Westpac

Westpac Reports Decline in Profit Amidst Rising Interest Rates

3 months ago

Westpac Banking Corporation has announced a decrease in its profit, attributing this decline to the increasingly challenging interest rate environment faced by its clients. The Australian banking giant revealed its earnings figures for the first half of the financial year, showcasing the impact of escalating borrowing costs on household savings and spending habits.

Consumer Confidence in Australia Declines Amidst Economic Uncertainty

5 months ago

Recent data indicates a worrying trend in consumer sentiment across Australia, which has dipped for the second consecutive month amid growing concerns about the nation's economic outlook. According to the latest survey conducted by Westpac and the Melbourne Institute, Australia's consumer sentiment index faced a significant drop of 3.4% in December, following a 1.1% decrease in November. This decline reflects a general sense of uncertainty among consumers regarding their financial future and broader economic conditions.

Westpac NZ's CEO Advocates for Fintech Accreditation to Accelerate Open Banking

6 months ago

In a bold move to catalyze the progress of open banking in New Zealand, David McLean, the CEO of Westpac New Zealand, has called for the implementation of a fintech accreditation framework. This proposal aims to streamline the integration of new financial technologies with traditional banking systems, thereby enhancing consumer choice and financial service innovation.