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Bank of New South Wales (1817 - 1982)

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Location: Sydney, New South Wales

The company was established in 1816, commenced business in 1817 and was subsequently incorporated under the "Bank of New South Wales Act 1850" of the New South Wales Parliament. In 1982 it with merged with The Commercial Bank of Australia Ltd to form the Westpac Banking Corporation.


Details
The bank was established in 1817 and incorporated in 1850 by the New South Wales Act. In 1927 the Western Australian Bank was purchased, and on November 27, 1931, the Australian Bank of Commerce was purchased. In 1955, the company entered the savings bank field with the formation of its own subsidiary. A 40 % interest was obtained in Australian Guarantee Corp in July 1957, which was increased to 100% in 1988.

In July 1958, the Wales Unit Investment Ltd was formed and its first trust opened on November 3, 1958.

In 1981 the bank had approximately 1,349 branches throughout Australia and the world including New Zealand, London, New York, Fiji, P.N.G, and Singapore. The Bank’s name was changed to the Westpac Banking Corporation in 1982 following a merger with the Commercial Bank of Australia Ltd.

 
Sources used to compile this entry: Original data from D. Terwiel, S. P. Ville and G. A. Fleming, Australian Business Records: An Archival Guide, Canberra : Australian National University, Faculty of Economics and Commerce, Dept. of Economic History, 1998. Subsequent information provided by RMIT, MBIT student, Catherine Nolan.
 
Related Entities for Bank of New South Wales

Previous and Subsequent Entities

 1852 - 1910 The Australian Joint Stock Bank Limited
 1863 - 1918 The City Bank of Sydney
       1841 - 1927 Western Australian Bank
       1910 - 1931 The Australian Bank of Commerce Limited
             1817 - 1982 Bank of New South Wales
                   1982 - Westpac Banking Corporation

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Structure based on ISAAR(CPF) - click here for an explanation of the fields.Prepared by: Bruce A. Smith
Created: 1 December 1999
Modified: 30 July 2005

Published by Archive Research Consultancy, 1999-2006
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Updated: 3 December 2006
http://www.gabr.net.au/biogs/ABE0026b.htm

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