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Survey Ranks Westpac Institutional Bank No.1 in Relationship Banking


28 June 2012

Westpac Institutional Bank today announced it has been ranked No.1 for Relationship Banking, according to the benchmark annual survey of Australia’s largest companies by Peter Lee Associates. It also rated Westpac Institutional Bank No.1 Lead Bank for Transactional Banking for the ninth year in a row.

The survey found that more companies rated Westpac Institutional Bank No.1 than any other bank across three key measures of Relationship Banking.

“It’s an intensely competitive environment. For us at Westpac, it’s about working closely with our customers to really understand them and to be there with ideas and capabilities that benefit their businesses,” said Jeff Mitchell, Managing Director, Corporate and Institutional Banking.

Based on 549 face-to-face interviews with senior executives responsible for large corporate banking relationships, Westpac Institutional Bank was rated No.1 for Lead Bank in Relationship Banking, No.1 for Customer Satisfaction for the sixth year in a row and No.1 in Relationship Strength. In Transactional Banking Westpac Institutional Bank was ranked the No.1 for Lead Domestic Bank and came equal first in overall Customer Satisfaction.

“This survey is the point of reference by which the banks measure how their large corporate customers perceive them. To be voted number one by our customers is extremely rewarding and has shown us that they truly value what we do for them. I am very proud of our team who have all contributed to this fantastic result and sincerely thank our customers for their ongoing support. It means a lot to us,” Mr Mitchell said.

About Westpac Institutional Bank

Westpac Institutional Bank (WIB) delivers a broad range of financial services to commercial, corporate, institutional and government customers with connections to Australia and New Zealand.

WIB operates through dedicated industry relationship and specialist product teams with expert knowledge in transactional banking, financial and debt capital markets, specialised capital, and alternative investment solutions.

Customers are supported through Westpac branches and subsidiaries located in Australia, New Zealand, United States, United Kingdom and Asia.

About Peter Lee Associates

Peter Lee Associates is a specialised Australian research and consulting firm whose mission is to help leading financial service corporations build and maintain a competitive advantage in service to their wholesale clients.

Peter Lee’s annual survey targets companies with turnover of greater than $500m per annum and is based on 549 face to face interviews with senior executives responsible for corporate and institutional banking.