- 1990-03-01 - 1994-07-30 (Creation)
- 1990-03-01 - 1994-07-30 (Accumulation)
Level of description
Name of creator
In 1916, the Agricultural Bank of Western Australia amalgamated with the Industry Assistance Board to form the Rural & Industries Bank of Western Australia. This amalgamation was done under the Rural & Industries Bank of Western Australia Act 1916.
After the amalgamation, the Rural & Industries Bank moved from being a small mortgage bank for agriculture to a State trading bank.
Following the passing of new legislation in 1945 (the Rural & Industries Bank Act 1944), the bank was involved in a number of schemes for the allocation of money to assist the State. These included the:
A: Commonwealth Reestablishment Scheme (CRE);
B: War Service Land Settlement (WSLS);
C: Esperance Plains Development Scheme (EPDS);
D: Dairy Farm Consolidation Plan (DFCP);
E: Hay Balers & Forage Harvesters (HBFH);
F: Farm Water Supply (FWS);
G: Farm Management Advisory Service (FMAS).
As part of privatisation processes, the name of the bank was changed to BankWest in May 1994. Full privatisation of the bank occurred on 1 March 1996.
(References: Lockyer, S., "The Development of the R & I Bank for its Inception to the Present Day", R & I Bank, 1970; Spillman, K., "A History of the R & I Bank of WA", UWA Press, 1989; Taylor, G., "The Agricultural Bank & The Industries Assistance Board", Macmillan & Co. Ltd., 1921.)