Annual Review 2008Annual review Focus
Westpac Institutional Bank
Philip Chronican, Group Executive


Westpac Institutional Bank (WIB) serves the financial needs of corporate, institutional and government customers either based in, or with interests in, Australia and New Zealand. This is achieved through dedicated industry teams supported by specialists with expertise in financial markets, transactional banking and debt capital markets. WIB provides access to global markets across a broad range of products through its debt markets, foreign exchange and commodities businesses. WIB’s equities business provides margin lending, structured products, managed portfolios and online broking services to retail and high net worth customers. In addition,

WIB’s Hastings Funds Management manufactures alternative investment products in areas such as infrastructure and property. WIB also supports customers through branches and subsidiaries located in Australia, New Zealand, New York, London and across Asia.



“With even deeper customer relationships, we have been able to provide better outcomes for our customers.”


Business Unit
Performance
2008
2007
% Mov't
2008/ 2007

Westpac Institutional Bank
Operating income ($m)
1,733
1,530
13
Operating expenses ($m)
(702)
(656)
(7)
Cash earnings ($m)
566
588
(4)
Economic profit ($m)
232
326
(29)
Total assets ($bn)
96.5
79.4
22
Deposits ($bn)
11.4
8.6
33
Net loans ($bn)
54.7
46.8
17
Expense to income ratio(%)
40.5
42.9
(6)
Employee numbers
1,818
1,674
9

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