NATIONAL Australia Bank will close several branches throughout Melbourne's suburbs as part of efforts to rein in costs. The branch closures are part of 35 earmarked to shut nationally as NAB becomes the first major bank in nearly a decade to shrink its branch network. While banks have been busy axing staff in recent months to adjust to the slowing economy, branches have been considered off limits, given the massive consumer backlash against big banks after widespread branch closures during the 1990s. NAB has already received flak after it broke ranks from rivals this month by holding back the Reserve Bank of Australia's entire 25 basis point interest rate cut from mortgage customers. The bank blamed the increase in funding costs, particularly deposits.