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Westpac Banking Corporation, also known as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales. [ 2 ] Established in 1817 as the Bank of New South Wales , it acquired the Commercial Bank of Australia in 1981 before being renamed to Westpac Banking Corporation ...
This list of Westpac buildings includes a number of notable (often heritage-listed) buildings, currently or formerly used by the Westpac Bank or its predecessor institutions including Bank of New South Wales.
Commercial Bank of Australia. The Commercial Bank of Australia Limited (CBA) was an Australian and New Zealand retail bank which operated from 1866 until being amalgamated with the Bank of New South Wales, that was established in 1817, to form the Westpac Banking Corporation in 1982.
The Bank of New South Wales (BNSW), also known as The Wales, was the first bank in Australia. It was established in 1817 in Sydney. During the 19th century, the bank opened branches throughout Australia and New Zealand, expanding into Oceania in the 20th century. Throughout it history it merged with and purchased many other financial institutions.
In 1982, Bank of New South Wales merged with the Commercial Bank of Australia to form Westpac. There were many other bank mergers and acquisitions throughout Australia's banking history. The boom and bust of the 1980s was a turbulent period for banks, with some establishing leading market positions, while others being absorbed by the larger banks.
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The Bank of Melbourne is a subsidiary of Westpac Banking Corporation, and was relaunched in August 2011. Previously, Westpac Banking Corporation had purchased the old Bank of Melbourne business in 1997 (a separate and independently operating building society located in Melbourne), and after some preliminary steps, subsequently closed its doors ...
As a former building society, the bank was also heavily involved in lending in the residential property market. [2] 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]