Westpac's operations comprise five key areas of business, through which we serve around 8.3 million customers. These five business areas are:
*Business and Consumer Banking includes deposit taking, transaction accounts, credit cards and other lending. We are a major home loan provider and also meet the finance needs of small to medium-sized business customers with a turnover of around $100 million. Investment, superannuation and general and life insurance products are also sold through our branch network.
*Wealth Management comprises our asset accumulation, investment management and life insurance operations in Australia and New Zealand. Wealth Management designs, manufactures and services financial products to enable customers to build, manage and protect their wealth.
These products include managed investments (mutual funds), superannuation (pensions), life insurance, income protection, discount securities broking, margin lending, client portfolio administration (Wrap) platforms and portfolio management and administration of corporate superannuation. We also provide custody and settlement services to institutional customers and fund managers.
*Westpac Institutional Bank (WIB) provides financial services to the corporate and institutional customer base, assisting and advising in the management of cash, funding, capital and market risk for companies and institutions in Australia and New Zealand.
*New Zealand Retail provides a full range of retail and commercial services to customers throughout New Zealand. It is the leading provider of banking services to small to medium business and is the banker of the New Zealand government.
*Pacific Banking provides a full range of deposit, loan, transaction account and international trade facilities to personal and business customers.