Challenge Bank was an Australian bank. It was established in April 1987 when the Hotham Permanent Building Society of Victoria and Perth Building Society of Western Australia merged.BNZ buyer of 7pc stake in Challenger Canberra Times 16 July 1988 page 17Historical Series Breaks Reserve Bank of Australia It produced one of the most iconic ads of the 1980s. In December 1995 it was purchased by Westpac.Our History Westpac In May 1996, the Victorian business was sold to the Bank of Melbourne that in turn was purchased by Westpac in 1997.Westpac reports $565 million profit in first half 1996 Westpac 14 May 1996Westpac and Bank of Melbourne (Challenge Bank) Act 1996 Government of Victoria The Challenge Bank brand was retired in the early 2000s.
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