Westpac Banking (WBC)

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Formerly called the Bank of New South Wales, Westpac Banking Corporation (WBC) is one of the four largest and principal banks in Australia. It provides a variety of financial and banking services including institutional and commercial banking services, wealth management services, and retail services in Australia and New Zealand markets. WBC was listed on the Australian Stock Exchange on the 18th of July 1970. Its average annual revenue reaches approximately $22 billion out of its issued capital of $5 billion. Its headquarters is located in Sydney, Australia. Westpac Banking Corporation operates mainly in five business segments: BT Financial Group segment, Business and Consumer Banking segment, Institutional Bank, New Zealand Retail segment and other segment.

The Financial Group segment is in charge of managing the wealth management business of Westpac Banking Corporation. This segment focuses on the financial products designs and servicing and these products include mutual funds or managed investments, pensions or business superannuation, income protection, life insurance, margin lending, discount securities broking, portfolio management, client portfolio administration platforms, and the administration of corporate superannuation.

The business and consumer banking segment is focused on providing retail banking services to small to medium-sized business customers as well as qualified individuals in Australia. The services this segment provides include checking and savings accounts, credit cards, demand and term deposits, housing loans and residential and personal mortgages.

The Institutional banking segment of Westpac Banking Corporation is engaged in offering financial services and products to institutions, government and corporations. The services this segment provides are interest rate, foreign exchange, commodities and equity derivatives, debt and hybrid securities as well as trade finance.

The New Zealand retail segment is engaged in providing a variety of commercial banking and wealth management services as well as retail banking services.

The other segment of Westpac Banking Corporation includes providing the business technology solutions results, Pacific banking, group treasury and head office functions.

Westpac Banking Corporation (WBC) Company History

Westpac Banking Corporation (WBC) is the first to be established as a financial institution in Australia in 1817. Their first and former name was Bank of New South Wales which was incorporated in 1850. The company then having a partnership in 1982 with Commercial Bank of the Australia had formed the name Westpac Banking Corporation.

Beginning to plan an expansion, Westpac got linked with Challenge Bank located in Western Australia in 1995. A year after, it linked with Trust Bank New Zealand and in 1997, it linked with Bank of Melbourne located in Victoria.

The shares owned by the company from Australian Guarantee Corporation (AGC) was transferred to GE Capital. The company's wealth management capabilities started to develop after producing a link between the Rothschild Australia Asset Management and the BT Funds Management and then merging all of the on hand wealth management business that they own and formed the BT Financial Group company. This is the biggest step for the company's position in the industry of banking from the New Zealand to Australia.

Airport Link Company (ALC) sold a part of shares to the merged companies, the Capital partners and Westpac Essential Services Trust back in March 2007.

Westpac Banking (WBC) Products and Services

  • Financial services including banking
  • Investment portfolio management and advice
  • Unit trust and superannuation fund management
  • Nominee and custodian facilities
  • Insurance services
  • Consumer finance
  • Leasing
  • Factoring
  • General finance
  • Foreign exchange dealing and money market services
  • International payments and cash management
  • Institutional fund management
  • Loan syndication
  • Financial structuring
  • Debt/equity underwriting
  • Commodities and derivatives
  • Loans and credit cards
  • Life insurance
  • Portfolio and wealth management

Westpac Banking Corporation Competitors

  • Australia and New Zealand Banking Group
  • AXA Asia Pacific Holdings Limited
  • Bank of Hawaii Corporation
  • Bendigo Bank Ltd.
  • Macquarie Bank Ltd
  • St. George Bank Limited
  • HSBC Holdings plc
  • Commonwealth Bank of Australia
  • National Australia Bank Group Limited

Westpac Banking (WBC) Locations and Subsidiaries

Westpac Banking Corporation Headquarters
Level 20 275 Kent St
Sydney NSW 2000
Phone: (02) 9293 9270
Fax: (02) 8253 1888

Westpac Banking Corporation
Main Rd Avarua
Rarotonga Cook Islands
Ph: (682) 2 2014 Fax: (682) 2 0802

Westpac Banking Corporation
#19-00 SIA Building
77 Robinson Rd
Singapore 068896
Ph: (65) 30 9898 Fax: (65) 32 6781

Westpac Banking Corporation
16th Flr
Wisma Standard Chartered Ban Jend Sudirman Kav 33-A
Jakarta 10220 Indonesia
Ph: (62 21) 574 3719 Fax: (62 21) 574 3720

Westpac Banking Corporation
Rm 3303-05 Two Exchange Square 8 Connaught Rd
Central Hong Kong
Ph: (852) 2842 9888 Fax: (852) 2840 0591

Westpac Banking Corporation
611F TowerB
Focus Place 19 Financial St
Xicheng District Beijing
Ph: (86 10) 6657 4380 Fax: (86 10) 6657 4381

Westpac Banking Corporation
Westpac Bank-PNG Limited
Lvl 9, Deloitte Tower, Douglas St
Port Moresby Papua New Guinea
Ph: (675) 322 0888 Fax: (675) 322 0633

Westpac Banking Corporation
39th Floor
575 Fifth Ave
New York NY 10017-2422 USA
Ph: (1 212) 551 1800 Fax: (1 212) 551 1999

Westpac Banking Corporation
Level 15, 188 Quay Street
Ph: (64 4) 367 3727 Fax: (64 4) 367 3729

Westpac Banking Corporation
Level 2 63 St
Mary Axe London EC3A 8LE UK
Ph: (44 207) 621 7000 Fax: (44 207) 623 9428

Westpac Banking Corporation
Lini Hwy Port
Vila Vanuatu
Ph: (678) 22084 Fax: (678) 24773

Westpac Banking Corporation
National Provident Fund Building
721 Mendana Ave Honiara
Ph: (677) 2 1222 Fax: (677) 2 3419

Westpac Banking Corporation
Westpac Bank Samoa Limited, Beach Rd
Apia Samoa
Ph: (685) 20000 Fax: (685) 22848

Westpac Banking Corporation
2nd Floor
Westpac House 73 Gordon Street
Ph: (679) 132 032 Fax: (679) 3300 718

Westpac Bank of Tonga
Westpac Bank of Tonga
Tanfaahua Rd
Nuku'alofa Tonga
Ph: (676) 23933 Fax: (676) 23634

Westpac Banking Corporation Subsidiaries

Westpac Overseas Holdings Pty Ltd
RESI-Statewide Corporation Limited
Westpac Institutional Holdings Pty Ltd
BT Life Limited
Sixty Martin Place (Holdings) Pty Ltd
Biralo Pty Ltd
Westpac Bank-PNG-Limited
Carseldine Pty Ltd
Westpac Capital Holdings Inc - USA
52 Collins St. Pty Ltd
Hull 4381 & 4382 Leasing Pty Ltd
Westpac Finance Pty Ltd
The Mortgage Company Pty Ltd
Australian Loan Processing Security Company Pty Ltd
Maracorp Financial Services Pty Ltd
BLE Capital Limited
Westpac Tasman No. 1 Pty Ltd
Bill Acceptance Corporation Limited
Partnership Pacific Limited
Challenge Limited
Westpac Bank of Tonga
Westpac OMG Holdings Pty Ltd
Westpac Properties Limited
Pitco Pty Ltd
RESI-Statewide Mortgage Corporation Limited
Huben Holdings Pty Ltd
Rokelay Wools Pty Ltd
C.B.A. Limited
Westpac Leasing Nominees Vic Pty Ltd
Westpac Leasing Pty Ltd
Westpac Investment Holdings Pty Ltd
Brenmar Holdings Pty Ltd
MFS Services Pty Ltd
RESI-Statewide Nominees Limited
Westpac Structured Products Ltd
Westpac Bank Samoa Limited - SAMW
Halcyon Securities Limited
Westpac Matching Gifts Limited
Westpac Property Investments Pty Ltd
Westpac Equity Holdings Pty Ltd
Westpac Capital Corporation
Westpac Leasing Nominees Pty Ltd
Sallmoor Pty Ltd
Westpac Funding Holdings Pty Ltd

Other Westpac Banking Corporation Details

Westpac Banking Corporation Year Established: 1817
ACN: 007 457 141
D-U-N-S: 751016502
ABN: 33007457141
Previous Company Names:Bank of New South Wales

Westpac Banking (WBC) Share Price

Submitted by Share Trading on 13 June, 2008 - 22:56

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