2311 GMT [Dow Jones]--Westpac's 3Q FY 2022 capital, credit quality and funding update provides limited disclosure, which makes it difficult to infer too much about the earnings trajectory of the Australian major bank during the quarter, says UBS analyst John Storey in a note. Still, the investment bank says high level trends look in line with peers. "Similar to the trends seen at the other majors that have reported and given updates to the market, Westpac noted a significant increase in interest rate risk in the banking book A$16 billion, with IRRBB now accounting for 9.1% of total risk weighted assets from 2.8% in June 2021," says UBS. Overall, the investment bank says, Westpac remains well provided, and asset quality during the reported period continued to strengthen. (alice.uribe@wsj.com)


(END) Dow Jones Newswires

08-15-22 1932ET