Bank of Adelaide

The Bank of Adelaide was founded in 1865 in Adelaide, the capital of South Australia.[1] It was incorporated by an act of the Parliament of South Australia.[2] The original directors of the company were Henry Ayers, Thomas Greaves Waterhouse, Robert Barr Smith, Thomas Magarey and George Peter Harris.[3]

The bank had all its branches within South Australia except one at 255 George Street, Sydney, to service the wool trade.

The Bank of Adelaide was taken over in 1979 by ANZ and merged into that organisation,[4] after bailing out a subsidiary finance company (the Finance Corporation of Australia) that had lent too much to people without the security to cover the loans.[5]

References

  1. ↑ "Deed of Settlement, The Bank of Adelaide". Retrieved 30 December 2016 – via State Library Victoria.
  2. ↑ "The Bank of Adelaide Act 1865". Government of South Australia. Retrieved 30 December 2016.
  3. ↑ "THE BANK OF ADELAIDE". The Adelaide Express. II, (517). South Australia. 10 August 1865. p. 3. Retrieved 30 December 2016 – via National Library of Australia.
  4. ↑ Guide to Australian Business Records
  5. ↑ Australia's Banking History


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