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Bank of Queensland
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About Bank of QueenslandBank of Queensland is a cornerstone Queensland organisation, the second largest Queensland-based financial institution and the state’s fifth-largest listed company.During its 130-year history, it has grown with Queensland and is now spreading its wings into New South Wales and Victoria. The Bank was established in 1874 as The Brisbane Permanent Benefit Building and Investment Society, the first permanent building society formed in Queensland. In 1887, the society converted to a bank then in 1942, following mergers with other Queensland-based financial institutions, a trading bank. The name Bank of Queensland was adopted in 1970 just as its operations were computerised. A year later the Bank became a publicly traded company listed on the Australian Stock Exchange. In 1982 the Bank incorporated Bank of Queensland Savings Bank Ltd as a wholly owned subsidiary. Stowe Electronic Switching Pty Ltd was acquired in 1991 and renamed Queensland Electronic Switching Pty Ltd. The first regional branches — Cairns and Townsville — were opened in 1985. Between August, 2001 and August, 2004, Bank of Queensland opened 44 new Owner-Managed Branches (OMB) throughout Queensland. Bank of Queensland have started to open the 100 branches they plan to have in New South Wales and Victoria. In 2003 the Bank of Queensland purchased two major companies: Australia’s second largest non-bank ATM provider ATM Solutions Australasia and leading equipment finance firm UFJ Finance Australia. This gave the Bank its first significant interstate presence in becoming a major player in these fast-growing industries. The past ten years have seen the Bank receive a welter of accolades for its outstanding performance. In the mid-90s the Bank of Queensland was rated Best Performing Regional Bank in the Financial Institutions Performance Survey for four consecutive years. In 2000 it was named the winner of the Choice Regional Bank of the Year award. These achievements were capped in 2005 when Bank of Queensland was named Best Regional Bank by the Banking and Finance Industry for the second year in a row. It highlights the high regard in which it is held by its peers, as well as its customers. |
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