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Westpac

Australian multinational bank

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Westpac Banking Corporation, known simply as Westpac, is an Australian bank and financial services provider headquartered in Sydney, Australia. Established in 1817 as the Bank of New South Wales, it acquired the Commercial Bank of Australia in 1982 before being renamed shortly afterwards. It is one of Australia's "big four" banks and is Australia's first and oldest banking institution. Its name is a portmanteau of "Western" and "Pacific".

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Westpac pledges to end support for coal by 2030

Westpac will end its financing for thermal coal by 2030, leaving ANZ as the only major bank not to set an exit date for its support of the industry.
SBS - Published

King takes up new banking crown

The money laundering scandal engulfing Westpac yesterday claimed what it was always bound to — the scalps of chief executive Brian Hartzer and chairman Lindsay Maxsted.
The Age - Published

Westpac CEO Brian Hartzer to get $2.7m payout after resignation

Westpac chief executive Brian Hartzer will step down on December 2, while chairman Lindsay Maxsted is bringing forward his retirement to the first half of 2020.
SBS - Published

Westpac CEO Brian Hartzer resigns after money-laundering scandal

Westpac chief executive Brian Hartzer will step down on 2 December, while chairman Lindsay Maxsted is bringing forward his retirement to the first half of 2020.
SBS - Published

Westpac slashes executives' bonuses after money laundering scandal

Treasurer Josh Frydenberg has repeatedly declined to say whether the board of Westpac should be sacked following money-laundering accusations.
SBS - Published

A Westpac customer for 36 years, I might put my money in socks

The shocking revelations about the bank's failures to protect against money laundering - even a child sex trafficker - has led me to ask: can I bank ethically?
The Age - Published

Maxsted out his credit as shareholders set to turn on Westpac chief

Westpac chairman Lindsay Maxsted has plenty of grumpy stakeholders to manage after the bank was accused on Wednesday of breaching Australia’s anti-money laundering laws no less than 23 million times.
The Age - Published

Watchdog accuses Westpac of failing to act on child exploitation risks

Westpac has been accused of failing to carry out due diligence on transactions relating to potential child exploitation in South East Asia.
SBS - Published

Watchdog targets Westpac over 'deficient' anti-money laundering oversight

Westpac is being pursued by the financial crime watchdog for apparent breaches of money laundering laws.
SBS - Published

A 0.75% interest rate: will young Australians lose out again?

Please Explain speaks to Westpac's Bill Evans, one of the few who has correctly predicted rate cuts over the past decade.
The Age - Published

More clarity is needed on bank lending rules

The Australian Securities and Investment Commission should not be criticised for mounting a case against Westpac’s assessment of home loans.
The Age - Published

Westpac, ANZ let customers down: Treasurer

Treasurer Josh Frydenberg has ruled out boosting government spending although it's expected data to be released on Wednesday will show soft economic growth.
SBS - Published