BOQ hits target of 75 branches outside QLD

Bank of Queensland today announced it has reached its target, first flagged at last year’s full-year results announcement, of 75 branches outside Queensland by August 2006.


BOQ Managing Director David Liddy said today’s opening of Marrickville branch in Sydney’s inner west brings the Bank’s total branch network outside Queensland to 75.


“The opening of our Marrickville branch is a milestone for the Bank, and demonstrates that we are serious about our aggressive branch expansion program and committed to meeting our targets.


“We are continuing to open branches right across the country, and now have a presence in all Australian states and territories.


“The opening of the Marrickville branch brings our branch network to 48 in NSW and a total of 215 across the country.”


Mr Liddy said the success of the Bank’s rapid expansion outside its home state has been made possible by the unique Owner-Managed Branch Model combined with its focus on genuine person2person customer service.

“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,” Mr Liddy said.


“Owner-Managers are given incentives to build their own businesses and manage their local markets. This approach ensures that the Owner-Manager has the ability to make local decisions based on local knowledge, within the framework of the Bank’s broader risk management policies.”


Bank of Queensland Marrickville is owned and managed by local residents Brian Trinh, Donald Nguyen and Kevin Thich who said the Bank’s quality products and focus on superior customer service had enticed them to buy their very own branch.


”We are really excited to be able to offer a genuine alternative to the major banks,” said Mr Trinh.


“We have made a significant financial commitment to the community and really want to change the face of banking in the Marrickville area.


“Buying our own branch enables us to grow with our customers and help find financial solutions to their changing needs through the different stages of their lives.


“The key to Bank of Queensland’s service approach is that customers can come into the branch and talk directly to us, the Owner-Managers, about their finances. They don’t have to use Phone or Internet Banking or call an automated call centre if they don’t want to.


“What’s more, I am my own boss, so I can spend as much time as I want to with my customers, even visit them at their home or office if this is more convenient to them.


“We’re also open on Saturdays, because that’s when a lot of our customers have time to come and talk to us,” he said.


Bank of Queensland Marrickville is located at 252 Marrickville Road, and can be phoned directly on (02) 8512 1055.