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Westpac Banking Corp

WBC.AX

Latest Trade

20.70AUD

Change

0.24(+1.17%)

Volume

10,581,813

Today's Range

20.47

 - 

20.78

52 Week Range

19.23

 - 

27.12

As of on the Australian Stock Exchange Ltd ∙ Minimum 15 minute delay

Latest Developments

Westpac Says Expect To Remain Well Capitalised Under New Capital Framework

Nov 30 (Reuters) - Westpac Banking Corp <WBC.AX>::WESTPAC NOTES APRA'S RELEASE OF ITS FINAL CAPITAL FRAMEWORK.EXPECT TO REMAIN WELL CAPITALISED UNDER NEW CAPITAL FRAMEWORK.WESTPAC IS STRONGLY CAPITALISED WITH CET1 CAPITAL RATIO OF 12.3% AT 30 SEPT.WORKING THROUGH IMPACT OF CHANGES AND EXPECT TO PROVIDE MORE DETAILS WITH 1H22 RESULTS IN MAY 2022.

Westpac Says Co And ASIC Reach Agreement On Six Regulatory Matters

Nov 30 (Reuters) - Westpac Banking Corp <WBC.AX>::WESTPAC AND ASIC REACH AGREEMENT ON SIX REGULATORY MATTERS.REACHED AGREEMENT WITH ASIC TO RESOLVE SIX SEPARATE LONGSTANDING MATTERS THROUGH AGREED CIVIL PENALTY PROCEEDINGS FILED IN FEDERAL COURT.WESTPAC AND ASIC WILL JOINTLY SUBMIT AGREED PROPOSED PENALTIES FOR EACH OF PROCEEDINGS, TOTALLING A$113 MILLION.MAJORITY OF AFFECTED CUSTOMERS HAVE BEEN COMPENSATED, AND ANY REMAINING PAYMENTS WILL BE COMPLETED AS QUICKLY AS POSSIBLE.PENALTIES HAVE BEEN SUBSTANTIALLY PROVISIONED (TOGETHER WITH ANTICIPATED LEGAL COSTS) IN WESTPAC'S FULL YEAR 2021 RESULTS.

Australia's ASIC Launches Multiple Legal Actions Against Westpac

Nov 30 (Reuters) - Australian Securities & Investments Commission::ASIC LAUNCHES MULTIPLE LEGAL ACTIONS AGAINST WESTPAC.HAS COMMENCED SIX CIVIL PENALTY PROCEEDINGS AGAINST WESTPAC IN THE FEDERAL COURT.PROCEEDINGS ALLEGE WIDESPREAD COMPLIANCE FAILURES ACROSS MULTIPLE WESTPAC BUSINESSES.WESTPAC BUSINESSES AGAINST WHOM ALLEGATIONS ARE MADE INCLUDE ITS BANKING, SUPERANNUATION AND WEALTH MANAGEMENT BRANDS, AMONG OTHERS.WESTPAC HAS ADMITTED THE ALLEGATIONS IN EACH OF THE PROCEEDINGS AND WILL REMEDIATE ABOUT A$80 MILLION TO CUSTOMERS.ASIC AND WESTPAC WILL SUBMIT TO THE COURT THAT COMBINED PENALTIES OF MORE THAN A$100 MILLION ARE APPROPRIATE.ALLEGED CONDUCT OCCURRED OVER MANY YEARS AND AFFECTED MANY THOUSANDS OF CONSUMERS.

Westpac Says Westpac NZ Accepts Findings Of Independent Risk Governance Review

Nov 25 (Reuters) - Westpac Banking Corp <WBC.AX>::WESTPAC NZ ACCEPTS FINDINGS OF INDEPENDENT RISK GOVERNANCE REVIEW CARRIED OUT BY CONSULTANCY FIRM OLIVER WYMAN.WESTPAC NZ IS WELL ADVANCED IN ADDRESSING RECOMMENDATIONS IN THE REPORT.WESTPAC NZ HAD ALSO SIGNIFICANTLY INCREASED INVESTMENT IN RISK MANAGEMENT IN RECENT YEARS.WESTPAC NZ FOLLOWED UP IMMEDIATELY ON RECOMMENDATIONS IN THE REPORT, INCLUDING RESTRUCTURING COMMITTEES.WESTPAC NZ WILL CONTINUE TO REVIEW THE COLLECTIVE SKILLS ON THE BOARD.Further company coverage: WBC.AX. ((reuters.briefs@thomsonreuters.com;)).

Westpac Partners With IDcare To Strengthen Scams Awareness And Support In Regional Communities

Nov 15 (Reuters) - Westpac Banking Corp <WBC.AX>::PARTNERS WITH IDCARE TO STRENGTHEN SCAMS AWARENESS AND SUPPORT IN REGIONAL COMMUNITIES.Further company coverage: WBC.AX. ((Reuters.Briefs@thomsonreuters.com;)).

Westpac Announces Independent Review Of Westpac Risk Governance Plan

Nov 8 (Reuters) - Westpac Banking Corp <WBC.AX>::INDEPENDENT REVIEW OF WESTPAC RISK GOVERNANCE PLAN.RELEASES LATEST INDEPENDENT REVIEWER'S REPORTS ON ITS INTEGRATED PLAN TO IMPROVE RISK GOVERNANCE.RELEASED SECOND & THIRD INDEPENDENT REVIEWER REPORTS UNDERTAKEN BY PROMONTORY AUSTRALIA, COVERING PERIOD FROM FEB 1 TO SEPT 30.REPORTS NOTE CO'S PROGRESS WITH INDEPENDENT REVIEWER CONSIDERING CO'S INTEGRATED PLAN TO BE ON TRACK.

NZ Regco Advises That Trading In Westpac Ordinary Shares Will Resume At 1013Am

Nov 1 (Reuters) - Westpac Banking Corp <WBC.AX>::ADVISES THAT TRADING IN WESTPAC ORDINARY SHARES WILL RESUME AT 10:13AM.

Westpac Announces A$3.5bn Off-Market Buy-Back

Nov 1 (Reuters) - Westpac Banking Corp <WBC.AX>::EXPECT AUSTRALIA CREDIT GROWTH EXPANDING 6.8% IN 2022.A$3.5BN OFF-MARKET BUY-BACK.MARGINS WERE DOWN IN COMPETITIVE, LOW-RATE ENVIRONMENT, AND AS FORESHADOWED, COSTS WERE MUCH HIGHER IN FY21.WHILE NOTABLE ITEMS WERE LOWER, THEY REMAIN ELEVATED AS WE CONTINUE TO WORK ON FIXING OUR ISSUES AND SIMPLIFYING OUR BUSINESS.BEGUN TO SEE BETTER MOMENTUM IN INSTITUTIONAL AND BUSINESS PORTFOLIOS..EXPECT OUR COSTS TO BEGIN REDUCING IN YEAR AHEAD FROM OUR SIMPLIFICATION AND COMPLETION OF KEY PROGRAMS IN OUR FIX PRIORITY.EXPECT THREE MORE INTERNATIONAL OFFICES TO CLOSE BY END OF 2022.AUSTRALIAN BUSINESS LOAN BOOK GROWING FOUR PER CENT IN SECOND HALF.WE EXPECT COSTS TO BEGIN REDUCING IN YEAR AHEAD.AS AT SEPT 30, COMMON EQUITY TIER 1 CAPITAL RATIO 12.32%.NEXT YEAR WE EXPECT TO REDUCE OUR COST BASE AS WE HEAD TOWARDS OUR A$8 BILLION COST TARGET.COMMITTED TO RESOLVING A NUMBER OF OUTSTANDING REGULATORY ISSUES WHERE OUR ACTIONS WERE NOT GOOD ENOUGH.EXPECT THE AUSTRALIAN ECONOMY TO EXPAND BY 7.4 PER CENT IN 2022.SEES DEMAND FOR HOUSING IS LIKELY TO REMAIN ELEVATED BUT HOME PRICE INCREASES SHOULD MODERATE TO 8% NEXT YEAR.Further company coverage: WBC.AX. ((Reuters.Briefs@thomsonreuters.com;)).

Westpac Buy-Back Will Be Conducted By An Off-Market

Nov 1 (Reuters) - Westpac Banking Corp <WBC.AX>::BUY-BACK WILL BE CONDUCTED BY AN OFF-MARKET TENDER PROCESS WHICH WILL OPEN ON WEDNESDAY, 17 NOV.BUY-BACK WILL BE CONDUCTED BY AN OFF-MARKET TENDER PROCESS.

Westpac Structures A$330M Syndicated Sustainability-Linked Loan For Estia Health

Oct 29 (Reuters) - Estia Health Ltd <EHE.AX>::STRUCTURES A$330M SYNDICATED SUSTAINABILITY-LINKED LOAN FOR ESTIA HEALTH.Further company coverage: EHE.AX. ((Reuters.Briefs@thomsonreuters.com;)).

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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