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    WBC   AU000000WBC1

WESTPAC BANKING CORPORATION

(WBC)
  Report
Delayed Australian Stock Exchange  -  02:10 2022-09-23 am EDT
21.42 AUD   -1.43%
09/19MOVES-Deutsche Bank Australia taps Bailey for infra, renewables coverage
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09/14Westpac Banking Corporation Declares Ordinary Dividend for the Quarter Ending 22 September 2022, Payable on 23 September 2022
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09/14Westpac Banking Announces Ordinary Distribution on WBCPH - CAP NOTE 3-BBSW+3.20% PERP NON-CUM RED T-09-25 for the Period Ending 22 September 2022 Is Expected to Be Paid on 23 September 2022
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Australia's Westpac capital position weaker at quarter-end

08/14/2022 | 06:12pm EDT
FILE PHOTO: A pedestrian looks at his phone as he walks past a logo for Australia's Westpac Banking Corp located outside a branch in central Sydney

(Reuters) - Westpac Banking Corp on Monday said its capital position at the end of the fiscal third quarter was weaker, hurt by payment of an interim dividend and higher risk weighted assets (RWA) following interest rate hikes over the quarter.

Since May, the Reserve Bank of Australia (RBA) has increased its key cash rate by 175 basis points which the country's "Big Four" lenders have passed on to their customers in full.

Australia's third largest lender said CET1 capital ratio, a measure of spare cash, fell to 10.75% at the end of June from 11.3% at end of March.

Westpac said its total assets with exposure of default at the end of the quarter were A$1.213 trillion, compared to A$1.184 trillion at the end of March.

The lender did not disclose a profit figure for the quarter, but said that cash earnings were partly offset by higher deductions for capitalized software and other regulatory deductions.

Last week, larger rival Commonwealth Bank of Australia warned that spiralling cost-of-living pressures had begun to hit consumer confidence, while National Australia Bank issued yet another warning on increasing costs.

(Reporting by Harish Sridharan in Bengaluru; editing by Diane Craft)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
COMMONWEALTH BANK OF AUSTRALIA -1.90% 93.64 Delayed Quote.-7.29%
NATIONAL AUSTRALIA BANK LIMITED -1.58% 29.35 Delayed Quote.1.77%
WESTPAC BANKING CORPORATION -1.43% 21.42 Delayed Quote.0.33%
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Analyst Recommendations on WESTPAC BANKING CORPORATION
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Financials
Sales 2022 19 133 M 12 523 M 12 523 M
Net income 2022 5 395 M 3 531 M 3 531 M
Net Debt 2022 - - -
P/E ratio 2022 14,9x
Yield 2022 5,66%
Capitalization 74 886 M 49 012 M 49 012 M
Capi. / Sales 2022 3,91x
Capi. / Sales 2023 3,60x
Nbr of Employees 34 637
Free-Float 99,5%
Chart WESTPAC BANKING CORPORATION
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Technical analysis trends WESTPAC BANKING CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 21,42 AUD
Average target price 24,43 AUD
Spread / Average Target 14,1%
EPS Revisions
Managers and Directors
Peter Francis King Director
Michael Rowland Chief Financial Officer
John McFarlane Chairman
Scott Collary Chief Operating Officer
Peter Ralph Marriott Independent Non-Executive Director
Sector and Competitors