Westpac is closing down its operations in Beijing, Hong Kong, Mumbai and Jakarta, as it consolidates its international operations.

The bank announced yesterday that its international business will operate out of just three branches: Singapore, London and New York.

The bank also said it would streamline the product set offered through these branches, although it did not go into details.

It said the changes would not have a significant impact on earnings but would improve the bank’s capital efficiency by reducing risk-weighted assets by more than A$5 billion over time.

Acting Westpac Institutional Bank chief executive Curt Zuber said in a statement: “Westpac’s priority is to focus on its core Australian and New Zealand customers and to support them in areas where we have scale and capability.”