Bank Of Western Australia

History

• 1895: The Government of Western Australia established the Agricultural Bank of Western Australia. The Agricultural Bank of Western Australia was not a 'bank' in that it did not collect deposits from the public. Its liabilities were government bonds. It was a government instrumentality that lent exclusively to farmers.
• 1945: The bank changed its name to Rural and Industries Bank of Western Australia ("R&I").
• 1990: The bank incorporated.
• 1994: The bank changed its name to Bank of Western Australia.
• 1995: Bank of Scotland bought 51 percent of the bank and did an IPO (initial public offering) for the remaining 49 percent.
• 2001: Halifax Group (a large UK financial institution) merged with Bank of Scotland to form HBOS plc.
• 2003: HBOS plc acquired all outstanding shares to make Bank of Western Australia a wholly-owned subsidiary.

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