Westpac NZ closed its Winton branch this week, as the bank’s Australian parent considered splitting the New Zealand entity off..Westpac NZ's demerger from its parent company could bring a number of benefits to the New Zealand business sector, a lawyer says. However, given changing capital requirements in New Zealand it was “now appropriate to assess the best structure for these businesses going forward”. RNZ A banking expert is calling the possible sale of Westpac an exciting opportunity for the New Zealand sharemarket. Smaller shareholders in the NAB demerger were also given the chance to sell back their shares without brokerage. ''It seems likely, but not inevitable, that a demerger might result in renaming and rebranding of Westpac New Zealand Ltd.''

Source: Stuff March 31, 2021 19:52 UTC