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| Westpac has been a proud part of New Zealand history and community since 1861. Beginning life as The Bank of New South Wales, we changed our name to Westpac in 1982. |
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| Over time the bank has grown stronger with the addition of the Commercial Bank of Australia and TrustBank. After 145 years in New Zealand, the Bank’s local identity was formally strengthened by the launch of Westpac New Zealand Limited in 2006. |
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1861
Just one month before gold is found in Central Otago, the Bank of New South Wales (BNSW) sets up shop in New Zealand, opening seven branches throughout the country.
1864
The first trustee savings banks are set up in Otago and Invercargill, establishing a long tradition of community involvement.
1886
Modern technology arrives at the bank with the arrival of - telephones!
1892
The BNSW purchases its first typewriter - a Remington model two.
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1912
The Commercial Bank of Australia (CBA) extends its operation to New Zealand, opening 19 branches throughout the country.
1920
Adding machines are introduced to the larger BNSW branches. Initially their use is discouraged as it is considered beneficial for young officers to practice their long additions without assistance.
1926
Trustee savings banks pioneer thrift club and school bank accounts. |
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1956
Burrough's ledger machines are introduced, marking the beginning of mechanisation and computerisation in banking. |
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1959
Waikato Savings Bank is established, followed by savings banks in Canterbury and Hawkes Bay (1962), Manawatu and Wanganui (1963), South Canterbury, Bay of Plenty and Wellington (1964).
1979
The BNSW and CBA issue their first credit cards. |
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1981
The first Westpac Rescue Helicopter takes off in Wellington, followed by the Westpac Rescue Helicopters in Auckland (1986), Christchurch (1987) and Waikato (1987).
Today the four Westpac rescue helicopters fly around 2,000 missions each year. Find out more... |
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1982
The Commercial Bank of Australia joins the Wales and the Bank changed its name to Westpac.
Electronic banking is introduced with the first automatic teller machines (ATMs) and debit cards. |
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1984
EFTPOS makes its New Zealand debut. New Zealanders have been the highest users in the world with one EFTPOS terminal for every 60 people. |
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1986
The Trust Bank Group was formed, combining Trustee Savings Banks from around the country. In 1988 the Group becomes Trust Bank New Zealand.
1988
Westpac meets Harold the Giraffe, beginning the bank's sponsorship of the Life Education Trust.
Life Education Trust mobile classrooms established by 2001, reaching almost 300,000 primary and intermediate school children each year. |
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Well over a century after the first telephones entered branches, phone banking was introduced. Now an integral part of the banking system more than 360,000 people use phone banking each month.
1996
Westpac and Trust Bank merged to form WestpacTrust, creating New Zealand's largest bank, with over 1.3 million customers.
1997
Westpac New Zealand launched its first Internet page. |
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2000
The Westpac Stadium opened in Wellington.
The bank launched Online Banking, revolutionising the way customers do their banking. |
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June 2001
Online Banking transactions hit one million with 100,000 registered customers.
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2002
The first woman to head a New Zealand bank, Ann Sherry, is appointed as Chief Executive Officer of Westpac.
Westpac acquired BT Funds Management, which forms an integral part of the Westpac Financial Group.
Westpac changes its New Zealand name from WestpacTrust to Westpac, and relocates the head office from Wellington to Auckland. |
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2003
Westpac is awarded the NZ Equal Employment Trust Work and Life award 2003 at the EEO Awards.
The NBR awarded Westpac as the Bank of the year at the inaugural ININZ industry awards held in June. |
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2004
The NBR awarded Westpac as the Bank of the year for the second year. |
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2005
In March, Westpac adopted a Zero waste policy to significantly reduce the amount of waste we produce.
In December, Westpac received an AAA rating in the RepuTex Social Responsibility Ratings survey, for the third year in a row.
There were over 21 million transactions processed on Internet banking for the 2005 year. |
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2006
In November 2006 , Westpac New Zealand Limited was established as a locally incorporated, wholly owned subsidiary of Westpac Banking Corporation. After 145 years in New Zealand, our local identity was formally strengthened by the launch of this new company which enabled the Bank to adopt a dual operating model in New Zealand. The new model involved the Bank conducting its consumer and business banking operations through the locally incorporated company, with the branch, Westpac Banking Corporation New Zealand Branch (‘NZ Branch’) conducting the institutional and financial markets operations.
Talking Automatic teller Machines (ATMs) were launched in 2006, Westpac was the first trading bank to introduce the machines to assist the visually impaired.
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2007
In March 2007 Brad Cooper became the new Westpac New Zealand Chief Executive Officer. Brad Cooper was the Chairman of GE Capital Bank and CEO of GE Money’s UK and Ireland business. |
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2008
The Westpac Group merged with St George Bank in Australia, to become one of the largest financial service companies in Australasia.
Westpac launched its four-year sustainability plan made up of five environmental and five social goals, that we need to achieve by 2012.
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2009
New Chief Executive Officer (CEO), George Frazis, is welcomed to Westpac in March. George was formerly the Group Executive General Manager at National Australia Bank (NAB).
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2011
In November 2011 following a further review of Westpac’s operating model in New Zealand, certain products and services were transferred from the NZ Branch to Westpac New Zealand Limited. The products and services transferred include institutional lending, deposits and transactional services. This provides the Westpac group with the regulatory framework and capacity to meet the growth of banking requirements into the future. It also allows for an increased level of local decision making and reinforces our commitment to the New Zealand economy.
The products and services that remain with the NZ Branch include Financial Markets, International Business and Correspondent Banking as these businesses are integrated within Westpac group’s global operations.
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Links
Westpac Archives are described on the NZ National Register of Archives and Manuscripts. |
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