United States

Profile: Westpac Banking Corp (WBK)

WBK on New York Consolidated

18 Jan 2019
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Westpac Banking Corporation, incorporated on August 23, 2002, is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services. The Company's segments include Consumer Bank, Business Bank, BT Financial Group (BTFG), Westpac Institutional Bank (WIB) and Westpac New Zealand. The Company has branches throughout Australia, New Zealand, Asia and in the Pacific region.

Consumer Bank

The Consumer Bank division is responsible for sales and service to consumer customers in Australia under the Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands. Its activities are conducted through consumer relationship manager along with a network of branches, call centers and Automated Teller Machine (ATMs). Its customers are also supported by a range of Internet and mobile banking solutions. The Consumer Bank division also works in an integrated way with BTFG and WIB in the sales and service of select financial services and products including in wealth and foreign exchange.

Business Bank

The Business Bank division is responsible for sales and service to micro, small and medium enterprises (SME) and commercial business customers. The Business Bank division operates under the Westpac, St.George, BankSA and Bank of Melbourne brands. Its customers are provided with a range of banking and financial products and services to support their lending, payments and transaction needs. In addition, specialist services are provided for cash flow finance, trade finance, automotive and equipment finance, property finance and treasury services. The Business Bank division is also responsible for certain consumer customers with auto finance loans. The Business Bank division works in an integrated way with BTFG and WIB in the sales and service of select financial services and products, including corporate superannuation, foreign exchange and interest rate hedging.

BT Financial Group

The BT Financial Group division is Company's wealth management and insurance arm of the Westpac Group providing a range of associated services. BTFG's funds management operations include the manufacturing and distribution of investment, superannuation, retirement products, wealth administration platforms, private banking, margin lending and equities broking. BTFG's insurance business covers the manufacturing and distribution of life, general and lenders mortgage insurance. The BT Financial Group division also uses third parties for the manufacture of certain general insurance products, as well as actively reinsuring its risk using external providers across all insurance classes. BTFG operates a range of wealth, funds management, including Ascalon, which is a boutique incubator of emerging fund managers and financial advice brands and operates under the banking brands of Westpac, St.George, Bank of Melbourne and BankSA for Private Wealth and Insurance.

Westpac Institutional Bank

The Westpac Institutional Bank division delivers a range of financial products and services to commercial, corporate, institutional and government customers with connections to Australia and New Zealand. WIB operates through industry relationship and product teams in transactional banking, financial and debt capital markets, specialized capital and alternative investment solutions. Its customers are supported throughout Australia, as well as branches and subsidiaries located in New Zealand, the United States, the United Kingdom and Asia. WIB is also responsible for Westpac Pacific providing a range of banking services in Fiji and Papua New Guinea (PNG). WIB works in an integrated way with all the Company's divisions in the provision of more complex financial needs, including across foreign exchange and fixed interest solutions.

Westpac New Zealand

The Westpac New Zealand division operates through a network of branches and ATMs across both the North and South Islands. Its business and institutional customers are also served through relationship and specialist product teams. Its banking products are provided under the Westpac brand, while insurance and wealth products are provided under Westpac Life and BT brands, respectively.

Company Address

Westpac Banking Corp

L 18 275 Kent Street
SYDNEY   NSW   2000
P: +612.91557700
F: +612.82534128

Company Web Links