Australia’s Westpac assessing possible demerger of New Zealand business

March 24 (Reuters) – Westpac Banking Corp said on Wednesday it was in the early stages of assessing a possible demerger of its New Zealand business.

The reasons for such a move are the changing capital requirements in New Zealand and central bank’s requirement to separate its local operations from its main business in Australia, the country’s third largest lender said. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Arun Koyyur)

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