Bank of South Australia
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| Subsidiary of Westpac | |
| Industry | Finance and insurance |
| Founded | 11 March 1848, as the Savings Bank of South Australia[1] |
| Headquarters | Adelaide, South Australia |
Number of locations | 100+ |
Area served | South Australia & Northern Territory |
| Products | Personal Banking, Business Banking and Insurance |
| Website | www.banksa.com.au |
The Bank of South Australia, known commercially as BankSA, is the largest financial institution in South Australia and the state's largest home lender.[2]
History
The forerunners of BankSA were the Savings Bank of South Australia, founded in 1848, and the State Bank of South Australia. These were merged under the name State Bank of South Australia in 1984.
BankSA is now a division of Westpac Banking Corporation, having been a division of St. George Bank before Westpac and St. George merged in 2008. The State Bank of South Australia was sold to Advance Bank due to a collapse and bailout by the Government of South Australia in 1992, when non-performing assets exceeded 30% of the loan book. Advance Bank was purchased by St. George in 1997.
BankSA has over 100 branches in South Australia and the Northern Territory.
See also
There are a number of building societies and banks with intertwining histories. These include:
- St.George Bank
- St.George Co-operative Building Society Ltd. / St.George Building Society
- Cronulla & District Co-operative Building Society
- St.George and Cronulla Building Society
- Advance Bank
- NSW Permanent Building & Investment Society / NSW Permanent Building Society
- BankSA / Bank of South Australia
- Westpac Banking Corporation
- Too many to mention - those of major relevance to St.George / Advance Bank / BankSA:
- RESI Statewide Building Society
- Bank of Melbourne (1989)
- Bank of Melbourne (2011)
References
External links
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