[CAN] Bendigo & Adelaide Bank | 167 Pirie St | 49.5m | 11 lvl

[SRW]

Reminds me a wee bit of the Hills proposal on KWS.

[AtD]

Reminds me a wee bit of the Hills proposal on KWS.

Yes, that was my immediate thought, that Adelaide-Bendigo could use that building as it'd fit their scope of something similar to their Bendigo home. But who'd get naming rights? Adelaide-Bendigo Hills Building

[Mants]

Reminds me a wee bit of the Hills proposal on KWS.

Yes, that was my immediate thought, that Adelaide-Bendigo could use that building as it'd fit their scope of something similar to their Bendigo home. But who'd get naming rights? Adelaide-Bendigo Hills Building

Adelaide Hills Building

[Bulldozer]

Maybe they'll be the anchor tenant for the building you can see in the header of this page?

[crawf]

Reminds me a wee bit of the Hills proposal on KWS.

Yes, that was my immediate thought, that Adelaide-Bendigo could use that building as it'd fit their scope of something similar to their Bendigo home. But who'd get naming rights? Adelaide-Bendigo Hills Building

They could its on King William Street, however its way out of the main financial hub

[skyliner]

But with banks so much is done with IT that geographical isolation (to a degree) should not be of a consequential effect - I think KWS Sth stands a chance with this, especially with the tramline reducing said isolation..

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[JamesXander]

I think its a bit of a pitty the two banks merged. Adelaide bank was one of the fastest growing banks in Aus, and would have been good to see the cities name spread across the nation. I can only assume that benigo will one day change the names of all the branches to 'Bendigo' in a major revamp in 5-10 years time.

Yes I can read the future, lol.

[Cruise]

I can't see that happening James, i mean look at St George, they haven't renamed all their Bank SA branches St George's yet have they?

[nimeton]

From ABC News

Bendigo Adelaide looks at rebranding

Posted 1 hour 52 minutes ago
Updated 46 minutes ago


Rob Hunt: Bendigo and Adelaide Bank looks to rebranding (file photo) (ABC News)

Video: Bendigo Adelaide chairman Robert Johanson tells shareholders that community banking is booming. (ABC News)
Map: Adelaide 5000
The head of Bendigo and Adelaide Bank says there are plans to rebrand the business for a more consistent national approach.

The bank has held its first annual general meeting as a merged business.

The event was in Adelaide and broadcast direct to Bendigo.

Managing director Rob Hunt says, while the Bendigo brand is likely to become the focal point for customer banking, the Adelaide connection will not be lost.

"What we'll have is a series of businesses - some that will be named Bendigo - that'll be the retail perhaps prominently but then also have some other ... connected branding," he said.

"Adelaide is relevant to the customers who've chosen Adelaide in the past, so it's a matter of how do we get that branding right so it honours that past and the history but it also takes leverage of the opportunities of the national brand," he said.

The bank is BBB-rated and, as a consequence, may have to pay the Government a bigger fee than others to guarantee wholesale borrowings of more than $1 million.

Mr Hunt says the bank understands why the Federal Government has moved to guarantee funds, but is concerned there could be unintended consequences.

"We're still trying to get more detail about just how it's going to work and certainly we'll be bringing to Government's attention if we felt that there were some unintended consequences, like monies moving between ADIs [authorised deposit-taking institutions], you know, then we would want to talk to them," he said.

Bendigo and Adelaide Bank has also announced it will redevelop its Hindmarsh Square building in Adelaide into a 17,000-square metre open plan office.

[nimeton]

Further news from Bendigo Bank web site... I wonder if the statement below means they will demolish and rebuild on the current site...? How much space is currently there? 17,000 is more space than the 13,000 reported at the start of the thread

Annual General Meeting: Bank expects continued success
27/10/2008
Bendigo and Adelaide Bank Chairman, Robert Johanson, addressed shareholders today at the Bank’s first annual general meeting held simultaneously in two cities.

During an interactive satellite broadcast, Mr Johanson told shareholders in Adelaide and Bendigo that the Bank was this year celebrating the 150th anniversary of the formation of the first Bendigo Building Society and was well-versed in managing financial crises such as the current situation.

“Bendigo and Adelaide Bank is dealing with this crisis resolutely determined to emerge from it stronger, better equipped to help our customers and partners prosper and, as a result, to prosper ourselves.”

The Chairman said that while the current conditions were “very difficult and dangerous”, the bank was focused on the principles that had stood it in good stead through similar difficulties in the past: “Keep the business simple; work hard to maintain the trust of our customers; don’t take the relationship with customers for granted; support them in difficult times; be self-reliant; don’t depend on others – be they governments or wholesale markets – to save you; build prosperity rather than feed from it.”

Mr Johanson said he expected the banking system would survive, “but in a profoundly different form”.

“Much of it overseas has been already nationalised, the implicit government guarantee for deposits has become for much of the world explicit, differentials for credit quality will be much wider, capital flows will change and consumption patterns will alter.

“Activity based on financial engineering will reduce. Banks will hold more of the assets and liabilities of the community on their balance sheets. Credit will not grow at the unsustainable rates that the system had become used to over the past decade. Banks will be better capitalised.”

Mr Johanson said Bendigo and Adelaide Bank was considering an issue of convertible preference shares to finance its growth and further strengthen its balance sheet by replacing maturing subordinated debt.

He said the Bank was looking at raising capital through a hybrid non-innovative tier one instrument.

“In due course we will consider underwriting our dividend reinvestment plan and to place shares as opportunities arise.

“In all of this, where possible, we will give every opportunity to our existing shareholders to participate and shareholders will receive a priority in any hybrid issue.”

Mr Johanson told the meeting the merger between Bendigo and Adelaide banks was making good progress, with assets and liabilities consolidated on to one balance sheet, data moved on to one system and a consolidated management and board working well.

He announced to the meeting the bank had decided to redevelop the company’s Hindmarsh Square site in Adelaide into a new open-plan environmental five-star green-rated building to house the 900 employees working in the city.

Today’s meeting voted to adopt all resolutions on the meeting agenda. All items of business were approved on a show of hands. Full details of all proposals adopted are available in the Investor Information section of the Bendigo Bank website.

The text of Mr Johanson’s speech and the formal outcomes of the 2008 AGM were lodged with the Australian Stock Exchange earlier today.

[AtD]

Thanks nimeton. Another project for Hindmarsh Square. Hopefully they keep 'Adelaide' in their brand.

[skyliner]

Amen to that. I suggest 'Adelaide Bendigo bank' as Adelaide is a 'class' name. Originally King Willam the forth's wife' 'Adelaide' suggests power, importance, royalty, 'conservatism' and colonial class/growth, solidarity, dependability, strength, style, etc etc. Why miss this? What other city has a royal name?

HSQ seems to be the place development is concentrating around. Hope the development is at least 15 floors.17000 SQM suggests further height unless they buy out surrounding bldgs.Where on HSQ is their current site?

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Cirocz]

Where on HSQ is their current site?

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

It's in the south-east corner, pretty regular looking building.

Here's a link to google street-view with a view of the current building.

http://maps.google.com.au/?ie=UTF8&t=h& ... 02414&z=19

Great if this goes ahead as it will bring new development and decent height to all four corners of the square.

[UrbanSG]

This sounds interesting but I don't see how in the hell a lot of other already approved office towers are going to get built at this rate. Considering the SA police may be looking at other 'concept towers' and not approved towers.

Hopefully this will be a decent design and not too low rise (campus style). We are going to be waiting a long time until this one actually starts construction. The application hasn't even been lodged as yet and the planning process will take around a half a year if they are lucky.

[cruel_world00]

Brecknock probably looks to across from their office and sees all these lovely new buildings yet they are stuck in that horrid thing. That should be the next to go.