HBOS Australia yesterday refused to comment on a report the company’s British parent was considering an option to sell its Perth-based subsidiary, Bankwest. HBOS’s London-listed scrip slumped to a 10-year low last night, prompting speculation among British bank analysts that the company may resort to selling non-core assets to restore its capital ratios. Banking sources in London told BusinessDaily this week that HBOS might be prepared to sell Bankwest "at the right price" if the weakening share price continued to undermine the chance of completing the big capital raising. In the past HBOS has demonstrated a willingness to offload its non-British banking assets including its former Kiwi subsidiary Countrywide Bank which it sold in 1998. Bankwest is Australia’s sixth largest bank with a loan asset base of $45 billion and total deposits of almost $37 billion. National Australia Bank and Commonwealth Bank are viewed as potential acquirers of Bankwest. Read More