Dozens of ASB Bank jobs on the line

A review of cash management services at ASB Bank could cost dozens of jobs at the Australian-owned bank.

ASB is proposing to outsource its cash management services to Armourguard later this year.

The bank said cash processing centres in Auckland and Wellington could close and in-branch services in Christchurch would also shift to Armourguard.

ASB said the revised model would bring it into line with other major banks, which outsource cash handling processes.

It said it was consulting with staff and would not reveal how many jobs were affected.