Bank of South Australia

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.

For the earlier business (1837–1892) with the same title, see Bank of South Australia (1837).

Bank of South Australia
Formerly
Savings Bank of South Australia
State Bank of South Australia
Bank of South Australia
Subsidiary of Westpac
IndustryFinance and insurance
Founded11 March 1848, as the Savings Bank of South Australia[1]
HeadquartersAdelaide, South Australia
Area served
South Australia & Northern Territory
ProductsPersonal Banking, Business Banking and Insurance
ParentWestpac
WebsiteOfficial website

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.

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.

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]

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See also

There are a number of building societies and banks with intertwining histories. These include:

References
  1. "Banks in Australia". Retrieved 19 August 2019.
  2. "A New Identity for South Australia's bank". 14 October 2014. Retrieved 19 August 2019.
  3. "BankSA - Principal Partner of the Adelaide Fringe". UTS. Retrieved 19 August 2019.
  4. "About Fringe". Adelaide Fringe. Retrieved 18 August 2019.

Further reading


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