Commercial Banking Company of Sydney explained

The Commercial Banking Company of Sydney Limited
Fate:Merger with National Bank of Australia
Successor:National Australia Bank
Foundation:1834
Defunct:1982
Location:Sydney, Australia
Industry:Banking

The Commercial Banking Company of Sydney Limited, also known as the CBC, or CBC Bank, 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.

History

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, 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.

The CBC grew to service the expanding pastoral and farming industries of the then Colony of New South Wales.[3]

It absorbed the Bank of Victoria in 1927.[4]

In July 1982, CBC Bank helped to fund a tour of Bob Merritt's play The Cake Man to Denver, Colorado.[5]

In 1982 the bank merged with the National Bank of Australasia to form National Australia Bank.

Legacy

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

Notes and References

  1. Web site: Some Important Dates in the C.B.C.'s History . 28 September 2008 . Macquarie Communications.
  2. Web site: Coal, climate change collide as customers query banks' green credentials. 20 May 2014. The Sydney Morning Herald.
  3. Web site: National Australia Bank rules out funding Adani's Carmichael coal mine. 3 September 2015. The Sydney Morning Herald.
  4. News: Year's banking changes . . Western Australia . 28 December 1927 . 14 February 2020 . 12 . Trove .
  5. News: Return of The Cake Man. The National Times. Berwyn. Lewis. 27 June 1982. 29.