👉 Background: Westpac is Australia’s oldest bank. It was originally established in 1817 as the Bank of New South Wales. Fun fact for you: It is actually a portmanteau of ‘Western and ‘Pacific’ (Westpac).

👉 What happened: Last week, Westpac locked in a multimillion-dollar, multi-year sponsorship deal with the National Rugby League (NRL). And now, Westpac shall hereby be known as the NRL’s official banking and payments partner. Very niche.

👉 What else: Westpac is keen on the NRL because rugby league is still the biggest winter sport in NSW and Queensland… and these are states where Westpac is looking to sell many mortgages.

What's the key learning?

💡Major sponsorships allow companies to benefit from increased awareness, sales, and better brand positioning. “Well, I mean, if Westpac likes my football club, they must be good for me” - NRL supporter.

💡This is somewhat ironic because we know banks had their reputations whacked the banking royal commission. But now, they are kind of back in the ‘good books’ (compared to the recent scrutiny on mining and energy companies).

💡And Westpac isn’t the only bank throwing the bag at sports.

• Commonwealth Bank sponsors women’s sports, including the Matildas football team.
• National Australia Bank is still a major sponsor of the AFL, including AFLW.

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