Commonwealth Bank extends regional branch pledge to 2030

• Commonwealth Bank has committed to keeping all 281 regional branches open until at least December 2030.
• The company extended its previous moratorium from mid-2027 following intense scrutiny over bank branch closures across Australia.
• The decision comes as the business invests $140 million this financial year to upgrade its physical locations and services.

Commonwealth Bank of Australia (ASX:CBA) has pledged to maintain its regional branch network until December 2030 to ensure continued access to face-to-face services for local communities.

The lender extended its previous commitment from mid-2027 to address widespread criticism over regional closures after 1,200 regional branches shut nationwide in six years.

“Regional communities are central to the Australian economy and our way of life,” said Commonwealth Bank CEO Matt Comyn.

The company stated it will spend $140 million this financial year to improve branch access, reduce wait times, and support its 281 regional sites alongside its network of over 600 total branches.

The extended freeze provides operational stability for regional business and retail clients as major banks adapt to changing customer preferences.

Following the announcement, the Commonwealth Bank share price was down at $149.71.

The broader Australian banking sector has faced heavy parliamentary scrutiny regarding regional service withdrawals, which local councils argue harm rural economies.

Meanwhile, union representatives noted that urban locations remain unprotected, with 29 metro branches slated for closure or already shut this year.