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14 March 2007

Westpac increases commitment to local business banking in New South Wales

Westpac today unveiled its continued commitment to local business banking in New South Wales as Westpac's Group Executive, Business Financial Services, Peter Hanlon officially opened the Parramatta Business Banking Centre.

Mr Hanlon said the new Parramatta Business Banking Centre, the first of seven new or refurbished centres to open in NSW in 2007, highlights Westpac's pledge to give customers increased access to local business knowledge under one roof.

The centre is part of Westpac's Business Bank of Choice strategy, bringing dedicated business banking teams to local communities across Australia and expanding representation in Sydney's rapidly developing second CBD, Parramatta.

"The opening of the Parramatta Business Banking Centre marks an exciting time for Westpac and is a significant investment for us. Our focus is on positioning ourselves where businesses need us most. Parramatta is fast becoming a major business hub in Sydney and is ideally situated for us to better service our existing customers and provide specialist business knowledge and financial expertise to new customers," Mr Hanlon said.

"Sydney's west boasts strong population growth, expanding industries and increasing business investment, especially in commercial and industrial areas, and we are committed to being a part of this dynamic business community. Already the team at the business banking centre are working with clients in services, property investment, transport and logistics as well as wholesalers, importers and childcare operators, so staff are developing a broad range of contacts and niche skills."

The expanded services available through the new Parramatta centre will allow Westpac staff to be even more focused with the products and solutions they offer local businesses. Customers will be able to draw upon staff's specialist skills in providing faster turnarounds on loan and credit applications, according to Steve Kemp, Westpac's Head of Commercial Banking in Sydney's Metro West.

"Westpac will be investing in 12 new centres or major refurbishments to existing centres nationwide in 2007, with 7 centres in Parramatta, Campbelltown, Wagga Wagga, Norwest, Erina, Penrith and Wetherill Park. We have recently appointed 400 new business bankers and support staff, with significant training in place for existing staff members," Mr Kemp said.

"With a staff of nine senior relationship managers and two assistant managers; nine customer managers; four business bankers; 11 specialists in financial planning, equipment financing, invoice financing, international markets, transactional business, credit analysis and credit risk; and, seven support and customer service staff, the Parramatta Business Banking Centre team have a wealth of combined financial services experience helping them to understand their customers and deliver the right solutions for them."

The Centre, which was outfitted by leading interior design firm, Geyer, will feature a series of hot desks with a selection of expert staff, bringing a wider range of specialised services, from business lending to debt financing, as well as regular networking events to the area.