Westpac Banking Corporation WBC.ASX

Westpac Banking Corporation was established in 1817 as the Bank of New South Wales. It is one of the four largest banking organisations in Australia and New Zealand and also operates in New Guinea and Fiji. It was rebranded in 1982 after acquiring the Commercial Bank of Australia. Based in Sydney, it incorporates the former Rothschild Australia Asset Management and Hastings Funds Management Limited. Westpac was Australia’s first-ever bank and its oldest company.

The Westbac group is divided into six different sections: consumer, business, Wesbac Institutional Bank, Westpac New Zealand, group businesses and specialist businesses. As of March 2022, the company employs approximately 40,143 members of staff throughout its operations.

The Westpac Banking Corporation includes an extensive range of subsidiary firms. It operates the Bank of Melbourne, St. George, RAMS, BankSA and BT. As of March 2022, it was serving more than 13.9m customers. Its specialities include trade finance, property finance and automotive and equipment finance for businesses. The principal listing of Westpac stock is on the Australian Securities Exchange (ASX) and trade under ticker ASX: WBC. Westpac ordinary shares are also listed on the New Zealand Stock Exchange (NZX).

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