BankSA, officially known as the Bank of South Australia, has a rich history of serving the local communities in the southern state.

The Savings Bank of South Australia, the forerunner of today’s BankSA, began its operations on 11 March 1848 as a one-person outfit that offered a place where the citizens could entrust their life savings. A month later, the fledgling bank made its first loan to the founder of what would be a prominent wholesale harness and hardware business in the colony. 

The Savings Bank of Australia later merged with the former State Bank of South Australia to form the state government-owned State Bank in 1984. However, a few years later, the bank collapsed and was bailed out by the government before it was sold to Advance Bank in 1992.

Come 1997, the bank, now trading under the name BankSA, was bought by St.George, thus becoming the fifth largest bank in Australia. 

Following Westpac’s merger with St.George in 2008, BankSA now operates as a division of the Westpac Banking Corporation. It offers a comprehensive range of banking and financial services, including home loans, personal loans, savings and transaction accounts, term deposits, and credit cards, among other products. 

BankSA remains a prominent financial institution in South Australia, serving one in four South Australians through its large network of branches and ATMs, as well as Internet and mobile banking platforms. 

The Adelaide-based bank plays a significant role within the large Westpac network. It forms part of the group that serves over 12.7 million customers across its various brands which also include Westpac, St.George, Bank of Melbourne, and RAMS.