It’s taken many years but it seems Australian banks have finally realised that they were wrong to run from customers and close branches. According to today’s newspapers the major banks are busy opening or planning the opening of branches. Duh! Banks are service businesses. By opening more branches and providing better customer service sales will increase as will profits. While retreating from customers might have lowered costs, the benefits were short term. Customers soon started drifting to banks which offered service.
Of course the banks are not opening these extra branches as a community service. This is still about profit and it fixes their earlier mistake.
It’s frustrating that while most of the banks stumbled over this customer service issue small business, in the main has remained focused on delivering good service, locally.