13 Facts About Bankwest


Bankwest is an Australian full-service bank based in Perth, Western Australia.

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Bankwest has offices in Adelaide, Brisbane, Canberra, Melbourne and Sydney.

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Bankwest shares listed on the Australian Stock Exchange on 1 February 1996.

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In 2003, Bankwest announced the acquisition of API Finance from Australian Pharmaceutical Industries Ltd for $300m in line with its industry specialisation growth strategy in the business banking segment.

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Late in 2006, Bankwest announced it would be leaving their landmark tower, in favour of a new complex at Raine Square.

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Bankwest offers a full range of banking products, including loans, credit cards transaction and savings accounts.

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In 2007, Bankwest launched the Bankwest Regular Saver account for individuals.

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In 2012 Bankwest launched the Student Edge debit card linked to their Student account.

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In 2016, Bankwest terminated its share trading platform and all Bankwest online share trading accounts were closed on 31 May 2016.

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In February 2022, Bankwest announced it would stop offering business products and services and eventually shift existing business customers to Commonwealth Bank.

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On 18 July 2018, Bankwest announced plans to close 29 branches in New South Wales, Victoria and Queensland from 17 August to 7 September.

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Bankwest managing director Rowan Munchenberg said an overwhelming number of its customers were choosing to bank online, prompting the closure of the stores.

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The group claimed that Bankwest "moved aggressively to reduce its exposure to small- and medium-sized commercial property clients" after being taken over by the Commonwealth Bank in 2008.

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