Bendigo Bank

By: EconomyWatch Content   Date: 30 October 2009

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Bendigo Bank merged with Adelaide Bank in November 2007. The merged entity’s name is Bendigo and Adelaide Bank Limited and it operates four distinct brands. While the merged entity offers retail services through Bendigo Bank, it uses the Adelaide Bank unit to operate its wholesale banking business.  

Bendigo Bank: History

Started in 1858 as a fixed-term (terminating) building society with an aim to improve conditions in the Bendigo goldfields, Bendigo Bank continued to evolve through a series of mergers and acquisitions. In 1992, the company [Bendigo Mutual Permanent Land and Building Society (BBS) as it was called at that time] became the first bank to introduce the concept of "Green Loans" in Australia. Throughout the 1990s, BBS continued to expand its market reach through acquisitions and other initiatives. It also converted to the status of a bank, which is when it changed its name to Bendigo Bank.

Bendigo Bank started its "Community Bank" program in 1998, with the first branches opening in the western Victoria towns of Minyip and Rupanyup on June 26.

Before the merger, Bendigo Bank had roughly 900 outlets across Australia. Of these, the company had:

  • More than 160 company owned branches

  • 220 community owned Community Bank branches

  • 100 agencies

  • 400 Elders Rural Bank outlets

After the merger, the bank had more than 400 company owned branches.

Bendigo Bank: Services

Bendigo and Adelaide Bank divides its services as follows:

  • Bendigo Bank offers banking and wealth management services to individuals and small to medium businesses.

  • Adelaide Bank takes care of wholesale banking, providing mortgages to a large number of Australians.  

Bendigo Bank: Credit Cards Offered by the Bank 

  • Bendigo Basic Black Credit Card: Thiscredit card charges a very low annual interest rate on cash advances and balance transfers and charges no extra fee for additional cardholders.

  • Bendigo Red Credit Card: The unique features of this credit card are:

    • Has a lower interest rate on purchases

    • Interest on cash advances and balance transfers is low

  • Bendigo Gold Credit Card: Through this card, you can obtain travel assistance and credit limits of up to $10,000. The interest rates applicable on purchases are highly competitive.


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