The Commonwealth Bank has renewed the lease on its Kingsgrove branch for another five years.
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The decision goes against industry trends which have seen a number of branches of various banks close at Kingsgrove and across St George region.
"We're proud to have served the community of Kingsgrove for many decades, " Carol Chami, Commonwealth Bank Kingsgrove branch manager said
"And are pleased we'll continue to do so at our branch on Kingsgrove Road," she said.
The move has been welcomed by Kingsgrove Community Aid Centre chief executive officer, Anne Farah-Hill.
"Kingsgrove has lost the ANZ, Westpac and St George Bank since 2020," Ms Farah-Hill said.
"Last week we invited Carol Chami, the Commonwealth Kingsgrove branch manager and her team to the Kingsgrove Community Aid Centre's annual general meeting where they wanted to present us with a check for $500.
"During their visit they made the announcement that Commonwealth Bank had signed a five year lease on its premises at Kingsgrove Road. It was welcome news that the bank will stay and serve our seniors and also the local business community," she said.
"During Covid so many banks closed, so the Commonwealth Bank was the last bastion."
Ms Farah-Hill said many members of the seniors groups at Kingsgrove Community Aid Centre have been impacted by bank closures.
The bank closures have been a blow to the many seniors who require physical assistance as they are not too savvy with internet banking. The alternative is the bigger branches in Hurstville and Kogarah which can be difficult for seniors to access.
"I'd like to commend the Commonwealth bank for keeping its Kingsgrove branch open," Ms Farah-Hill said.
"We are also starting to educate our seniors on how to use the bank ATM, credit cards and internet banking," she said.
"There's a sense of relief in the community. A lot of seniors have moved their banking over to the Commonwealth. It's a very busy branch."
