User:Duncnbiscuit/Westpac New Zealand
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Westpac New Zealand
[edit]
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Financial, banking |
| Founded | 1988, as a Bank 2006, as a bank & public company |
| Headquarters | Auckland, New Zealand |
Key people | |
| Products |
|
Number of employees | 4500 (2020) |
| Parent | Westpac Banking Corporation |
| Website | www |
Westpac New Zealand is a New Zealand subsidiary of Westpac Banking Group. The bank provides retail, business, agribusiness and institutional banking. With Kiwisaver and wealth management provided by its subsidiary BTNZ. Westpac NZ also provides banking services for the New Zealand government. The bank's main headquarters is 16 Takutai Square in Auckland. Along with other headquarters in Wellington and Christchurch the bank has regional banking centres and a branch network covering New Zealand. Westpac NZ was founded in 1988 following WBG's aquisition of Trust Bank. Orginally trading as WestpacTrust the bank was rebranded as Westpac in 1996.
Copy from Westpac article - Westpac New Zealand
[edit] | It has been suggested that this section be split out into another page titled Westpac New Zealand. (Discuss) (May 2023) |
On 22 July 2014, the firm announced that it would pilot a host card emulation (HCE) mobile payments technology to customers. It was the first bank in New Zealand to actively bring HCE mobile payments to market[1] and one of only a handful of banks globally to be using the innovative 'digital wallet' technology. The three-month trial, using Carta Worldwide HCE technology, enabled customers to securely store and access credit and debit card information in a remote and hosted 'cloud' environment, enabling customers to use their Android smartphones as digital wallets. Soon after, in August 2014, Westpac NZ announced that it would be releasing the world's first augmented bank app,[2] which adds layers of functionality to the digital wallet by enabling users to check account balances, view previous spending behaviors, pay bills and locate their nearest Westpac NZ branch or ATM. The app is also viewable in a 3D format by supported devices.
Banking Statistics
[edit]- NIM
- NPS
- banking ombadsman
- RBNZ"RBNZ KEY METRIC SUMMARY". Retrieved 7 June 2024.
- Capital Adequacy - Total capital ratio
- Liquidity - Core Funding Ratio
- Credit Exposure - Top 5 credit exposures to non-bank counterparties
- Total Assets
- Return on Assets
- Total non-performing loans ratio
- Credit rating
- S&P
- Finch
- Moody's
Services
[edit]- Retail banking
- SME banking
- Agribusiness
- Institutional/corporate banking
* WIB * WBC NZ
- Kiwisaver and Wealth Management
* BTNZ
- banker for the NZ Government
- Insurance
* life - Fidelity Life * general - IAG
Board, shareholders, etc
[edit]History
[edit]- Legislation
Westpac Banking Corporation Act 1982[3]
- 2000 Merger
Braddell, Richard (30 June 2000). "It's lonely at top for WestpacTrust boss". NZ Herald.
- 2002 WestpacTrust
Merger CEO resigns - TAYLOR, KEVIN (20 May 2002). "Business Merger leader departs WestpacTrust". NZ Herald. "Obituary: Westpac's change agent and former CEO dies".
Name change - "Return to Westpac for New Zealanders". NZ Herald. 2 October 2002.
1st female CEO of an NZ Bank "WestpacTrust appoints woman as chief executive". NZ Herald. 10 October 2002.
- "Business has positive role to play - honoree".
- 2009 Tax case
In October 2009, Westpac NZ was required to pay NZ$961 million to the Inland Revenue Department (New Zealand) in avoided taxes.[4]
"Westpac loses massive tax case on all counts".
- On 29 September 2006 the New Zealand Commerce Commission fined Westpac NZ$5.1 million for hidden foreign transaction fees, with most of the fine being reimbursement to affected customers, in the order of 12% of the fees actually charged. All other banks operating in New Zealand had either already been fined or were awaiting a court case.[5]
- 2009 $10 million mistake
"$10m error Gao's dream come true: ex-employee".
- 2013 CEO pay - "Westpac chief takes pay cut - earns just $3.16m".
- 2011 Supreme Court ruling on Westpac vs Map ans Associates
"Westpac wrong to hold funds in accounting case".
- 2017 RBNZ Compliance - Rutherford, Hamish (17 November 2017). "Reserve Bank slams Westpac over 'serious non-compliance' with risk rules". Stuff.
- 2021 divestment - Stock, Rob (24 June 2021). "Here to stay: Westpac won't sell its New Zealand business". Stuff.
- 2021 sale of Life Insurance book to Fidelity Life "Westpac sells life insurance business for $400m". RNZ. 6 July 2021.
- 2021 Cathrine McGrath becomes CEO
"Westpac NZ appoints former ASB executive Catherine McGrath as its new CEO".
logos
[edit]Charity, Sponsorship and Naming rights
[edit]- Manage your Money Workshops
Rescue Helicopters
[edit]The sponsorship began in 1981 when Westpac sponsored the Wellington helicopter service.[6]
- Westpac Chopper Appeal
"Westpac Chopper Appeal". Retrieved 6 June 2024. Lindsay, Brayden (16 May 2024). "Celebrities pedal with heart as rescue chopper ride hits $1m mark". Stuff.
- Westpac Rashies
"Stay safe in the water this summer with Westpac Rescue Rashies". Newshub. 9 November 2023.
Other Partnerships
[edit]- Blake Blake
In December 2003, the Sir Peter Blake Trust was established, with the support of the Blake family, "to help New Zealanders make a positive difference for the planet through activities that encourage environmental awareness and action, and leadership development."
The Trust has a range of initiatives, including the annual Sir Peter Blake Leadership Awards. These awards consist of the Blake Medal, awarded each year to an outstanding New Zealand leader, and the Sir Peter Blake Emerging Leader Awards, presented annually to six people recognised as younger leaders of considerable potential. Westpac NZ is a Founding Partner of the Blake NZ.
- Te Waiu o Aotearoa Trust tertiary study scholarships
Te Waiu o Aotearoa Trust was established in 1994 and is administered by Westpac New Zealand. It awards scholarships to tertiary students with the aim of promoting the advancement of Māori in the general business, banking and finance industries. Johari, Sneha (24 April 2024). "Southlander among recipients of Te Waiu scholarships". Stuff.
Naming rights
[edit]- Westpac Stadium in Wellington from 2000 to 2019[7]
- Westpac New Zealand Franchise Awards
"The Westpac New Zealand Franchisee Awards". Retrieved 5 June 2024.
- Westpac Park Cricket Ground, Hamilton
"The naming rights deals of New Zealand's stadiums, ranked".
References
[edit]- ^ "Westpac trialsTrials HCE Digital Wallet Technology" Archived 26 March 2015 at the Wayback Machine, 22 July 2014.
- ^ "Augmented Reality – world first for Westpac customers" Archived 27 September 2014 at the Wayback Machine, 5 August 2014.
- ^ "Westpac Banking Corporation Act 1982". www.legislation.govt.nz. 17 September 1982. Retrieved 15 June 2024.
- ^ Louisson, Simon (7 October 2009). "Westpac loses NZ Court Tax Case". The Wall Street Journal. Archived from the original on 23 December 2015. Retrieved 8 October 2009.
- ^ "Westpac to pay $5.1 million over credit card fees, Kiwibank joins list of companies facing charges". Commerce Commission. 29 September 2006. Archived from the original on 27 September 2007. Retrieved 16 January 2007.
- ^ Westpac Rescue Helicopters (from the Westpac New Zealand website)
- ^ "Sky TV buys naming rights for Wellington's Westpac Stadium". RNZ. 22 August 2019.
External links
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| Banking |
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