Bank of Melbourne

Bank of Melbourne is an Australian banking brand serving Victoria and operating within the Westpac Group. Although the name is associated with a bank established in 1989, the present-day Bank of Melbourne began operations on 11 March 2011 after Westpac relaunched the brand for the Victorian market. The relaunch followed Westpac’s acquisition of the earlier Bank of Melbourne in 1997 and its subsequent merger with St George Bank in 2008. The 2011 business was principally a rebranding of St George’s Victorian operations, using St George’s infrastructure and employees while presenting itself to customers as a locally focused institution. The original Bank of Melbourne was established after RESI Statewide Building Society received a banking licence in July 1989. It became a publicly listed company on the Australian Securities Exchange on 13 July that year. In November 1996 it acquired the Victorian business of Challenge Bank. Westpac announced a $1.43 billion takeover proposal in April 1997, and shareholders approved the transaction in September 1997. As a condition of the takeover, Westpac continued to operate the entity under the Bank of Melbourne name for three years. The brand was eventually retired in January 2004 and replaced by Westpac branding. Westpac revived the name in 2011 as part of a strategy to maintain distinct regional banking brands. The new Bank of Melbourne was designed to have a strong Victorian identity while remaining backed by Westpac’s capital, technology, products and broader distribution network. Its customer-facing operations were presented as locally managed and separate from the Westpac brand. Scott Tanner led the relaunch as chief executive, and the brand adopted a navy shield logo intended to evoke Melbourne and Victoria. Ogilvy and Designworks were credited with creating the identity. The bank has offered standard personal and business banking services, including transaction and savings accounts, home lending, personal finance, business banking, cards, payments and digital banking. Its physical network historically extended across metropolitan Melbourne and major Victorian centres such as Ballarat, Bendigo, Geelong and Shepparton. At its height, the dedicated network included approximately 106 branches, many of them former St George locations rebranded for the Victorian market. Customers can also use Westpac branches and ATMs for cash services and general assistance, while BankSA and St.George branches elsewhere in Australia have provided access to broader banking services. In 2015 the brand was selected as anchor tenant for the redevelopment of Melbourne’s Rialto precinct. Its head office moved to the redeveloped Rialto building at the intersection of Collins and King streets in Melbourne’s central business district in 2017. The brand has also maintained local governance features, including a Victorian executive team and an advisory board. From 2021 onward, Westpac substantially reduced Bank of Melbourne’s dedicated branch footprint as banking activity shifted toward digital channels and shared Group facilities. Numerous Victorian branches closed between 2021 and 2025, and further closures or co-location arrangements were planned in 2026. The changes reduced the standalone network while preserving access through Westpac’s national branch and ATM infrastructure. Bank of Melbourne remains an active Westpac brand with a Victorian market identity, but its physical distribution is considerably smaller than during its post-2011 expansion.

The Bank of Melbourne name has two distinct phases. The original institution was created by RESI Statewide Building Society after it obtained a banking licence in July 1989. It listed on the Australian Securities Exchange on 13 July 1989 and expanded its Victorian presence by acquiring Challenge Bank’s Victorian business in November 1996. Westpac announced a $1.43 billion offer for the bank on 3 April 1997. On 29 September 1997, shareholders holding 96 percent of ordinary shares approved the takeover. Regulatory conditions required Westpac to preserve the Bank of Melbourne identity for three years, but the brand was later retired in January 2004 and replaced by Westpac. Westpac’s 2008 merger with St George Bank created the operational basis for a later revival. On 11 March 2011, Westpac relaunched Bank of Melbourne as a dedicated Victorian brand, largely rebadging St George’s Victorian business. The relaunch allowed Westpac to maintain a locally recognisable customer proposition while sharing Group systems, capital and infrastructure. Scott Tanner was associated with the relaunch as chief executive. The new identity used a navy shield logo, developed by Ogilvy and Designworks, with visual references to Melbourne’s architecture and Victoria’s state colour. After relaunch, the bank developed a substantial branch presence across metropolitan Melbourne and major Victorian regional centres. Its network reached approximately 106 branches at its peak. The business served consumers, households and businesses through conventional branch banking, lending, cards, payments, telephone services and digital channels. It also maintained a local management structure, including a Victorian executive team and an advisory board chaired by Elizabeth Proust. Mark Melvin was identified as a chief executive of the bank in later descriptions. The brand’s corporate presence in Melbourne was reinforced by its selection in 2015 as anchor tenant for the Rialto’s approximately $100 million Midtown redevelopment. In 2017, Bank of Melbourne moved its head office to the redeveloped Rialto building at Collins and King streets in the central business district. Beginning in 2021, Westpac reduced the standalone Bank of Melbourne branch network. Closures affected metropolitan and regional locations, including branches in Melbourne suburbs and centres such as Bendigo, Shepparton, Warrnambool, Horsham and Geelong. The reduction accelerated through 2023, 2024 and 2025. By late 2024, only a small number of dedicated locations remained, and additional closures were scheduled for 2026. Some regional access was maintained through co-location with Westpac branches, while customers could use Westpac branches and ATMs for cash transactions and general banking support. Bank of Melbourne customers could also obtain full banking services at BankSA and St.George branches elsewhere in Australia, although those brands have limited or no dedicated presence in Victoria. The current brand therefore combines a specifically Victorian market identity with increasingly shared Westpac Group distribution and infrastructure.

1. 2021Dedicated branch reduction begins

   Westpac began a substantial reduction of the standalone Bank of Melbourne branch network.

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2. 2017Head office moved to Rialto

   The bank moved its head office to the redeveloped Rialto building in Melbourne’s CBD.

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3. 2015Rialto redevelopment anchor tenancy announced

   Bank of Melbourne was selected as anchor tenant for the Rialto Midtown redevelopment.

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4. 2011Bank of Melbourne relaunched

   Westpac relaunched the brand on 11 March using St George’s Victorian infrastructure and employees.

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5. 2008Westpac merges with St George Bank

   The merger supplied the operational platform later used for the Bank of Melbourne brand revival.

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6. 2004Original brand retired

   The original Bank of Melbourne brand was replaced by Westpac branding in January.

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7. 1997Westpac takeover approved

   Westpac’s proposed acquisition was approved by holders of 96 percent of ordinary shares.

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8. 1996Acquired Challenge Bank’s Victorian business

   The bank expanded its Victorian business through the acquisition of Challenge Bank’s Victorian operations.

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9. 1989Original Bank of Melbourne established

   RESI Statewide Building Society received a banking licence and established the original Bank of Melbourne in July.

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10. 1989Listed on the Australian Securities Exchange

    The original bank listed on the ASX on 13 July.

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A locally oriented Victorian banking brand backed by the scale, systems and distribution capabilities of Westpac Group.

• Everyday and savings accountsRetail banking

  Transaction and savings accounts form the core of the brand’s personal banking proposition. They support routine payments, deposits, withdrawals and household cash management through branches, ATMs and Westpac Group digital channels.

• Home loansLending

  Residential lending, including home purchase and refinancing, is a major conventional banking service associated with the brand. Lending is delivered within the wider Westpac Group operating and product framework.

• Personal loans and credit cardsConsumer finance

  The bank provides consumer finance products for personal borrowing and card payments. These offerings complement everyday accounts and are supported by the Group’s payment and servicing infrastructure.

• Business bankingBusiness banking

  Business customers are served through business transaction accounts, payments and lending services. The proposition is oriented toward Victorian businesses while drawing on Westpac’s broader banking capabilities.

• Digital and telephone bankingBanking channels

  Online, mobile and telephone channels provide account servicing and payment functionality alongside the branch network. The shift toward these channels has coincided with the reduction of dedicated Bank of Melbourne branches.

• 2011Bank of Melbourne brand relaunch

  Victoria, Australia

  Westpac reintroduced the Bank of Melbourne identity as a locally focused Victorian banking brand, supported by St George’s existing operations and employees.

  Outcome. The relaunched brand established a distinct Victorian customer proposition within Westpac Group.

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• 2021Reduction of dedicated branch networkStrategy

  Westpac began reducing the standalone Bank of Melbourne branch network as banking access increasingly shifted toward digital and shared Group channels.

  What changed. Branches across metropolitan and regional Victoria were closed or later co-located with Westpac facilities.

  Aftermath. The dedicated network fell substantially from its historical peak, while customers retained access to Westpac branches and ATMs for many services.

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• 2015Rialto headquarters and anchor tenancy decisionStrategy

  The Rialto complex was undergoing a major Midtown redevelopment in Melbourne’s central business district.

  What changed. Bank of Melbourne became the announced anchor tenant and subsequently relocated its head office to the redeveloped building.

  Aftermath. The move was completed in 2017 and strengthened the brand’s physical association with central Melbourne.

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• 2011Revival of the Bank of Melbourne brandStrategy

  Following Westpac’s merger with St George Bank, Westpac sought to maintain a differentiated local banking identity in Victoria.

  What changed. Westpac relaunched Bank of Melbourne using St George’s Victorian infrastructure and employees, with a new visual identity and local management structure.

  Aftermath. The brand resumed trading on 11 March 2011 and expanded its dedicated Victorian branch presence.

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• 1997Westpac acquisition of Bank of MelbourneM&A

  Westpac proposed a $1.43 billion acquisition of the original Bank of Melbourne after the bank had expanded its Victorian business.

  What changed. Shareholders approved the transaction in September 1997, and Westpac acquired the institution subject to conditions concerning continued use of the Bank of Melbourne name.

  Aftermath. The bank remained under the Bank of Melbourne name for several years before the identity was retired and replaced by Westpac branding in 2004.

  Proposed acquisition value. (1997)

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• 2025Additional Bank of Melbourne branch changes scheduled for 2025 and 2026

  The branch-reduction program continued with the closure of Highpoint in 2025 and scheduled changes at further Victorian locations in 2026, including co-location of some services with Westpac.

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• 2024Further Victorian branch closures and co-location arrangements announced

  Additional Bank of Melbourne branches closed across Victoria, including locations in metropolitan Melbourne and regional centres, while the Westpac Group continued to provide shared access through its wider network.

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• 2021Westpac reduces Bank of Melbourne’s dedicated branch network

  A broad program of Victorian branch closures began, reducing the number of locations operating exclusively under the Bank of Melbourne name.

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• 2017Bank of Melbourne moves head office to redeveloped Rialto building

  The brand moved its head office to the redeveloped Rialto building at Collins and King streets in Melbourne’s central business district.

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• 2015Bank of Melbourne selected as anchor tenant for Rialto redevelopment

  The bank was announced as the anchor tenant for the redevelopment of Melbourne’s Rialto complex.

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• 2011Westpac relaunches Bank of Melbourne brand in Victoria

  Westpac reintroduced the Bank of Melbourne name, using the Victorian operations and infrastructure of St George Bank to create a locally positioned banking brand.

  Product launch
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1. Bank of Melbourne (2011)
2. Bank of Melbourne official website