Oct 14 (Reuters) - Westpac Banking Corp (WBC) :
- WESTPAC TO CONSOLIDATE ITS INTERNATIONAL OPERATIONS-WBC.AX
- DECIDED TO CONSOLIDATE ITS INTERNATIONAL OPERATIONS INTO THREE BRANCHES; SINGAPORE, LONDON AND NEW YORK
- DECISION MEANS GROUP WILL EXIT OPERATIONS IN BEIJING, SHANGHAI, HONG KONG, MUMBAI, AND JAKARTA
- PRIORITY IS TO FOCUS ON CORE AUSTRALIAN AND NEW ZEALAND CUSTOMERS AND TO SUPPORT THEM IN AREAS WHERE WE HAVE SCALE AND CAPABILITY
- CHANGES ARE ARE PLANNED TO IMPROVE GROUP'S CAPITAL EFFICIENCY, INCLUDING BY REDUCING RISK-WEIGHTED ASSETS BY OVER $5 BILLION
- CHANGES ARE NOT EXPECTED TO HAVE SIGNIFICANT IMPACT ON CASH EARNINGS AND, OVER TIME, ARE PLANNED TO IMPROVE GROUP'S CAPITAL EFFICIENCY
Source ( https://bit.ly/34Xy1s7)
(([email protected];))
News: WBC Westpac To Consolidate International Operations, Exits China and other countries
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