Updated January 16, 2026 — 12:33pm,first published 11:28am
Save
You have reached your maximum number of saved items.
Remove items from your saved list to add more.
Save this article for later
Add articles to your saved list and come back to them anytime.
Got it
AAA
Commonwealth Bank has been accused of “essentially calling it quits” on its West Australian subsidiary, following the revelation new workers would no longer be employed under the Bankwest entity.
The Financial Sector Union has also flagged CBA’s plans to combine the Bankwest enterprise agreement with the agreement covering the national workforce, which it warned would put the working conditions of 1400 staff at risk.
Bankwest branches are no more, and now new workers will be employed under the Commonwealth Bank entity.Peter Milne
It comes after CBA closed all Bankwest branches and ATMs in 2024, shifting the bank’s services to online-only.
That decision was made on the back of dwindling over-the-counter transactions, especially in the state’s regions, and saw the closure of 45 branches.
The FSU claimed CBA’s latest move undermined the principle that workers should be able to bargain collectively, with a real influence over the outcome.
Related Article
“CBA is essentially calling it quits on Bankwest by making this the end of Bankwest as an employing entity,” FSU national president Wendy Streets said.
“They want to disappear the Bankwest brand, but our members have worked hard to protect Bankwest’s unique culture and identity in WA.
“This move also sets up a situation where around 1400 workers could be forced to bargain alongside more than 33,000 Commonwealth Bank workers. That is not a level playing field.
“This is far from an internal tidy up, it’s about whether Bankwest workers retain a genuine, democratic say over their own enterprise agreement and their pay and conditions, or whether they are swallowed up into a much bigger workforce where their interests can be outvoted.”
A Bankwest spokesperson said conditions and employment arrangements across Bankwest and CBA had become “increasingly aligned” over the more than 17 years the WA bank had been under the Commonwealth umbrella.
“All colleagues across the Group will continue to be supported to develop their skills and access a broad range of career pathways,” the spokesperson said.
“Bankwest has a clear role in the Group, with an ambition to be Australia’s favourite digital bank, and a strong and distinct identity and culture as a WA-based national digital bank.
“In the future, colleagues working in Bankwest roles under CBA contracts would continue to have their connection to the Bankwest business clearly reflected in their contracts.”
Bankwest launched a new app and website last year, which was followed by its “Just Enough Bank” campaign which saw the refreshed digital bank’s new colours splashed on billboards across the state, backed by advertising on TV, broadcast and social media.
CBA bought Bankwest in 2008 from the Bank of Scotland, which had bought it from the WA government in 1995 with plans to list 49 per cent of the shares on the ASX, before eventually buying those shares back in 2001.
The bank was founded in 1895 as the Agricultural Bank of WA, which primarily serviced farmers, and was later known as the Rural and Industries Bank – or R&I – from the 1940s until it changed its name to the Bank of Western Australia in 1994.
Commonwealth Bank has been approached for comment.
Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter.
Save
You have reached your maximum number of saved items.
Remove items from your saved list to add more.
From our partners