Funding for the programme was not disclosed. — Reuters
SYDNEY: A trio of major lenders may join a banking service run by Australia’s post offices as part of a government push to mitigate branch closures across the country.
ANZ Group Holdings Ltd has agreed to participate in Australia Post’s Bank@Post venture, while Macquarie Group Ltd and HSBC Holdings Plc are expected to begin negotiations to follow suit, Australia’s government and the nation’s banking lobby said yesterday.
They didn’t disclose how much funding the programme would net from participants.
The deal deepens what has become a backstop for banking and teller services in many parts of rural Australia. — Bloomberg
