Bendigo and Adelaide Bank (BEN)

Stock Code

BEN

Stock Exchange

Australian Securities Exchange

Bendigo and Adelaide Bank Limited (BEN), formerly called the Bendigo Bank Limited is an Australia-based company engaged in providing its clients with a range of finance and banking services such as retail and business banking, commercial finance, foreign exchange and treasury services, funds management, financial advisory, trustee services as well as superannuation. BEN was listed on the Australian Stock Exchange on the 19th of December 1985. Its average annual revenue reaches approximately AUD$1.2 million. Its headquarters is located in Victoria, Australia and to date; around 2430 people are employed in the company. Bendigo and Adelaide Bank Limited operates mainly in four business segments: community banking; retail banking; joint ventures, alliances and corporate support and wealth creation.

The community banking segment of BEN offers services such as community bank, building better communities, community enterprise foundation, community enterprise, community sector banking and events, community initiatives, sponsorship and lead on.

The retail banking segment of Bendigo and Adelaide Bank Limited is in charged of providing services that include bank accounts, credit cards, and personal, home and generation green loans, insurance, investment, retirement plans, foreign currency, online, phone and branch banking as well as ATMs. The joint ventures, alliances and corporate support segment of BEN include Tasmanian Banking Services (TBS) and Elders Rural Bank (ERB).

The wealth creation segment of Bendigo and Adelaide Bank Limited provides services such as transactional banking, business finance, equipment finance, cash management, web partner, electronic funds transfer, credit cards, agribusiness, charges and fees, foreign exchange, international trade, insurances, merchant services, business focus, margin lending and branch, phone and online banking.

Bendigo and Adelaide Bank Company History

Bendigo Bank was founded as Bendigo Permanent Land and Building Society in the Bendigo goldfield in 1858. Bendigo’s attainments were Eaglehawk in 1978, Sandhurst in 1983 and Sunraysia in 1985.

Bendigo Bank with Elders Australia and the IOOF agreed to merge their companies in the late 1990s. The result was the Bendigo Investment Services and in 1992, Capital and Compass was acquired by the company. Sandhurst Trustees was enlisted in ASX in 1991, National Mortgage Market Corporation in 1995; Monte Paschi Australia which was later renamed Cassa Commerciale Australia, Worley Securities in 1997 and Victorian Securities in 1999.

Bendigo administered Australian Friendly Society and Sandhurst Trustees, NMMC, Worley and Victorian Securities became fully owned divisions of the company. The company's new banking organisation was fostered by Bendigo Bank together with its partner Tasmanian Trustees to function in Tasmania, Australia in 2000. First Australian was taken by Bendigo and the effect was the attainment of 47 branches in the northern state of Queensland. It soon extended into the Canberra region starting numerous branches there. An affiliation was undertaken with the MasterCard International for the new Bendigo Red MasterCard credit card in 2003. The company and ABN AMRO signed up an agreement to widen their international trade services.

The bank and ETRADE cooperated to open a new online share trading platform in 2004. The bank auctioned one million shares in IOOF Holding, showing about 1.6 % of the company’s stock. Oxford Funding was secured by the bank in 2005. To safeguard rural and regional Australian communities, AAPT cooperated with Bendigo Bank as the joint holder of Community Telco Australia.

Robert Johanson was selected as the Chairman of the company in 2006. Bendigo Health Cover was opened to maintain a complete range of health insurance in the same year. In November 2007, Bendigo Bank and Adelaide bank merged thereby forming the Bendigo and Adelaide Bank Limited in March 2008.