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Bank Of Melbourne (2011)
Bank of Melbourne is a financial institution operating in Victoria, Australia. A subsidiary of the Westpac Group, it was re-established as a separate entity, and re-commenced operations on 25 July 2011. The "new" 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 activities of the business operate independently of the Westpac Group. Westpac has owned Bank of Melbourne, and the rights to the brand, since its acquisition of the bank in 1997. History The RESI Statewide Building Society was granted a banking licence and established the Bank of Melbourne in July 1989, listing it on the Australian Stock Exchange on 13 July 1989. In 1996, the bank acquired the Victorian business of Challenge Bank from Westpac. On 3 April 1997, Westpac made a $1.43 billion bid to acquire the Bank of Melbourne; on 29 September 1997, holders of 96% of the ordinary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Westpac
Westpac Banking Corporation, known simply as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales. Established in 1817 as the Bank of New South Wales, it acquired the Commercial Bank of Australia in 1982 before being renamed to Westpac Banking Corporation. Westpac is one of Australia's Big Four (banks)#Australia, Big Four banks, and is Australia's first and oldest banking institution. Its name is a portmanteau of "Western" and "Pacific". As of 2021, Westpac has 14 million customers worldwide, and employs around 40,000 people. History Established in Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ... in 1817, the Bank of New South Wales (BNSW) was the first bank in Australia. Edward S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victoria, Australia
Victoria is a state in southeastern Australia. It is the second-smallest state with a land area of , the second most populated state (after New South Wales) with a population of over 6.5 million, and the most densely populated state in Australia (28 per km2). Victoria is bordered by New South Wales to the north and South Australia to the west, and is bounded by the Bass Strait to the south (with the exception of a small land border with Tasmania located along Boundary Islet), the Great Australian Bight portion of the Southern Ocean to the southwest, and the Tasman Sea (a marginal sea of the South Pacific Ocean) to the southeast. The state encompasses a range of climates and geographical features from its temperate coastal and central regions to the Victorian Alps in the northeast and the semi-arid north-west. The majority of the Victorian population is concentrated in the central-south area surrounding Port Phillip Bay, and in particular within the metropolitan area ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Australia
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, and a large number of other financial institutions, such as credit unions, building societies and mutual banks, which provide limited banking-type services and are described as authorised deposit-taking institutions (ADIs). Many large foreign banks have a presence, but few have a retail banking presence. The central bank is the Reserve Bank of Australia (RBA). The Australian government’s Financial Claims Scheme (FCS) guarantees deposits up to $250,000 per account-holder per ADI in the event of the ADI failing. Banks require a bank licence under the ''Banking Act 1959''. Foreign banks require a licence to operate through a branch in Australia, as do Australian-incorporated foreign bank subsidiaries. Complying religious charitable development funds (RCDFs) ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Westpac Banking Corporation
Westpac Banking Corporation, known simply as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales. Established in 1817 as the Bank of New South Wales, it acquired the Commercial Bank of Australia in 1982 before being renamed to Westpac Banking Corporation. Westpac is one of Australia's Big Four banks, and is Australia's first and oldest banking institution. Its name is a portmanteau of "Western" and "Pacific". As of 2021, Westpac has 14 million customers worldwide, and employs around 40,000 people. History Established in Sydney in 1817, the Bank of New South Wales (BNSW) was the first bank in Australia. Edward Smith Hall was its first cashier and secretary. During the 19th and early 20th century, BNSW opened branches first throughout Australia and Oceania: at Moreton Bay (Brisbane) in 1850; in Victoria in 1851; in New Zealand in 1861; in South Australia in 1877; in Western Australia in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Australia
The following is the list of banks in Australia, as well as restricted ADIs, credit unions, friendly societies and subsidiaries and branches of foreign banks in Australia. Financial institutions in Australia are supervised by the Australian Prudential Regulation Authority (APRA) as authorised deposit-taking institutions (ADI) under the ''Banking Act 1959'' (Cth), as at 2 August 2017. Central bank *Reserve Bank of Australia Australian-owned ADIs (e.g. banks and building societies) Restricted ADIs (Restricted Authorised Deposit-taking Institutions) Restricted ADIs are newly licensed ADIs within Australia. Restricted ADIs have the same obligations as full ADIs, but are restricted to only taking a total of $2 million of customer deposits during their restricted period. To protect these deposits, Restricted ADIs are required to hold a minimum of $3 million of prudential capital, as well as a $1 million resolution reserve to resolving any legal matters (or government costs for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Challenge Bank
Challenge Bank was an Australian bank. It was established in April 1987 when the Hotham Permanent Building Society of Victoria and Perth Building Society of Western Australia merged. In December 1995 it was purchased by Westpac. In May 1996, the Victorian business was sold to the Bank of Melbourne that in turn was purchased by Westpac in 1997. Government of Victoria
The Victoria State Government, also referred to as just the Victorian Government, is the state-level authority for Victoria (Australia), Victoria, Australia. Like all state governments, it is formed by three ...
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Australian Stock Exchange
Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as, The Sydney Stock Exchange, a separate entity). The ASX was formed on 1 April 1987, through incorporation under legislation of the Australian Parliament as an amalgamation of the six state securities exchanges, and merged with the Sydney Futures Exchange in 2006. Today, ASX has an average daily turnover of A$4.685 billion and a market capitalisation of around A$1.6 trillion, making it one of the world's top 20 listed exchange groups. ASX Clear is the clearing house for all shares, structured products, warrants and ASX Equity Derivatives. Overview ASX Group is a market operator, clearing house and payments system facilitator. It also oversees compliance with its operating rules, promotes standards of corporate governance amo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Melbourne (1989)
The Bank of Melbourne is a financial institution based in Melbourne, Australia, established in 1989 and taken over by the Westpac Banking Corporation (Westpac) in 1997. In 2004, Westpac rebranded the Bank of Melbourne branches as Westpac branches. In 2011, Westpac resurrected the brand after rebranding its purchase of Bank of St George in Melbourne specifically and possibly in response to its initial closing of the brand. History The Bank of Melbourne was established in July 1989, following the granting of a banking licence to the RESI Statewide Building Society, with a listing on the Australian Securities Exchange following on 13 July 1989. The first chairman of the bank was Christopher Stewart, who chose Australian actor Jack Thompson to head the bank's TV advertising campaign, which ran for a decade. The bank focused operations on retail banking, with a branch network and operations focused on the state of Victoria. As a former building society, the bank was also heavily invo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RESI Statewide Building Society
The Bank of Melbourne is a financial institution based in Melbourne, Australia, established in 1989 and taken over by the Westpac Banking Corporation (Westpac) in 1997. In 2004, Westpac rebranded the Bank of Melbourne branches as Westpac branches. In 2011, Westpac resurrected the brand after rebranding its purchase of Bank of St George in Melbourne specifically and possibly in response to its initial closing of the brand. History The Bank of Melbourne was established in July 1989, following the granting of a banking licence to the RESI Statewide Building Society, with a listing on the Australian Securities Exchange following on 13 July 1989. The first chairman of the bank was Christopher Stewart, who chose Australian actor Jack Thompson to head the bank's TV advertising campaign, which ran for a decade. The bank focused operations on retail banking, with a branch network and operations focused on the state of Victoria. As a former building society, the bank was also heavily invo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Melbourne, William Street Melbourne, 2011
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
