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 made blind pensioner a guarantor without risk advice, inquiry hears

Westpac’s head of commercial banking ... In other submissions to the inquiry by the banks, Australia and New Zealand Banking Group said it was aware that 47 fraudulent business loans had been extended last year, said Michael Hodge, senior counsel ...
Posted: May 21, 2018, 1:54 am

Westpac tasks senior executive Carolyn McCann with leading customer focus

“Appointing a Group Executive to oversee our customer ... The royal commission into banking and financial services has turned the spotlight onto Westpac several times during the two months of hearings so far. Westpac was the “most resistant” of ...
Posted: May 17, 2018, 6:12 pm

Australia banking inquiry resumes amid deluge of misconduct submissions

The country's four largest banks - Commonwealth Bank of Australia , Westpac, National Australia Bank and Australia and New Zealand Banking Group - dominate the mortgage and business lending market, while also holding the lion's ...
Posted: May 20, 2018, 8:31 pm
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