Westpac's Australian parent mulls spinning it off

Westpac's Australian parent mulls spinning it off
Westpac group chief executive Peter King.
Jenny Ruth
Westpac is considering spinning off its New Zealand banking business but says the review is at "a very early stage" and no decisions have been made.The Australian bank said it has been "assessing the appropriate structure for its NZ business and whether a demerger would be in the best interests of shareholders".The review will also consider the impact of the Reserve Bank of New Zealand's regulatory move against the NZ subsidiary announced earlier today, Westpac said.The Reserve Bank has ordered the Australian-owned bank...

More Finance

Court funding miss ‘undermines market confidence’
Finance

Court funding miss ‘undermines market confidence’

Plenary and Infrastructure NZ wrote to ministers over PPP ‘disappointment’.

Phasing out $6b capital layer unlikely to dent banks’ ratings
Finance

Phasing out $6b capital layer unlikely to dent banks’ ratings

Banks’ credit ratings likely unmoved if Additional Tier 1 capital phased out. 

‘Unusual’ volume of CCCFA changes in focus
Finance

‘Unusual’ volume of CCCFA changes in focus

Select committee mulls proposed changes to CCCFA, to report recommendations Oct 20.

Andy Macdonald 16 Sep 2025
Banks revise economic outlooks for Q2 GDP contraction
Finance

Banks revise economic outlooks for Q2 GDP contraction

Economists now see NZ's GDP contracting in Q2, but doubt a technical recession in Q3.

Andy Macdonald 15 Sep 2025