Westpac Banking Corp Sponsored

Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist and Group. The Consumer segment provides banking products, including mortgages, credit cards, personal loans, and savings and deposit products. The Business segment serves the banking needs of SME and commercial customers, including agribusiness and provides banking and advisory services to high net worth individuals through private wealth. The Westpac Institutional Bank segment provides a broad range of financial products and services to corporate, institutional and government customers. The Westpac New Zealand segment provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand. The Specialist segment comprises the operations that Westpac ultimately plans to exit with agreements in place for the sale of Westpac Life Insurance and motor vehicle dealer finance and notated leasing businesses. The Group segment includes the results of unallocated support functions such as treasury, chief operating office and core support. It also includes group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. The company was founded in 1817 and is headquartered in Sydney, Australia.

Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist Businesses and Group Businesses. The Consumer segment provides banking products, including mortgages, credit cards, personal loans, and savings and deposit products. The Business segment serves the banking needs of SME and commercial customers, including agribusiness and provides banking and advisory services to high net worth individuals through private wealth. The Westpac Institutional Bank segment provides a broad range of financial products and services to corporate, institutional and government customers. The Westpac New Zealand segment provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand. The Specialist Businesses segment comprises the operations that Westpac ultimately plans to exit with agreements in place for the sale of Westpac Life Insurance and motor vehicle dealer finance and notated leasing businesses. The Group Businesses segment includes the results of unallocated support functions such as treasury, chief operating office and core support. It also includes group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. The company was founded in 1817 and is headquartered in Sydney, Australia.

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.

Westpac Annual Profit Falls 3%, But Upbeat on Prospects

Australia's Westpac Banking Corp reported a 3% fall in annual profit on Monday, due to rising costs and intense competition in the mortgage market, while it increased its buyback program by an additional A$1 billion.

Australian lender Westpac's annual profit falls 3%, increases buyback

Australia's Westpac said on Thursday Peter Herbert will be appointed as acting chief executive for its business and wealth segment, effective Nov. 5.

Australia's Westpac appoints Peter Herbert as acting CEO of business segment

Westpac Banking Corp , Australia's third-largest lender by market value, said on Tuesday its 2024 net profit would take a A$123 million ($82.26 million) hit due to impacts from certain notable items.

Westpac flags $82 mln hit to FY24 net profit from notable items

Westpac Banking Corp said on Thursday it would sell its auto finance loans book to non-bank lender Resimac Group for an expected value of A$1.4 billion ($963.62 million) to A$1.6 billion at completion.

Australia's Westpac to sell auto finance loan book to Resimac Group

Westpac has appointed Anthony Miller as chief executive officer and managing director, the Australian bank said on Monday.

Westpac appoints Anthony Miller as new chief executive officer

Australia's Westpac Banking Corp said on Monday its third-quarter net profit was largely in line with a year ago, as increased earnings from capital and hedged deposits counterbalanced rising expenses and bad loans.

Westpac posts steady third-quarter profit, helped by higher capital earnings

The Australian bank said its first-half net profit fell by 16%, but it would return more capital to shareholders through an increased dividend and bigger share buyback.

Westpac's First-Half Profit Falls, Lifts Buyback

Australia's Westpac Banking Corp reported a 16% drop in its first-half net profit on Monday as margins are squeezed by intense lending competition and higher costs. It also announced an increase of A$1 billion to an existing share buyback program.

Australia's Westpac net profit falls 16%, announces additional $661 million buyback

Westpac Banking Corp has pushed back the closures of its regional branches until at least 2027 and will invest more than A$150 million over the next two years to improve services at these branches, the lender said early on Wednesday.

Australian bank Westpac extends moratorium on regional branch closures till 2027

Australia faces housing affordability problems for first-time homeowners but the country's property market is fundamentally in good shape, the CEO of third-biggest lender Westpac Banking Corp said on Tuesday.

Westpac CEO says he is positive on Australia's housing market

The Australian banking trade union said on Thursday that Westpac Banking Corp , one of the country's top lenders, has cut around 132 jobs across divisions, with some of these roles being shifted to companies in India and the Philippines.

Westpac cuts 132 jobs across divisions, says trade union

Australia's Westpac Banking Corp on Monday said its first quarter unaudited net profit was lower than its prior six-month's quarterly average, citing the impact of notable items related to hedge accounting.

Australia's Westpac first-quarter profit falls from its prior six-month quarterly average

Commonwealth Bank of Australia

National Australia Bank Ltd

Australian bank stocks retreated slightly on Tuesday after the Reserve Bank of Australia (RBA) delivered its first monetary policy decision of the year. Commonwealth Bank shares retreated by 1% to $114.37 while Westpac and NAB fell to $24.15 and $32.2, respectively.

CBA, ANZ, Westpac, and NAB shares react to the RBA decision

Australia's corporate regulator said on Wednesday that a court found Westpac engaged in unethical conduct while carrying out an A$12 billion ($7.88 billion) interest rate swap transaction in 2016, the largest of its kind in the country.

Australia's Westpac found guilty of misconduct in 2016 rate swap deal

Westpac Banking Corp , Australia's third largest bank by market capitalisation, said on Monday it would raise A$750 million ($488.1 million) in an Additional Tier 1 (AT1) capital transaction.

Westpac to raise $488 million in additional Tier 1 capital

Westpac Group , Australia's fourth-largest bank by market capitalisation, on Wednesday cut ties with scandal-tainted auditor PricewaterhouseCoopers (PwC) Australia, ending a relationship stretching back to 1968.

Australia's Westpac dumps PwC as auditor after 55 years

Westpac Banking Corporation (NYSE:WBK ) Q4 2023 Results Conference Call November 5, 2023 6:00 PM ET Company Participants Justin McCarthy - GM of Investor Relations Peter King - CEO, MD & Director Michael Rowland - Chief Financial Officer Conference Call Participants John Storey - UBS Brendan Sproules - Citi Andrew Lyons - Goldman Sachs Victor German - Macquarie Matt Dunger - Bank of America Jonathan Mott - Barrenjoey Andrew Triggs - JPMorgan Matthew Wilson - Jefferies Richard Wiles - Morgan Stanley Ed Henning - CLSA Carlos Cacho - Jarden Azib Khan - Evans & Partners James Eyers - the AFR Paulina Duran - The Australian Justin McCarthy Good morning, everyone. Welcome to Westpac's 2023 Full Year Results.

Westpac Banking Corporation (WBK) Q4 2023 Earnings Call Transcript

Westpac (ASX: WBC) share price jumped to the highest level since August 1st after the company published strong financial results. The stock jumped to a high of $A22.35, which was up by almost 10% from the lowest point this year.

Westpac share price popped after earnings: Is it still a good buy?

Australia's Westpac Banking Corp on Monday posted a 26% rise in annual profits, helped by growth across key markets including deposits and mortgages, while also commencing an A$1.5 billion share buy-back.

Australia's Westpac posts 26% rise in annual profit

Australia's Westpac Banking Corp said on Wednesday that it projects its reported net profit after tax in fiscal 2023 will be reduced by A$173 million due to certain one-off items, including the sale of its asset management business.

Australia's Westpac sees lower profit in fiscal 2023

Westpac Banking Corp on Wednesday said it would split its consumer and business banking business into two, with each having its own CEO, effective Aug. 1.

Australia's Westpac splits consumer and business banking unit into two

Australia's central bank is set to lose a top official to the private sector amid a broader shake-up that could soon see its chief replaced.

Westpac hires RBA assistant gov Luci Ellis as chief economist

Westpac on Friday lifted its forecast for Australia's cash rate peak to 4.6%, tipping quarter-point hikes in July and August, joining other major banks that are expecting higher rates and slower growth as the central bank turns more hawkish.

Westpac raises Australia cash rate peak forecast to 4.6%

Australian lender Westpac Banking Corp will cut around 300 jobs in its consumer and business banking segments at a time of strong profit growth amid rising interest rates and soaring inflation, a local trade body said.

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