The new branch is the first metropolitan presence for Rural Bank after over a decade of retail operations in more than 250 rural and regional locations across Australia. The bank has said that it is planning to open another new branch in Perth next month.
Paul Hutchinson, CEO of Rural Bank, said that more than 43% of the bank’s deposit funds come from metropolitan markets, making the move to set up branches in the city a logical one.
Mr Hutchinson added: “We pride ourselves on having a personable service proposition and tangible country values that enable us to be a truly viable banking alternative for all Australians. Our new Adelaide Investment Center reflects this attitude as customers can come in and discuss their savings and investment options in a welcoming environment.”
