SUNTREATTOWN, NSW — A new bank has opened in Sydney, opening a new chapter in a community trust bank that’s been operating in the city for the past eight years.
The Suntrust Online Banking Group (SOBG) opened its first Sydney branch on Wednesday.
SOBg chairman Richard Stapleton said the bank had been a long-time community trust provider and was looking for a partner to join its growing portfolio of banking products.
“We are really excited about the opportunity we are now to provide a banking product to our community in the CBD, and we’re looking forward to connecting with our customers in the future,” Mr Staperton said.
The branch opened on the first floor of the Suntrust Building in the SunTrust Building, in the central business district of the city.
The first branch opened in December this year.
Suntrust Online banking is based in Melbourne, which has a total of 23 branches, but there are also branches in Brisbane, Perth and Sydney.
Mr Stapton said the group was in talks with more banks in Australia about opening branches.
Mr Stacleton said Suntrust had been operating since March last year and was considering its next move.
He said the opening of the branch in the downtown Sydney CBD was a major milestone in the company’s development.
“We’ve got more than 400 community trust branches and we’ve just opened our first in the capital city of Sydney,” he said.
“That’s pretty amazing.”
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