The National Bank of Australasia was a bank based in

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 established in 1858, and in 1982 merged with the

Commercial Banking Company of Sydney The Commercial Banking Company of Sydney Limited, also known as the CBC, or CBC Bank, was a bank based in Sydney, Australia. It was established in 1834, and in 1982 merged with the National Bank of Australasia to form National Australia Bank. Hi ...

to form

National Australia Bank National Australia Bank (abbreviated NAB, branded nab) is one of the four largest financial institutions in Australia (colloquially referred to as "The Big Four") in terms of market capitalisation, earnings and customers. NAB was ranked 21st-la ...

History

In 1858, Alexander Gibb, a Melbourne gentleman, enlisted Andrew Cruickshank, a local merchant and pastoralist, to raise the capital to establish National Bank of Australasia with headquarters in

. The legal work establishing the bank was performed by a predecessor of

King & Wood Mallesons King & Wood Mallesons (KWM) is the largest global law firm in Asia. It has 30 offices and more than 3,500 legal professionals in Europe, North America, Asia and the Middle East. Its predecessor firms include '' SJ Berwin'' of the United Kingdom's ...

. Cruickshank became its first chairman while Gibb left after being passed over for the position of General Manager. The bank opened its first branch in

South Australia South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...

the same year. Expansion to other Australian states followed, with branches opening in

Tasmania ) , nickname = , image_map = Tasmania in Australia.svg , map_caption = Location of Tasmania in AustraliaCoordinates: , subdivision_type = Country , subdi ...

(1859),

Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...

(1866),

New South Wales ) , nickname = , image_map = New South Wales in Australia.svg , map_caption = Location of New South Wales in AustraliaCoordinates: , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , es ...

(1885) and finally

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , established_ ...

(1920). An early branch established in

Mauritius Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...

(1859) closed within a year, but a

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

branch (1864) was established to handle financing and payment for Australian exports of wool, gold and other commodities, and imports to Australia, was more successful. National Bank of Australasia was one of many banks that closed its doors during the banking crisis of 1893. Director

John Grice Sir John Grice (6 October 1850 – 27 February 1935) was an Australian businessman, company director and University of Melbourne vice-chancellor. Biography Grice was born in Selly Oak, fourth son of Richard Grice, a Selly Oak merchant. He was ed ...

was active in the crisis, from which the bank re-emerged as a public limited company, incorporated on 23 June 1893. For the next half century, growth was stimulated by a number of acquisitions: *

Colonial Bank of Australasia The Colonial Bank of Australasia was a bank operating primarily in the Australian colony and then state of Victoria from 1856 to 1918. It commenced operation on 14 April 1856, following its incorporation by the Parliament of Victoria through t ...

(est. 1856) in 1918, bringing additional branches in

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 ...

and New South Wales. * Bank of Queensland in 1922, with branches in Queensland, New South Wales and Victoria. The Bank of Queensland was itself result of the merger in 1917 of

Royal Bank of Queensland The Royal Bank of Queensland was a bank in Queensland, Australia. History The Royal Bank of Queensland commenced operation in Brisbane Brisbane ( ) is the capital and most populous city of the Australian state of Queensland, and the thi ...

(est. 1886) and

Bank of North Queensland The Bank of North Queensland was formed in 1887 in Townsville with branches in Sydney and London. In 1893 there were branches in: Ayr, Cairns, Charters Towers, Cooktown, Herberton, Normanton, Rockhampton and Thursday Island and agencies at ...

(est. 1888). *

Queensland National Bank The Queensland National Bank is a former bank in Queensland, Australia. History In 1872, the bank was established in Brisbane. In December 1914, the bank had its head office in Brisbane with branches throughout Queensland at Allora, Aramac, A ...

(est. 1872) in 1948, with branches in Queensland, New South Wales and Victoria. *

Ballarat Banking Company The Ballarat Banking Company was a long-lasting regional bank based in the city of Ballarat, Victoria, Australia, operating from 1865 to 1955. It commenced operation in June 1865, having occupied the former Ballarat premises of the Oriental Bank ...

(est. 1865) in 1955 The bank opened a representative office in Tokyo in 1946, later upgraded to a branch in 1985. The bank's overseas interest expanded more rapidly in the 1970s. It opened a branch in Singapore in 1971, and representative offices in Jakarta (1973) and Hong Kong (1974). It took

minority interest In accounting, minority interest (or non-controlling interest) is the portion of a subsidiary corporation's stock that is not owned by the parent corporation. The magnitude of the minority interest in the subsidiary company is generally less than 5 ...

s in merchant banks in these locations at the same time, and in Hong Kong established a 50–50 joint venture merchant bank with Mitsubishi Bank and Trust, but withdrew from these arrangements in 1984. Its first US presence was established in 1977 with a branch and an agency in Los Angeles that closed in 1993.

References

{{NABGroup Banks established in 1858 1858 establishments in Australia National Australia Bank