Westpac Bank
 |
|
| Public | |
| Traded as |
ASX: WBC NZX: WBC : WBK |
| Industry | Banking, financial services |
| Predecessor | Bank of NSW (est. 1817); Commercial Bank of Australia |
| Founded |
1817 (as Bank of New South Wales) 1982 (as Westpac Banking Corpoation) |
| Headquarters | Westpac Place, Sydney, Australia |
|
Number of locations
|
1,429 branches 3,850 ATMs |
|
Area served
|
Worldwide |
|
Key people
|
Brian Hartzer (CEO and managing director) Lindsay Maxsted (Chairman) |
| Products | Finance and insurance, consumer banking, corporate banking, investment banking, investment management, global wealth management, private equity, mortgages, credit cards |
| Revenue |  A$ 21.642 billion (2015) |
| A$ 8.012 billion (2015) |
|
| Total assets | A$ 812.156 billion (2015) |
|
Number of employees
|
32,620 (2015) |
| Website |
www.Westpac.com.au www.Westpac.co.nz |
1817 (as Bank of New South Wales)
Westpac Banking Corporation, more commonly known as Westpac, is an Australian bank and financial-services provider headquartered in Westpac Place, Sydney. It is one of Australia's "big four" banks. Its name is a portmanteau of "Western-Pacific".
As of November 2015, Westpac has 13.1 million customers, and is Australia's largest branch network, with 1429 branches and a network of 3850 ATMs. The bank is Australia's second-largest bank by assets. It is also the second-largest bank in New Zealand.
On 29 January 2015, Bank South Pacific announced that it had entered into an agreement to acquire Westpac's banking operations in Samoa, Cook Islands, Solomon Islands, Vanuatu and Tonga for A$125 million.
Established in Sydney in 1817, the Bank of New South Wales (BNSW) was the first bank in Australia. Edward Smith Hall was its first cashier and secretary. During the 19th and early 20th century, the Bank opened branches first throughout Australia and Oceania, at Moreton Bay (Brisbane) in 1850, then in Victoria (1851), New Zealand (1861), South Australia (1877), Western Australia (1883), Fiji (1901), Papua New Guinea (1910) and Tasmania (1910).
The structure involves five key divisions including: Consumer Bank, Commercial and Business Bank, BT Financial Group, Westpac Institutional Bank and Westpac New Zealand. These five divisions serve more than 13 million customers.
Consumer Bank is responsible for sales and service of its 9 million consumer customers in Australia, assisting them with their everyday banking needs. The division covers all consumer banking products and services under the Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands.
Activities are conducted through the Consumer Bank’s nationwide network of 1,429 branches, third-party distributors, call centres, 3,850 ATMs, EFTPOS terminals and internet banking services.
The Business Bank is responsible for sales and service of its small-to-medium enterprise, commercial and agribusiness customers in Australia, as well as asset and equipment finance and operates under the Westpac, St.George, BankSA and Bank of Melbourne brands.
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Wikipedia