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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. The customer-facing ...
At the time of its acquisition by Westpac in 2008, St.George Bank Limited (as it was then known) was the fifth largest bank operating in Australia. [10] In 2016, St George Bank moved to its present headquarters in Tower 2 of the International Towers complex in the central Sydney area of Barangaroo.
The Advance Bank was an Australian bank that existed from 1985 until 1997, when it merged with St George Bank. [1] It is not related to Advance Bank AG of Germany (which was shut down by Allianz in 2003). It was established as the NSW Permanent Building & Investment Society in 1939.
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 ...
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank.There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...
Regional General Manager for the Commonwealth Bank of Australia's operations in South Australia, Northern Territory and Western Australia (-2002) [2] [5] Managing Director of BankSA (2002-2010) [2] [6] Chief Executive Officer of St. George Bank (2010-2012) [2] [7] Chapman was appointed a Member of the Order of Australia in the 2025 Australia ...
Prior to a bailout by the Government of South Australis, the Savings Bank was on the verge of collapse, which was hastened by the 1991 Royal Commission into The Organisation Of Public State Funds of South Australia. Advance Bank was purchased by St. George Bank in 1997 and the State Bank became part of the greater Westpac Corporation after the ...
In 1996 the bank acquired the Victorian business of Challenge Bank from Westpac for A$659.7 million, making the Bank of Melbourne the fourth largest regional bank, and the eighth largest of all listed banks in Australia. [2] By this time the Bank of Melbourne also held 9.6% of the Victorian lending market, 11.6% of the Victorian deposit market ...