St.George/Westpac merger information for customers

Benefits for customers

A combined St.George and Westpac will strengthen both banks and ensure we are well placed to compete here with both overseas and local banks.

St.George and Westpac will be stronger together, with a solid AA credit rating and the ability to offer customers security in these turbulent times.

Together, St.George and Westpac will take banking convenience to a new level. From 1 December 2008, St.George customers will have access to an extended ATM network and using a Westpac ATM anywhere in Australia won't cost you any more than using a St.George ATM.  That means you will have the convenience of access to over 2,700 ATMs nationally.

The brands and branch networks of both organisations, including in regional and rural Australia, will be retained. So for St.George customer’s, your experience with St.George will not change.

Quick facts – how the merger will benefit customers

• Together, the merged Group will be one of Australia's leading financial services companies
• Customers will experience even greater convenience with access to more than 2,700 ATMs nationally
• The merged Group will have an even greater focus on retaining customer relationships by enhancing, over time, the customer experience through an increase in product choice and greater access and convenience for customers
• The merged Group's over 10 million customers will continue to be serviced by their existing banking brand
• The merged Group will be the leading provider of home lending
• The merged Group will be the largest provider of wealth platforms by funds under administration
• The merged Group will preserve and enhance the best of both organisations
• Over time there will be access to a greater range of products and services

St.George Chairman John Curtis said:
"The merger will allow the distinctive brands, culture and customer service focus of St.George to be retained and strengthened. This should greatly enhance customer experience and shareholder value."

Westpac Chairman Ted Evans said:
"The merger of Westpac and St.George will ultimately deliver improved customer service with strong brand support, enhanced returns for shareholders and a strong commitment to community initiatives. The combination of both organisations’ strengths and leading customer advocacy will create a compelling proposition for all stakeholders."