Westpac Banking Corporation

Westpac Banking Corporation
Westpac headquarters in Sydney

Westpac Bank

Westpac Banking Corporation (Westpac) (ASX: WBK, NZX: WBC) is one of the largest banks in Australia by market capitalization and the second-largest bank in New Zealand. The Bank 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. With about 39,000 employees, Westpac serves approximately 12 million customers through more than 1,200 branches (Australia's largest branch network).  As of September 30, 2011, Westpac had total assets of US$714.34 billion and market capitalization of US$65.8 billion (1/2012). Westpac was established in 1817 as the Bank of New South Wales and was the first bank founded in Australia. In 1982, with the merger of the Commercial Bank of Australia, it changed its name to Westpac Banking Corporation. In August 2002, Westpac was registered as a public company under the Australian Corporations Act . In 2008, Westpac merged with St.George Bank.

Key people:
Gail Patricia Kelly (CEO & MD), Age: 55
Total Annual Compensation: A$9,587,000
Ted Evans (Chairman), Age: 69
Total Annual Compensation: A$736,409

 Westpac Group has 5 key divisions:
• Westpac Retail and Business Banking
• St.George Bank – It includes the management and operation of BankSA
• BT Financial Group Australia – a Westpac’s wealth management business.
• Westpac Institutional Bank
• New Zealand Banking  – It serves over 1.2 million customers and operates under the ‘Westpac New Zealand’, ‘Westpac Life New Zealand’ and ‘BT New Zealand’ brands.

 Credit Ratings

Short term Long term Outlook
Fitch Ratings F1+ AA Stable
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
Australia
Phone: +61-2-9293-9270
Fax: +61-2-8253-4128
Adelaide Office Branch
1 King William St
Adelaide SA 5000
BSB 035-000
Phone: (08) 8112-7722
Business hours: Mon - Th, 9:30am - 4:00pm, Friday, 9:30am - 5:00pm

Westpac International branches

August 17, 2011
Westpac Online Investing Wins Best Fully Featured Online Broker

June 1, 2011
Westpac named Money Magazine's Business Bank of the Year

May 31, 2011
Westpac receives final approval for Beijing branch

February 1, 2011
Westpac named one of world’s most sustainable companies