Westpac still considering sale of platforms and super business
Westpac has used its first-half results announcement to confirm that both its life insurance business and its major platforms business remain under consideration for sale.
In an investor briefing, the big four banking group confirmed the expected completion dates for the sale of its vendor finance, general insurance and lender mortgage insurance businesses and confirmed that its life insurance, auto finance and superannuation, platforms and investments businesses were “under consideration”.
The businesses fall within the bank’s so-called Specialist Business Division, with the briefing pack nominating the BT, BT Panorama, Advance Asset Management, and Asgard brands.
The vendor finance, general insurance and Westpac Pacific sale transactions are all slated to complete in the second half of this year.
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