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Westpac NZ weighs up earthquake impact

File photo
File photo

Westpac Banking Corp said its New Zealand unit could see credit losses of between $30 million and $100 million due to last month's earthquake in Christchurch.

Westpac said bad debt provisions can be absorbed by the unit's expected profit and as such Westpac New Zealand Ltd's tier I capital will not be impacted.

- NZPA

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