Advance Bank Review
Advance bank started as‘ the new NSW Permanent Building and investment society’, in 1939. It existed as an Australian bank from 1985 until 1997 when it was merged with St. George Bank.
The bank established a funds management division, advance assets management which is now a specialist asset management business within the Westpac Group, in 1982.
The bank which first traded as NSW Permanent Building and investment society was demutualised in 1985 and became what is known as the ADVANCE BANK.
Acquisition of Advance Bank
Advance bank acquired state bank of South Australia in 1995, which it ran as a separate business unit under the name of bank of South Australia, which brand name is BankSA.
However, St. George Bank, acquired advance bank and its subsidiary-BankSA, in the year 1997.
Advance bank focuses on asset allocation and risk management, which is implemented through a multi- manager process.
This provides investment opportunities over a range of asset classes which includes shares, property, cash and fixed interest.
Products and services
Advance bank offers its customers with banking and other financial services