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Westpac Announces Long Service Leave Remediation
Australia's ASIC Refers To Dismissal Of Its Responsible Lending Appeal Regarding Westpac
Westpac Announces Pendal Group Ltd Institutional Offer
Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in these markets, including consumer, business and institutional banking and wealth management services. The Company’s operations consist of various divisions including Consumer, Business, Westpac Institutional Bank (WIB) and Westpac New Zealand. Consumer division is responsible for sales and service to consumer customers in Australia. Business division provides business banking and wealth facilities and products for customers across Australia. WIB delivers a broad range of financial products and services to commercial, corporate, institutional and government customers operating in, or with connections to Australia and New Zealand. Westpac New Zealand is responsible for sales and service of banking, wealth and insurance products for consumer, business and institutional customers in New Zealand.
L 18 275 Kent St
Non-Executive Independent Chairman of the Board
Peter Francis King
Chief Executive Officer, Managing Director, Executive Director
Chief Financial Officer
Chief Executive of Business division
David Alexander McLean
Chief Executive Officer - Westpac New Zealand Limited
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Australia's Westpac Banking Corp <WBC.AX> on Friday said it will have to pay A$8 million ($5.5 million) to around 8,000 employees who were found to have been underpaid their long-service leave entitlements due to calculation errors.
Australia's Westpac Banking Corp on Friday said it will have to pay A$8 million ($5.54 million) to around 8,000 employees who were found to have been underpaid their long service leave entitlements due to calculation errors.
An Australian appeals court on Friday threw out a regulator lawsuit against Westpac Banking Corp <WBC.AX>, saying the country's second largest lender's method for determining whether homebuyers could service their mortgages had not broken the law.
Westpac Banking Corp <WBC.AX> said on Thursday it has agreed to sell its remaining 9.5% stake in fund operator Pendal Group Ltd <PDL.AX> to institutional investors for about A$185.4 million ($128 million).
Westpac Banking Corp said on Wednesday it would sell its remaining 9.5% stake in fund operator Pendal Group Ltd for about A$185.4 million ($128.26 million).
Australia's financial crime watchdog may add additional breaches of anti-money laundering laws related to suspected child exploitation transactions to its lawsuit against Westpac Banking Corp, the bank said on Friday.
Australia's Westpac Banking Corp on Friday said it was notified by the financial crime watchdog that it may include additional allegations of wrongdoing in its case against the lender for breaching anti-money laundering laws.
Australia's Westpac Banking Corp <WBC.AX> said an internal investigation had concluded that child exploitation payments made through its system were the result of "faults of omission" and not intentional wrongdoing.
Australian lender Westpac Banking Corp said on Thursday its millions of breaches of anti-money laundering and counter-terrorism laws were caused by "faults of omission" and not intentional wrongdoing.
Australia's Westpac Banking Corp <WBC.AX> said on Friday the head of its institutional bank was retiring from the lender, adding to a string of management changes since a major money laundering scandal last year.
Westpac changed their call on New Zealand interest rates on Thursday, saying they now expect the Reserve Bank of New Zealand (RBNZ) to cut rates to -0.5% by April next year.
Westpac Banking Corp <WBC.AX> named an insider on Tuesday to a newly created role overseeing financial crime and compliance after the bank was caught up in a major money laundering scandal last year.
Westpac Banking Corp named an insider on Tuesday to a newly created role to oversee financial crime and compliance after the bank was caught up in a major money laundering scandal toward the end of last year.
British state-backed bank NatWest <RBS.L> has appointed Westpac <WBC.AX> executive David Lindberg as chief executive of its retail banking business.
Westpac Banking Corp <WBC.AX> admitted to millions of breaches of anti-money laundering and counter-terrorism laws in a filing in Australia's Federal Court on Friday, but denied accusations it enabled illegal payments between known child sex offenders.
Australia's second largest bank Westpac Banking Corp on Friday said it has filed its defence in a case where it is accused of 23 million alleged breaches of anti-money laundering laws.
Westpac Banking Corp <WBC.AX> said on Monday it would not pay a dividend in June, as it posted a 70% drop in first-half cash earnings and announced a strategic review of its underperforming wealth, pension investments and insurance units.
Westpac Banking Corp on Monday deferred a decision on its interim dividend and posted an 70% drop in first-half cash earnings, hit by steep costs over a money laundering scandal and a surge in charges for bad loans due to the coronavirus outbreak.
Westpac Banking Corp <WBC.AX> said it would write down more than A$3.67 billion ($2.36 billion) in its first-half results, with most of the charges stemming from the economic deterioration expected from the coronavirus outbreak.
Westpac said on Tuesday that negative interest rates would be a natural next step for New Zealand's central bank as it responds to the economic fallout of the coronavirus crisis.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.