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The second largest bank in Australia, now known as Westpac bank was
established in 1817 and was known as Bank of New South Wales. It was the
first bank in Australia and was set in Sydney. Westpac is a
multinational financial services company and the second largest bank in
New Zealand by market capitalization share.
The bank has grown by acquiring different banks at intervals of time. It
acquired Western Australian Bank in 1927 and Australian Bank of Commerce
in 1931. It opened branches all over and outside Australia. In 1982,
Bank of New South Wales became Westpac Banking Corporation after the
merger with the Commercial Bank of Australia.
After the merger with St .George in December 2008, the bank has 10
million customers, Australia's largest branch network with almost 1200
branches and an ATM network with more than 2800 ATMs. The bank holds
second position in all the fields like home lending wealth platforms by
funds under Administration, business banking lender and by assets.
The bank has earned its name as the most sustainable bank in the world
for five years running, by the Dow Jones Sustainability Index.
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