Standing Committee on Economics, Finance and Public
Administration
Media release, 27 May 1998
MAJOR BANKS STARTING TO RESPOND TO THE NEEDS OF REGIONAL AND REMOTE
AUSTRALIA
The Commonwealth Bank will appear before the Federal Government's banking
inquiry this Thursday 28 May.
Bank executives will front the Financial Institutions and Public Administration
Committee to outline measures to help rural and remote Australian communities
adjust to changes in the delivery of banking services.
Committee Chairman, Mr David Hawker MP, said he was encouraged by the
Commonwealth Bank's approach.
He said that finally a bank appears to be demonstrating a responsibility
to the community and its shareholders.
"My Committee has been very concerned by the casual way some of the
major banks have treated communities", Mr Hawker said.
"Many of these communities have been loyal to the banks for generations
and deserve more than an often hasty withdrawal of services."
"Bank closures seriously affect the social fabric and economic viability
of many small towns so we welcome the Commonwealth's decision to at least
leave an agency in a community which loses a full branch."
Mr Hawker said however, the Committee would still seek the bank's response
to the idea of the four major banks sharing a bricks and mortar branch
in towns facing bank closures.
He said so far much of the ill-will resulting from branch closures stemmed
from the way banks have gone about the process.
"At least the Commonwealth has set up branch closure protocol to address
that issue," Mr Hawker said.
"Perhaps this could be a starting point for an industry wide standard."
Mr Hawker said the inquiry would also look at the Commonwealth Bank's
relationship with Australia Post and the negative attitude towards it
displayed by the other banks.
Release ends
27 March 1998
Further information:
David Hawker MP (Chairman) 02 - 6277 4837
Janet Connaughton (Inquiry Secretary) 02 - 6277 2375
e-mail: EFPA.Reps@aph.gov.au
PUBLIC HEARINGS PROGRAM - CANBERRA
28 May 1998
House of Representatives
Committee Room 2R2 Parliament House
CANBERRA
Thursday 28 May 1998
10.15am - 11.15 am - Commonwealth Bank of Australia
- Mr Alfred Long, Head, Customer Service Division
- Mr Mukesh Parekh, General Manager, Channel Planning
- Ms Jill Lester, Head, Group Corporate Relations
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