Westpac is the oldest continuously operating bank in Australia, founded in 1817 as the Bank of New South Wales.
The Bank of New South Wales was established in Sydney to provide banking services in the early colonial economy. It expanded across Australia and the Pacific, later becoming known as Westpac after merging with the Commercial Bank of Australia in 1982.
The name Westpac combines “Western Pacific,” reflecting the bank’s historical regional connections. Westpac became one of Australia’s major banking groups and remains part of the country’s large banking sector.
The claim concerns continuous operation and institutional lineage, not necessarily the oldest surviving building or the first bank branch in every Australian settlement. Westpac is also distinct from the Commonwealth Bank of Australia, which was established later, in 1911, as a government-owned bank.