HBOS Australia

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In 1995, Bank of Scotland commenced a rapid expansion of its overseas activities. In Australia that year, BOS acquired 100% of BankWest from the Government of Western Australia and established the operations of BOS International and Capital Finance. In 1996, BOS sold 49% of BankWest through a public share offer and the company was listed on ASX.

In 1998, BOS saw a gap in the Australian market for credit insurance and established St Andrew's Insurance (Australia) Pty Ltd.

BOS merged with Halifax Plc in 2001 to become a major force in banking in the UK and created the HBOS Plc group, which has become the fourth largest player in this market.

In 2003, HBOS, in line with its global expansion strategy, invested further in the Australian market by acquiring the remaining share of BankWest to give it 100% ownership[1].



  1. ^ HBOS Australia History of HBOS Australia, accessed 23/03/07