市场见解

Westpac (ASX:WBC) share price dips following vehicle finance sale

The banking giant just offloaded its auto finance business.
The post Westpac (ASX:WBC) share price dips following vehicle finance sale appeared first on The Motley Fool Australia. –

The 西太银行 (ASX:WBC) share price started this morning’s session in the red. This comes after the bank announced it will sell its vehicle dealer finance and novated leasing businesses to Angle Finance, a portfolio company of US private equity firm Cerberus Capital Management.

Westpac shares are currently down 0.66% to $25.73 at the time of writing.

Westpac offloads $1 billion loan book

As apart of the transaction, Westpac have agreed to transfer auto dealer and introducer agreements together with wholesale dealer loans of approximately $1 billion, strategic alliance agreements with vehicle manufacturers, and novated lease origination capability and related agreements.

Westpac will also retain its existing retail auto loans of around $10 billion originated by the businesses being transferred.

The sale is still subject to the final value of the portfolio transferred, however Westpac believes it will generate accounting gain on completion. The divestiture also is expected to add around 6 basis points to the company’s common equity tier 1 (CET-1) capital ratio. As of 31 March 2021, Westpac had a CET-1 capital ratio of 12.34%.

Westpac chief executive Jason Yetton commented::

This sale brings certainty for our customers, new opportunities for our people and continues the progress we are making on becoming a simpler bank.

Angle Auto Finance is committed to the Auto Finance industry and will provide the capability and strategic focus to grow and improve the business.

The announcement reports that final completion of the sale is expected for the end of the calendar year.

About the Westpac share price

Westpac shares come into Monday’s session after finishing last week 2.67% in the red. Over the previous month, the Westpac share price has fallen 2.8% at the time of writing, and over the year-to-date the company’s share price has gained around 31%.

On current prices, Westpac has a market capitalisation of around $94 billion and the company’s stock has a price-to-earnings ratio (P/E) of around 22.

The post Westpac (ASX:WBC) share price dips following vehicle finance sale appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

ASX 200 Weekly Wrap: Share market breaks 5 week winning streak

Top brokers name 3 ASX shares to buy next week

ASX 200 drops again, Westpac falls, Transurban down

ASX 200 down 0.25%: Woolworths sinks, Afterpay jumps, Westpac NZ update

Westpac (ASX:WBC) share price on watch after NZ update

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!