Westpac says that as part of its “fix, simplify and perform” strategy, it is considering the businesses it operates. Westpac is considering a “demerger” of its New Zealand business. “Westpac is also assessing the appropriate structure for its New Zealand business and whether a demerger would be in the best interests of shareholders. MARK TAYLOR/STUFF Reserve Bank of New Zealand governor Adrian Orr may want to have say over any purchaser of Westpac NZ, according to KPMG head of banking and finance John Kensington. Supplied Massey University professor of banking David Tripe says Westpac may struggle to find a buyer for its New Zealand arm.

Source: Stuff March 24, 2021 04:17 UTC