CBA injects $400m into Bankwest
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29/01/2010 12:00:00 AM
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Fast-paced lending growth sparked by a strong recovery in Western Australia, moved CBA to cash-up Bankwest's balance sheet last month, reports the SMH.
A CBA spokesperson confirmed the lender injected $400m into Bankwest last month, which brings its capital base to $3.8bn.
"The injection brings Bankwest's capital more in line with the group's average, has no impact on the group's capital position and was also required partly due to the growth in the Bankwest business," said the spokesperson.
The money will help Bankwest cover the loans it is writing.
According to the SMH, the September quarter update revealed that Bankwest's revenue was strong, supported by growing customer numbers. CBA is set to release it interim profit report on 10 February.
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