The substantial profit reflects Westpac's effective cost management and revenue growth strategies. The sale of RAMS, a mortgage broker business, indicates a strategic shift towards core banking operations and away from non-core assets. This divestment is expected to improve the bank's capital position and allow it to focus on areas with higher growth potential.
For customers, this move may lead to changes in the mortgage market landscape. While RAMS will continue to operate under new ownership, the sale could result in shifts in mortgage products and services. Borrowers should stay informed about any changes and consider how they might impact their existing or prospective mortgage arrangements.
In summary, Westpac's announcement of a $7 billion profit and the sale of its RAMS mortgage business marks a significant development in the Australian banking sector. These moves reflect the bank's strategic priorities and have implications for borrowers and the broader financial market.
Published: Friday 13th February, 2026
Please Note: If this information affects you or is relevant to your circumstances, seek advice from a licensed professional.
