The Advance Bank was an Australian bank that existed as a bank from 1985 until 1997, when it merged with St George Bank. It is not related to Advance Bank AG of Germany (which was shut down by Allianz AG in 2003).
It started as the NSW Permanent Building & Investment Society in 1939.
In 1982, it established a funds management division, Advance Asset Management, which is now a specialist asset management business within the Westpac Group. "Its focus is on asset allocation and risk management, implemented through a multi-manager process, providing investment opportunities across a range of asset classes, including shares, property, fixed interest and cash."
Advance Bank (and its BankSA subsidiary) was taken over in 1997 by St George Bank, itself another former building society.
There are a number of building societies and banks with intertwining histories. These include:
- St.George Bank
- Advance Bank
- BankSA / Bank of South Australia
- Westpac Banking Corporation
- "Selected events in the evolution of the Australian financial system", Australian Bankers' Association Inc, Retrieved 26 August 2011.
- Advance Asset Management, www.advance.com.au
- "John Thame", Bloomberg Businessweek. Retrieved 26 August 2011.
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