Finance

THE CHART: How Westpac compares to the other big banks

Andy Fyers
Fri, 26 Mar 2021

THE CHART: How Westpac compares to the other big banks

Westpac NZ could be up for sale.

Andy Fyers
Fri, 26 Mar 2021

Westpac has announced it is considering selling off its New Zealand banking business.The announcement follows the RBNZ ordering the bank to commission two reports as a result of the bank's failure to comply with liquidity reporting requirements.It was also censured in 2017 for failing to get internal models for calculating capital approved by the RBNZ.The penalty that time was a requirement for the bank to carry an extra $1 billion of capital for two years.Now the parent company says it is looking to offload the NZ component of the business...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News vie email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Coronavirus

Red light for Auckland, orange for South Island

Brent Melville | Mon, 29 Nov 2021

The government will move New Zealand to its traffic light framework from Friday with most of the country in either the red or orange levels.

Opinion

Taming the beast that's inflation

Cameron Bagrie | Mon, 29 Nov 2021

The RBNZ’s job is not going to be easy over the coming years. There are myriad forces at play and reading the tea leaves will be tough.

Tourism

The cost of slow border openings to tourism: $39b by 2024

Brent Melville | Mon, 29 Nov 2021

The impact on New Zealand's tourism sector will continue to be felt until the country removes its border quarantine system, tourism operators say.

THE CHART: How Westpac compares to the other big banks

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team