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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Afterpay Limited    APT   AU000000APT1

AFTERPAY LIMITED

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

10/19/2020 | 04:34pm EST

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 0.62% 95.81 End-of-day quote.227.22%
WESTPAC BANKING CORPORATION -1.34% 20.61 End-of-day quote.-14.94%
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More news
Financials
Sales 2021 943 M 695 M 695 M
Net income 2021 16,0 M 11,8 M 11,8 M
Net cash 2021 287 M 211 M 211 M
P/E ratio 2021 1 156x
Yield 2021 -
Capitalization 27 287 M 20 071 M 20 093 M
EV / Sales 2021 28,6x
EV / Sales 2022 18,3x
Nbr of Employees 665
Free-Float 67,3%
Chart AFTERPAY LIMITED
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Technical analysis trends AFTERPAY LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 94,84 AUD
Last Close Price 95,81 AUD
Spread / Highest target 46,1%
Spread / Average Target -1,01%
Spread / Lowest Target -68,7%
EPS Revisions
Managers
NameTitle
Anthony Mathew Eisen Chief Executive Officer, Executive Director & MD
Elana Rubin Independent Chairman
Frerk-Malte Feller Global Chief Operating Officer
Rebecca Lowde Chief Financial Officer
Nicholas David Molnar Executive Director & Global Chief Revenue Officer
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