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    APT   AU000000APT1

AFTERPAY LIMITED

(APT)
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Afterpay : to Offer Bank Accounts in Partnership With Westpac

10/19/2020 | 04:34pm EDT

By Stuart Condie

SYDNEY--Afterpay Ltd. will offer bank accounts to its 3.3 million buy-now-pay-later customers in Australia as part of a partnership with Westpac Banking Corp., the country's second largest lender.

The company on Tuesday said the arrangement would bring risk management and processing cost benefits. It could eventually facilitate new revenue streams without the need for Afterpay to develop traditional banking or credit products, Afterpay said.

Westpac said that Afterpay was the first partner on the lender's new digital platform, which allows non-banks to offer their customers banking services.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

10-19-20 1834ET

Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 3.68% 103.52 End-of-day quote.-12.27%
WESTPAC BANKING CORPORATION -1.13% 26.29 End-of-day quote.35.73%
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More news
Financials
Sales 2021 939 M 725 M 725 M
Net income 2021 -80,1 M -61,8 M -61,8 M
Net cash 2021 510 M 394 M 394 M
P/E ratio 2021 -388x
Yield 2021 -
Capitalization 29 974 M 23 064 M 23 123 M
EV / Sales 2021 31,4x
EV / Sales 2022 19,4x
Nbr of Employees 930
Free-Float 65,1%
Chart AFTERPAY LIMITED
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Afterpay Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends AFTERPAY LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 123,68 AUD
Last Close Price 103,52 AUD
Spread / Highest target 68,1%
Spread / Average Target 19,5%
Spread / Lowest Target -64,3%
EPS Revisions
Managers and Directors
NameTitle
Anthony Mathew Eisen Co-CEO, Executive Director & Managing Director
Nicholas David Molnar Co-CEO, Executive Director & Managing Director
Rebecca Lowde Chief Financial Officer
Elana Rubin Independent Chairman
Dana Stalder Independent Non-Executive Director
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