Australia's Westpac Banking slips on selling auto finance loans book for $962 mln

Resimac

03/10/2024 04:01

** Shares of Westpac Banking Corp  WBC.AX  fall as much as
1.3% to A$30.710, their lowest level since Aug. 28
    ** Australia's third-largest bank set to sell its auto
finance loans book to non-bank lender Resimac Group  RMC.AX 
    ** WBC says deal for an expected value of A$1.4 bln ($962.22
million) to A$1.6 bln upon completion
    ** WBC stock up 36.6% YTD, as of last close

($1 = 1.4550 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))