|Westpac headquarters in Sydney|
Westpac Banking Corporation (ASX: WBK, NZX: WBC) is one of the largest banks in Australia and New Zealand. It provides a full range of financial services to personal, business, corporate and institutional customers. It offers bank accounts, home loans, credit cards, personal and business loans, life and general insurance, superannuation, financial planning, online banking, share trading, merchant services, equipment finance as well transactional banking, foreign exchange, international trade and other services. Westpac operates through 5 key divisions: Consumer Bank, Commercial and Business Bank, BT Financial Group, Westpac Institutional Bank and Westpac New Zealand. Other divisions include: Westpac Pacific, Group Services, Group Treasury and Core Support. BT Financial Group (BTFG) is the wealth management division of the Westpac Group and includes the wealth division of St.George Bank. BTFG also includes operations under the Asgard, Advance, Licensee Select, Magnitude, BankSA and Securitor brands. Westpac Group operates a network of branches and entities throughout Australia, New Zealand and the near Pacific region and maintains offices in key financial centres around the globe including London, New York, Hong Kong and Singapore. The company serves approximately 13.1 million customers through 1,429 branches and 3,850 ATMs (September 2015). Westpac was established in 1817 as the Bank of New South Wales and was the first bank founded in Australia. In 1982, it merged with the Commercial Bank of Australia and changed its name to Westpac Banking Corporation. In 2002, the Bank began to expand its wealth management business with the acquisition of Rothschild Australia Asset Management, Parts of BT Financial Group and Hastings Funds Management Ltd. In 2008, Westpac merged with St. George Bank. In 2015, Westpac sold its banking operations in Samoa, Cook Islands and Tonga to the Bank of South Pacific Ltd. As of September 30, 2015, the company had total assets of A$812.156 billion, loans of A$623.316 billion, deposits of A$475.328 billion and employed over 32,600 people.
Westpac Group brands: St.George Bank, Bank of Melbourne, RAMS Financial Group, BankSA.
Westpac Credit Ratings
|November 2015||Short term||Long term||Outlook|
|Moody's Investors Service||P-1||Aa2||Stable|
|Standard & Poor's||A-1+||AA-||Stable|
|Head office address:
Level 20 275 Kent Street
Sydney, NSW 2000
|Adelaide Office Branch
1 King William St
Adelaide SA 5000
Phone: (08) 8112-7722
Business hours: Mon - Th, 9:30am - 4:00pm, Fr 9:30am - 5:00pm