Bank of Queensland opens four branches in three states in eight days

Bank of Queensland has ramped up its branch expansion program, opening four branches in three states in just eight days, including its first Sydney and Melbourne locations.


The latest branches give the Bank five branches in New South Wales and Victoria and bring its total retail network to 141.


The Bank today opened its first Sydney branch, in North Parramatta, and will open its first Melbourne branch, in Bourke Street in the CBD, on Tuesday (24 August).


Branches in Byron Bay and Kingscliff in New South Wales and Frankston in Victoria have already opened and are being well supported by the local communities.


These are the first five of 100 Owner-Managed Branches™ the Bank will open in New South Wales and Victoria by August 2006.


The Bank also further expanded its Queensland branch network with the opening of new branches at Keperra and Bribie Island, to Brisbanes north.


Managing Director David Liddy said the opening of Bank of Queenslands first interstate capital city branches was an important milestone in its interstate expansion plans and indicated the branch was getting traction in the southern states.


We are already looking at other sites in Sydney and Melbourne, including more CBD locations, so we can build our presence in the high street as well as in key suburban and regional locations, Mr Liddy said.


As demonstrated by the location of our 455 Bourke Street branch, situated smack bang between the national headquarters of two major bank, we are not frightened to take on the big boys with the enhanced face-to-face service proposition offered by our Owner-Managed Branches™.


Our ongoing success in Queensland continues to support independent research conducted in the southern markets that showed Australians were looking for an alternative bank which offered genuine, friendly person2person™ service.


In this respect, our Owner-Managed Branch™ concept heralds a new era in customer service in New South Wales and Victoria and places us in an excellent position to achieve market penetration simply by sticking to our fundamentals.


The experienced bankers who manages our new branches also own them and, like any small business person, will go out of their way to keep their customers happy.


We continue to receive approaches from bankers interested in investing in Owner-Managed Branches™ in New South Wales and Victoria, and we expect this interest to increase in line with our interstate footprint, Mr Liddy said.


Bank of Queensland is continuing negotiations with other potential New South Wales and Victoria owner-managers and will announce further sites throughout both States as they are confirmed.


Bank of Queensland will support its interstate branch rollout with a network of more than 1000 BOQ ATMs already in place in NSW and Victoria, and its BOQ Equipment Finance offices in Sydney and Melbourne.