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.

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.

Westpac to layoff 300 workers in business and retail unit, says trade union

National Australia Bank Ltd

All of Australia's "Big Four" banks on Friday passed on the Reserve Bank of Australia's (RBA) latest rate hike to their customers in full, raising their respective standard variable home loan rates by a quarter-point.

Aussie Big Four banks hike home loan rates to match c.bank move

Top Australian lender Westpac Banking Corp said on Tuesday that it will raise its home loan variable interest rates by 25 basis points (bps), in line with the Reserve Bank of Australia's (RBA) rate hike.

Australian lender Westpac to raise interest rates after cenbank hike

Australia's Westpac Banking Corp said it will refinance loans for some borrowers who don't meet an industry standard that assesses their ability to repay, putting pressure on the bank regulator to relax guidelines after a year of interest rate hikes.

Australia's Westpac says won't stick to home loan guideline as interest rates surge

Westpac Banking Corporation (NYSE:WBK ) Q2 2023 Results Conference Call May 7, 2023 8:00 PM ET Company Participants Justin McCarthy - GM, IR Peter King - CEO Michael Rowland - CFO Conference Call Participants Victor German - Macquarie Bank Brendan Sproules - Citi John Storey - UBS Carlos Cacho - Jarden Ed Henning - CLSA Andrew Lyons - Goldman Sachs Andrew Triggs - JPMorgan Jonathan Mott - Barrenjoey Matt Dunger - Bank of America Merrill Lynch Richard Wiles - Morgan Stanley Azib Khan - Evans and Partners Peter Ryan - The ABC Joyce Moullakis - News Corp Ayesha de Kretser - The AFR Eric Johnston - The Australian Clancy Yeates - The Sydney Morning Herald Nabila Ahmed - Bloomberg News David Ross - The Australian Nathan Lead - Morgans Justin McCarthy Good morning, everyone, and welcome to Westpac's 2023 Interim Results. My name is Justin McCarthy, GM of Investor Relations.

Westpac Banking Corporation (WBK) Q2 2023 Earnings Call Transcript

Australia's Westpac Banking Corp on Monday posted a 22% jump in first-half net profits as margins improved on the back of rising interest rates but warned tough mortgage competition will negatively impact margins going into the second half.

Westpac H1 profit jumps on higher interest rates, flags second-half margin pressures

The ASX 200 index drifted downwards after the Reserve Bank of Australia (RBA) decided to hike interest rates by 0.25%. It dropped to a low of A$7,290, which was a few points below last month's high of A$7,396.

ASX retreats as Westpac, NAB, ANZ, CBA shares jump after RBA hike

Westpac Banking has scuttled its consideration of an acquisition of Tyro Payments. The two firms said Monday (Dec. 12) in separate press releases that they had had preliminary discussions but those talks have ended.

Australia's Westpac Banking and Tyro Payments End Acquisition Talks

Westpac Banking Corporation (NYSE:WBK ) Q4 2022 Results Conference Call November 6, 2022 6:00 PM ET Company Participants Andrew Bowden - IR Peter King - CEO Michael Rowland - CFO Conference Call Participants Victor German - Macquarie Jarrod Martin - Crédit Suisse Andrew Triggs - JPMorgan Jon Mott - Barrenjoey Peter Redhead - Macquarie Andrew Lyons - Goldman Sachs Brendan Sproules - Citigroup Brian Johnson - Jefferies Richard Wiles - Morgan Stanley Azib Khan - ABN Amro James Ellis - BofA Joyce Moullakis - The Australian Gerard Cockburn - The Canberra Times Nathan Zaia - Morningstar Clancy Yeates - The Sydney Morning Herald Fabian Cotter - Yahoo News Australia Andrew Bowden Good morning, everyone, and welcome to Westpac's Full Year 2022 results. My name is Andrew Bowden, I'm the GM of Investor Relations.

Westpac Banking Corporation (WBK) Q4 2022 Earnings Call Transcript

Australia's no.3 lender Westpac Banking Corp on Monday reported a 1.4% drop in annual profit, hurt by competition in its home lending business and a charge related to the sale of its life insurance unit, while raising its cost target.

Australia's Westpac annual profit falls on charge from sale of unit

Australia's Westpac Banking Corp warned on Monday that its second-half reported net profit and cash earnings will be reduced by A$1.3 billion ($824 million) after tax, citing a loss on the sale of its life insurance business, among others.

Australia's Westpac sees $824 mln hit in second half from unit sale

Block

Afterpay, the Australian payments firm bought by Jack Dorsey's Block Inc, and Australia's Westpac Banking Corp ended a partnership after the firm cancelled a smartphone app it was running with the bank, the companies said.

Jack Dorsey's Block ends Afterpay smartphone tie-up with Australia's Westpac

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.

Australia's Westpac capital position weaker at quarter-end

The Westpac (ASX: WBC) share price dropped sharply on Tuesday even after the Reserve Bank of Australia (RBA) decided to hike interest rate for the second straight month. The stock crashed by over 2% to A$23.41, which was almost 4% below its highest level this month.

Westpac share price nosedives after hawkish RBA. Is it a buy?

Westpac Banking Corp said on Thursday it would sell one of its financial advisory businesses, Advance Asset Management, to pension fund Mercer Australia, as part of the bank's ongoing push to exit non-core businesses.

Westpac to sell one financial advisory business, merge unit's funds with Mercer Super Trust

Westpac Banking Corporation (NYSE:WBK ) Q2 2022 Earnings Conference Call May 8, 2022 8:00 PM ET Company Participants Andrew Bowden - Investor Relations Peter King - Chief Executive Officer Michael Rowland - Chief Financial Officer Conference Call Participants Ed Henning - CLSA Victor German - Macquarie Research Andrew Lyons - Goldman Sachs Andrew Triggs - JPMorgan Chase Brian Johnson - Jefferies Carlos Cacho - Jarden Brendan Sproules - Citigroup Jon Mott - Barrenjoey Richard Wiles - Morgan Stanley Peter Ryan - ABC Clancy Yeates - Sydney Morning Herald James Eyers - AFR Andrew Bowden Good morning, and welcome to Westpac's First Half 2022 Results Presentation. Thanks for joining us.

Westpac Banking Corporation (WBK) CEO Peter King on Q2 2022 Results - Earnings Call Transcript

Australia's Westpac Banking Corp on Monday posted over a 12% drop in first-half cash earnings, as its margins continued to be squeezed by stiff competition in mortgage lending amid record low interest rates and certain impairment charges.

Australia's Westpac first-half cash earnings drop 12% as competition bites

An Australian court ordered Westpac Banking Corp to pay A$113 million ($82.92 million) in penalties for multiple compliance failures across its businesses, after hearing the last of the six cases filed against it by the country's corporate watchdog.

Australian lender Westpac fined A$113 million for multiple compliance breaches

Australia's Federal Court on Friday ordered lender Westpac Banking Corp's superannuation agent to pay A$20 million ($14.96 million) in penalty for incorrect insurance charges.

Australia's Westpac unit penalised for charging incorrect insurance fees

Despite starting today with a drop of about 3%, the Westpac Banking Corp stock (WBC) has been on a strong bullish outlook in the last five days. The Bull Run follows the appointment of a new CEO for Fiji on February 7.

Westpac Banking Corp stock (WBC) has jumped 4% in 5 days: you can buy WBC stock here

Australia's Westpac Banking Corp was hit with a so-called "first strike" vote against executive pay plans at its annual general meeting and Chairman John McFarlane apologised "unreservedly" for a sharp decline in its share price.

Australia's Westpac suffers protest vote at AGM, chairman apologises for share slide

Erste Group Bank AG

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Westpac said on Tuesday it will likely be fined 113 million Australian dollars ($80.8 million) for alleged compliance failures across its business over many years, including charging financial advice fees to thousands of dead customers.

Westpac to likely pay $81 million for allegedly charging dead people, among other breaches

Australian securities regulator said on Tuesday it has filed six civil penalty proceedings against Westpac Banking Corp, the country's third-largest bank, alleging widespread compliance failures across its business over many years.

Australian regulator takes Westpac to court over multiple compliance failures

CEO Peter King has led Westpac with excellent progress across its 3 key strategies of Fix, Simplify and Perform. A 17% price rout since the annual report was an over-reaction to slightly softer than expected results, despite an underlying growing business amidst regulatory action.

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