Concept

Savings Bank of South Australia

Summary
The Savings Bank of South Australia was a bank founded in the colony of South Australia in 1848, based in Adelaide. In the early 20th century it established a presence in schools by setting up a special category of savings accounts for schoolchildren, and grew through the following decades. In 1984 it merged with the State Bank of South Australia, with the merged entity taking the latter name. This entity later became known as BankSA, and is a division and a trading name of St George Bank, which is a subsidiary of Westpac. Foundation and early days The Savings Bank of South Australia opened on 11 March 1848 with a single employee, John Hector, trading from a room in Gawler Place, Adelaide. The room was provided rent-free by the Glen Osmond Mining Company. On that day it took its first deposit, of £29, from an illiterate "Afghan" shepherd whose name was recorded as Croppo Sing (probably "Singh", the Sikh masculine surname). Other deposits soon followed. A month later, the
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