Yes, Bankwest is the modern, shortened brand name and corporate evolution of what was originally established as the Bank of Western Australia. Founded originally under historical state government ownership to serve the local economic development and banking needs of Western Australians, the institution underwent privatization before eventually being acquired entirely by the Commonwealth Bank of Australia group. While it expanded nationally in past decades before scaling back to focus on its core digital offerings, its historical corporate lineage traces directly back to the original regional state bank of Western Australia.