Westpac Banking Corp (WBC.xasx)

Westpac Banking Corp (WBC.xasx)

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Westpac Banking Corp (WBC.xasx) Profile

Westpac Banking Corp (WBC.xasx) is a bank and financial services provider headquartered in Sydney, Australia. Westpac bank is the first bank and the oldest company in Australia providing consumer, business and institutional banking and wealth management services. Westpac has over 1,204 branches in Asia, New Zealand, Europe, North America and the Pacific region, 3,222 ATMs, 14M customers, and employs almost 40,000 people. Westpac’s Banking Corporation total assets amounted to approximately $912B (AUD) in 2020 and had a market capitalisation of $77.33B (AUD) as of November 2021. Westpac Banking Corp (WBC.xasx) stock is listed on the Australian Securities Exchange Ltd (ASX). Westpac operates a unique portfolio of brands, including Westpac, St. George, Bank of Melbourne, BankSA, BT and RAMS, and is a member of the Global ATM Alliance. The company was the first to release the world’s first augmented bank app in 2014 and today committed $150M (AUD) to the venture capital group Reinventure with the objective to raise the impact of technology in financial markets. Westpac has increased the number of its fixed home loan rates, marking the second time the bank has done so in just over two weeks as of November 2021. This year Westpac is delivering a return to shareholders of $5.7B (AUD).

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Each investor owning shares of a company is also owning fragments of the company. A quite simple way to explain what a stock is is basically when a company divides itself into several shares and then it makes a part of these equities available to the public, at a price. Each investor owning shares of a company is owning fragments of the company.

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