Bank Of Melbourne – A New Bank For Australia

Today Westpac has announced the launch of a new bank, Bank Of Melbourne – designed to service Victorians in a massive roll out of new branches in the state.

Bank Of Melbourne will be a part of the Westpac Group, which also owns St.George bank and BankSA (Adelaide market)

What does this mean?

It means more competition for Victorian consumers. It means rapid growth of a new banking arm in the state with over 100 branches and 300 ATMs (over the next five years) according to a report in Business Spectator.

Competition is always a good thing and by the looks of it, Westpac Group are very focused to offering a premium, happy new bank to the market to shake things up a bit.

The future of St.George Bank in Victoria

Branches in Victoria under the St.George brand name will be rolled into Bank Of Melbourne branches while continueing to operate exactly how St.George does – with a friendly smile and great customer service (this is why I bank with them!).

Westpac will continue to operate in Victoria alongside Bank Of Melbourne – further driving competition and fair banking for all.

When will Bank Of Melbourne officially launch?

From reports it seems that August 2011 will be the turning point for Bank Of Melbourne officially been seen by the public.

What do you think about the new launch of Bank Of Melbourne?

Share your thoughts with us below.

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