[ad_1]
FILE PHOTO: A pedestrian looks at his phone as he pbades in front of a logo of the Australian company Westpac Banking Corp. located outside a branch office in central Sydney, Australia on November 5, 2018 REUTERS / David Gray
(Reuters) – Australian bank Westpac Banking Corp. said Tuesday it was ceasing to provide personal financial advice through a sales contract with Viridian Advisory, in an effort to cut costs and simplify its structure.
The exit will include the realignment of the activities of Westpac BT Financial Group in its consumer and business divisions, the lender said in a statement. He did not provide any transaction value for the agreement.
The changes should be positive for earnings per share in 2020, Westpac added.
Reportage of Ambar Warrick in Bengaluru; Edited by Richard Chang
Source link
