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James Mitchell
Westpac chief executive Gail Kelly has welcomed the increased competition between lenders.
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Speaking at an Australia-Israel Chamber of Commerce lunch in Melbourne yesterday, Ms Kelly said aggressive advertising by rival banks, such as NAB’s price-based incentives for home buyers to switch lenders, had not forced the public to distrust the major or its policies.
Ms Kelly welcomed the competition and said aggressive advertising and price strategies from the other majors forced Westpac to step up its game.
Ms Kelly also said the bank was committed to delivering the most competitive products through its multi-brand strategy.
“I have been involved in managing multi-brand strategies all my working life and we understand what it takes to do it successfully,” she said.
