Westpac Banking Corporation
(ASX:WBC) has launched a $100 million education scholarship program called the Westpac Bicentennial Foundation.
The bank has described program as the single largest private education scholarship program in Australian history.
The charitable foundation will have an exclusive focus on the education and advancement of Australians. The scholarships will be aimed at Australians who have the potential to shape Australia’s future.
Westpac’s one-off contribution of $100 million will fund about 100 scholarships and awards annually in perpetuity to Australians.
The $100 million education scholarship program comes as Westpac approaches its 200th anniversary in 2017.
Westpac Banking Corporation reported a net profit of $6.89 billion in the 2013 financial year.
