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St.George Bank is an Australian bank with its headquarters in Sydney. Since a 2008 merger, the bank has been part of Westpac , having previously been an independent legal entity. In 2010, St.George was deregistered as a company and ceased to be a standalone authorised deposit-taking institution.
The origin of its name is obscure. The 1610 Velasco map, prepared for King James I of England, used the name "S. Georges Banck", a common practice when the name of the English patron saint, St. George, was sprinkled around the English-colonized world. By the 1850s, it was known simply as Georges Bank.
The Bank's headquarters were at the Palazzo San Giorgio, which was built in the 13th century by the order of Guglielmo Boccanegra, uncle of Simone Boccanegra, the first Doge of Genoa. On June 11, 1857 the ancient lock from the vault of the bank of St George was presented to the Philadelphia historical society by Lieutenant George H. Hare USN. [4]
The Bank of Melbourne is a financial institution operating in Victoria, Australia.A subsidiary of Westpac, it commenced operations on 25 July 2011.. The Bank of Melbourne initially rebadged the Victorian business of St George Bank, another wholly owned subsidiary of Westpac, as part of a major local branding strategy.
BankSA is a wholly owned entity of St George Bank, which is owned by the Westpac Banking Corporation. Westpac is a publicly listed ASX private company with an Australian Financial Services Licence (AFSL).
On 12 May 2008 Kelly announced an $18.6 billion merger between Westpac and St. George Bank. [6] The merger was approved by the Federal Court of Australia and finalised on 26 May 2008. [ 7 ] The merger resulted in the new combined Westpac Group having 10 million customers, a 25% share of the Australian home loans market and with $108 billion ...
2011: During July St George branches in the state of Victoria were rebadged as Bank of Melbourne branches. In early February 2012, Westpac announced plans to axe more than 400 domestic jobs and another 150 offshore jobs. This action was a response to much slower growth over the past several years and the desire to rationalize following Westpac ...
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