Westpac, Australia's fourth-largest bank has made an unsolicited offer to buy St George Bank to create Australia's second-largest bank. The all-stock offer for St George was made last Friday although terms have not been disclosed. Trading in the shares of both companies have been suspended. Profits at St George fell 10 per cent in the six months to 31 March 2008 but Westpac boosted its bottom line by 34 per cent in the same period. St George attained full banking status in July 1992 after operating as a building society. It now employs over 9,000 people and has a wealth management operation. Westpac’s chief executive officer, Gail Kelly, was previously in charge at St George for six years.