Westpac is reviewing its New Zealand business and may look at demerging from its Australian parent via a sale. He doubted the bank would end up selling to another bank, although it could look at a separate sharemarket float on the NZX. Westpac is also assessing the appropriate structure for its New Zealand business and whether a demerger would be in the best interests of shareholders." "This will also consider the impact of the Reserve Bank of New Zealand's (RBNZ) reviews." Westpac said its New Zealand business continues to perform well with a strong position in retail and commercial banking.

Source: New Zealand Herald March 24, 2021 04:21 UTC