Westpac Banking Group Net Worth is$67.5 B
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Westpac (a portmanteau of "Western-Pacific", registered as Westpac Banking Corporation), is a multinational financial services, one of the Australian "big four" banks and the second-largest bank in New Zealand.
As of November 2011, Westpac has 12.2 million customers, Australia's largest branch network with almost 1200 branches and a network with more than 2900 ATMs. The bank is Australia's second-largest provider of home lending and Australia's second-largest provider of wealth platforms by funds under administration. The bank is Australia's second-largest business banking lender and Australia's second-largest bank by assets.
Westpac's core business consists of nine business units (five customer facing) through which it serves around 8.2 million customers. These business areas are:
This includes deposit taking, transaction accounts, credit cards, mortgages, and other lending. Westpac is a major home loan provider and also serves the financial needs of business customers with a turnover of up to $20 million. Investment, superannuation and general and life insurance products are also sold through the branch network. In the past, RBB operated as Consumer Financial Services. The name was changed when all retail products were combined into the one division.
The Institutional Bank, which contributed 26% of Westpac's total earnings in 2010, provides advisory and wholesale banking services to Westpac's corporate and institutional customers.[citation needed] Customers include governments, property, financial institutions, and medium to large corporates. In the Australian market, WIB holds a prominent position in providing banking services amongst the big four Australian banks and global investment banks, with an increasing presence in the Asia/Pacific region. Business units within WIB include Corporate and Institutional Banking, Global Transactional Services, Capital and Loan Markets, Financial Markets, Equities, Funds Management, International Operations, WIB Fi

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Westpac Banking Group Latest News

Westpac GM departs to Citi

... information officer of retail banking at Lloyds Banking Group, where she led the retail technology integration of over 31 million customer accounts during the Lloyds Halifax merger. At Westpac, her leadership in the transformation of application ...
Posted: December 7, 2017, 5:42 pm

Westpac cuts fixed rates for new customers

Westpac-owned St George, Bank of Melbourne and BankSA have cut rates on two-year fixed loans for investors paying only interest by 0.4 percentage points, to 4.09 per cent. Three-year rates for the same group of customers have been cut by 0.3 percentage ...
Posted: December 4, 2017, 6:52 pm

Westpac chairman apologises for culture of bad language on trading room floor

It was “regrettable” that the bank had tolerated such a culture, he said, speaking at the group’s annual ... said that while Westpac believed the royal commission was unnecessary, it should end the politicisation of the banking industry.
Posted: December 8, 2017, 2:00 am
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