Westpac completes sale of Strategic Alliances Business

ASX
Release


3 August 2021

WESTPAC GROUP COMPLETES SALE OF STRATEGIC ALLIANCES (“VENDOR
FINANCE”) BUSINESS

Following the announcement on 21 August 2020 of Westpac’s intention to sell its Vendor
Finance business to Angle Finance
1
, Westpac Group today announced it has completed
the sale.

The sale has a negligible impact on Westpac’s balance sheet and capital ratios. A small
accounting loss was recognised in FY20.

Chief Executive, Specialist Businesses & Group Strategy, Jason Yetton, said “Westpac
is pleased to have successfully executed the transaction which will help Australian
businesses continue to finance small ticket equipment loans to grow and be successful
and help us become a simpler bank.”



For further information:

Lisa Parrett Andrew Bowden
Senior Manager Media Relations Head of Investor Relations
0432 933 796 0438 284 863



This document has been authorised for release by Tim Hartin, General Manager &
Company Secretary.




1
Angle Finance is a portfolio company of Cerberus Capital Management, L.P.
Level 18, 275 Kent Street
Sydney, NSW, 2000