BankWest has Traralgon expansion in its sights

Member for Morwell Russell Northe MP and key members of the local business community welcomed BankWest to Traralgon on Thursday night at the official opening of the first BankWest Business Banking Centre in the region.

The Traralgon BankWest Business Banking Centre is one of 16 new business centres opened on the east coast since 2006 confirming the bank's commitment to the region.

BankWest's Head of Rural and Regional Jamie Ritchie said Traralgon was a thriving commercial centre with a diverse range of businesses including dairy, agriculture, paper, coal and timber industries and BankWest was pleased to open a business centre offering specialist rural and regional services.

"BankWest is growing rapidly so it makes sense to open a dedicated Business Banking Centre in Traralgon which is a major centre and is also experiencing strong growth."

"BankWest has listened to feedback from businesses in many different areas and identified a clear need for specialised banking services across various industry sectors," he said.

"We know the region and our 110 year history as an agricultural bank in Western Australia, gives us solid experience in rural and regional matters."

Member for Morwell Russell Northe MP cut the official ribbon at the opening and said the dedicated BankWest Business Banking Centre was a vote of confidence for the area's economic development.

"It's great to see BankWest bringing new competition into Traralgon and investing in the region.BankWest sees the inherent opportunities delivered through our high performing business sector and locals will benefit from the new competition and additional deals and services," Mr Northe said.

BankWest has a growth strategy to become a significant force in Australian financial services, through a strategy focusing on driving competition and change in the banking industry.

"We have made a significant investment in our future here in Traralgon. We have a modern
business bank premises with the latest technology and systems and, more importantly, we have
recruited the very best bankers in the local area," Mr Ritchie said.

BankWest continues its assault on the Australian banking industry with the roll-out of more than
160 major new retail and commercial banking centres in 2007 and 2008.

"Our recent expansion announcement means it will be even easier for BankWest customers to
access our services and products over the coming years," he said.

BankWest has 6 Rural and Regional centres in Victoria including Ballarat, Bendigo, Mildura,
Shepparton, Warrnambool and now Traralgon.

About BankWest Business

BankWest Business provides a full range of core and specialist business banking products and services to all business market segments from small business to large corporates. From market leading transaction and investment accounts through to flexible business loans and sophisticated Financial Market and International Trade products, we are an organisation committed to making ameaningful difference in the financial services marketplace with our simple and straightforward products. Our energetic approach and attitude aims to reject the status quo and present a significant challenge to the conventions and the competition.

BankWest Business has a presence in capital cities, rural areas and regional locations throughout Australia. We focus on key
markets including Property Finance, Small Business, Commercial, Rural and Regional and Corporate.

We also offer a flexible range of products and competitive lending guidelines across specialist industries such as Aged Care,
Childcare, Hotels/Accommodation, Franchise and Pharmacy. We recognise the value of the going concern of a business, along with the value of its people and brand, not just its fixed assets or balance sheet.

Our business banking managers have been selected for their industry knowledge and experience and take the time to get to know their customers' business to find the best products and services to meet their needs.

BankWest has been around for more than 100 years and is now part of the HBOS Australia group with assets of over $39 billion.Backed by our parent company HBOS plc, one of the world's largest financial services groups, we are providing a fresh customer experience and challenging the Australian market. BankWest is the fastest growing business bank in Australia*, and because we are growing, we will try harder to help grow your business.

*Measured by market share growth, number of new managers hired and number of new Business Banking Centres opened.

Bridget Tombleson, HBOSA Corporate Affairs, 08 9449 6768 / 0407084 359
Jasmin Walker, HBOSA Corporate Affairs, 08 9449 6124 / 0407 902 267

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