Starting as the Bank of NSW in 1817, Westpac is the oldest bank in Australia. Going through a transition following the merger of several smaller banks, the name Westpac was chosen to reflect the institution's status as a major player in the Western Pacific. The fourth largest bank in Australia, and strong across the Australasian region (with numerous branches in New Zealand and throughout the Pacific), Westpac provides a full-range of banking services, from deposits and transactions, to lending and credit cards. Services include home loans as well as personal loans, investments (including structured investments and advice), superannuation packages, plus extensive insurance and small-business banking services. Their 0.7 percent per annum interest rate on selected home loan packages helped them secure the prize of Australia's Best Home Loan Package for 2007.