Westpac NZ has been named Best Developed Market Bank in New Zealand in Global Finance Magazine’s 23rd annual awards which judges banks all around the world to find the best for each region.
Westpac Australia was also named as the winner for Australia.
“Global Finance’s annual Best Bank Awards honour those financial institutions that excel at providing their customers with the service and product offerings that best meet their unique needs,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.
“These banks may not be the largest or oldest banks in their markets, but they have the strength and vision to outshine their peers.”
The judges looked at both objective criteria (growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products) and subjective criteria (opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry).
In their release, Global Finance said “The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished better results while laying the foundations for future success.”