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Westpac is ground zero for banking sector’s pressure test

The Australian Financial Review (AFR) •
November 02, 2026 • 12:56 AM
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Anthony Miller’s plan for Westpac’s next era is smart. But executing it when Australia faces the broadest economic slowdown in two decades won’t be easy.

Westpac is ground zero for banking sector’s pressure test

All the signs suggest Anthony Miller has the right plan to fix Westpac’s sins of the past, and set the country’s second-biggest bank up for its next era.

But that plan is about to collide with the reality of what may become the broadest economic slowdown the Australian economy has experienced in almost two decades, outside the COVID recession that wasn’t.

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