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CBA cuts staff, branch and ATM numbers

12 August 2016 4:21PM

Commonwealth Bank has taken a more measured approach to cutting staff and branch numbers than a couple of its rivals over the past few years but it is cutting all the same.Staff numbers in Australia fell 2.1 per cent to 41,400 in the year to June and in New Zealand by 1.7 per cent to 5700. CBA branch numbers in Australia fell from 1147 at the end of the 2014/15 financial year to 1131 at the end of June - a 1.4 per cent reduction.It has converted 82 branches to "express branches", which are smaller and have a "focus on self-service."In New Zealand the number of branches fell 2.2 per cent to 133.ATM numbers fell 1.3 per cent to 4381 in Australia and 3.3 per cent to 445 in New Zealand.In Australia, the total number of branch deposits and withdrawals fell from 68 million in 2014/15 to 59 million last financial year. The number of ATM transactions fell from 270 million to 261 million over the same period.The number of point of sale transactions grew from 1.5 billion to 1.7 billion and the number of internet transactions grew from 528 million to 606 million.While branch transactions accounted for only two per cent of total volume they represented 34 per cent of the value.

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