The first commercial bank in Western Australia was created eight years after the establishment of the Swan River Colony in 1829.
Entries in italics indicate a locally (Western Australian) domiciled operation. Early 1830s 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 Bank of Western Australia is established by prominent local businessmen including George Leake as its first chairman 1841 Bank of Western Australia is sold to the Bank of Australasia 1841 Western Australia Bank is established 1845 Original Bank of Western Australia closes 1855 Government savings bank opens 1863 Post Office Savings Bank opens 1862 Perth Building Society opens 1866 Branch of National Bank of Australasia opens 1878 Branch of Union Bank of Australia opens 1883 Branch of Bank of New South Wales opens 1888 Branch of Commercial Bank of Australia opens 1895 Government of Western Australia establishes the Agricultural Bank of Western Australia 1927 Western Australian Bank acquired by Bank of New South Wales 1945 Agricultural Bank renamed to Rural & Industries Bank 1964 Town & Country Building Society establishedSmart lenders poised to seize opportunity Business News 18 April 2012 1983 Western Australian Building Society agrees to merger with the Town & Country Building Society on 27 April 1983 1987 Perth Building Society merges with Hotham Building Society to form Challenge Bank 1990 Town & Country Building Society acquired by ANZ Bank 1994 Rural & Industries Bank renamed Bankwest 1995 Challenge Bank acquired by WestpacChallenge signs merger deal with Westpac Canberra Times 19 September 1995 page 17 1995 Bank of Scotland acquired Bankwest, and as part of the sale agreement, offered 49 per cent of the shares in BankWest to the public. BankWest shares listed on the Australian Securities Exchange on 1 February 1996. 2001 Halifax merged with Bank of Scotland to form HBOS. HBOS then acquired all the outstanding shares of Bankwest, making it HBOS's wholly owned subsidiary 2008 Commonwealth Bank acquires Bankwest from HBOS for $2.1bn, fallout from the 2008 financial crisisCommonwealth Bank of Australia to acquire Bank West and St Andrew's Commonwealth Bank 8 October 2008
References
External links WA SNAPSHOTS - Banking 1841 - 1927 Western Australian Bank