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Australia became an independent nation on 1 January 1901 when the British Parliament passed legislation allowing the six Australian colonies to govern in their own right as part of the Commonwealth of Australia.
1 In what was then the largest merger in Australian banking history, ANZ merged with the English, Scottish and Australian Bank Limited to form the present organisation, Australia and New Zealand Banking Group Limited.2  Starts operations in Vanuatu.n 2007 the title was shared with another Australian bank, Westpac, which had held the title for the previous five years. ANZ was established on 1 October 1951, when the Bank of Australasia merged with the Union Bank of Australia Limited.