CommBank (CBA)

Why Kununurra Coles in WA has temporarily stopped offering customers cash

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The regional banking crisis is having unexpected consequences, with a Coles in Western Australia now having to pause cash-out in its store due to excessive demand. The Coles in Kununurra has experienced an increase in demand for in-store cash-out services following the closure of some bank branches in town. Coles says this is a temporary … Read more

Commonwealth Bank reports $5.02 billion profit amid branch closures, job losses

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Australia’s biggest bank made $5.02 billion in cash profit after tax in the six months to December 31, down 3 per cent from the same period a year ago. Commonwealth Bank was less profitable in the first half of the financial year as operating expenses increased while income stayed flat. “Our lower cash profit reflects … Read more

More Commonwealth Bank branches to close in Queensland, NSW, Adelaide

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Three more Commonwealth Bank branches across Australia are set to close next month. The branches in well-populated areas of Coogee in NSW, Coolangatta in Queensland, and Adelaide’s Rundle Mall in South Australia, will be shuttered by March 1, according to the bank. Commonwealth Bank called the permanent closures a “difficult decision” based on progressive declines … Read more

Cash no longer available over the counter at some Commonwealth Bank branches in Sydney, Melbourne and Brisbane

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Cash is no longer available over the counter at a number of Commonwealth Bank locations across the country, where new Specialist Centres are now focussed on “more complex banking needs”. Customers can withdraw or deposit cash at on-site ATMs instead. WATCH THE VIDEO ABOVE: Commonwealth Bank makes major change to over-the-counter cash withdrawals. The Specialist … Read more

Commonwealth Bank to cut almost 200 jobs across Sydney, Melbourne and Perth

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Commonwealth Bank is cutting almost 200 jobs across three Australian capital cities, blaming a downturn in retail banking, a union representing workers said. The Financial Sector Union said, following talks with Commonwealth Bank Australia, 192 jobs would be cut from Sydney, Melbourne and Perth in sectors including consumer finance, everyday banking, home buying operations and … Read more

Commonwealth Bank flags major change to policy at branches across Australia

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Australians may have noticed a slight change in policy when visiting their local Commonwealth Bank branch. This year, the bank changed its policy to only allow CommBank customers to exchange cash at their branches. A CBA spokesperson said the change came into effect as of June 2023, to ensure branch teams “are able to focus … Read more