Challenge Bank was an Australian bank. It was established in April 1987 when the Hotham Permanent Building Society of Victoria and Perth Building Society of Western Australia merged.[1][2]
| Company type | Public company |
|---|---|
| Originally ASX: CLG | |
| Industry | Retail banking |
| Founded | April 1987 |
| Founder | Hotham Permanent Building Society and Perth Building Society |
| Defunct | 1995 |
| Fate | Acquired by Westpac |
| Headquarters | , |
Area served | Victoria and Western Australia |
| Website | www.challengebank.com.au |
In December 1995 it was purchased by Westpac.[3] In May 1996, the Victorian business was sold to the Bank of Melbourne that in turn was purchased by Westpac in 1997.[4][5] The Challenge Bank brand was retired in the early 2000s.
References
edit- ^ BNZ buyer of 7pc stake in Challenger Canberra Times 16 July 1988 page 17
- ^ Historical Series Breaks Reserve Bank of Australia
- ^ Our History Westpac
- ^ Westpac reports $565 million profit in first half 1996 Westpac 14 May 1996
- ^ Westpac and Bank of Melbourne (Challenge Bank) Act 1996 Government of Victoria