Report on Corporate Finance

Report on Corporate Finance
Report on Corporate Finance
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1Report on Corporate Finance
Introduction
Westpac is Australia’s biggest banking corporations. It was established in the year 1871
as bank of south Wales. It is one of the prominent enterprises which has shaped the social and
economic frame of Australia and New Zealand. It is one the largest banks in New Zealand. It has
made a profit of $8,095 million for the year 2018. The bank is focused in maintaining the quality
of its performance specially by upgrading the technology used by its customers. Spending around
$800 million since inception. Being a banking system people look up at it for financial loans,
debt, mortgage service and saving account facilities. It has devised new strategies for saving
accounts (Westpac.com.au, 2019).
The organization has 35000 employees working for it and it is situated in more than 1000
locations across Australia and New Zealand. It is recognized as the most sustainable banks in the
down Jones sustainability index. It has more than 9 million consumers across the world. They
have customer from low to medium to high class of economy. They are into commercial and
Agribusiness banking. They provide a wide range of financial product and services like
automotive and equipment finance, trade finance, property finance, investment services. They
have diversified into many banking segments based in Uk, US, Australia and New Zealand. BT
Financial Group, Westpac Institutional Bank, Westpac Migrant Banking, Banking Alliance for
Women and Reinventure banking segments to name a few. The Board of directors are Lindsay
Maxsted (chairman) and Brian Hartzer (chief executive officer). There are many other members
who are responsible for the corporate governance and sustainable business operations
(Kandachar, and Halme, 2017).

2Report on Corporate Finance
Being one of the biggest organizations it has some responsibility towards the society and
the environment. They play an important role in creating a positive social, environmental and
economic impact on the society (Raut, Cheikhrouhou, and Kharat, 2017). They believe in
working in a transparent banking system. The banking stem allows its customer to know
everything that they are liable to. For the social sustainable development they are working on
certain sustainability strategies like providing financial literacy program to everyone from
individual to non-profit organization. They are making financial knowledge and its importance
easier for all groups of candidates. They educated by promoting campaign for more than 512,000
children through Mathspace, 1.5 million young Australians via The Cusp, 229,000 women
through Ruby Connection and 2.5 million Australians aged via Starts at 60. To be more into the
social regime they introduced more than 37,000 financial assistance packages to struggling
customers. In 2018 they announced $100 million Drought Assistance Package to customers with
Farm Management Deposit. They also donated 104 relief packages for customers impacted by
natural disasters across Australia. They lent $1.36 billion to the social and affordable housing
sector, up from $1.32 billion in 2017. These can be considered as their social sustainability
strategies which they follow to make it a sustainable organization (Westpac.com.au, 2019).
The ethical and corporate governance facet can be analyzed by looking into the action of
the company to make it a sustainable organization ethically (Chew, Tan, and Hamid, 2016).
They have more than 50% of the employees are women. They are highest hiring company with a
4.3 % of hiring every year. They are the award receiver of the Employer of Choice for Gender
Equality by the Workplace Gender Equality Agency. They take care of their employees by
giving them regular training . They promote health care by initializing the men’s health week,
women’s health week and white ribbon day. Recently they released the UK Slavery and Human