Westpac Essay Example | Topics and Well Written Essays - 750 words

Westpac - Essay Example Not only the net income of the bank has been improving but the total assets of the bank have increased to $670,228 million in the year 2011 from a figure of $618,277 million in 2010. Therefore the bank has been prospering and improving its profitability with the passage of time. This report analyzes the performance of the first Australian Bank, Westpac and the environment in which the bank has been operating. The report first analyzes the conditions and pressures that would impact the performance of the bank and then the report examines the effectiveness of the response and progress of the company towards the sustainability strategies. Moreover, the report analyzes the competitive positioning and then highlights the unique internal capabilities that the bank has which have helped in making the bank successful over the years. Financial indicators have been examined of the bank that have helped in analyzing how profitability the company has been from its past years. After the financial crisis, the banking industry has observed several changes. Banks throughout the world including in Australia did not observe good time period after the financial crisis. Several banks became more cautious and implemented different strategies to minimize their risk and to improve their profitability. With the passage of time, several banks have been able to recover from the impacts of recession; however there are still some banks that have still been struggling to find their footstep back on the right track after being hit by the financial crisis. Westpac can be considered as one of the banks that have been able to achieve profitability after being hit by the great financial crisis and therefore the strategies adapted by the bank need to be examined and discussed. Different banks have adapted different kinds of strategies to improve their profitability. One of the strategies that have been successful to a certain extent has been to merge or acquire