Westpac Banking Corp Sponsored

Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist and Group. The Consumer segment provides banking products, including mortgages, credit cards, personal loans, and savings and deposit products. The Business segment serves the banking needs of SME and commercial customers, including agribusiness and provides banking and advisory services to high net worth individuals through private wealth. The Westpac Institutional Bank segment provides a broad range of financial products and services to corporate, institutional and government customers. The Westpac New Zealand segment provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand. The Specialist segment comprises the operations that Westpac ultimately plans to exit with agreements in place for the sale of Westpac Life Insurance and motor vehicle dealer finance and notated leasing businesses. The Group segment includes the results of unallocated support functions such as treasury, chief operating office and core support. It also includes group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. The company was founded in 1817 and is headquartered in Sydney, Australia.

Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist Businesses and Group Businesses. The Consumer segment provides banking products, including mortgages, credit cards, personal loans, and savings and deposit products. The Business segment serves the banking needs of SME and commercial customers, including agribusiness and provides banking and advisory services to high net worth individuals through private wealth. The Westpac Institutional Bank segment provides a broad range of financial products and services to corporate, institutional and government customers. The Westpac New Zealand segment provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand. The Specialist Businesses segment comprises the operations that Westpac ultimately plans to exit with agreements in place for the sale of Westpac Life Insurance and motor vehicle dealer finance and notated leasing businesses. The Group Businesses segment includes the results of unallocated support functions such as treasury, chief operating office and core support. It also includes group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. The company was founded in 1817 and is headquartered in Sydney, Australia.

Westpac Banking Corp  will be required to hold an extra A$500 million in capital after Australia's banking regulator announced an investigation into the bank's alleged money laundering breaches.

Westpac's capital requirements boosted by Australian regulators after scandal

Australia's Westpac Banking Corp  faces a showdown with investors at its annual meeting this week, seeking to hold back an avalanche of outrage over a money laundering scandal that includes accusations of enabling child exploitation payments.

Australia's Westpac faces investor rage after exploitation payment scandal

Behind The Idea: Westpac's Problems Extend Far Beyond Money Laundering Scandal

Westpac Banking could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.

Moving Average Crossover Alert: Westpac Banking

Australia's Westpac Banking Corp  offered to refund people who bought new shares weeks before a lawsuit accusing it of millions of breaches of money laundering laws, a move some investors said was to fend off criticism about its transparency.

Scandal-hit Westpac to refund some buyers of new shares

Australia's Westpac Banking Corp  offered to refund investors who bought new shares weeks before a bombshell lawsuit accusing it of millions of breaches of money laundering laws, a rare step to fend off criticism about its transparency.

Australia's Westpac to refund people who bought shares before money laundering bombshell

Australian lender Westpac Banking Corp said on Thursday it would let investors withdraw their share purchase applications filed prior to the money laundering allegations made by financial crime watchdog AUSTRAC on Nov. 20.

Australia's Westpac allows withdrawal of share purchase applications

Two of Australia's top shareholder proxy advisers on Wednesday urged investors to vote out more directors of Westpac Banking Corp  after a money-laundering scandal claimed the CEO and chairman of the country's No.2 retail bank.

Australia's Westpac faces shareholder backlash over money-laundering scandal

The CEO and chairman of Australia's Westpac Banking Corp  are out after financial crime watchdog AUSTRAC accused the bank of 23 million breaches of anti-money laundering laws, including payments related to child exploitation.

Factbox: Five years of Australian finance scandals

Australia's Westpac Banking Corp  lost a bid to supply loans to a government home-deposit assistance scheme in a blow to its main income generator as it battles a money-laundering scandal, The Australian newspaper reported on Wednesday.

Australia's Westpac cut from home-loan scheme as scandal fallout spreads: The Australian

Two top executives at Westpac, one of Australia's biggest banks, are out after the company was hit with extensive claims that it had systematically allowed money laundering on its watch.

Top bank CEO in Australia steps down over money laundering scandal

PERTH, Australia (AP) — The chief executive of Australia’s second-biggest bank said Tuesday he plans to resign following accusations Westpac committed 23 million breaches of anti-money laundering and counterterrorism financing laws. The financial crime regulator AUSTRAC is pursuing Westpac in the Federal Court for allegedly failing to report millions of international fund transfers including payments.

Westpac Bank chief resigns over $7 billion money-laundering scandal

The chief executive of Australia's Westpac Banking Corp stepped down on Tuesday over a money laundering scandal involving child exploitation, just a day after he told staff it was "not a major issue" and that he intended to stay on.

CEO of Australia's Westpac exits over money laundering scandal

Westpac Banking Corp  on Tuesday said chief executive Brian Hartzer has resigned, as Australia's second-biggest bank faces the country's biggest money laundering scandal.

Westpac CEO resigns as money-laundering scandal rocks Australia's second-biggest bank

The board of Australia's second largest bank on Friday apologized unreservedly for 23 million breaches of money laundering laws, but stood by management despite pressure from politicians to review its leadership.

Board of Australia's Westpac 'unreservedly apologizes' over money-laundering

Goldman Sachs  cut its target price for Westpac Banking Corp  as Australia's second-biggest bank faces the country's biggest money laundering scandal.

Australia's Westpac faces Goldman cut as money-laundering scandal rocks bank

Pressure mounted on the chief executive of Westpac Banking Corp  on Thursday over the handling of Australia's biggest money laundering scandal, with the prime minister calling on bank's board to review his position.

Pressure grows on Westpac CEO after massive Australian money laundering scandal

Prime Minister Scott Morrison said on Thursday it was up to the board of Westpac Banking Corp to decide whether Chief Executive Brian Hartzer should resign in the wake of Australia's biggest money laundering scandal.

Up to Westpac to weigh CEO's future amid money-laundering scandal, Australian PM says

Regulators on Wednesday accused Australia's Westpac Banking Corp  of 23 million breaches of anti-money laundering laws, saying the bank ignored red flags and enabled payments from convicted child sex offenders and "high risk" countries for years.

Australia's Westpac slapped with 23 million money laundering breaches

Westpac Banking Corporation (WBK) CEO Brian Hartzer on Q3 2019 Results - Earnings Call Transcript

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