Bendigo Bank
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Bendigo Bank (ASX: [BEN]
The bank's national headquarters are in the city of Bendigo, with regional headquarters based in Melbourne Docklands.
Community Bank® is an innovative franchise program in which the local community owns and operates a Bendigo Bank branch (which is separately incorporated), and Bendigo Bank provides all the banking infrastructure and support. The community company and Bendigo Bank share all branch revenue with whatever is left over after the company pays its branch running costs remaining as profit. The program was a response to a massive closure of bank branches in rural areas. Bendigo Bank has since extended the program to areas that have bank service.
History
- 1858: Company started as a fixed-term (terminating) building society to improve conditions in the Bendigo goldfields.
- 1865: The company restructured and assumed the name Bendigo Mutual Permanent Land and Building Society.
- 1876: The Bendigo Building Society (BBS) incorporated in Victoria.
- 1978: BBS merged with Bendigo and Eaglehawk Star (est. 1901), a building society.
- 1983: BBS acquired Sandhurst, a building society.
- 1985: BBS acquired Sunraysia, a building society.
- 1992: BBS merges with Sandhurst Trustees Limited.
- 1992: BBS acquired two building societies, Capital and Compass.
- 1993: BBS received a stockmarket listing.
- 1995: BBS acquired National Mortgage Market Corporation Limited. NMMC is a mortgage manager focussed on Loan Introducers and Brokers.
- 1995: BBS converted to a bank with the name Bendigo Bank.
- 1995: Bendigo Bank acquired Monte Paschi Australia, which it renamed Cassa Commerciale Australia in 1997.
- Late 1990s: Bendigo Bank and Elders Australia formed Elders Rural Bank, a joint venture company to focus on agribusiness and rural Australia. The bank received its operating license in 2000.
- 1998: Bendigo Bank initiated the Community Bank® program.
- 1999: Bendigo Bank and IOOF announce alliance and mutual shareholding.
- 2000: Bendigo Bank acquired First Australian Building Society in Queensland.
- 2005: Bendigo Bank begins construction of $75 million head office expansion in Bendigo and opens purpose built premises on Harbour Esplanade in Melbourne Docklands for regional headquarters
External links
- [Bendigo Bank] - Official site
- [Elders Rural Bank] - Official site
- [Community Bank] - Official site
- [National Mortgage Market Corporation] - Official site
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