Australian and European Bank Limited - Banknotes
The Australian and European Bank Limited was established in Melbourne in 1874. The institution was popular with the Wesleyans and expanded rapidly into Melbourne's suburbs.
The company was one of the first banks to be adversely affected by the financial crisis of the late 19th century, mainly due to the decline of its close associate, the Provincial and Suburban Bank Limited. A run on the bank led to payments being suspended, and resulted in its closure in 1879. Ten of its branches were absorbed by the Commercial Bank of Australia Limited when that bank purchased the business, now a part of the Westpac Banking Group Limited.
Apart from the name, the banknote issues were identical in design to those of the Federal Bank of Australia Limited.
