Westpac Banking Corporation

Westpac Banking Corporation (ASX: WBC, 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, Business & Wealth, Westpac Institutional Bank, Westpac New Zealand and Group Businesses. Business & Wealth took in the private wealth, BT platform and Westpac Pacific operations, the last of which covers Fiji and Papua New Guinea. BT Financial Group (BTFG) was formerly the wealth management division of the Westpac Group and included the wealth division of St.George Bank together with operations under the Asgard, Advance, Licensee Select, Magnitude, BankSA and Securitor brands; after Westpac withdrew from most of wealth management, BT Financial Group remained within Business & Wealth as the provider of wealth management platform services. 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 million customers in its core markets of Australia and New Zealand through 749 branches in Australia, New Zealand and the Pacific, of which 621 are in Australia (September 2025). The Australian Prudential Regulation Authority recorded 778 Westpac-operated ATMs in Australia at June 30, 2025, against 2,933 at June 30, 2017. 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. Westpac has since withdrawn from insurance underwriting and from most of wealth management: the general insurance business was sold to Allianz on July 1, 2021, the lenders mortgage insurance business to Arch Capital on August 31, 2021, the New Zealand life insurance business to Fidelity Life on February 28, 2022, and the Australian life insurance business to TAL on August 1, 2022 under a 20-year exclusive strategic alliance. On April 3, 2023 Westpac announced the completion of the merger of BT's personal and corporate superannuation funds into the Mercer Super Trust and the sale of Advance Asset Management to Mercer Australia. RAMS Financial Group closed to new home loan applications on August 6, 2024, and the sale of Westpac's auto finance loan portfolio to Resimac was completed on March 1, 2025. On October 24, 2025 the Federal Court imposed a A$20 million penalty on RAMS Financial Group over its oversight of franchisees and their authorised credit representatives between June 2019 and April 2023. As of September 30, 2025, the company had total assets of A$1,125.356 billion, loans of A$851.853 billion, deposits and other borrowings of A$770.457 billion and employed 35,236 people on a full-time equivalent basis. Net profit attributable to owners of Westpac Banking Corporation for the year ended September 30, 2025 was A$6.916 billion.

Westpac Group brands: Westpac, St.George, Bank of Melbourne, BankSA, BT.

Westpac Credit Ratings

Westpac International branches