Thursday, 16 May, 2019 - 12:53
CBA's Bankwest cuts fixed mortgage rates
Commonwealth Bank-owned Bankwest is slashing its three-year owner-occupier mortgage rate as lenders chase an ever decreasing number of suitable home loan customers.
Bankwest was founded in 1895. It was owned by the State of Western Australia until 1995, when it was privatised and listed on the ASX. It was acquired by the Commonwealth Bank in 2008.
Bankwest is a full-service retail bank in Western Australia, but has scaled back many other activities.
Rank | Company | # | |
---|---|---|---|
1st | Commonwealth Bank of Australia | 3000 | |
2nd | Bankwest | 3000 | |
3rd | Westpac Banking Corporation | 1969 | |
4th | National Australia Bank | 994 |
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Commonwealth Bank-owned Bankwest is slashing its three-year owner-occupier mortgage rate as lenders chase an ever decreasing number of suitable home loan customers.
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Applications for home loans within Western Australia were up 62 per cent year on year for the first six months of 2021, according to the latest data from Bankwest.
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Bankwest will close its Subiaco branch after more than 60 years in what is another blow to the bank’s locations across the county.
Bankwest will shut down its South Perth branch in November citing consistently low customer visits in what is the latest blow to instore banking.
Bankwest will shut the doors of three of its Perth metro branches by the end of the year due to the stores becoming “increasingly unsustainable” to operate amidst a shift to digital banking.
Another two Bankwest Perth locations are set to close as the bank grapples with the decline in branch use due to surging digital transactions.
Bankwest will close all branches and undertake a major redeployment of staff to ensure the 129-year-old bank can remain competitive in the digital age.
Treasurer Rita Saffioti and the Finance Sector Union have hashed out concerns over the impending closure of Bankwest branches and hundreds of job cuts.
The Bankwest Curtin Economics Centre says there should be more incentives for workers in the building and construction industry if WA is to meet it housing targets.
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Bankwest is included in 1 list - Banks & Non-Bank Lenders.