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Westpac Banking Corp (WBK)

WBK on New York Consolidated

17.35USD
17 May 2019
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Mon, May 6 2019

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Australia's Westpac posts worst half-year profit since 2013

SYDNEY Australia's second-biggest lender Westpac Banking Corp posted its lowest half-year profit since 2013 on Monday, as interest income shrank along with the housing market, and costs rose as the bank compensated customers for botched service.

UPDATE 3-Australia's Westpac posts worst half-year profit since 2013

* Westpac H1 cash profit A$3.30 bln vs A$3.52 bln analyst view

Westpac first-half profit falls 22 pct, misses forecast

May 6 Australia's No. 2 lender, Westpac Banking Corp, posted a 22 percent fall in first-half cash earnings on Monday, hit by a surge in customer refunds following a landmark inquiry.

UPDATE 2-Australia's Westpac flags $359 mln provision for refunds, sees profit hit

* Half-year cash earnings to be hit by an additional A$357 mln (Recasts, adds background)

Australia's Westpac flags $434 mln interim earnings hit from remediations

April 30 Australia's Westpac Banking Corp on Tuesday flagged a total impact of A$617 million ($434 million) to its first-half cash earnings from provisions for refunding wronged customers.

UPDATE 1-Australia's Westpac flags $184 mln earnings hit from customer refunds

March 25 Australia's Westpac Banking Corp said on Monday its first-half cash earnings would fall about A$260 million ($184.03 million) on account of provisions for customer refunds in the wake of an inquiry into financial sector wrongdoing.

Australia's Westpac flags $184 mln earnings hit from customer refunds

March 25 Australia's Westpac Banking Corp said on Monday its first half cash earnings will fall about A$260 million ($184.03 million) on account of provisions for customer refunds in the wake of an inquiry into financial sector wrongdoing.

Australia's Westpac exits financial advice, takes charge to shake up wealth unit

SYDNEY Westpac Banking Corp, said on Tuesday it would exit its financial advice business, the last of Australia's top four banks to do so, as regulators increase pressure on the scandal-ridden financial sector to act in customers' best interests.

UPDATE 2-Australia's Westpac exits financial advice, takes charge to shake up wealth unit

* Retains investment platforms, private bank and retirement biz

Australia's Westpac exits personal advice, shakes up BT Financial in cost-cut bid

March 19 Australia's Westpac Banking Corp said on Tuesday it was exiting the provision of personal financial advice through a sale agreement with Viridian Advisory, in a bid to cut costs and simplify its structure.

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