Speculation continues on BankWest sale

Speculation is again rising that the Perth-based regional bank is up for grabs with majority shareholder Bank of Scotland set to sell its major stake.

A senior office-bearer for the Australian Competition and Consumer Commission notes that the body would most likely block the sale of BankWest to one of the major banks.

The dilemma facing the majors is that most have an established presence in WA however it is worth noting that this did not stop the ACCC from greenlighting the Commonwealth Bank acquisition of the Colonial State Bank which had purchased Tasmania’s Trust Bank.

St George Bank, Amp Banking and ANZ Bank are amongst those tipped to be interested with ANZ having the best chance amongst the majors based on its WA presence next to that of its competitors.

Australian Financial Review 25/6/01