Westpac completes Lloyds acquisition January 2, 2014 - 1:03PM Westpac has completed its $1.45 billion purchase of Lloyds Banking Group's Australian motor and equipment finance business. Westpac in October announced it would acquire Capital Finance Australia Ltd (CFAL), along with its corporate loan portfolio, from the British bank. CFAL has a motor vehicle finance book of $3.9 billion, an equipment finance book of $2.9 billion, and a corporate loan portfolio of $1.6 billion. Westpac chief financial officer Phil Coffey on Thursday said the deal had now been finalised, and the new businesses would complement existing St George and Westpac Institutional Bank operations.