BENEFICIAL Finance Corporation Limited

BENEFICIAL Finance Corporation Limited
 
SECURITY TYPE: Ordinary Shares
YEAR: 1981
INITIAL PRICE: $0.50
NUMBER OF SHARES: 100
COLOUR: Gray
AGE: 44
SIGNATURE: 
CERTIFICATE OWNER: Miss Inese DZENIS
PRINTER: Own Share Register SA
CONDITION: Very Fine
 
HISTORY
Beneficial Finance Corporation Limited was an Australian finance and lending company incorporated in 1960 that later became a major subsidiary of South Australia’s state banking system. It was listed on the Adelaide Stock Exchange until being acquired by the Savings Bank of South Australia in 1984, then became wholly owned by the new State Bank of South Australia on 1 July 1984. In the late 1980s it expanded from traditional finance into much riskier corporate and property lending, and its heavy losses became one of the main causes of the State Bank collapse, making Beneficial one of the most significant names in South Australian financial history.