Original article by James Eyers
The Australian Financial Review – Page: 14 : 3-Aug-15

A UBS report forecasts that the growing shift to the use of mobile banking services will result in a 5.6 per cent reduction in the number of bank branches globally. Australian bank executives who participated in the UBS survey expect local bank branch numbers to be slashed by 11 per cent in coming years, which would equate to 603 branches. The survey also forecasts that the proportion of banking transactions carried out using mobile technology will rise from 25 per cent to 46 per cent in the next three years.

CORPORATES
UBS AG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SCENTRE GROUP – ASX SCG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, NAB VENTURES