Westpac Banking Cp Ord (WEBNF)

Westpac Banking Corp was incorporated as the Bank of New South Wales in Australia on September 23, 1850. In 1982 it changed name to Westpac Banking Corporation following its merger with the Commercial Bank of Australia. The Company is engaged in providing banking and financial services in markets including consumer, business and institutional banking and wealth management services. The Company operates in segments including Australian Financial Services (AFS) is responsible for the Company Australian retail banking, business banking and wealth operations. It includes operations of Westpac Retail & Business Banking responsible for sales and service for consumer, small-to-medium enterprise (SME), commercial and agribusiness customers in Australia under the Westpac brand; St.George Banking Group responsible for sales and service to consumer, SME and corporate customers in Australia under the St.George, BankSA, Bank of Melbourne and RAMS2 brands; and BT Financial Group (Australia) includes operations of funds management and insurance solutions, its brands include Advance Asset Management, Ascalon, Asgard, BT, BT Investment Management (BTIM)3, Licensee Select, BT Select, Securitor, and the advice, private banking and insurance operations of Bank of Melbourne, BankSA, St.George and Westpac. It also includes the product, marketing and risk management responsibilities for Australian retail banking and wealth. Westpac Institutional Bank segment delivers financial services to commercial, corporate, institutional and government customers with connections to Australia and New Zealand. Westpac New Zealand is responsible for sales and service of banking, wealth and insurance products for consumers, business and institutional customers in New Zealand. Banking products are provided under the Westpac and WIB brands while insurance and wealth products are provided under Westpac Life and BT brands. The Company's other division includes Pacific Banking, Group Services, Treasury and Core support. The Company faces competition both domestically and internationally with retail and commercial banks, asset managers, investment banking firms, brokerage firms, other financial service firms and businesses.