Westpac Banking Corp - Company Profile

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Westpac Banking Corp: Segment Analysis

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Business Description

Westpac Banking Corp (Westpac) is a provider of retail and commercial banking, and related financial solutions to individual, corporate, and SME clients. As of September 30, 2023, it reported assets of AUD 1,029,774 million, loans of AUD773,254 million, and deposits and other borrowings of AUD688,168 million.

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Business Segments

Overview

Provides banking solutions such as trade finance, equipment finance, property finance, corporate superannuation, mortgages, and other solutions through Westpac, BankSA, St.George, and Bank of Melbourne brands. Serves SMEs and commercial business clients in Australia with facilities of a maximum of AUD200 million. Also offers private wealth management solutions to high-net-worth individuals.

Performance

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Overview

Comprises retail banking and other related solutions including mortgages, credit cards, personal loans, and savings and deposit products in Australia. Serves retail clients through St. George, BankSA, Westpac, Bank of Melbourne, and RAMS brands.

Performance

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Overview

Includes treasury, enterprise services, corporate services, and customer services and technology services.

Performance

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Overview

Comprises investments (margin lending and equities broking), and superannuation business and retirement operated under Westpac, BankSA, St.George, BT, and Bank of Melbourne brands. Also includes the business of Westpac Pacific, which provides banking services in Papua New Guinea and Fiji.

Performance

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Overview

Offers transactional banking, financial and debt capital markets, alternative investment, specialized capital, and other banking solutions. Serves corporate, government, commercial, and institutional clients in New Zealand and Australia. Operates through subsidiaries and branches located in New Zealand, New York, London, and Singapore.

Performance

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Overview

Offers banking, wealth management, and insurance products and services to New Zealand consumers, businesses, and institutions. Westpac operates through two subsidiaries: Westpac New Zealand Limited, which is based in New Zealand, and Westpac Banking Corporation (New Zealand Branch), which is based in Australia. Westpac New Zealand operates a branch and ATM network throughout the North and South Islands. Relationship and specialist product teams also serve business and institutional customers. Westpac New Zealand focuses on its own infrastructure, which includes technology, operations, and treasury.

Performance

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Geographical Segments

Performance

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Performance

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Target Markets

The Americas, Asia, Pacific Islands, and Europe.

Performance

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