Westpac Form 6-K Summary (11/03/2025)

Westpac announced the divestiture of its $21.4 billion RAMS mortgage portfolio to a consortium including Pepper Money, KKR, and PIMCO.

• Transaction Timing: Completion targeted for 2H26, subject to regulatory approvals.
• Financial Outcome: Sold at a slight premium to gross loan value, but an expected loss on sale after adjustments.
• Capital Impact: Expected to boost Westpac’s CET1 capital ratio by approximately c.20 bps.

This sale reflects a strategic focus, though investors must weigh the immediate expected loss ag