Australia’s fastest growing bank is coming to Western Australia.
Bank of Queensland, currently Australia’s fastest growing retail bank, will open a branch in Subiaco next month.
The branch opening is the beginning of a major push by BOQ into the Western Australian market.
Bank of Queensland, which was founded 132 years ago, began an aggressive expansion program four years ago and will have opened 75 new branches outside its home state by August this year. The Bank has a total of 190 branches across Australia.
With WA and Queensland leading the nation in resource development and export income, the Bank believes opening a branch in Subiaco represents a natural financial link between the two states.
BOQ’s push into WA will be supported by the Bank’s existing Debtor Finance and Equipment Finance presence in West Perth, network of over 150 ATMs in WA alone, and plans are underway to add a business banking team over the next couple of months.
Subiaco will be a BOQ Owner-Managed Branch, which means that a local manager will provide the full range of products and services accessible at all the major banks.
Managing Director David Liddy said Bank of Queensland was looking forward to introducing its unique customer services to WA.
“Our OMB Model allows first class local bankers to not only manage, but to own their very own branch, and offer genuine service to the community,” he said.
“Bank of Queensland will bring the best of both worlds to Western Australia – all the security and strength of one of Australia’s oldest and most successful banks combined with the service and local knowledge of a small business.
“Owner-Managed Branches, which deal with everything from small cheque and savings accounts through to home loans and commercial transactions, have already had great success across Queensland, New South Wales, Victoria, and Canberra.
“While many banks are closing branches, reducing their contact with customers and re-directing them to automated call centres, we will be making a difference.
“That difference will be to provide genuine one-on-one personal contact.”
The Subiaco branch will be at Crossways Shopping Centre on the corner of Rokeby and Bagot Roads and will be owned and managed by experienced local banker Tania Watton who has been in the industry for more than 22 years.
Tania believes that WA’s dynamic economic growth and current boom provide the ideal climate for Bank of Queensland to enter the local market.
“I see parallels between Queensland and Western Australia,” she said. “They are both vibrant, progressive states with lots of opportunities.
“I’m genuinely excited at being able to bring Bank of Queensland’s friendly, personalised customer service philosophy to Subiaco.”
“As far as I am concerned, customer focus is everything.”
Tania said that when customers come to Crossways they would have the opportunity of doing business directly with her.
Her experience had shown that customers wanted to deal with a bank that was accessible, locally based and understood the local community. These were the qualities that the Bank of Queensland Subiaco would offer.
She added: “We are aiming to be the most reputable banking player in the market, based on our understanding of local business, our desire to build strong relationships and our ability to provide financial solutions.”