Westpac+Bank



Market Capitalisation 12 Feb 2010 - $69,050 million Rank (ASX Top 100) - No 3 CEO - Gail Kelly

Ranked No 2 in Best Company Overall Ranked No 4 in Focus on Shareholder Value (profitability for owners) Ranked No 2 for Environmental, Social & Corporate Governance
 * The Age 13/2/10 (East Coles Top 10) **

Westpac is on the way to become Australia's most profitable bank but customers are unhappy with the profiteering and have ranked the bank the worst in Australia giving it a score of 4/10 Interest Rates/Charges, 5/10 Trust, 5.5/10 for Overall Customer Service. In all three categories Westpac scored the bottom ranking.
 * Herald Sun 17/2/10 - Customer Fury at Westpac Greed **

Chief Exec Gail Kelly announced a $1.6 billion profit for the 3 months to the end of Dec 2009. (On track for $6 billion profit for the year)

Financial Services comparison web site MOZO claim that Westpac "..profits would eventually suffer because thousands of customers were ready to leave the bank." Editorial Comment p30: There may be worse to come as Ms Kelly's massive salary package ($10million 2009) comes under review