On 10 June 2015, Westpac announced a new, simplified operating structure. The structure better aligns our business with key customer segments with the 5 key divisions including: Consumer Bank, Commercial and Business Bank, BT Financial Group, Westpac Institutional Bank and Westpac New Zealand.
Under this structure, Westpac retains its unique portfolio of brands including Westpac, St.George, Bank of Melbourne, BankSA and RAMS. These brands will operate under the Consumer Bank and Commercial and Business Bank divisions.
While this new structure was effective from 10 June 2015, for the financial year ended 30 September 2015, the Group will report its financial performance under its old reporting structure as that is the way the business was managed for most of the year.
Under Westpac’s prior operating structure, and current reporting structure, the Group’s 5 key divisions were.