Bundaberg Gets First Privately-owned Bank

Friday, 01/02/2008

Bundaberg now has its very first bank owned and operated by locals, with the Bank of Queensland branch on the corner of Barolin and Bourbong Streets set to be purchased by local businessmen Paul Devlin and Peter Glover.

The Owner-Managed Branch (OMB) is a concept unique to Bank of Queensland which gives experienced bankers the chance to own, not just manage, a bank branch. This is the first time the model has been employed in Bundaberg.

Paul and Peter, who have 35 years of combined experience in banking, said they were looking forward to running their own business and dealing personally with their customers – both increasingly rare opportunities in modern-day banking.

“It really is a different experience when you can truly look after your customers’ needs – you have so much more control but also more responsibility than a corporate branch manager,” Paul said.

“Owning a branch really is a great opportunity for any experienced business person with a background in finance, and one I would thoroughly recommend. 

“At the end of the day, we are like any small owner-operated business and our business is only as good as our customer service.  This means we go out of our way to make an impression!” Paul said.

Peter agreed, saying: “I’m really excited about bringing fresh ideas to banking, and to really looking after my customers.

“We can afford to spend time with our customers, so we really get to know them and their needs.

“As Owner-Managers, we plan to go the extra mile. If our customers can’t make it in to the branch, we are happy to go and visit them wherever is convenient for them to discuss their banking needs and requirements. We plan to be very mobile, both during the day and in the evenings.”

BOQ Bundaberg is the 21st corporate branch to convert to an OMB.

Due to the success of the OMB model and its positive impact on customer service, the Bank will convert further corporate branches to OMBs where there is a demonstrated benefit to customers.

Bank of Queensland has 282 branches around the country, of which 192 are OMBs.