Australian bank Westpac extends moratorium on regional branch closures till 2027

(Reuters) - Westpac Banking Corp has pushed back the closures of its regional branches until at least 2027 and will invest more than A$150 million over the next two years to improve services at these branches, the lender said early on Wednesday.

"Westpac is extending its moratorium on regional branch closures until at least 2027 while it strengthens regional banking services," Australia's third-largest lender in terms of market valuation said in a media statement.

"This commitment will support more than 2.2 million customers and 1,000 employees who live and work in 182 regional areas."

Established more than 200 years ago, Westpac said it is also investing over A$200 million ($129.64 million) over the next decade in partnership with the government-run Australia Post to allow cash and cheque transactions at select post offices.

($1 = 1.5427 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru; Editing by Pooja Desai)