ACT growth leads to third Bank of Qld branch


Bank of Queensland has taken advantage of the ACT’s continued strong growth and its own ongoing program of expansion to open a third Owner-Managed Branch in the capital today.


Located at the Hyperdome Shopping Centre in Tuggeranong, the new branch links with Bank of Queensland’s other branches at City Walk and Belconnen and local network of 17 ATMs in servicing the fast-growing Canberra region.


Bank of Queensland Tuggeranong is owned and managed by local businessman Stan Jordan, who said he planned to tap into the continued powerful growth in the city and make a real contribution to the enormous future potential of the nation’s capital.


“Despite having the second highest per capita income in Australia and exhibiting well above-average growth over the past decade or so, Canberra has really been treated with a hands-off approach by the major banks,” Mr Jordan said.

“The ACT Government is currently approving more than $150 million in new residential developments every month, and we have major new housing estates springing up in all corners of the ACT.

“In addition there are 20,000 small businesses in the ACT which – like many businesses across Australia –have been largely left to their own devices by the big banks,” Mr Jordan said.

“Bank of Queensland, with its philosophy of putting local owner-managers with extensive experience, local knowledge and a direct personal interest into their branches, will make a major contribution to the Canberra economy.

“Like my fellow Owner-Managers at City Walk and Belconnen, I am empowered to use my 24 years’ banking experience, local knowledge, community networks and belief in relationship banking to really make a difference to this city.

“I am my own boss in terms of customer services, whether it be lending a young family money for their first home or providing funds for a local business to expand, I am able to personally focus on each and every customer to make sure their needs are met,” Mr Jordan said.

The branch, BOQ’s 63rd outside Queensland and its 203rd overall, will create three local jobs.

Managing Director David Liddy said more and more experienced bankers like Mr Jordan were approaching the Bank looking to invest in an Owner-Managed Branch.

“Bankers of Stan’s calibre see not only the enormous financial potential for BOQ’s top Owner-Managers but also their only chance to get back to what banking is all about – helping their customers and the local community,” Mr Liddy said.