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Westpac Banking Corp (WBCPB.AX)

WBCPB.AX on Australia Stock Exchange

100.82AUD
16 Sep 2014
Change (% chg)

$-0.03 (-0.03%)
Prev Close
$100.85
Open
$100.85
Day's High
$100.85
Day's Low
$100.80
Volume
10,923
Avg. Vol
--
52-wk High
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52-wk Low
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Latest Key Developments (Source: Significant Developments)

Westpac Banking Corp responds to budget announcements by the Australian government
Tuesday, 9 May 2017 09:22pm EDT 

May 10 (Reuters) - Westpac Banking Corp ::Budget announcements impacting major banks-WBC.AX.Liabilities subject to levy will include items such as corporate bonds, commercial paper, certificates of deposit, tier 2 capital instruments."Currently working through details and will require further information to confirm specifics of calculation for Westpac".It is currently uncertain what financial impact for Westpac (as a result of the budget announcements) will be.Consultation on levy is expected to take place soon.  Full Article

Westpac Banking Corp H1 cash earnings up 3 percent
Sunday, 7 May 2017 05:52pm EDT 

May 8 (Reuters) - Westpac Banking Corp :HY cash earnings $4,017 million, up 3%.HY reported net interest margin decreased 4 basis points to 2.05%.HY statutory net profit $3,907 million, up 6%.94 cents per share interim, fully franked dividend."We remain positive about Australian housing market, although we expect price growth to moderate through 2017"."2017 financial system credit is expected to grow at around 5.5%".H1 2017 Common Equity Tier 1 Ratio (APRA BASEL III) 9.97 percent versus 10.47 percent."Housing credit growth is likely to ease a little as demand slows".HY net interest income $7,693 million versus $7,653 million.H1 2017 cash earnings return on average ordinary equity 13.95 percent versus 14.15 percent last year.  Full Article

NZX Regulation places trading halt on Westpac ordinary shares and debt securities
Sunday, 7 May 2017 04:39pm EDT 

May 8 (Reuters) - NZX Regulation::Placed trading halt on Westpac Banking Corporation ordinary shares and debt securities.  Full Article

ACCC denies authorisation for banks to collectively bargain with Apple, boycott Apple Pay
Thursday, 30 Mar 2017 07:05pm EDT 

Australian Competition And Consumer Commission- : ACCC denies authorisation for banks to collectively bargain with Apple and boycott Apple Pay . "ACCC is not satisfied, on balance, that the likely benefits from the proposed conduct outweigh the likely detriments" . "Concerned that the proposed conduct is likely to reduce or distort competition in a number of markets" .Says banks sought authorisation to bargain with Apple for access to near-field communication (NFC) controller in Iphones, reasonable access terms to App store.  Full Article

Westpac Banking enters into enforceable undertaking with ASIC
Tuesday, 14 Mar 2017 09:17pm EDT 

Westpac Banking Corp : Westpac enters into an enforceable undertaking with ASIC-WBC.AX . Entered into an enforceable undertaking with Australian Securities And Investments Commission . Westpac has also agreed to make a $3 million community benefit payment to financial literacy Australia . Enforceable undertaking following investigation into wholesale spot foreign exchange (fx) trading activity between jan 2008 and june 2013 . Payment to financial literacy australia to assist in addressing financial capability of vulnerable people, including women experiencing family violence, elderly and youth at risk .As part of enforceable undertaking, co will continue to progress its program of strengthening processes in spot FX trading business.  Full Article

Westpac Banking Corp says deputy CEO Phil Coffey has decided to retire
Monday, 13 Mar 2017 10:17pm EDT 

Westpac Banking Corp : deputy chief executive officer Phil Coffey has decided to retire . Coffey will leave Westpac Group on 31 may 2017 .Coffey will continue in his role as chairman of Westpac Bicentennial Foundation.  Full Article

Westpac Banking says CET 1 capital ratio 9.26 pct at 31 Dec
Monday, 20 Feb 2017 04:12pm EST 

Westpac Banking Corp : Westpac's common equity tier 1 (CET1) capital ratio was 9.26% at 31 December 2016, down 22 basis points from 30 September 2016 .Total RWA increased $1.4 billion (0.3%) this quarter.  Full Article

Hotel Property Investments announces expected distribution, refinancing and property revaluation
Wednesday, 21 Dec 2016 05:20am EST 

Hotel Property Investments Ltd : Expected distribution, refinancing and property revaluation . Total expected distribution for half year of 22.2 cents . Has refinanced its outstanding loan facilities, entering into new 3 and 5 year loans with Commonwealth Bank And Westpac . Aggregate limit of facilities is $285 million, with $247.3 million drawn or committed at 21 december 2016 . Expected distribution of 9.7 cents per stapled security from trading operations for half year ending 31 december 2016 . Board amended its valuation policy, it will obtain independent valuations for at least 50% of properties each year .Commissioned independent valuations for property portfolio; total valuation at $644.8 million, an increase of $56.5 million.  Full Article

Westpac Banking Corp says asset quality expected to remain sound in year ahead
Thursday, 8 Dec 2016 08:41pm EST 

Westpac Banking Corp : Asset quality is expected to remain sound in year ahead . Competition is also expected to remain intense from both existing competitors and new entrants, particularly in so-called fintech space . Growth is a little uneven across states . Growth in services sector, rise in residential & infrastructure investment & improved net exports gains offset second order effects from slowdown in mining investment . It is likely that additional stress will emerge in sectors and regions undergoing some structural change . Outlook for Australia and New Zealand remains positive .Global environment seems particularly volatile at present, domestic fundamentals are sound.  Full Article

Westpac Banking Corp says asset quality expected to remain sound in year ahead
Thursday, 8 Dec 2016 06:25pm EST 

Westpac Banking Corp : Asset quality is expected to remain sound in year ahead . Competition is also expected to remain intense from both existing competitors and new entrants, particularly in so-called fintech space . Growth is a little uneven across states . Growth in services sector, rise in residential & infrastructure investment & improved net exports gains offset second order effects from slowdown in mining investment . It is likely that additional stress will emerge in sectors and regions undergoing some structural change . Outlook for Australia and New Zealand remains positive .Global environment seems particularly volatile at present, domestic fundamentals are sound.  Full Article

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BRIEF-Westpac Banking Corp comments on impact of new major bank tax on co

* updated market on new major bank budget deficit repair levy ('levy') announced in 2017 federal budget