Fourth bank brand remains option for Westpac

Westpac chief executive Gail Kelly confirmed a couple of business initiatives in an interview with The Australian.

In the domestic market, Kelly hinted once again at the prospect of introducing an additional bank brand alongside Westpac, St George, Bank SA and also Rams (for home loans), and BT (for retail superannuation).

Speculation has centred on the revival of the Bank of Melbourne brand, while the newspaper also mentions Challenge Bank.

Westpac has also engaged marketing consultants to evaluate an entirely new bank brand, perhaps along the line of NAB's UBank, though this option may have faded from the mix.

Kelly confirmed the bank plans to open more branches in China, though she did not say how many.

The main theme of the article was a defence of the bank's strategy and was in contrast to the short-term doubters among the ranks of investment analysts.

"We are all about sustainability," she told the newspaper.

"It's not what analysts or others say in a quarter or a half. We are running a business for the long run and I think we have done that very well through the global financial crisis.

"We are definitely a much stronger business today than we were three years ago."

Kelly said she selected elements of her strategy from US-based Wells Fargo.

"There are elements of their strategy that are very similar to our strategy," Kelly said.

"It's about deep relations with customers throughout the cycle, about making sure we retain our customers and support them, building advocacy with our customers which leads to referrals."