The Westpac Group (ASX:WBC) hit with operational risk capital requirement of $500m

Company News

by Rachael Jones

The Westpac Group (ASX:WBC) released an announcement today saying they acknowledge APRA’s request to increase its operational capital requirement to $500 million.

This is in response to the Australian Transaction Reports and Analysis Centre’s Statement of Claim.

The bank say they are committed to cooperating with APRA in all aspects of its investigation and review.

Shares in the Westpac Group (ASX:WBC) are trading 0.64 per cent lower at $24.69.