[4] It described itself as having been established on the "Scottish principle", with limited liability for shareholders related to having been incorporated by Parliament.
[5] The bank's first headquarters were located in the former Imperial Hotel on the corner of Elizabeth and Little Collins streets, Melbourne.
It was replaced with a grand new headquarters on the same site in 1880–82 to a design of the architectural firm Smith and Johnson, the new building opening in April 1882.
[11] It was amalgamated into the National Bank of Australasia in 1918, taking effect from October that year.
The building's ornate doorway was saved during demolition after calls from the Royal Victorian Institute of Architects, dismantled and relocated to the University of Melbourne, first as the entry to their School of Physiology and then in 1973 as an entrance to a car park.