A woman exits the ground floor of an office building with Westpac logo amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020.
"Any failure to successfully divest businesses means that we may have sustained exposure to higher operating costs and to the higher inherent risks in those businesses," Westpac had told the market during its interim results in May.
The bank would be starting a new brand campaign in the months ahead in both the countries in a move to improve its standing in local markets, Anthony Miller, CEO of Westpac business and wealth division said in a statement.
The company said its pacific business was continuing to see growth along with operational recovery post COVID, which presented Westpac an option to invest in the operations.
($1 = 1.5863 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Additional Reporting by Ayushman Ojha; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons:
Loren Elliott, Anthony Miller, Rishav Chatterjee, Ayushman Ojha, Rashmi
Organizations:
Westpac, Central Business District of, REUTERS, Kina Securities, Thomson
Locations:
Central Business District of Sydney, Australia, Fiji, Papua New Guinea, Bengaluru