Westpac offloads NZ life for $373m
The $373m sale to NZ’s Fidelity Life comes as Westpac also weighs final bids for its Australian life division.
Westpac
ASX dips, RBA holds rates
The RBA has held the cash rate steady, while the ASX 200 has dipped from its early gains. BHP up after iron ore price gain. Westpac sells NZ life insurance business.
Westpac unable to find key figure in alleged fraud
Westpac has been unable to locate the key figure at the heart of a $293.4m alleged fraud that has caught up some of the biggest names in corporate Australia.
Westpac bids to liquidate firm behind fraud claim
Westpac has moved to liquidate Forum Finance and freeze the assets of executives behind the equipment leasing company after uncovering an alleged $260m fraud.
Soccer boss linked to alleged $260m Westpac fraud
Westpac has taken legal action over a $260m exposure to alleged ‘significant potential fraud’ involving equipment leases.
Big bank uncovers huge potential fraud
A big four bank has uncovered a huge potential fraud and is chasing the suspected ‘external perpetrator’ in court.
Westpac to pay $87m for missed advice
The bank will compensate former customers who weren’t alerted to opportunities from events like share buybacks and takeovers.
ASX off highs, travel stocks gain
ASX 200 gains, with travel stocks higher. Seven swipe at Boral, Westpac alleges ‘significant’ potential fraud.
Westpac sidesteps AusPost deal
Australia Post has brokered new decade long agreements with two major banks, but Westpac has so far shunned committing long-term.
Westpac exits car dealer loans
Westpac will exit $1bn of car dealer loans and run down its $10bn portfolio of retail auto loans.
Aussie bank gets out of car loans
Westpac is making more progress selling parts of its business in a bid to become leaner and more profitable, this time getting out of car financing.
ASX recovers, miners, banks, retailers gain
ASX ends flat, recovering from an early dip after BHP, Rio Tinto, CBA, Wesfarmers and Endeavour Drinks rose.
Westpac set to exit life business
Westpac may pull the trigger on separate deals for the sale of its New Zealand and Australian life insurance businesses in coming weeks.
Debt to limit rate hikes: Evans
A week ago Bill Evans predicted the Reserve Bank would lift interest rates at least a year earlier than its guidance indicated. What’s his call now?
Why Westpac stuck to NZ
What drove the nail in the coffin of Westpac’s NZ spin-off proposal? Attention across the Tasman now shifts to two key roles.
Investors back Westpac’s NZ decision
Westpac’s move to avoid a costly split from its NZ business has ‘achieved its purpose’ of giving the Kiwi regulator something to think about, investors say.
Why interest rates may have to rise sooner
Interest rates should rise much quicker than the Reserve Bank forecasts, two major banks have predicted.
Cerberus set to outlay at least $400m for Westpac auto loans
Private equity firm Cerberus Capital Management is understood to have offered to pay between $400 million and $500 million for Westpac’s auto loan business after fending off its competitors to win the portfolio this week.
Cerberus wins Westpac unit race
Private equity firm Cerberus has won the contest to buy Westpac’s car loan business, say sources.
RBA to hike rates in 2023: Westpac
The Reserve Bank will start increasing the official cash rate in early 2023 a leading economist said after the release of stronger-than-expected employment data this week.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/33