Westpac will halt regional branch closures during a Senate inquiry examining the exit of banks from rural towns amid mounting political pressure to show good faith to country customers.
A spokesman for Westpac said it would postpone the closure of eight banks in rural areas across the country, and there would be no decisions on the future of other branches during the inquiry.
The inquiry into why banks are increasingly shutting shop in regional towns was launched last week after the closure of almost 100 branches since September.
The committee will examine the reasons for banks’ departure and possible solutions, along with the effects on regional economies and community welfare….