by Amruth Sundarkumar | May 9, 2022 | Banks
Australia’s Westpac reported a 71% YoY jump in its H1 2022 cash earnings to AUD 3.1bn ($2.2bn). The bank’s net interest income was down 1% to AUD 8.3bn ($5.8bn), while fee and trading incomes rise 8% and 24% respectively to AUD 845mn and AUD 343mn ($593mn...
by Amruth Sundarkumar | Mar 9, 2022 | Banks
Australian lender Westpac has invited bids for its wealth management unit BT Panorama, worth ~AUD 1.5bn ($1.1bn) as per sources. Indicative offers are expected at the end of April. Westpac is following a strategy to narrow its focus by exiting wealth, pensions, life...
by Amruth Sundarkumar | Nov 1, 2021 | Banks
Australia’s third largest bank Westpac reported earnings for the full year ended September with statutory net profit up 138% YoY to A$5.46bn ($4.1bn) and cash earnings up 108% YoY to A$5.35bn ($4.01bn). Despite the strong YoY growth, cash earnings missed...
by Amruth Sundarkumar | Oct 12, 2021 | Banks
Australian banking major Westpac said that it will take a one-off charge of AUD 1.3bn ($956mn) against its H2 profits after quitting energy trading and provisions to ‘pay out customers seeking remediation for wrongly charged fees, and costs associated with the...
by bondevalue | May 3, 2021 | Investment Grade Bonds
Australia’s Westpac reported strong results with first half 2021 net profits up 189% YoY to A$3.4bn ($2.6bn) and cash earnings at A$3.5bn ($2.7bn), up 256%. The rise in cash earnings also contributed to an increase in their CET1 ratio to 12.34%, up 153bp as per the...
