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 Annual Profit Falls 3%, But Upbeat on Prospects
The lender said its annual net profit fell by 3%, but signaled hopes that demand for housing and business credit will rise in 2025 as Australia’s central bank joins global counterparts in cutting interest rates.
Westpac Says Annual Profit Falls 3%, Upbeat on Prospects -- Update
Westpac reported a net profit of 6.99 billion Australian dollars (US$4.59 billion) in the 12 months through September while revenue was broadly flat at A$21.59 billion. Directors of the company declared a final dividend of 76 Australian cents a share,
Australian lender Westpac's annual profit falls 3%, increases buyback
Australia's Westpac Banking Corp reported a 3% fall in annual profit on Monday due to rising costs and intense competition in the mortgage market, while it increased its buyback program by A$1 billion.
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.
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.
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 ...
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Westpac's Minimal Support for Rescue Helicopter
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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 ...
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.
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 ...
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 ...
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, ...
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 ...
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 ...
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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 ...
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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 ...