Australian banking group has started inviting bids for its wealth management unit BT Panorama, according to newswire Bloomberg.
The report said that the bank is allowing interested suitors access to confidential information about the business.
A deal could be worth as much as A$1.5bn (£840m, $1.1bn, €1bn).
Westpac is reportedly narrowing its focus with a plan to exit wealth, pensions, life insurance and auto finance, which were combined into a specialist businesses division in May 2020 with a view to sell them.
The bank declined to comment on the speculation.
