disputed . relevant discussion may be found on the talk page . please do not remove this message until conditions to do so are met . august 2016 learn how and when to remove this template message st.george bank a division of westpac banking corporation type business division of westpac industry banking fate acquired by westpac in 2008 founded as a building society 1937 as a bank & public company 1992 headquarters sydney australia area served australia key people george frazis ceo products retail business and specialist banking website www.stgeorge.com.au st.george bank is an australian bank with its headquarters in sydney . since a 2008 merger the bank has been part of the westpac banking corporation group having previously been an independent legal entity . in 2010 as part of the westpac group st.george was deregistered as a company and ceased to be a standalone authorised deposit taking institution adi . 1 the bank provides services primarily in new south wales but with growing representation across a number of industry and business segments in queensland and western australia and in victoria before the relaunch of the bank of melbourne brand in july 2011 also another division of westpac . st.george also operates in south australia and the northern territory under its subsidiary banksa a division of westpac . the bank has a large number of retail branches and atms across australia and some back office operations in bangalore india . contents 1 history 1.1 origins 1.2 merger with westpac 1.3 relaunch of bank of melbourne 1.4 recent years 2 market positioning 3 offshore 4 see also 5 references 6 external links history edit origins edit old st. george building society passbook issued 1989 . the current bank is the result of the merger and or acquisition of a number of building societies and banks . the st.george co operative building society ltd. was formed on 6 may 1937 in the sydney suburb of hurstville with george cross as the first chairman of the board . the cronulla & district co operative building society was formed in june 1937 . the two co operatives merged in 1945 and with the post war housing boom the st.george and cronulla building society expanded rapidly with 38 branches established by 1955 . in 1955 the society became a permanent building society which enabled its loans to be larger and terms shorter . in 1961 the first sydney branch opened in miranda followed by the first sydney city branch in august 1963 . the expansion of the branch network continued through the 1960s . the society also operated 41 agencies . 2 in 1972 st.george was the first building society to go on line with the installation of an ibm mainframe computer connected to 30 terminals . shortly after the black light signature system for passbooks was introduced a system which had been adopted by the banks in the late 1960s . 2 in 1979 radio announcer john laws almost caused a run on st george building society when he told his listeners a big building society is going to go bust . st george kept its doors open and paid out every withdrawal . the then nsw premier neville wran later stood outside a branch and said he could personally guarantee the society s financial security . 3 4 in the 1990s the headquarters moved to montgomery street kogarah and in 1992 the society gained its banking license demutualised and became a public company . the nsw permanent building & investment society was established in 1939 . 5 the society became a bank in 1985 under the name advance bank . in 1848 the savings bank of south australia opened for business in gawler place adelaide and the organisation which became the state bank of south australia opened in rural south australia . both were guaranteed by the government of south australia . the two banks were merged in 1984 and traded as the state bank of south australia retaining the government guarantee . after excessive insufficiently secured lending through the 1980s the bank collapsed and because of the guarantee was bailed out by the state government . in 1992 the bank was split into the bad bank with the non performing debts and the good bank . st.george bank branch in chatswood sydney 6 april 2005 . the good bank was acquired by the advance bank who kept it operating as a separate entity under the name of the bank of south australia trading as banksa . 6 advance bank and its banksa subsidiary was in turn taken over in 1997 by st.george bank . like advance bank st.george has continued to run banksa as a separate entity it has 55 branches in metropolitan adelaide 66 in rural south australia totalling 121 overall in the state more than any other bank in south australia four in the northern territory and one in queensland . on 1 november 2006 st.george bank posted a net profit of a 1bn for 2005 06 a 17.9 % increase on the previous year and a record profit for the bank . at the time of its acquisition by westpac banking corporation in 2008 st.george bank limited as it was then known was the fifth largest bank operating in australia . 7 merger with westpac edit st george bank headquarters in kogarah sydney . banksa head office on king william street adelaide . on 14 november 2007 paul fegan was announced as the new ceo of the st.george bank to replace gail kelly who had departed on 17 august 2007 to become ceo of westpac . on 9 may 2008 westpac and st.george released communications outlining an intention to merge which was approved by st.george shareholders on 13 november 2008 and upheld by the australian federal court on 17 november 2008 . immediately following the court decision paul fegan announced his resignation as ceo and managing director . st.george and banksa became a subsidiary of westpac on 1 december 2008 . upon completion of the merger with westpac greg bartlett former group executive in charge of st.george institutional and business bank was appointed ceo of the bank reporting to westpac s then ceo gail kelly . relaunch of bank of melbourne edit the bank of melbourne is a subsidiary of westpac banking corporation and was relaunched in august 2011 . previously westpac banking corporation had purchased the old bank of melbourne business in 1997 a separate and independently operating building society located in melbourne and after some preliminary steps subsequently closed its doors in 2002 and merged the remaining operations under the westpac banner . the relaunched bank of melbourne is replacing the st.george bank brand completely throughout victoria . recent years edit in late 2010 greg bartlett announced that he would step down as chief executive officer in december after a long and successful tenure with the company . rob chapman managing director of banksa would be appointed in the role . since coming to office rob chapman has led st.george bank in conjunction with and with support from its parent westpac banking corporation on a multibranded strategy which has seen st.george take group business units such as rams and the relaunched bank of melbourne underneath its banner . the bank is now commonly referred to as the st.george banking group . market positioning edit st.george building in perth western australia st.george typically promotes itself as more friendly and customer service oriented than the big four banks operating nationally in australia citation needed although it is now a part of the westpac group . the bank was previously recognized as a customer service leader in third party surveys 8 but the 2010 choice consumer survey showed customer satisfaction was on par with the big four lagging behind small credit providers . 9 more recent when surveys which show the bank is beginning to regain some ground . citation needed despite its roots as a building society specialising in home and consumer lending today the bank provides funding to a variety of specialist industries and market segments including commercial property construction and development invoice discounting interest rate hedging foreign exchange trade finance and automotive finance formerly the barclay bank business . the automotive finance division also operates under st.george finance limited and st.george motor finance limited a subsidiary of st.george bank and has been rebranded in victoria under the relaunched bank of melbourne . citation needed offshore edit st george has moved parts of its back office work to india . in 2007 cards and loan services work was transferred to ibm in bangalore 10 and most recently when 22 kogarah jobs went to india bringing the total to about 122 . this is in addition to the approximately 70 information technology jobs that had been moved to the indian firms tata consultancy services and hindustan computers limited . citation needed in more recent times when st george bank has begun to reverse the trend to offshore processing bringing card operations back to australia . citation needed see also edit australia portal list of companies of australia as mentioned in the body of the article there are a number of building societies and banks with intertwining histories . these include st.george bank st.george co operative building society ltd. st.george building society cronulla & district co operative building society st.george and cronulla building society advance bank nsw permanent building & investment society nsw permanent building society banksa bank of south australia savings bank of south australia state bank of south australia westpac banking corporation too many to mention those of major relevance to st.george banksa resi statewide building society bank of melbourne 1989 bank of melbourne 2011 references edit this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . october 2012 learn how and when to remove this template message http www.westpac.com.au about westpac media media releases 2010 1 march 2010 a b history of st.george bank . www.banks.com.au . the sydney morning herald 4th march 1979 page 19 cba s twitter nightmare highlights anonymity risk 28 august 2012 australian financial review . retrieved 4 october 2012 . nsw permanent building society . the sydney morning herald . 21 february 1968 . p. 19 . selected events in the evolution of the australian financial system . australian bankers association inc. retrieved 26 august 2011 . note username and password required . st george achieves nsw growth 1 november 2006 sydney morning herald . retrieved 2 october 2012 . article about bank customer satisfaction bank satisfaction survey 2010 . choice . retrieved 2 october 2012 . st. george sends more aussie jobs offshore finance sector union external links edit official st.george bank website official banksa website v t e westpac banking corporation brands westpac st.george bank banksa bank of melbourne bt financial group rams asgard advance asset management magnitude securitor ascalon hastings funds management xylo westpac pacific banking westpac asia westpac new zealand notable people gail kelly ted evans rob chapman v t e banking in australia bank regulation australian prudential regulation authority australian competition and consumer commission australian payments clearing association four pillars policy central bank reserve bank of australia big four australia and new zealand banking group anz commonwealth bank of australia national australia bank westpac banking corporation other banks amp bank of melbourne wbc bank of queensland banksa wbc bankwest cba bendigo and adelaide bank cuscal defence bank heritage bank macquarie group me bank bank australia qt mutual bank rural bank suncorp st.george bank wbc teachers mutual bank victoria teachers mutual bank foreign banks arab bank bank of china beirut hellenic bank citibank australia hsbc bank australia ing direct investec rabobank non bank lenders rams wbc mortgage choice ge capital aussie home loans category banks of australia list of banks in 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