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NAB has continued its commitment to revamp its branches, investing another $100m in refurbishment efforts for its branch network.
The bank has completed the 26 locations so far this year and plans to renovate 50 more branches before the year ends. Around half of these branches are in regional communities across Australia.
NAB's transformation projects include changing to an open-plan layout and installing self-service digital bars and self-service machines that are available round-the-clock.
This additional investment follows the $60m boost last year. Rachel Slade, NAB group executive for personal banking, said the bank's efforts to transform branches was part of its commitment to improve its services for its customers.
"When our customers choose to visit us in a branch, it’s to have an in-depth conversation about how we can help them achieve their goals," she said.
Slade said despite 93% of NAB’s customer interactions now taking place via the NAB App, phone, video or online, it is still crucial to invest in its branch network.
"That’s why we are making significant investments in our branch network, redesigning these important locations for the customer experience to be less transactional and more conversational," she said.
In addition to these transformation projects, the bank is also opening four new format branches in New South Wales Barangaroo, and Victoria's Clyde, Bourke Street, and Collins Arch this year. These follow the successful trial of NAB’s first smaller format branch at Casey Central Shopping Centre in Victoria late last year.
"Our digital savvy customers no longer need to visit a branch to withdraw cash, deposit a cheque or to pay a bill. They complete these transactions on the go, at a time and location that suits them,” Slade said.
"We’re investing in more smaller format branches so we can provide a convenient location for customers to have important conversations with experienced NAB bankers, either in person or via video.”
