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Home > Headlines > Australia's Westpac says 'worst is behind us', finance demand for M&A stronger

Headlines

Australia's Westpac says 'worst is behind us', finance demand for M&A stronger

Published by Global Banking and Finance Review

Posted on May 6, 2025

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(Corrects CEO's quote in headline to 'worst is behind us', not 'worst is over')

SYDNEY (Reuters) -The CEO of Australia's second-largest mortgage lender Westpac said on Tuesday that the economy was showing signs of recovery and financing demand for M&A was stronger.

"All the data in terms of 90-day plus stress levels, across the consumer division, across the business bank, just indicating that the worst is behind us," Anthony Miller said at the Macquarie Australia conference.

He added the financing demand pipeline for mergers and acquisitions was "larger than we thought we'd see".

(Reporting by Christine Chen in Sydney; Editing by Christian Schmollinger)

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