Capital Calls: Westpac sets lofty M&A-style cost-cutting goal

FILE PHOTO – A combination of photographs shows people using automated teller machines (ATMs) at Australia’s “Big Four” banks – Australia and New Zealand Banking Group Ltd (bottom R), Commonwealth Bank of Australia (top R), National Australia Bank Ltd (bottom L) and Westpac Banking Corp (top L). REUTERS/Staff/File photo

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CUT TO VICTORY. Australia’s big four banks are too dominant to be major acquirers. That’s not stopping A$95 billion ($73 billion) Westpac (WBC.AX) from cherry-picking one element of the M&A playbook. On Monday the country’s second-largest lender unveiled, along with decent first-half earnings, a

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