3 Jan 2014

Westpac completes Lloyds acquisition

6:37 am on 3 January 2014

Westpac has completed a $A1.45 billion purchase of motor and equipment finance businesses from Lloyd's Banking Group.

Westpac in October announced it would acquire Capital Finance Australia Ltd) and its corporate loan portfolio from the bank.

AAP reports CFAL has a motor vehicle finance book of $A3.9 billion, an equipment finance book of $A2.9 billion, and a corporate loan portfolio of $A1.6 billion.