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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 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 records 3% fall in net profit for FY24
Westpac Banking Corporation (ASX:WBC) has reported a final year net profit after tax (NPAT) of $6.99 billion for the 2024 fiscal year- a fall of 3% compared to the number for FY23. There was positive news: The bank registered an increase of 2% in its net interest income for the year (to $18.
Australian Lender Westpac's Annual Profit Falls 3%, Increases Buyback
Australia's third largest lender by market value reported net profit attributable of A$6.99 billion ($4.61 billion) for the year ended Sept. 30, compared with A$7.20 billion reported last year and an LSEG estimate of A$6.50 billion.
2d
on MSN
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 ...
Armed robbery in Revesby
1d
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 ...
NewsWire on MSN
2d
Fewer Westpac customers on hardship provisions
Westpac says the peak of the cost-of-living crisis might have passed, noting the number of mortgage holders that need help ...
2d
Westpac sees better economic times ahead as bank posts $7bn profit, announces $1bn share buyback
Westpac is targeting $1bn in share buybacks after the bank delivered a $7bn full year profit, meeting analyst expectations.
13d
Australia's Westpac Appoints Peter Herbert as Acting CEO of Business Segment
(Reuters) - Australia's Westpac said on Thursday Peter Herbert will be appointed as acting chief executive for its business ...
1d
Morgan Stanley Keeps Their Hold Rating on Westpac Banking (WEBNF)
Morgan Stanley analyst Richard Wiles maintained a Hold rating on Westpac Banking (WEBNF – Research Report) today and set a price target ...
1d
Westpac Banking Full Year 2024 Earnings: EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Looking ahead, ...
health.economictimes.indiatimes
1d
Healthcare, banking stocks boost Australia shares ahead of RBA decision
Healthcare: On the local bourse, the heaviest sub-index rose about 0.8%, with the country's third-largest lender Westpac ...
1d
UBS Remains a Hold on Westpac Banking (WEBNF)
In a report released today, John Storey from UBS maintained a Hold rating on Westpac Banking (WEBNF – Research Report), with a price ...
The Australian Financial Review
3h
Two Westpac directors leave after just three years on coveted board
Other directors who have been on the
Westpac
board for longer than Ms Scheinkestel and Ms Exel – former Equifax chief ...
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