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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. 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. The listed name for WBK is Westpac Banking Corporation.
Peter Francis King
Sydney, New South Wales (NSW)
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UPDATE 1-Westpac signs enforceable undertaking with regulator due to weak risk controls
(Adds analyst comment, background) SYDNEY/BENGALURU, Dec 3 (Reuters) - Westpac Banking Corp agreed to a court-backed undertaking with Australia’s banking regul
Australia's Westpac sells general insurance arm to Allianz for $535 million
Slideshow ( 2 images ) (Reuters) - Westpac Banking Corp said on Wednesday it would sell its general insurance arm to German insurer Allianz for A$725 million (