Kiwibank has confirmed to chrislynchmedia.com it is considering closing its Colombo Street branch in Christchurch.

A spokesperson said the proposal is subject to consultation with staff and feedback from the community.

“If the proposed change goes ahead, we would support our branch team through any transition, including exploring the many opportunities across the bank.”

The bank said the proposal comes in response to a decline in demand for over-the-counter transactions at the Christchurch CBD branch over the past three years.

“This reflects a trend across our network. As of June 2024, 97% of customers whose main bank is Kiwibank connect with us via our digital services. Since 2017, demand from customers aged 65 and older has dropped by 60%.”

Kiwibank is also considering closing its Manners Street branch in Wellington, citing similar reasons.

The banks said it still has the largest physical banking network in New Zealand, with 57 branches and 85 Local for Kiwibank Agents operating in regional towns.

“We continue to invest in our branches, including recent refurbishments and relocations in Papanui, Hornby, Riccarton, and New Plymouth, as well as changes to branches in Queensgate, Glenfield, St Lukes, Botany, and New Lynn.”

The spokesperson said the proposed closures in Christchurch and Wellington remain subject to consultation. “If the proposed changes go ahead, we will reallocate resources to areas that benefit more customers, such as investing in branches in higher foot traffic locations and in our digital services.”

“Christchurch would still be serviced by full-service branches in malls with extended hours, along with eight Local for Kiwibank Agents providing basic transactional banking services.”

A final decision on the closures is expected by March 13, with Kiwibank planning to communicate the outcome soon after.