Hi AxeHimmans, this was the hangover from the 2008 GFC when Westpac took over Capital and St George - both had large car dealer finance floor plan and retail businesses, as well as Capital's equipment finance - Westpac had no appetite for either - this is the latest culling and consolidation. They sold Capital's vendor finance division 6 months ago and this one gets them out of car dealer land. Trade players often buy existing loan books and do nothing with them other than collect receivables.
Westpac exiting auto loans, page-4
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Mkt cap ! $225.0M | |||
| Open | High | Low | Value | Volume |
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