Three More Years . . .

The New Zealand banking sector's Big 5 have bowed to pressure from rural advocacy groups (primarily, Rural Women New Zealand i.e. RWNZ) to keep their regional branches open for another three years.

Last month, Rural News magazine reported that - as per a statement issued by the New Zealand Banking Association - the five major banks, ANZ, ASB, BNZ, Kiwibank, and Westpac, will extend their current commitment to keep regional branches open for the next three years.

The decision was arrived at as part of the conclusion of the regional banking hubs trial, work on which had begun in September 2019, with phase two launching in July last year and finishing at the end of July this year.

RWNZ says "face-to-face services" are an important criterion in comparing services and account types and tailoring them to the specific needs of rural enterprises.

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