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Jay Watson (left) and Ben Jones are now together at Westpac. Photo: Attila Csaszar

Westpac expands business banking arm

Westpac Bank has absorbed the Western Australian business banking operations of its wholly-owned subsidiary St George Bank, adding to a string of changes in the sector.

Westpac has just more than 300 commercial and small business bankers in WA after this week’s combination with St George.

That confirms its status as the second largest business banking group in WA behind Bankwest, according to data compiled by Business News in the BNiQ Search Engine.

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
177thCIMIC Group70%16%
361stLendlease17%20%
403rdANZ Banking Group9%14%
486thWestpac-2%13%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

11/11/14
$0 Bought
11/11/14
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

7th↑Westpac$21,642.0m
8th↓ANZ Banking Group$21,071.0m
10th-Lendlease$15,350.3m
12th-CIMIC Group$13,325.4m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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