Westpac named best retail bank in Australia and Asia-Pacific
12 June, 2007
Westpac was today named the Best Retail Bank in Asia and Best Retail Bank in Australia, for outstanding performance in 2006 at The Asian Banker Magazine's Excellence in Financial Services Awards held in Shanghai.
In announcing Westpac as the winner of the two awards, The Asian Banker said Westpac was a clear leader: "Strong profit and revenue growth as well as a focus on rolling out new products were fundamental in its first-rate showing."
Westpac Group Executive, Consumer Financial Services, Mike Pratt, said the award recognised Westpac's competitive standing across all areas of retail banking, by improving its knowledge of customer needs and leveraging service and sales expertise.
"Westpac has made a significant investment over a number of years to improve our customer relationship tools to take the lead with responsible banking. We want to be the bank that really knows what matters to the people we serve," Mr Pratt said.
"We will continue to invest in our customer relationship tools and employ more front-line bankers to build upon the pleasing productivity and sales lifts, which have contributed to Westpac being recognised as the fasting growing retail bank over the last 12 months."
The Best Retail Bank in Asia award is the highest accolade for retail financial services in the Asia-Pacific region. The award was judged on ten criteria, including financial performance, strategy, sustainability, ethical banking, sales, risk management, technology, distribution and human resources.
More than 140 banks and financial institutions in 22 countries across the Asia-Pacific region were evaluated as part of the Excellence in Retail Financial Services Program.
The Asian Banker award is the latest in a series of award wins for Westpac, including:
- Judged the world's most sustainable bank by the Dow Jones Sustainability Index, for the fifth year running;
- Ranked number one in Australia for corporate responsibility by the Corporate Responsibility Index, for the fourth year running;
- Rated the Australian sustainable company of the year at the fifth Annual Australian Sustainability Awards;
- Strong product set - 2007 Money Magazine - Best Home Loan Package and Best Featured Home Loan.
