Traditional branches appeal to banks

Westpac's investment in branches under the Bank of Melbourne brand is responsible for most of the increase in the number of full service branches of banks, building societies and credit unions recorded by APRA it its annual report on "points of presence" of the industry.

Banks staffed 6809 branches at June 2012, up 78 from a year before.

The largest increase in branch numbers was in Victoria with 37 additional branches. Branch numbers increased by 17 in the Northern Territory, partly through a wider level of services for Traditional Credit Union. Banks also opened 17 new branches in New South Wales.

The rise is the number of branches of banks in the data and the corresponding fall for credit unions and building societies is explained by the conversion of six of the latter to mutual banks.