for the canadian bank see bank west . for the united states bank see bank of the west . bankwest type division of commonwealth bank of australia industry financial services founded 1895 area served australia key people rob de luca managing director andrew whitechurch egm retail sinead taylor egm business andrew doyle cfo 1 products transaction accounts savings accounts home loans term deposits credit cards website bankwest bankwest previously known as the bank of western australia is an australian full service bank based in perth western australia . formerly a wholly owned subsidiary of hbos plc it was sold in october 2008 to the commonwealth bank of australia for a 2.1 billion 5 6 and operates as a division of its parent company . bankwest also has offices in adelaide brisbane canberra melbourne and sydney . contents 1 history 2 see also 3 sources 4 references 5 external links history edit in 1895 the government of western australia established the agricultural bank of western australia as a rural lender to support the state s farming industries . despite its name it was technically not a bank in that it did not collect deposits from the public its liabilities being government bonds . it was a government instrumentality that lent exclusively to farmers . in 1945 the agricultural bank became a full trading bank and changed its name to the rural and industries bank of western australia also known as r & i bank . this enabled it to expand its retail and commercial banking services throughout the state . in 1956 it became a savings bank and in 1985 the first sydney stores opened . the bank was incorporated in 1990 and then in 1994 changed its name to the bank of western australia limited with the trading name bankwest in preparation for privatisation . in december 1995 the bank of scotland acquired the bank and as part of the sale agreement offered 49 per cent of the shares in bankwest to the public . bankwest shares listed on the australian stock exchange on 1 february 1996 . in 2001 halifax group a large uk financial institution merged with bank of scotland to form hbos plc. hbos then acquired all the outstanding shares of bankwest making it hbos s wholly owned subsidiary . in 2003 bankwest announced the acquisition of api finance from australian pharmaceutical industries ltd api for 300m in line with its industry specialisation growth strategy in the business banking segment . 7 late in 2006 bankwest announced it would be leaving their landmark tower in favour of a new complex at raine square . in early june 2008 reports began to circulate that hbos intended to sell bankwest . 8 in september 2008 lloyds tsb bought hbos in a deal worth over 12.2 billion . this was followed in october 2008 when with significant problems of their own hbos lloyds tsb agreed to the sale of bankwest and st andrews insurances to commonwealth bank of australia cba for an initial purchase price of a 2.1 billion . refer share sale deed provided products and services this section needs expansion . you can help by adding to it . december 2009 bankwest offers a full range of banking products including loans credit cards transaction and savings accounts . in 2007 bankwest launched the bankwest regular saver account for individuals . 9 in 2012 bankwest launched the student edge debit card linked to their student account . in 2016 bankwest terminated its share trading platform and all bankwest online share trading accounts were closed on 31 may 2016 . 10 11 see also edit timeline of banking in western australia sources edit spillman ken 1989 horizons a history of the rural and industries bank of western australia . perth university of western australia press . references edit our leaders . bankwest . commonwealth bank of australia . 2015 . retrieved 15 october 2015 . commonwealth bank of australia annual report 2015 pdf . commonwealth bank of australia . 30 june 2015 . p. 10 . retrieved 15 october 2015 . http www.rainesquare.com.au https au.news.yahoo.com thewest wa a 14908738 new home for historic bank commonwealth bank of australia 2008 . commonwealth bank of australia to acquire bank west and st andrew s . archived from the original on 12 october 2008 . retrieved 8 october 2014 . bank of western australia limited 2008 . bankwest and st andrew s sold to commonwealth bank . archived from the original on 9 october 2008 . retrieved 9 october 2008 . api and bankwest announce alliance pdf press release . australian pharmaceutical industries limited api & bankwest . 29 april 2003 . retrieved 21 march 2012 . jimenez katherine 4 june 2008 . bankwest says it s safe despite sale rumours . the australian . retrieved 5 june 2008 . bankwest takes aim with an 8 per cent savings account australia s highest and no account fees . bankwest . 30 july 2007 . retrieved 10 july 2009 . https bankwest.coretrading.com.au https bankwest.coretrading.com.au public homepage announcements.aspx id bkwstannouncement14 external links edit official website of bankwest 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 australia financial system in australia economy of australia v t e commonwealth bank brands commonwealth bank bankwest asb sovereign limited commonwealth securities colonial first state comminsure notable people david j turner chairman ian narev ceo craig james commsec economist retrieved from https en.wikipedia.org w index.php title bankwest & oldid 740726828 categories 1895 establishments in australiabanks established in 1895banks of australiacompanies based in perth western australiaformer government owned companies of western australiahidden categories use australian english from may 2014all wikipedia articles written in australian englishuse dmy dates from february 2011pages using infobox company with unsupported parametersarticles to be expanded from december 2009all articles to be expandedarticles using small message boxes navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to 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