St. George Bank (SGB)

Shares / Stock Code

SGB

Stock Exchange / Sharemarket

ax

St. George Bank Limited (SGB) is an Australian-based company engaged in the provision of banking and financial services particularly retail banking, capital markets, commercial banking and group treasury as well as funds management. SGB was listed on the 2nd of July 1992 on the Australian Stock Exchange (ASX). Its average annual revenue reaches approximately $6 billion out of its issued capital of $3 billion. Its headquarters is located in New South Wales, Australia and to date; around 8,500 people are employed in the company. St. George Bank Limited operates mainly in four business segments: The Institutional and Business Banking (IBB), Retail Bank (RB), Wealth Management (WM) and the BankSA (BSA).

The Institutional and Business Banking (IBB) segment of St. George Bank Limited is in charge of serving the company’s institutional clients through services like derivatives, treasury market services, foreign exchange and money market. Aside from these services, IBB also embarks on securitisation, wholesale funding, capital market and liquidity management operations.

The Retail Bank (RB) segment of St. George Bank Limited is responsible for the management of the general retail banking operations of the company. The management operations of this segment include the residential and consumer lending, personal finance services, financial planners, small business banking as well as the call and term deposits.

The Wealth Management (WM) segment of St. George Bank Limited engages in the provision of different wealth management services. These services include administration and fund management services, financial planning, margin lending, and investment advices.

St. George Bank's BankSA segment embarks in the company’s operation in South Australia and Northern Territory. It is the leading provider of personal finance and housing products in the states in Australia and Northern Territory and it runs the largest ATM network branch in South Australia as well. This segment offers different banking services like internet banking, personal banking, business as well as treasury services that include investments, foreign exchange, capital markets and other international services.

St. George Bank Limited (SGB) Company History

In 1937, St. George Bank was established as a cooperative building society. The company joined the Cornulla district cooperative building society in 1945. It has 130 branches in Australia, being the largest building society by 1980. In 1992, they became a full-service bank then two years later, they expanded the business in the commercial banking segment with the acquisition of Barclays' commercial banking operations, Advance Bank, and BankSA in Australia in 1997.

They continued with their strategy of acquisition; they acquired SEALCORP, which is an investment products and personal savings provider, then acquiring the services of KPMG Financial Services, and the Scottish Pacific Business Finance Group or the SPBFG. St. George also acquired the Deutsche Bank’s margin lending business in 2001.

Ascalon Capital Managers, a member of St. George Group, sold its equity stake to Jenkins Investment Management in 2005. The company signed a three year contract with UGS or United Group Services in Philadelphia. United Group Services will provide CRE or the Corporate Real Estate facilities, real estate, and management of capital works projects, according to the signed agreement.

In August 2006, New Zealand and St. George Bank sold the residential mortgage lending portfolio of the Superbank to GE money. In the same month, they acquired HSBC Bank Australia’s margin lending assets, which has loans receivable of more or less 420 million Australian dollars that would increase to 2.5 billion Australian dollar of the company’s margin loan book.