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The Colonial Bank of Australasia was a bank operating primarily in the Australian colony and then state of
The Colonial Bank of Australasia was a bank operating primarily in the Australian colony and then state of Victoria
Victoria most commonly refers to:
* Victoria (Australia), a state of the Commonwealth of Australia
* Victoria, British Columbia, provincial capital of British Columbia, Canada
* Victoria (mythology), Roman goddess of Victory
* Victoria, Seychelle ...
from 1856 to 1918.
It commenced operation on 14 April 1856, following its incorporation by the Parliament of Victoria
The Parliament of Victoria is the bicameral legislature of the Australian state of Victoria that follows a Westminster-derived parliamentary system. It consists of the King, represented by the Governor of Victoria, the Legislative Assembly an ...
through the ''Colonial Bank of Australasia Incorporation Act 1856''. The board's first governor was John O'Shanassy
Sir John O'Shanassy, KCMG (18 February 1818 – 5 May 1883), was an Irish-Australian politician who served as the 2nd Premier of Victoria. O'Shanassy was born near Thurles in County Tipperary, Ireland, the son of a surveyor, and came to the Po ...
, who would become Premier of Victoria
The premier of Victoria is the head of government in the Australian state of Victoria. The premier is appointed by the governor of Victoria, and is the leader of the political party able to secure a majority in the Victorian Legislative Assemb ...
the next year. The new bank had already won a lawsuit filed against it by the Bank of Australasia
The Bank of Australasia was an Australian bank in operation from 1835 to 1951.
Headquartered in London, the bank was incorporated by Royal Charter in March 1834. It had initially been planned to additionally include first South Africa and then ...
, which had alleged that the new bank had infringed upon its rights. It described itself as having been established on the "Scottish principle", with limited liability for shareholders related to having been incorporated by Parliament.
The bank's first headquarters were located in the former Imperial Hotel on the corner of Elizabeth Street and Little Collins Street
Little Collins Street is a minor street in the central business district (CBD) of Melbourne, Victoria, Australia.
The street runs parallel to and to the north of Collins Street and as a narrow one way lane takes on the name of the wider main ...
, Melbourne
Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...
. It was replaced with a grand new headquarters on the same site in 1880-82 to a design of the architectural firm Smith and Johnson, the new building opening in April 1882.
In 1893, the bank had 69 branches across the state of Victoria, and was represented interstate and overseas through agencies with a number of other banks. It was one of the banks to suspend payments during the banking crisis of 1893 later that year.
It was amalgamated into the National Bank of Australasia
The National Bank of Australasia was a bank based in Melbourne. It was established in 1858, and in 1982 merged with the Commercial Banking Company of Sydney to form National Australia Bank.
History
In 1858, Alexander Gibb, a Melbourne gentlema ...
in 1918, taking effect from October that year.
The bank's former headquarters was demolished in 1932. The building's ornate doorway was saved during demolition after calls from the Royal Victorian Institute of Architects
(United we advance architecture)
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, status = Professional body; members association
, headquarters = L1/41 Exhibition St, Melbourne
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, dismantled and relocated to the University of Melbourne
The University of Melbourne is a public research university located in Melbourne, Australia. Founded in 1853, it is Australia's second oldest university and the oldest in Victoria. Its main campus is located in Parkville, an inner suburb no ...
, first as the entry to their School of Physiology and then in 1973 as an entrance to a car park. Many other buildings constructed by the bank for their branches remain today, with the former Bendigo branch listed on the Victorian Heritage Register
The Victorian Heritage Register (VHR) lists places deemed to be of cultural heritage significance to the State of Victoria, Australia. It has statutory weight under the Heritage Act 2017. The Minister for Planning is the responsible Minister. ...
.
Notes
{{Reflist Defunct banks of Australia Banks established in 1856 1856 establishments in Australia Companies based in Melbourne