The launch of a new Business Banking Centre on 27th April 2007 in Coffs Harbour hails the importance of the NSW rural and regional market for HBOS Australia owned BankWest.
The new BankWest Business Banking Centre located at 129 West High Street will service a large number of customers in the area and add to the bank's rural and regional presence in NSW which includes Dubbo, Orange, Wagga Wagga and Tamworth.
BankWest has been operating in Coffs Harbour for almost two years but only recently moved into the new Business Banking Centre, officially opened on April 27th, 2007.
BankWest's Head of Rural and Regional Banking, Jamie Ritchie attended the opening and said Coffs Harbour was a growing region and selected because of its strategic importance in NSW.
"There is growing demand in Coffs Harbour for competitive financial agribusiness and commercial products," he said. "The opening of this Business Banking Centre is another milestone for BankWest rural and regional as we continue to expand on the east coast of Australia," he said.
"BankWest is a relative new comer to the NSW rural and regional banking sector however many businesses on the east coast aren't aware that BankWest has over a hundred year history in Western Australia and was formed out of an agricultural bank.
Coffs Harbour is an important region for BankWest because of the economic and population growth opportunities it presents."
The Member for Coffs Harbour, Mr Andrew Fraser MP, who attended the official opening along with other key members of the business community, said the dedicated BankWest business centre in Coffs Harbour was a vote of confidence for the area's economic development.
"Coffs Harbour is a city on the move and to see financial services entrants like BankWest coming into the region is a vote of confidence for the growth opportunities in the region," he said.
"I believe that Coffs Harbour is a key regional centre and will grow significantly over the next few years."
"I'm pleased to welcome BankWest to Coffs Harbour and encourage competition in the financial services market," Mr Fraser said.
Mr Ritchie said rural and regional NSW was a key part of BankWest's growth strategy and the bank had continuing growth plans in the region.
"We are providing a fresh approach to business banking and our aim remains clear - we want to provide the rural and regional sector with managers who understand their business and offer specialised service to the agriculture, business and commercial sectors," he said.
As a part of HBOS Australia, BankWest has a growth strategy to become a significant force in Australian financial services, through a strategy focussing on driving competition and change in the banking industry.
The bank is backed by its UK parent HBOS plc, an organisation that successfully developed and introduced industry specialisation service models in the UK. BankWest is utilising this experience to build similar models here in Australia, developing industry specific lending guidelines in a number of core markets, including agribusiness, health/medical care, hospitality, business and professional services and franchising.
