Big Banks lose Sydney Markets’ customers to competition


The Big Banks are paying the price for decades of branch closures, lengthening queues and increasingly hands-off service, losing their customers to smaller, customer-focused competitors, according to Sydney Markets banker Queenie Cheng.

Queenie, Owner-Manager of Sydney Markets’ new Bank of Queensland branch which officially opened today, said the community’s growing disaffection with the big banks had drawn them to try and find a better service experience.

“A lot of the new customers flooding into my branch are simply after good service – things like being greeted personally, having staff look them in the eye when they talk and being served promptly and professionally,” she said.

”As both manager and owner of this branch, I can personally ensure my customers receive the very best service, something the head-office controlled corporate branches of other banks just can’t match.

“Bank of Queensland’s OMB model has given me the opportunity to create an environment where the relationship is a strong one - this is my business, I won’t get transferred, and I’m here for the long haul.”


Chairman of Sydney Markets, John Pearson, Bank of Queensland’s State Manager NSW, Stuart Edwards and a bevy of local community members turned out in force to celebrate something different - the opening of a new bank.

Mr Edwards formally welcomed the Bank’s newest Owner-Manager, thanking her for partnering with the Bank to take on the challenge of offering the community a fresh approach to banking.


“A number of experienced bankers have been discovering they can be their own boss and make a significant difference to the communities in which they serve,” he said.


“The OMB Model works by putting local people in charge of franchised branches in the local areas – rather than importing Queenslanders to manage the branch.


“Queenie has taken a big step to change the face of banking in Sydney Markets.”


Bank of Queensland Sydney Markets is a full service, easy access branch, offering highly competitive Business Banking and retail products, as well as trading on Saturday from 10am to 2pm.


The new branch is situated at Shop 4, Sydney Markets Plaza Building, Sydney Markets-Flemington and can be contacted directly on (02) 8736 1888.