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Bankwest is an Australian bank based in Perth, Western Australia. It was founded as the Agricultural Bank of Western Australia in 1895 by the Government of Western Australia being renamed the Rural and Industries Bank in 1944, and Bankwest in 1994 before being privatised.
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R&I renamed to Bank of Western Australia Limited, trading as BankWest: 1995: Challenge Bank acquired by Westpac (formerly Bank of NSW) 1995: Bank of Scotland acquired BankWest, and as part of the sale agreement, offered 49 per cent of the shares in BankWest to the public. BankWest shares listed on the Australian Stock Exchange on 1 February ...
Commonwealth Bank declared 1,958 out of 26,000 BankWest commercial loans impaired (in default of the loan terms), [62] with a total face value of $17.9 billion. As they were deemed to be in breach of their loan conditions, the bank was able to charge increased interest rates, or require early repayment.