Business
Is the Westpac (ASX:WBC) NZ demerger good news for its share price?
The Westpac Banking Corp (ASX: WBC) share price has come under pressure this week following a couple of announcements.
The banking giant’s shares have continued their decline on Thursday and are currently down 0.5% to $24.05.
What did Westpac announce?
Earlier this week Westpac announced that the Reserve Bank of New Zealand (RBNZ) has instructed its Westpac New Zealand business to commission two independent reports concerning its risk governance and liquidity risk management.
It also told Westpac that its New Zealand business would have to hold additional liquid assets until the central bank is satisfied that the previously required…
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