BOQ to have 20 new interstate branches by Christmas

Bank of Queensland has announced it would have 20 branches open in New South Wales and Victoria by Christmas.


Managing Director David Liddy said that the second wave of 15 new interstate branches would cover regional, suburban and CBD locations in both states, and build on the opening of the Bank's first five interstate branches last month (August).


This latest roll-out will bring the bank to 157 branches in total by Christmas, of which 20 will be in New South Wales and Victoria, Mr Liddy said.


In fact, we will be virtually opening a branch a week over the next four months as part of our interstate roll-out, Mr Liddy said.


Importantly, Bank of Queensland will also have its first Sydney CBD branch and its second Melbourne CBD by November.


The next eight of the new branches, which are expected to be open by November, include Sydney CBD, Dee Why, Menai and Grafton in New South Wales and Richmond, Doncaster East, Melbourne CBD and Geelong in Victoria.


Confirmation on remaining new branches for the calendar year will be made closer to the time of opening. BOQ opened branches in Byron Bay, Kingscliff, North Parramatta, Melbourne CBD and Frankston last month.


Bank of Queensland has announced it will open a total of 100 interstate branches by August 2006. BOQ currently has 137 Queensland and five interstate branches for a total of 142.


All of the new interstate branches are being opened under Bank of Queensland's unique Owner-Managed Branch (OMB) model in which BOQ partners with local bankers who live and work within their local communities.


We are already seeing that the success of our Queensland Owner-Managed Branches is flowing through to our new Victorian and New South Wales OMBs, Mr Liddy said.


The early feedback from our interstate Owner-Managers has been extremely good, with strong lending and deposit figures already coming through after only a few weeks.


This success can be attributed directly to the quality of the bankers who have been attracted to the Bank's unique customer service focus.


We are a new wave in banking when it comes to service delivery because every one of our bank managers is empowered to deliver exceptional, one-on-one service, he said.


Customers like the fact that the manager is there to stay, that the branch phone number is in the book, and that decisions can be made locally by staff who know the local people and the local market.


Bank of Queensland has also been overwhelmed by the number of quality bankers who have been attracted to take up the opportunity of managing and owning an OMB.


We are getting the best of the best coming over to us. They are bringing the highest levels of personal service and decades of experience in banking, as well as genuine local market knowledge and understanding, Mr Liddy said.

This massive branch expansion is a people-led strategy and its success comes from Bank of Queensland being able to select the very best bankers to become owner managers.


The success of the roll-out so far proves that Australians do want genuine service from their banks, rather than automated phone messages and faceless call centres.


By Christmas this year, 99 of Bank of Queensland's 157 branches will be OMBs, with the remainder corporate branches.


Bank of Queensland is supporting its branch roll-out with more than 1800 ATMs, its national equipment finance business and dedicated business bankers. BOQ is a full-service bank which also offers insurance products, Internet and EasyPhone banking and dedicated business and SME-focused products.