": Bev McArthur, Member for Western Victoria Region.

Commbank beefs up sustainability loans for agricultural sector

Nelson Yap, Australian Property Journal - 29 July 2021

Queensland beef producer Stockyard Group has entered into a sustainability-linked loan (SLL) with Commonwealth Bank, in what is an Australian first for the agriculture industry. The three-year loan has been described by Commonwealth as a landmark transaction, with Stockyard engaging in sustainability measures than will include reducing emissions and a greater emphasis on animal welfare and on people’s well-being.

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