The Australian Prudential Regulation Authority (APRA) has released its 2024 Points of Presence Statistics, revealing a continued decline in the number of bank branches across the country. The report, which tracks physical banking service channels like branches, ATMs, and EFTPOS facilities, highlights the ongoing shift away from traditional banking methods.
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6% decline in bank branches nationwide in 2024
Between June 2023 and June 2024, the number of bank branches fell by 6%, with a notable 3% decline in regional and remote areas. Over the longer term, from June 2017 to June 2024, the report shows a staggering 41% decrease in branches nationwide, including a 36% reduction in rural and remote communities. These statistics reflect the growing reliance on digital banking services, as more customers transition to online platforms.
APRA adds new features to improve data accessibility
APRA's updated report also includes several new features to enhance accessibility and understanding of the data. Users can now filter the statistics based on geographic location, banking service type, and individual authorised deposit-taking institutions (ADIs). Additionally, Bank@Post facilities have been listed as a separate category, and more detailed geographic classifications have been added to provide clearer insights into the availability of banking services.
Growing shift toward digital banking in Australia
While the decline in physical branches continues, APRA acknowledges that many banking services are increasingly delivered through digital channels not captured in the Points of Presence Statistics. APRA will continue to engage with stakeholders to explore ways to improve transparency around the evolving landscape of banking services in Australia.
Download the report on APRA's website
