Few parts of the economy endure such regulatory and cyclical challenges in remote locations as the natural resources sector. Commodity price swings, political mood stings and even supply chain dings means that succeeding in such a globally competitive market takes a committed banking partner.
That's why we have on-demand Natural Resource specialist bankers, backed by strong business networks and possessed of extensive industry insights, who can partner with you.
"We moved to Westpac about a year and a half ago. The key reason was our previous bank was not proactive….they were not reactive to our needs and, comparatively, they were quite expensive." - Bhavesh Kotecha, Financial Controller at mining service company Transmin.
And as Australia's oldest and longest serving bank, we arguably know the natural resource vagaries of this big brown land better than most, including:
- Financing growth - get help structuring long term funding requirements, maximising working capital options, structured credit facilities, guarantees, plus advice on leasing and setting up personal finance options
- Improving cash flow - via invoice finance, equipment finance, insurance premium funding, as well as specific funding options for businesses trading overseas
- Helping staff through migrant banking services, superannuation advice and financial planning to assist employees with their personal wealth
- Managing risk by ensuring you and your assets are adequately protected with various business, key man and business interruption cover
- Wealth and succession planning - it's easy to get in touch with our financial planners. They can help devise and implement the best strategies for your circumstances, as well as advise on the relevant education program providers should you need help planning your exit from the business.
Changing banks made easy
Switching banks can be a big deal. Business continuity is paramount. This is why we have 'transition' managers dedicated to ensure that the transfer to Westpac is as seamless as possible. You will have a specific transition manager during the whole process, who will be part of your Natural Resources Specialist Banker’s team.
The transition manager is able to liaise and coordinate with various bank specialists and product teams allowing you to focus on what matters most - improving the effectiveness, growth and profitability of your natural resources business.