Westpac

from Wikipedia, the free encyclopedia
  Westpac Banking Corporation
logo
Country AustraliaAustralia Australia
Seat Sydney AustraliaAustraliaAustralia 
legal form Corporation
ISIN AU000000WBC1
BIC WPACAU2FXXX
founding 1817
Website www.westpac.com.au
Business data 2009
Employee 37.032
management
Board Lindsay Maxsted (Chairman)
Corporate management

Peter King

The Westpac Banking Corporation is an Australian bank with headquarters in Sydney . The company is listed on the All Ordinaries on the Australian Securities Exchange and the NZX 50 Index on the New Zealand Exchange .

In addition to Australia, Westpac operates in New Zealand , Fiji , Papua New Guinea , Samoa , the Solomon Islands , Tonga , Vanuatu , Singapore , China , Malaysia , Taiwan and Indonesia .

Westpac is the third largest bank in Australia and the 50th largest bank in the world in terms of assets under management (as of 2018). In March 2018 Westpac had 14 million customers and almost 40,000 employees.

history

Westpac Sydney

The Bank of New South Wales (BNSW) was established in Sydney as the first bank in Australia in 1817.In the 19th and early 20th centuries, the bank opened offices across Australia and Oceania in 1850, in Moreton Bay (Brisbane), then in Victoria (1851 ), New Zealand (1861), South Australia (1877), Western Australia (1883), Fiji (1901), Papua New Guinea (1910) and Tasmania (1910).

  • 1927: BNSW acquires the Western Australian Bank .
  • 1931: BNSW acquires the Australian Bank of Commerce , which had branches in both New South Wales and Queensland .
  • 1942: BNSW ceases operations in Papua New Guinea when the Japanese Army captured many of the cities where it had branches and agencies and bombed Port Moresby. It resumed operations in 1946.
  • 1970: BNSW establishes a branch on Tarawa in Kiribati (formerly Gilbert Islands), which also takes over the state savings bank.
  • 1971: Establishment of a branch in the New Hebrides .
  • 1974: The Bank of New Zealand (20%), BNSW (20%), the Bank of Hawaii (20%) and the Government of Tonga (40%) set up the Bank of Tonga as a joint venture .
  • 1977: BNSW founds the Pacific Commercial Bank in Samoa as a joint venture with the Bank of Hawaii and takes over the Pacific Savings and Loan Company .

Renaming to Westpac

  • 1982: BNSW merged with Commercial Bank of Australia and changed its name to Westpac Banking Corporation (WBC). The brand name also contained the "W", which was the logo of the Bank of New South Wales (popularly known as "Wales").
  • 1988: WBC acquires the European Pacific Banking Corporation in Cook Islands and an HSBC subsidiary, the Solomon Islands Banking Corporation .
  • 1990: The Bank of New Zealand sold half of its stake in the Bank of Tonga to WBC and the other half to the Bank of Hawaii, giving each bank a 30% stake in the bank.
  • 1995: Acquisition of Challenge Bank Limited , Western Australia
  • 1996: BNSW buys Trust Bank New Zealand
  • 1997: Acquisition of the Bank of Melbourne .
  • 2002: Acquisition of Rothschild Australia Asset Management and parts of the BT Financial Group
  • 2008: Merger with St. George Bank . The name Westpac was retained. As of March 1, 2010, St. George Bank became an operational division within the Westpac Group.

See also

Web links

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ Annual report as of September 30, 2009 (English; PDF; 4.8 MB)
  3. ^ Banks in Australia. www.relbanks.com, accessed December 27, 2018 .
  4. ↑ Top 100 Banks in the World. relbanks.com, accessed December 27, 2018 .
  5. ↑ about-westpac. www.westpac.com.au, accessed December 27, 2018 .