Bendigo Bank
 |
|
| Public | |
| Traded as | ASX: BEN |
| Industry | Financial services |
| Founded | 1858 |
| Headquarters | Bendigo, Victoria, Australia |
|
Key people
|
Mike Hirst (CEO) Robert Johanson (Chairman) |
| Products | Banking, financial and related services |
| Revenue |
 AU$1.6 billion |
|
AU$426 million |
|
| Website | www.bendigobank.com.au |
Bendigo and Adelaide Bank is an Australian financial institution, operating primarily in retail banking. The company was formed by the merger of Bendigo Bank and Adelaide Bank in November 2007.
Before the merger, Bendigo Bank delivered its products and services through almost 900 outlets Australia-wide, including more than 160 company owned branches, 220 community owned Community Bank branches of Bendigo Bank, 100 agencies and 400 Elders outlets. The bank's branches are primarily in Victoria and Queensland. The merged bank now has over 400 branches, including 25 that came with the merger of Adelaide Bank.
Bendigo Bank national headquarters remain in the city of Bendigo, with a major office in Adelaide, South Australia and regional offices in Docklands, Melbourne and Ipswich, Queensland.
The company started in 1858 as a fixed-term (terminating) building society to improve conditions in the Bendigo goldfields during the Victorian gold rush.
At seven years old, in 1865, the company restructured, taking the name Bendigo Mutual Permanent Land and Building Society, which incorporated in Victoria 11 years afterwards. It continued to expand its holdings when, in 1978, it merged with Bendigo and Eaglehawk Star, a building society established in 1901.
Further growth involved the acquisition of the building societies Sandhurst, in 1983, and Sunraysia, in 1985, a merger with Sandhurst Trustees Ltd and the acquisition of Capital and Compass building societies.
In 1982 BBS became the first financial institution in Australia to introduce successfully both Visa credit and debit cards.
1993 saw BBS receive a stockmarket listing. Its growth continued throughout the 90s when it acquired National Mortgage Market Corporation Limited in 1995, a mortgage-manager company focussed on loan introducers and brokers. In that year BBS converted to a bank with the name Bendigo Bank and, further, acquired Monte Paschi Australia, which it renamed Cassa Commerciale Australia in 1997.
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Wikipedia