Finance

THE CHART: How Westpac compares to the other big banks

Andy Fyers
Fri, 26 Mar 2021

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...

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