Westpac Banking Corp

WBC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$36.00	Qyzr	Dsrmcfny

Westpac Turnaround Continues on Loan Growth and Cost Containment

Nathan Zaia

Nov 6, 2023

Business Strategy and Outlook

Westpac Bank is the second-largest of Australia’s four major banks. The bank provides a range of banking and financial services to retail and business customers, including mortgages, consumer finance, credit cards, business loans, and term deposits. Following the divestment of its financial planning and advice business, even its wealth arm--BT Financial Group--is likely to go at some stage. Under new leadership, most nonbanking units have been divested, including general, life, and mortgage insurance.

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