In Australia, there are four biggest banks such as Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Westpac Banking Corporation (Westpac), and Australia and New Zealand Banking Group (ANZ) which hold more than eighty percent of loans. Westpac, the oldest bank among the big four banks in Australia, currently faces the regulatory capital requirements by reserve bank of Australia, competitive environment and raised criticism of how clients have been treated. In order to response with these changes, the Westpac’s management concentrates on productivity, building trust, efficiency of capital, leadership strategy, customer satisfaction, wealth controlling system, and refinement of business models that can provide a competitive advantage in the long term.
Westpac, which has been the oldest bank among big four Australia banks, was established in 1817 under the name “Bank of New South Wales”. In 1821, the enormous cash was stolen and did not get back. The scope is increased quickly in
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So people can trust to invest and use the financial service to facilitate their need as they wish to. There are five main divisions to achieve the goal. First of all, consumer bank provides banking products and services to help clients. Secondly, the business bank provides banking products and services from small to medium business’s entities and consults the finance services and transactions. Thirdly, BT financial group generates, provides, and produces the services and products to assist consumers in order to reach their desires. Those products and services comprise insurance, superannuation, investment, and retirement. Fourthly, Westpac institutional bank gives a wide range of services such as banking transactions, lending, broking, investing and so on. Last but not least, Westpac New Zealand gives a full types of bank’s services and products from small to medium entities. (Westpac,