A new Bank of Queensland branch opening soon in Newtown will increase banking services in the region, providing local residents with new business opportunities and greater convenience.
The branch, to be situated in King Street, will be locally owned and operated bringing a competitor to the big five who have dominated the banking market in Newtown.
Managing Director David Liddy said Bank of Queensland’s ongoing strong expansion in New South Wales and Victoria was central to its growth strategy.
“With our accelerated growth in Queensland giving us a full network in this State, it was logical to expand into the larger markets of New South Wales and Victoria to target future growth,” Mr Liddy said.
“Our unique Owner-Managed model™ enables us to offer customers a level of service corporate-owned big bank branches can’t. It allows top-notch local bankers to not only manage, but own their very own branch and offer genuine service to their community.
“The Owner-Managed Branch™, which is a full-service bank, not a limited service agency, has already been well received by the 27 communities BOQ has opened in throughout NSW.”
With almost four decades of experience in banking and small business, Owner-Managers and local residents Mark Ely, Yogini Patel and Pravin Patel have strong beliefs in the power of relationship banking.
“Our experience has taught us that bank customers want to deal with a bank manager who is accessible, locally based and understands the local community – everything Bank of Queensland Newtown will offer,” said Mr Ely.
“While other banks channel their small business and retail customers to call centres, Bank of Queensland is capitalising on its person2person™ banking philosophy and in-branch Owner-Managers to bring banking back to the people.
“Ownership of this small business allows us to understand the goals and operations of other small businesses and their need for personalised service,” he said.
“We see a lot of potential in Newtown and are here to support the development and growth of the local area as well as the wider community.”
The new branch will be a full service branch, offering highly competitive commercial and retail products, an ATM, and Internet banking facilities.