In one of my few forays into fact checking (I do not pretend to be a
professional journalist) I have spoken to a few people in and around
BankWest over the last few days. They have all been confident that there
is no sale process in the wind. A couple of them are in areas that
would be crucial in the event that there was to be any movement in this
area, so I can be fairly confident in saying it isn’t going to happen –
at least, it is not in the works now.
The last piece I did on this highlighted the issues with it. In my opinion, short of the relevant Act being amended, it is unlikely that BankWest will be sold to anyone other than another (non-Australian) bank. Operationally, the purchase by an Australian bank just makes no sense.
I also cannot see the WA state government agreeing to amend the legislation any time soon – so BankWest will remain.