Westpac Banking (AU:WBC) has released an update.

Westpac Banking has announced a deal to sell its auto finance loan portfolio to Resimac Group Limited, with the transaction expected to be finalized in the first half of 2025 and valued between $1.4 and $1.6 billion. This sale marks the completion of Westpac’s exit from the auto finance sector, a process that began with a partial sale in 2021 and is not anticipated to significantly affect the company’s financial statements.

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