The Newstead branch of the Commonwealth Bank of Australia has permanently closed because it saw a significant drop in transactions over the past five years, says a representative.
The branch had been closed temporarily since May 7 due to COVID-19, before it was permanently closed on August 28.
Tasmania regional general manager David Castle said despite the closure there would be no job losses.
"Our people from this branch are continuing in their reassigned roles, where they have been since the branch temporarily closed, supporting customers over the phone and online," he said.
"Once their secondments conclude, we will redeploy them into comparable roles where it suits them. There are no job losses as a result of this decision."
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Mr Castle said the bank ensured customers with a preference for face to face service would still have access, with three nearby branches within five kilometres - Kings Meadow, Launceston and Mowbray.
"Following a recent review and in line with our lease expiry, we made the difficult decision to permanently close the Newstead branch. This branch has seen a significant drop in transactions over the past five years," he said.
"We've also found that 73 per cent of customers from Newstead branch are already visiting these neighbouring branches."
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