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On 3 April 1997, Westpac made a $1.43 billion bid to acquire the Bank of Melbourne. At the time, Westpac had a branch network almost twice as large in Victoria as the Bank of Melbourne (212 branches), but a smaller share of the local lending and deposit markets (8.6% and 9.1% respectively). [2]
1996: Westpac sold Challenge Bank's Victorian assets to the Bank of Melbourne. 1997: Westpac acquired Bank of Melbourne in Victoria, paying an estimated price in excess of A$1.4 billion. [4] Westpac retained the rights to the Bank of Melbourne name and logos, but in 2004 rebadged the branches as Westpac. [5] In 2011, Westpac relaunched the ...
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 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 ...
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 which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...
In December 1995 it was purchased by Westpac. [3] In May 1996, the Victorian business was sold to the Bank of Melbourne that in turn was purchased by Westpac in 1997. [4] [5] The Challenge Bank brand was retired in the early 2000s.
Melbourne: 1840 Subsidiary of Australian Unity Limited Auswide Bank (formerly Wide Bay Building Society) Bundaberg: 1966: Avenue Bank: Sydney: 2021 [11] Bank Australia (previously Members and Education Credit Union & Bankmecu) Melbourne: 1957: Customer-Owned [12] Certified 2020 [13] BankFirst: Melbourne: 1972: Bank of Melbourne: Melbourne: 2011 ...
Pages in category "Westpac" The following 25 pages are in this category, out of 25 total. ... Bank of Melbourne (1989) Bank of Melbourne (2011) Bank of New South Wales;