BankSA
 | |
| Formerly | Savings Bank of South Australia State Bank of South Australia Bank of South Australia |
|---|---|
| Type | Subsidiary of Westpac |
| Industry | Finance and insurance |
| Founded | 11 March 1848, as the Savings Bank of South Australia[1] |
| Headquarters | Adelaide, South Australia |
Area served | South Australia & Northern Territory |
| Products | Personal Banking, Business Banking and Insurance |
| Parent | Westpac |
| Website | Official website |
BankSA, formerly known as the Bank of South Australia, the State Bank of South Australia and the Savings Bank of South Australia is the largest bank in South Australia. In 2008 it became part of the Westpac Banking Group. It has been the principal partner of the Adelaide Fringe since 2005.
History[]
The forerunners of the Bank of South Australia 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.[citation needed]
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 loans. Advance Bank was purchased by St. George Bank in 1997, and the State Bank became a division of Westpac Banking Corporation when St George and Westpac merged in 2008. As of 2019, BankSA is a division of Westpac.[citation needed]
In October 2014, the bank rebranded itself under the name BankSA.[2]
Adelaide Fringe partnership[]
In November 2005, the State Bank began its sponsorship of Australia's biggest arts festival, the Adelaide Fringe, with a A$1.4 million partnership until 2010.[3] This sponsorship has been renewed, and BankSA is the Fringe's principal partner until at least 2020.[4]
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
- 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[]
- ^ "Banks in Australia". Retrieved 19 August 2019.
- ^ "A New Identity for South Australia's bank". 14 October 2014. Retrieved 19 August 2019.
- ^ "BankSA - Principal Partner of the Adelaide Fringe". UTS. Retrieved 19 August 2019.
- ^ "About Fringe". Adelaide Fringe. Retrieved 18 August 2019.
Further reading[]
- Our Story - History of the bank
External links[]
- Banks of Australia
- Banks established in 1848
- Companies based in Adelaide
- Australian companies established in 1848
- Bank stubs