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February 12, 2016 7:46 AM ET


Company Overview of Westpac New Zealand Limited

Company Overview

Westpac New Zealand Limited operates in the consumer banking and wealth, commercial corporate and institutional banking, and investment and insurance sectors in New Zealand. The company’s personal banking services include savings and transaction accounts, term investments, debit and credit cards, home loans, personal loans, investment solutions, and foreign exchange services; and life, income and debt, home and content, cars and other vehicles, and travel insurance, as well as mobile and online banking services. Its business banking services comprise corporate online banking solutions, business term loans, equipment finance, business overdraft, payment solutions, trade finance and supply cha...

Takutai Square

16 Takutai Square

Auckland,  1010

New Zealand

Founded in 1861

Key Executives for Westpac New Zealand Limited

Chief Executive Officer and Executive Director
Age: 57
Chief Financial Officer
General Manager of Operations & Contact Centres
Chief Executive Officer of Westpac Banking Corporation and Director of Westpac Banking Corporation
Age: 59
Chief Information Officer
Compensation as of Fiscal Year 2015.

Westpac New Zealand Limited Key Developments

Westpac NZ Announces Unaudited Earnings Results for the Full Year 2015

Westpac NZ announced unaudited earnings results for the full year 2015. For the year, the company announced cash earnings of $851 million up 8% a year ago. Revenue was up 7%, supported by a 7% growth in lending, deposits up 5% and a 4bp rise in margins.

Westpac New Zealand Limited Presents at ECBC Covered Bond Congress 2015, Sep-10-2015 10:45 AM

Westpac New Zealand Limited Presents at ECBC Covered Bond Congress 2015, Sep-10-2015 10:45 AM. Venue: Avenida Diagonal 661-671, Palau de Congressos de Catalunya, Barcelona - 08028, Spain. Speakers: Jim Reardon, Treasurer.

Westpac New Zealand Limited Reports Unaudited Consolidated Financial Results for the Nine Months Ended June 30, 2015; Resolves to Pay an Unimputed Dividend for Fiscal 2015

Westpac New Zealand Limited reported unaudited consolidated financial results for the nine months ended June 30, 2015. For the nine months, interest income was NZD 3,297 million against NZD 2,910 million for the same period of last year. Net interest income was NZD 1,332 million against NZD 1,210 million for the same period of last year. Operating profit was NZD 946 million against NZD 973 million for the same period of last year. Profit before income tax expense was NZD 946 million against NZD 973 million for the same period of last year. Profit after income tax expense attributable to owners of the Banking Group was NZD 687 million against NZD 721 million for the same period of last year. Net cash (used in)/provided by operating activities was NZD 556 million against NZD 1,367 million for the same period of last year. Purchase of capitalised computer software was NZD 26 million against NZD 55 million for the same period of last year. Purchase of property, plant and equipment was NZD 11 million against NZD 9 million for the same period of last year. On 19 August 2015, the board has resolved to pay an unimputed dividend of NZD 600 million on ordinary shares and to issue 600 million ordinary shares at a price of NZD 1 per share to its immediate parent company, WNZGL.

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