History

HBOS Australia was formed in 2003 by bringing together the four Australian businesses owned by HBOS plc in Australia . Our integration saw Bankwest, Capital Finance, BOS International and St Andrew's combine forces to provide our customers with complete financal solutions.

Our history stems back to 1995 when Bank of Scotland (BoS) commenced an expansion of its overseas activities. In Australia that year, BoS acquired 100% of Bankwest from the West Australian government and established Capital Finance and BOS International.

In 1996 however, BoS sold 49% of its ownership of Bankwest, through a public share offer and the company was listed on the Australian Stock Exchange.

In 1998, BoS saw an opportunity in the Australian market to establish a credit insurance business and founded St Andrew's Insurance.

BoS then merged with Halifax in 2001 and became a major force in the UK financial services industry by creating HBOS plc.

In line with its global expansion strategy, HBOS plc acquired 100% ownership of Bankwest, in 2003 and began the establishment of HBOS Australia.

Once the HBOS Australia Group had formed, operations grew rapidly with more than 6500 colleagues based across Australia , New Zealand and Hong Kong .

The St Andrew's Insurance business underwent two acquisitions, purchasing RACV Financial Services, expanding its wealth management operations in Victoria, and Queensland financial planning firm Whittaker Macnaught.

in July 2007, Bankwest, announced its intention to open more than 160 new east coast branches - 125 retail banking branches and 35 business banking centres – over the next three years. Bankwest, opened the first of its new look retail banking branches in Mt Druitt , New South Wales .

In September 2008, the Lloyds TSB banking group began exclusive talks with HBOS Australia's parent company, HBOS plc, to acquire the HBOS business. Shortly after, HBOS plc announced the sale of Bankwest, and St Andrew's to the Commonwealth Bank of Australia Group.

The re-formed HBOS Australia Group, which became part of the Lloyds Banking Group on 19 January 2009, consists of two operating businesses, BOS International and Capital Finance, and is supported by colleagues in areas such as human resources, information technology, risk management and corporate services.

Bank of Scotland Treasury also has a branch in Australia.

On 12 August, 2009, HBOS Australia officially became Lloyds International.