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.
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 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 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.
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.
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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 ...
Australia's Westpac annual profit down as costs overshadow margin bump
Westpac annual profit declines 3% but beats analysts' forecasts Company increases share buyback by A$1 bln Bank declares ...
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 set for new era as CEO Peter King steps down
Peter King (pictured above left), delivering his final annual result as CEO of Westpac, praised the bank’s strong footing and ...
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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Outgoing Westpac CEO reports profit slide in FY24
Westpac’s NPAT saw a 3 per cent decrease in FY24, amid one of its “strongest” ever balance sheets. Westpac has posted a net ...
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’s departing King sees two pain points for Australia
Peter King leaves having steered Westpac through an impressive turnaround. But he sees two problems Australia needs to solve.