NZ's four major banks to cut branch numbers to 50 each by 2030: Tripe

Mon, 18 May 2020

Updates from 5th paragraph with Westpac closures. New Zealand's four major banks will reduce their number of branches even faster as a result of the coronavirus crisis experience and each will be down to about 50 within 10 years, according to Massey University banking professor David Tripe. Previously, Tripe said he'd thought this would happen by 2035 but the experience of how banking functioned during the nation's 49-day lockdown would accelerate that. "What it's done is that it's forced people who were thinking about changing some p...

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