Westpac

• Ian Rogers

Westpac shareholders will be asked to consider a pair of provocative resolutions lobbed by the activist group Market Forces at its annual meeting. read more

• Ian Rogers

Westpac employee earning less than $102,000 will receive a 5% upfront pay increase in the first year of a new three-year pay deal. read more

• Ian Rogers

Westpac’s profit will fall in FY2024, slump in 2025 and plateau in 2026, a harsh report on the bank by analysts Matthew Wilson and Christian Mazza from Jefferies concludes. read more

• Ian Rogers

Commonwealth Bank is targeting a mortgage book of $3 trillion. read more

• Ian Rogers

There were 33,290 full-time equivalent employees on the Westpac payroll at the end of Brian Hartzer’s tenure as CEO of Westpac. And 35,350 FTEs now. read more

• Ian Rogers

The considered underinvestment by the four big banks in New Zealand in their core systems is one of the bedrocks of the oligopoly’s long-running dominance of the country’s banking sector, the New Zeal.. read more

Banking Day changes its view and lets the data tell the story. Westpac is now doing well, making market share inroads and for once being wiser on where it is going. read more

• Banking Day staff

OUR CHEAPEST SUBSCRIPTION OFFER IN 20 YEARS read more

• Ian Rogers

What took them so long?  Westpac’s RAMS brand has ceased taking applications for new home finance. read more

• Ian Rogers

Net promoter scores have tumbled across the banking sector over the last year. The Roy Morgan findings are grim in the case of Westpac. read more

• Bernard Kellerman

Westpac has reversed long term customer churn among larger sized businesses. read more

• Ian Rogers

Westpac breached its obligations under the Banking Code of Practice “in a serious and systemic manner” when it closed its Tennant Creek, Northern Territory branch on 19 September 2022. read more

• Ian Rogers

Too little time is spent considering the unbelievable personnel costs line, which blows away any remaining claims to efficiency or productivity in banking read more

• Ian Rogers

A trial of regional banking hubs in New Zealand has flopped, and so instead NZ’s five largest banks will extend their commitment not to close regional branches for the next three years. read more

• Ian Rogers

Re-establishing a government owned bank, one with a focus on assuring the supply of financial services in regional areas, is the chief proposal in the report of the Senate’s Rural and Regional Affairs.. read more

• John Kavanagh

Banks are looking for ways to preserve margins in their home loan businesses and one area where they are taking a harder look is their relationships with brokers. read more

• Ian Rogers

A bank branch (mainly NAB’s) closed in regional Australia every 5 days since a Senate inquiry into bank closures in regional Australia was announced early last year. read more

• John Kavanagh

Deposits are 'key differentiators of profitability' and banks’ ability to manage their deposit mix will be important to their earnings when rates start to fall. read more

• John Kavanagh

Westpac has launched an ambitious upgrade of its technology simplification program in a bid to improve customer outcomes and bring its cost-to-income ratio down to the level of its better performing b.. read more

• Banking Day staff

Westpac has moved its audit business from PwC, its auditor of 50 years, to KPMG.  read more