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 FY Profit Down; Expands Share Buyback Program By A$1 Bln
Australia's Westpac Banking Corp. (WBC.AX, WBK) reported that its net profit attributable to owners of the company for fiscal year
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.
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 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 sees better economic times ahead as bank posts $7bn profit, announces $1bn share buyback
Banking major Westpac is seeing signs Australia’s economy has turned a corner after a gloomy year, announcing plans to plough ...
Westpac profit down 3%, but dividend up 4 cents
Westpac Banking Corporation (ASX:WBC) has announced its full-year financial results for 2024, with dividend bump and NPAT ...
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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 ...
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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 ...
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, ...
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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 ...
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 ...
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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 ...