Westpac Banking Corporation
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Anthony Miller
- Full Time Employees
- 35,236
- Sector
- Finance
- Industry
- Major banks
- Address
- Westpac Place Sydney NSW Australia 2000
- IPO Date
- Jul 18, 1970
- Website
- westpac.com.au
- Similar Companies
- Business
- Westpac Banking Corporation (WBC.AX) operates as one of Australia's Big Four banks and a leading financial services provider, offering consumer, business, institutional banking, and wealth management services through brands including Westpac, St.George, Bank of Melbourne, BankSA, BT, and RAMS. The company delivers core products and services such as transaction and savings accounts, home loans, personal loans, credit cards, term deposits, business lending including cash flow finance, trade finance, equipment finance, property finance, and transaction banking; wealth management encompassing investment platforms like Panorama, BT Wrap, and Asgard, superannuation, life and general insurance, and lenders mortgage insurance; institutional services covering debt capital markets, margin lending, broking, and alternative investments; as well as digital banking via mobile apps, internet platforms, EFTPOS, and ATMs. Westpac serves over 13 million customers primarily in Australia and New Zealand, with institutional operations extending to the US, UK, and Asia, and maintains a nationwide network of branches, call centers, and third-party distributors. Founded in 1817 as the Bank of New South Wales and renamed Westpac Banking Corporation in 1982 following its merger with the Commercial Bank of Australia, the company is headquartered at Westpac Place in Sydney. Recent developments include selling its RAMS home loan portfolio to Pepper Money in partnership with KKR in November 2025; advancing a multi-billion-dollar technology overhaul with planned investments of AUD 1.8-2 billion through 2028 in digital transformation, including partnerships with AWS, Microsoft, Accenture, and fintechs like Akahu, Cogo, and FrankieOne; launching EFTPOS Air for small business mobile payments in 2023; CEO transition to Anthony Miller in December 2024 succeeding Peter King; ongoing branch rationalization closing over 400 locations since 2015 while expanding co-located branches; and focusing strategic priorities on core Australian and New Zealand banking after exiting non-core wealth, insurance, and auto finance businesses in 2020-2021.
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