Westpac confirms the RAMS portfolio is now sold to a group made up of Pepper Money, KKR and funds managed by PIMCO. The $15.4 billion transaction is structured to bolster Westpac’s balance sheet and sharpen its operational focus.
The deal shifts a large slice of RAMS-branded residential mortgages off Westpac’s books and into the hands of specialist and institutional investors. Westpac says the sale is part of a broader push to streamline its operations, reducing non-core or higher-complexity assets.
The bank expects its common equity Tier 1 capital ratio to lift by around 23 basis points once the divestment flows through. The higher Tier 1 capital ratio gives Westpac more regulatory headroom that can support resilience and future growth decisions.
