Philip Chronican, Group Executive
Westpac Institutional Bank (WIB) services the financial needs of corporations, institutions and government customers either based in, or with interests in, Australia and New Zealand.
WIB operates through dedicated industry teams supported by specialised expertise in financial markets, debt capital markets, transactional banking, specialised capital and alternative investments. Clients are supported through branches and subsidiaries located in Australia, New Zealand, New York, London and Asia.
| Financial Results | |||
Institutional Bank1 |
2007 |
2006 |
%Mov’t 07/06 |
 |
|||
Operating income ($m) |
1,404 |
1,215 |
16 |
|
|||
Operating expenses ($m) |
(607) |
(537) |
(13) |
|
|||
Cash earnings ($m) |
534 |
454 |
18 |
|
|||
Economic profit ($m) |
269 |
251 |
7 |
|
|||
Total assets ($bn) |
73.9 |
50.5 |
46 |
|
|||
Deposits ($bn) |
8.7 |
6.8 |
28 |
|
|||
Net loans & acceptances ($bn) |
41.9 |
31.3 |
34 |
|
|||
Expense to income ratio (%) |
43.2 |
44.2 |
(2) |
|
|||
Employee numbers |
1,683 |
1,558 |
8 |
|
|||
1 Excludes the largely discontinued Structured Finance business.
