Original article by Richard Gluyas
The Australian – Page: 17 : 22-Apr-21
Brendan Sproules of Citigroup says Westpac could significantly reduce costs by rationalising its network of bank branches and divesting non-core assets. Westpac currently has 958 branches nationwide, but Citigroup’s modelling suggests that there is scope to reduce this to just 518. Westpac’s chief financial officer Michael Rowland will outline a cost-cutting strategy when the bank releases its interim results on 3 May.
WESTPAC BANKING CORPORATION – ASX WBC, CITIGROUP PTY LTD