Business Services Industry
Customers bank on community network.
Australasian Business Intelligence, April, 2002
Apr 21, 2002 (The Sunday Telegraph
ABIX via COMTEX) -- Branch closures by major banks have stimulated the growth of community banking in Australia. Bendigo Bank's network of community banks is growing rapidly, with 25 new branches set to open in 2002. Bendigo currently has 61 community banks, according to the bank's chief manager of community banking, Russell Jenkins. InfoChoice's manager, Lisa Montgomery, advises that community banks are striking a chord within Australians concerned at the lack of banking facilities in their local area. Bendigo's community banking concept involves raising up to $A500,000 to create a 50/50 franchise arrangement between the bank and the community.
Publication Date: 21 April 2002
BENDIGO BANK LIMITED - ASX BEN:...
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