Search results
Results from the WOW.Com Content Network
The all-stock deal valued St.George at A$18.6 billion (US$17.5 billion), or A$33.10 a share, a premium of 28.5% to the closing price of St.George shares on 9 May in Australia. St.George shareholders received 1.31 Westpac shares for each St.George share and owned 28.1% of the new entity.
Westpac acquired Challenge Bank in 1995, Bank of Melbourne in 1997, and St George Bank in 2008. [8] Currently, banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, ANZ Bank and the National Australia Bank. The top four banking groups in Australia ranked by market capitalisation at share price 1 December 2017:
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 division covers all consumer banking products and services under the Westpac, St George, BankSA, Bank of Melbourne and RAMS brands. Activities are conducted through the Consumer Bank's nationwide network of 877 branches, third-party distributors, call centres, 1,637 ATMs, EFTPOS terminals and internet banking services.
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2010s, this has become the most common way that ...
The building society was demutualised in 1985 and became known as the Advance Bank. [3] In 1995, Advance Bank acquired the State Bank of South Australia, which it continued to run as a separate business unit as BankSA. [1] Advance Bank (and its BankSA subsidiary) was taken over in 1997 by St George Bank, itself another former building society. [4]
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 ...
Personal tools. Donate; Create account; ... St George Bank; Foreign banks ... Australia and New Zealand Banking Group Limited (ANZ) Local banks