Westpac Banking (ASX:WBC, NZE:WBC) extended its existing moratorium on regional branch closures in Australia until mid-2027, according to a Tuesday release from the bank.
The bank also agreed to increase its investment in Bank@Post to ensure banking services in regional locations remain available, following talks with Australia Post.
The lender's chief executive Anthony Miller welcomed similar moves across the banking industry after an announcement from Australia's Treasurer, Jim Chalmers, that will see all major banks provide assurance that local banking services will be available in regional locations until mid-2027.
He added that the bank had invested in its branch network and digital banking capabilities to meet shifting customer preferences.
Westpac Banking's shares were up almost 1% in recent Tuesday trade in New Zealand.
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