Westpac Annual Profit Falls 3%, But Upbeat on Prospects
Australia’s central bank joins global counterparts in cutting interest rates.Westpac reported a net profit of 6.99 billion Australian dollars, equivalent to US$4.59 billion, in the 12 months through September while revenue was broadly flat at A$21.
Australia's Westpac annual profit down as costs overshadow margin bump
No.2 Australian mortgage lender Westpac said on Monday annual profit dipped as costs associated with a technology overhaul outweighed an improved loan margin, but upped its final dividend and extended a share buyback,
Westpac Says Annual Profit Falls 3%, Upbeat on Prospects -- Update
Westpac, like other lenders, has benefited from an elevated interest rate environment. Westpac on Monday said its net interest margin--a key profitability indicator which excludes Notable Items, Treasury and Markets--was 1.95% in its most recent year, down just 1 basis point on fiscal 2023.
Westpac Profit Tops Estimates as Bank Increases Share Buyback
Westpac Banking Corp.’s profit beat estimates as higher interest rates buoyed the bank’s margins and handed investors an additional buyback worth A$1 billion ($660 million) as well as a special dividend.
Australia's Westpac falls as higher expenses weigh on bottom line
Westpac Banking Corp, Australia's third largest lender by market value, said on Monday that its annual profit fell as expenses stemming from a technology upgrade blew out, sending its shares lower. The stock fell as much as 2.
Westpac's annual profit down 3 per cent to $7 billion
Westpac's full-year profit has dropped 3 per cent to around $7 billion. It was the last profit results day for CEO Peter King, who will hand over the reins in December to Anthony Miller, the current head of Business and Wealth.
Westpac Banking: Final Director Shareholding Update
Westpac Banking (AU:WBC) has released an update. Nora Lia Scheinkestel, a former director at Westpac Banking Corporation, has disclosed her ...
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Westpac's Minimal Support for Rescue Helicopter
Westpac may have recorded a 7-billion-dollar profit in its latest financial accounts, released yesterday, but its ...
Westpac Unfairly Targeting Kiwi Farmers
Westpac’s new climate targets will require Kiwi farmers to reduce their emissions to 0.75 tonnes of CO2-equivalent per tonne of milk. At the same time, they’re asking their Australian farming ...
Jarden Reaffirms Their Hold Rating on Westpac Banking (WEBNF)
In a report released on November 5, Carlos Cacho from Jarden maintained a Hold rating on Westpac Banking (WEBNF – Research Report), with ...
Westpac board takes gender hit as two female directors exit
Westpac’s gender diversity push has taken a hit at the boardroom level, with two of its four female directors to depart at ...
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Earnings Beat: Westpac Banking Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Westpac Banking Corporation (ASX:WBC) came out with its full-year results last week, and we wanted to see how the business ...
Westpac set for new era as CEO Peter King steps down
Peter King (pictured above left), delivering his final annual result as CEO of Westpac, praised the bank’s strong footing and ...
Westpac Banking Corporation (WEBNF) Q4 2024 Earnings Call Transcript
Westpac Banking Corporation ( OTCPK:WEBNF) Q4 2024 Results Conference Call November 3, 2024 6:00 PM ET Justin McCarthy - General Manager of Investor Relations Peter King - CEO, MD & Director Michael ...
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RBA Set to Hold Key Rate
Today’s must-reads: • RBA seen holding key rate • Westpac’s profit beats • Student loans to be cut Australia’s central bank ...
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Two Westpac directors leave after just three years on coveted board
The two directors chairing Westpac’s risk and remuneration committees are stepping down after just one term – a relatively ...