Westpac demerger is off
The bank’s New Zealand arm will not be cut loose after all, its Australian parent says.
Westpac New Zealand will remain part of the wider Westpac group, the bank has told the market.
“After a detailed review, we believe a demerger of the Westpac NZ business would not be in the best interests of shareholders,”said g roup chief executive officer Peter King.
The review
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