- Timeline of banking in Western Australia
The first commercial bank in Western Australia was created eight years after the establishment of the
Swan River Colonyin 1829.
Note: bold entries indicate a locally (W.A.) domiciled operation
*Early 1830s — The
Colonial Secretary of Western Australia, Peter Broun, begins a makeshift banking service out of necessity, despite having no training in finance or accounting. It collapses in 1835.
*June 1837 — the Bank of Western Australia (BWA) is established by prominent local businessmen including George Leake as its first chairman
*1841 — branch of
Bank of Australasiaopens, forcing the closure of the BWA shortly after
*1841 or 1842? — Former BWA directors, including
Edward Hamersley (Snr)and George Shenton Srestablish the Western Australian Bank(WAB)
*1845? — Bank of Australasia closes branch
*1855 — Government savings bank opens
*1863 — Post Office Savings Bank opens
Perth Building Society(PBS) [http://www.gabr.net.au/biogs/ABE0548b.htm] opens
*1866 — branch of National Bank opens
*1878 — branch of
*1883 — branch of
Bank of New South Walesopens
*1888 — branch of
Government of Western Australiaestablishes the Agricultural Bank of Western Australia
*1927 — Western Australian Bank acquired by Bank of NSW
*1945 — Agricultural Bank renamed to the Rural and Industries Bank of Western Australia (R&I)
*1987 — Perth Building Society merges with Hotham Building Society to form
*1990 — Town and Country Building Society, WA acquired by ANZ [http://www.austlii.edu.au/au/legis/wa/consol_act/aanzbglca1995617/notes.html]
*1994 — R&I renamed to Bank of Western Australia Limited, trading as BankWest
*1995 — Challenge Bank acquired by Westpac (formerly Bank of NSW)
*1996 — BankWest listed on
Australian Stock Exchange
HBOS plcacquires controlling interest in Bank of W.A. Australian operation is called HBOS Australia, trading as BankWest for retail and business banking services.
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