Recent events
Recent events tied to this brand in public sources.
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2026
Westpac announces 250 job cuts
Westpac announced plans to cut 250 jobs before Christmas, saying it aimed to actively manage costs and investment.
2026
Westpac workforce changes affect about 140 roles
About 140 roles were affected by workforce changes at Westpac as part of a broader organisational restructure. The Finance Sector Union said the changes were part of an accelerated rollout of AI, while a Westpac spokesperson said they were not related to AI.
2021
Westpac completes sale of vehicle finance businesses
Westpac completed the sale of its vehicle dealer finance and novated leasing businesses to Angle Finance. The business, which had a wholesale dealer loan book of approximately $1 billion in receivables, will operate as Angle Auto Finance.
2021
Westpac reduces discount in share buyback offer
Westpac reduced the discount offered for shares in its off-market buyback and extended the timeframe of its $3.5 billion offer to help spur investor interest.
2021
Westpac announces plan to acquire MoneyBrilliant
Westpac said it will acquire the MoneyBrilliant app from AMP and management shareholders. The deal was expected to be finalised in January 2022, subject to regulatory approval.
2021
Westpac launches its banking app for Android
Westpac launched its mobile banking app for Android, making the app available to Android customers with features including search and navigation tools, digital card security, and payments.
2021
Westpac partners with IDCARE on regional cyber resilience clinics
Westpac announced a partnership with IDCARE to support regional and rural Australians affected by scams. The partnership will help launch a Cyber Resilience Outreach Clinic Program involving 50 new hubs in regional and rural communities.
2021
Federal Court orders Westpac subsidiaries to pay a $10.5 million penalty
The Federal Court of Australia ordered Westpac Securities Administration Limited and BT Funds Management Limited to pay a combined $10.5 million civil penalty after finding that they provided financial product advice to 14 customers without complying with applicable legal duties.
2021
Westpac subsidiaries to pay A$10.5 million over superannuation campaign
Westpac subsidiaries Westpac Securities and BT Funds Management will pay a total of $10.5 million for breaches related to a campaign that encouraged savers to transfer their superannuation and was found to have failed to act in customers’ best interests.
2021
Westpac and TAL enter a 20-year strategic alliance
As part of the Westpac life insurance business sale, Westpac and TAL agreed to a 20-year strategic alliance to provide life products to Westpac's Australian clients.
2021
Westpac agrees to sell Australian life insurance business
Westpac agreed to sell its Australian life insurance division, Westpac Life Insurance Services, to TAL Dai-ichi Life Australia for A$900 million. The sale is subject to regulatory approval, with completion expected in the second half of 2022.
2021
Westpac and Fidelity Life enter 15-year distribution agreement
Westpac and Fidelity Life Assurance Company entered into an exclusive 15-year agreement for distributing life insurance products to Westpac's New Zealand customers.
2021
Westpac files proceedings against Forum Finance over alleged fraud
Westpac commenced proceedings in the Federal Court of Australia against Forum Finance following the discovery of a significant potential fraud. Westpac said the alleged fraud related to equipment leases arranged by Forum Finance and referred to Westpac's Institutional Bank.
2021
Westpac sues Forum Financial over alleged fraud
Westpac launched Federal Court proceedings against Sydney-based Forum Financial over an alleged fraud that could cost the bank more than $200 million. The article reports allegations and does not establish that Forum Financial or its operator committed fraud.
2021
Westpac sells lenders mortgage insurance business to Arch Capital
Westpac sold its lenders mortgage insurance business to Arch Capital; the deal includes a 10-year exclusive supply agreement for Arch Capital.
2021
Westpac and G8 Education sustainability-linked loan
Westpac announced that it structured a A$350 million sustainability-linked loan facility for G8 Education, with Westpac, Royal Bank of Canada and Commonwealth Bank of Australia appointed as joint mandated lead arrangers and bookrunners.
2020
Westpac announces sale of general insurance business to Allianz
Westpac announced it would sell its General Insurance and General Insurance Services businesses to Allianz for $725 million, subject to regulatory approvals; the transaction was expected to occur in the second half of 2021.
2020
Westpac announces exit from most Asian markets
Westpac announced that it would withdraw from local operations and locations in Beijing, Shanghai, Hong Kong, Mumbai and Jakarta, consolidating international operations into branches in Singapore, London and New York. The article says the withdrawal would take up to two years to complete.
2020
Westpac agrees to sell its Vendor Finance business
Westpac Group announced that it had entered into an agreement to sell its Vendor Finance business to Angle Finance, a portfolio company of Cerberus Capital Management. Completion was expected at the end of April 2021.
2020
AUSTRAC considers additional allegations against Westpac
Westpac said AUSTRAC notified it that the financial crime watchdog may include additional allegations in its case against the lender, following further examination of matters including suspicious transactions involving 272 customers.