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It is now a month since we first announced the proposed merger between St.George and Westpac. What I would like to do is to share with you, via this open letter, our vision for the future and the ways in which this union will benefit customers of both St.George and Westpac. It is important to note that we are approaching this in a very different way from prior mergers within Australia. Our vision, and my personal passion, is one of putting customers at the centre, working hard to deepen relationships and improve the service experience. We want to be a bank that earns all our customers' business.

This means that we will continue to respect your choices. We will retain, and enhance, both St.George and Westpac brands, and our customer touchpoints, even if the branches are right alongside each other. We will retain our branches and St.George's, including in regional and rural Australia. Most importantly, this means that the wonderful employees from both St.George and Westpac, whom you know and deal with day-to-day, won't change.

One key benefit that we will be able to offer from the outset is that both St.George and Westpac's customers will be able to use each other's ATMs (over 2,700 in total) without paying any additional fees.

Over time, we expect that, through an integrated and enhanced operating platform, we will be able to offer the best of both products and services.

A united St.George and Westpac will be Australia's largest financial services company and will be well placed to meet the challenges that the world's economies are now facing. We will have a strong credit rating and be well positioned to compete here with overseas and local banks, and to offer the security you deserve and need.

You will find more information on the merger at westpac.com.au/merger and please do not hesitate to contact me directly at gailkellyCEO@westpac.com.au to share your thoughts. I would love to hear from you.

Thank you for your support.

Gail Kelly
CEO Westpac