NAB to close 13 branches across the country in 2024

NAB is set to continue closing down its branches across the country, with 13 on the chopping block this year.

The branch said the decision was “difficult” but that it was made due to changing customer banking habits.

“With more customers choosing to bank online, over the phone, or by video, and because fewer customers are using branches to do their banking, we’ve made the difficult decision to close some of our branches,” it said on its website.

Get in front of tomorrow's news for FREE

Journalism for the curious Australian across politics, business, culture and opinion.

Read now

Four states will be impacted by the closures. Read the full list below:

ACT

Tuggeranong - closing Thursday, March 7

NSW

Balmain - closing Thursday, March 7
Broadway - closing Thursday, February 1
Lithgow - closing Wednesday, April 24
Oberon - closing Tuesday, April 23
Scone - closing Thursday, March 7

QLD

Bribie Island - closing Thursday, February 1
Pittsworth - closing Thursday, April 18
Runaway Bay - closing Thursday, March 7

VIC

Bright - closing Thursday, April 18
Emerald - closing Thursday, March 7
Mount Waverley - closing Thursday, February 1
Whittlesea - closing Thursday, February 1

On its website, NAB has provided an alternative branch option and the nearest post office which offers Bank@Post for each location.

It also provided further information as to why each location is closing, including a breakdown of how many customers have been using the branch.

For example, 54 per cent of customers in Morewell, Victoria have only visited the branch once in the last year.

Only 6 per cent of Morewell customers rely solely on branch-only banking. The overwhelming majority (73 per cent) are registered for online and/or telephone banking.

In NSW, 51 per cent and 57 per cent of customers in Oberon and Lithgow respectively have visited their local branches once in the last year, with NAB saying that most customers are using other locations instead, such as the refurbished branch in Bathurst.

NAB retail executive Krissie Jones told 7NEWS.com.au no employees would lose their jobs, and they had been offered other roles at the bank.

She said the decision to close more branches in 2024 was done with “the community and our customers in mind”.

“Over the last few years, we’ve seen the single largest transformation in banking in Australia’s history as more of us choose to bank digitally,” Jones said.

“Our customers now have banking technology at their fingertips, through their devices, and more than 93 per cent of customer transactions now take place online.

“We acknowledge that big change is not always easy and reshaping our branch network sometimes requires difficult decisions.”

Twenty-three NAB branches closed in 2023: