Westpac Banking Corporation - Profile Company Report Australia

30-09-2012, 18 pages

Westpac Banking Corporation is an Australian public company that obtains its revenue from the provision of financial services including lending, deposit taking, payment services, investment portfolio management, insurance services and other general financial services. The company has operations throughout Australia and New Zealand, as well Asia, Europe and the US, and employs over 33,000 employees across its operations.

Westpac is listed on both the Australian and New Zealand Stock Exchanges under the symbol WBC, and on the New York Stock Exchange under the symbol WBK.

The Westpac Group divides its operations into the following five primary operating divisions:

Westpac Retail and Business Banking:

Westpac Retail and Business Banking provides full-service banking products and services to consumer, small and medium enterprise and commercial customers in Australia under the Westpac and RAMS brands. Westpac operates over 850 branches, 60 RAMS franchise outlets, over 1,900 ATMs, call centres, as well as internet banking services. In addition, business customers are also serviced through 71 business banking centres and separate internet and telephone channels. Westpac Retail and Business Banking also handles Westpac's third party retail, broker and other distribution relationships.

Westpac Institutional Bank (WIB):

Westpac Institutional Bank services the financial needs of corporations, institutions, and government customers operating in Australia and New Zealand. The segment provides specialized service and advice in the areas of debt/equity underwriting, financial structuring, foreign exchange markets, trade finance, international payments, international cash management, project finance, property, and mergers and acquisitions. WIB customers are serviced through branches in Australia, New Zealand, London and Asia.

Westpac Institutional Bank brands include: St.George Institutional Bank, Westpac Pacific Banking, Westpac Asia, Hastings Funds Management and Xylo.

Westpac New Zealand:

Westpac New Zealand offers a range of retail banking services, commercial banking products and wealth management services to consumer and business customers. Westpac operates over 200 branches and 500 ATMs. Other Westpac brands include insurance providers Westpac Life New Zealand and BT New Zealand, as well as institutional bankers New Zealand Institutional Bank.

St George Bank:

St George Bank is responsible for private, business and corporate customers under the St George and BankSA brands. St George operates a network of over 420 St George and BankSA branches, 45 business banking centres, 988 ATMs, call centres, internet banking and third party distribution channels. St George's services include for Cash Flow Finance, Trade Finance, Automotive and Equipment Finance, Property Finance, Transaction Banking and Treasury Services.

BT Financial Group:

BT Financial Group is Westpac's wealth management division and also includes St George Bank's wealth management division. BT Financial's operations include investment and superannuation products, private banking, financial planning services as well as life, general, lenders mortgage and bonds insurance.

BT Financial's brands include: Advance Asset Management, Asgard, BT, BT Investment Management, Licensee Select, Magnitude, Securitor, and the wealth operations of BankSA, St.George and Westpac.

IBISWorld Company Profile Reports

Company profile reports provide key information on the Top 2000 earning companies in Australia. Reports include a written description of a company, its history, brands and products, contact details and key personnel, operating and legal structure, financial data, industries of involvement and business service providers.