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Westpac's Financial Milestones: Profit Surge and Strategic Sale
Understanding Westpac's $7 Billion Profit and RAMS Divestment
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Westpac Banking Corporation has reported a robust full-year profit of $7 billion, underscoring its strong financial performance in the current economic climate.
In a strategic move, the bank has also announced the sale of its RAMS mortgage business for $21.4 billion, a decision that aligns with its focus on streamlining operations and enhancing shareholder value.
The substantial profit reflects Westpac's effective cost management and revenue growth strategies. The sale of RAMS, a mortgage broker business, indicates a strategic shift towards core banking operations and away from non-core assets. This divestment is expected to improve the bank's capital position and allow it to focus on areas with higher growth potential.
For customers, this move may lead to changes in the mortgage market landscape. While RAMS will continue to operate under new ownership, the sale could result in shifts in mortgage products and services. Borrowers should stay informed about any changes and consider how they might impact their existing or prospective mortgage arrangements.
In summary, Westpac's announcement of a $7 billion profit and the sale of its RAMS mortgage business marks a significant development in the Australian banking sector. These moves reflect the bank's strategic priorities and have implications for borrowers and the broader financial market.
Published:Friday, 13th Feb 2026 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
The Australian Prudential Regulation Authority (APRA) has announced a significant policy change aimed at curbing high-risk lending practices within the housing market. Effective from 1 February 2026, APRA will implement a cap limiting banks to issuing no more than 20% of new home loans with debt-to-income (DTI) ratios of six times or higher. This measure applies to both owner-occupier and investor loans, excluding new housing developments. - read more
Westpac Banking Corporation has reported a robust full-year profit of $7 billion, underscoring its strong financial performance in the current economic climate. In a strategic move, the bank has also announced the sale of its RAMS mortgage business for $21.4 billion, a decision that aligns with its focus on streamlining operations and enhancing shareholder value. - read more
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