Westpac PNG and Fiji are intact, following a string of sales of Westpac operations in a number of Pacific Island countries.
Westpac operations in Cook Islands, Samoa, Solomon Islands and Tonga were sold to BSP in 2015. On July 1st, Westpac completed the sale of its banking operations in Vanuatu, to Vanuatu’s Bank South Pacific, a subsidiary of Bank of South Pacific.
According to Westpac PNG management, the banker had sold its operations in these markets to focus on its flagship Pacific markets of PNG and Fiji.
Westpac remains committed to PNG as the first bank in the country, and to Fiji as the longest serving bank.
According to Westpac PNG, its customers are not affected in any way when traveling or doing business internationally as they can use ATMs and credit/debit cards as usual.
The banker said Westpac Pacific now forms part of Westpac International and allows Westpac PNG to assist businesses following the growing trade routes from PNG into Asia and beyond.