Parramatta. New bank in the CBD

Parramatta City Council has approved an application by the Beirut Hellenic Bank Ltd, to open a branch, in Macquarie Street, in Parramatta. The Bank of Beirut, which is investing $420 million into its Australian subsidiary, will open five new branches by the end of the year, with the first in the former Murray Bros building, in the Parramatta CBD, in July, employing 10 people. The bank, which has branches in Adelaide, Melbourne and Sydney branches, was formerly known as Laiki Bank Australia, until April 27. It opened in Australia in 2001. The Arab Bank Australia is represented in the city with branches in the Parramatta CBD and Westmead Hospital.

Parramatta. Wide Bay rights issue expected

Queensland-based listed regional bank, Wide Bay Australia, which has its one NSW branch located in Parramatta, is expected to announce a rights issue for institutional investors. The proceeds will be used to fund an expansion.

BizBriefs

The worst street for car thefts in the metropolitan area was Campbell Street, in the Parramatta CBD, where 50 cars were stolen in 2006-07, according to the National Motor Vehicle Theft Reduction Council. Forty-five vehicles were stolen in North Terrace, Bankstown, and 38 in McFarlane Street, Merrylands ... Book retailer, Dymocks, has pulled out of bidding for Borders Australia, which has stores in Parramatta, North Ryde and Campbelltown ... In an effort to boost business, the Rosehill Bowling Club will introduce barefoot bowling, following the trend in the eastern suburbs ... The Commonwealth Bank in Westfield Parramatta will open on Sundays from December 2, following the trend of other banks expanding weekend trading.