GENERAL NEWS
MAJOR lender Westpac reported a $1.8 billion third-quarter profit, in line with consensus, but growing expenses saw its share price fall by more than 3%...
“Expense growth was driven by inflationary pressures, including higher supplier costs, wages and salaries, and investment in the group’s technology and...
Westpac said it remains “committed to cost discipline”. It recently slashed about 750 jobs “with recent cost reset actions driving a full time equivalent employee reduction of...
“The quarter was characterised by resilient operating revenue, assisted by ongoing disciplined margin management. Inflationary pressures impacted expenses which...
Its share price fell 3% following the results announced, closing at $20.62. Core common equity tier 1 capital fell by...
There was a modest increase in stressed assets to 1.16% of total committed exposures, a rise of six basis points from March. This was reflected in...
The group’s net interest margin (NIM) for the third quarter was 2.06%. Excluding notable items, NIM of 1.96% was two basis points lower than the first half...
Gains related to hedging was 10 basis points, and treasury and markets income lifted two basis points to 10 basis points...
The deposit-to-loan ratio improved to 84.1% in the third quarter, supported by customer deposit growth of $8.7 billion. Loans grew $6.4 billion mainly...
Credit impairment provisions were $5.1 billion, $1.5 billion above the expected losses of the base case economic scenario.