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Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer Bank, Business Bank, BT Financial Group (Australia), Westpac Institutional Bank, Westpac New Zealand and Group Businesses. Read More The Consumer Bank segment covers consumer banking products and services under the Westpac, St. George, BankSA, Bank of Melbourne and RAMS brands. The Business Bank segment involves in sales and customer service of small-to-medium enterprise, commercial and agribusiness customers under the Westpac, St.George, Bank of Melbourne and BankSA brands. The BT Financial Group (Australia) segment manages wealth and insurance division. The Westpac Institutional Bank segment delivers a range of financial services to commercial, corporate, institutional, and government customers. The Westpac New Zealand segment comprises sales and service of banking, wealth, and insurance products for consumer, business, and institutional customers. The Group Businesses segment treasury which is responsible for the management of the Group's balance sheet, group technology which includes functions for the Australian businesses, and core support which covers functions performed centrally, including Australian banking operations, property services, strategy, finance, risk, compliance, legal, human resources, and customer and corporate relations. The company was founded in 1817 and is headquartered in Sydney, Australia.
Sydney, New South Wales (NSW)
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As Australian banks' funding pressures ease, will rate cuts follow?
SYDNEY (Reuters) - A fall in funding costs for Australia’s biggest banks is raising the prospect that they could hand on the savings to consumers in the form of lower lending rates, which would in turn reduce pressure on the central bank to ease policy.
Australia shares weaker on financials, healthcare weakness; NZ down
* Westpac slips, says will exit finance advice business * Mining stocks rise as iron ore prices firm (Updates to close) By Rashmi Ashok March 19 (Reuters) - Australian shares edged lower on Tuesday, led down by financial and healthcare stocks although trading was limited as global investors remained cautious ahead of the Federal Reserve’s policy meeting. The S&P/ASX 200 index fell 5.7 points or 0.1 percent to 6,184.8 at the close of trade. The benchmark rose 0.3 percent on Monday. Financial stocks fell...