January 31, 2015 7:21 AM ET

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Company Overview of Westpac New Zealand Limited

Company Overview

Westpac New Zealand Limited provides consumer, business, and institutional banking services to individuals, small and medium sized enterprises, and corporate customers in New Zealand. It operates through Retail Banking, Business Bank and Wealth, and Corporate and Institutional segments. The company’s personal banking services include savings and transaction accounts, term investments, debit and credit cards, home loans, personal loans, investment solutions and advisory services, 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 corpora...

Takutai Square

16 Takutai Square

Auckland,  1010

New Zealand

Founded in 1861

Key Executives for Westpac New Zealand Limited

Acting Chief Executive Officer
Age: 56
Chief Financial Officer
Chief Executive Officer of Westpac Banking Corporation and Director of Westpac Banking Corporation
Age: 58
General Manager of Regulatory Affairs & Corporate Services and General Counsel
Chief Risk Officer
Compensation as of Fiscal Year 2014.

Westpac New Zealand Limited Key Developments

Westpac New Zealand Limited Announces Unaudited Group and Standalone Earnings Results for the Year Ended September 30, 2014

Westpac New Zealand Limited announced unaudited group and standalone earnings results for the year ended September 30, 2014. For the period, on group basis, the company reported net interest income of NZD 1,640 million against NZD 1,536 million a year ago. Net operating income was NZD 2,120 million against NZD 1,907 million a year ago. Profit before income tax expense was NZD 1,278 million against NZD 991 million a year ago. Profit after income tax expense attributable to owners of the banking group was NZD 938 million against NZD 711 million a year ago. Net cash provided by operating activities was NZD 516 million against NZD 3,951 million a year ago. Purchase of property, plant and equipment was NZD 40 million against NZD 37 million a year ago. Purchase of capitalised computer software was NZD 59 million compared to NZD 97 million a year ago. Purchase of available -for-sale securities was NZD 430 million compared to NZD 191 million a year ago. For the period, on standalone basis, the company reported net interest income of NZD 1,622 million against NZD 1,519 million a year ago. Net operating income was NZD 2,099 million against NZD 1,877 million a year ago. Profit before income tax expense was NZD 1,257 million against NZD 959 million a year ago. Profit after income tax expense attributable to owners of the banking group was NZD 925 million against NZD 691 million a year ago. Net cash used in operating activities was NZD 91 million against net cash provided by operating activities of NZD 3,951 million a year ago. Purchase of property, plant and equipment was NZD 20 million against NZD 4 million a year ago. Purchase of capitalized computer software was NZD 59 million compared to NZD 97 million a year ago. Purchase of available -for-sale securities was NZD 430 million compared to NZD 191 million a year ago.

Westpac New Zealand Limited Presents at FICO World 2014 Conference, Nov-11-2014

Westpac New Zealand Limited Presents at FICO World 2014 Conference, Nov-11-2014 . Venue: San Diego, California, United States. Speakers: David Malcolm, Chief Risk Officer.

Westpac New Zealand Reports Audited Earnings Results for the Second Half Year and Full Year Ended September 30, 2014

Westpac New Zealand reported audited earnings results for the second half year and full year ended September 30, 2014. For the year, the company reported net interest income of AUD 1,592 million compared to AUD 1,554 million reported last year. Net operating income was AUD 2,071 million against AUD 2,027 million reported last year. Core earnings were AUD 1,222 million against AUD 1,182 million reported last year. Operating profit before tax was AUD 1,196 million against AUD 1,065 million reported last year. Cash earnings were AUD 864 million against AUD 768 million reported last year. For the second half year, the company reported net interest income of AUD 809 million. Net operating income was AUD 1,049 million. Core earnings were AUD 622 million. Operating profit before tax was AUD 600 million. Cash earnings were AUD 432 million.

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