ASB to close bank branches

Thursday, 18 January 2024

ASB will close four bank branches in Auckland from the end of February, and will not reopen its Willis St branch in Wellington.

The bank said the changes to its network reflected changing customer behaviours.

The Auckland branches affected are Milford, Wellsford, Waiuku and Mangere Bridge.

Adam Boyd, ASB executive general manager of personal banking, said it was investing more in digital and phone banking, where there was more demand, and would put more staff into busier branches such as Albany, Takapuna, Pukekohe, Warkworth, and Lambton Quay.

“Over the past four years, we have seen customer visits to the branches we are closing steadily decline, with one of our quietest branches seeing an average of just 14 customers through the door each day.”

He said Milford had an 83% drop in branch counter transactions between 2019 and 2023.

Wellsford branch transactions were down 92%, Waiuku 89%, Mangere Bridge 92% and Willis St 91%.

“Closing a branch isn’t a straightforward decision and we know there will be some customers, who still visit these branches, disappointed by this news,” he said.

“We’ re committed to supporting them and ensuring they continue to receive the level of service they require going forward. We will reach out to customers who regularly use these branches to let them know about these changes and how we will support them through the transition. Members of our business banking and community banking teams will be on the ground in these branches to help support with the transition, and we will work closely with customers who may need extra support, including engaging with Age Concern to offer workshops to its members.”

He said the closures would leave the bank with 80 branches across the country.

He said ASB would invest in digital banking channels significantly over the next five years, including its mobile app.

Affected staff would be offered other jobs with ASB, he said.