Commercial Banking Company of Sydney

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The Commercial Banking Company of Sydney Limited
company   OOjs UI icon edit-ltr-progressive.svg
Industry Banking
FateMerger with National Bank of Australia
Successor National Australia Bank
Founded1834
Defunct1982
Headquarters Sydney, Australia

The Commercial Banking Company of Sydney Limited was a bank based in Sydney, Australia. It was established in 1834, and in 1982 merged with the National Bank of Australasia to form National Australia Bank.

Contents

History

Former CBC Bank in Wagga Wagga, New South Wales Former CBC Bank Wagga.jpg
Former CBC Bank in Wagga Wagga, New South Wales

On 8 September 1834 the Sydney Herald carried a notice titled "The Commercial Banking Company of Sydney" proposing the establishment of a new bank. [1] It began operations on 1 November 1834 [1] and in 1848 was incorporated by an Act of the New South Wales Parliament. Sir Edward Knox was the first bank manager and later a director. [2] Thomas Barker (born 1799 London, England, died 1875 Bringelly, New South Wales), a manufacturer, engineer, politician, landowner and philanthropist was a notable director and chairman. William Rutledge (born 1806 - died 1876 Port Fairy, Victoria, Australia), merchant, banker and early settler, also became a director of the bank in 1839. [3]

The CBC grew to service the expanding pastoral and farming industries of the then Colony of New South Wales. [4]

It absorbed the Bank of Victoria in 1927. [5]

Legacy

The bank constructed many substantial and ornate buildings as branches throughout Australia. A number of extant buildings are heritage-listed, including:

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References

  1. 1 2 "Some Important Dates in the C.B.C.'s History". Macquarie Communications. 28 September 2008.
  2. "Coal, climate change collide as customers query banks' green credentials". The Sydney Morning Herald. 20 May 2014.
  3. {{cite web|url = http://adb.anu.edu.au/biography/rutledge-william-billy-2622%7Ctitle = 'Rutledge, William (Billy) (1806–1876)'
  4. "National Australia Bank rules out funding Adani's Carmichael coal mine". The Sydney Morning Herald. 3 September 2015.
  5. "YEAR'S BANKING CHANGES". The West Australian . Western Australia. 28 December 1927. p. 12. Retrieved 14 February 2020 via Trove.