ASX - Delayed Quote ? AUD Westpac Banking Corporation (WBC.AX) Follow Compare 31.93 -0.58 (-1.78%) At close: 4:10 PM GMT+11 All News Press Releases SEC Filings All SEC Filings Corporate Changes & Voting Matters Periodic Financial Reports Proxy Statements Tender Offer/Acquisition Reports Offering Registrations Westpac flags $82 million hit to FY24 net profit from notable items 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. The bank attributed the hit to the unrealised fair value gains and losses on economic hedges and net ineffectiveness on qualifying hedges recognised during the year. Westpac, which had reported a net profit of A$7.195 billion for fiscal 2023, is scheduled to report its 2024 results Nov. 4. Reuters ? 11 hours ago WEBNF Westpac Finalizes Exit from Auto Finance Sector Westpac Banking (AU:WBC) has released an update. Westpac Banking has announced a deal to sell its auto finance loan portfolio to Resimac Group Limited, with the transaction expected to be finalized in the first half of 2025 and valued between $1.4 and $1.6 billion. This sale marks the completion of Westpac’s exit from the auto finance sector, a process that began with a partial sale in 2021 and is not anticipated to significantly affect the company’s financial statements. For further insights in TipRanks ? 18 days ago AGKSWG.AX AGOSWG.AX AMCSWG.AX Australia's Westpac to sell auto finance loan book to Resimac Group Westpac, Australia's second-largest mortgage lender by loans, had partially sold its auto finance business to U.S. private equity firm Cerberus Capital Management in 2021, as it moved to focus on core banking operations. "The transaction supports the strategic growth objectives of Resimac's asset finance division and follows a number of business and portfolio acquisitions in recent years," Resimac said in a separate statement. Reuters ? 19 days ago WEBNF Dollar gains as ADP shows better-than-expected jobs gains NEW YORK (Reuters) -The dollar hit a three-week high against the euro on Wednesday after the ADP national employment report showed U.S. private payrolls increased more than expected in September, ahead of Friday's highly anticipated jobs data. Traders are also keeping a close eye on geopolitical tensions a day after Israel was attacked by Iran in a strike that raised fears the oil-producing Middle East could be engulfed in a wider conflict. Private payrolls increased by 143,000 jobs last month after rising by an upwardly revised 103,000 in August, the ADP National Employment Report showed on Wednesday. Reuters ? 20 days ago WEBNF Westpac Banking (ASX:WBC) Names Anthony Miller New CEO Amid Strong Growth in Mortgages and Business Loans Westpac Banking(ASX:WBC) is navigating a dynamic period characterized by both growth and challenges. Recent updates show a 5% increase in half-year profit and significant growth in key segments, yet rising expenses and a slight decline in core net interest margin present hurdles. In the discussion that follows, we will explore Westpac's strengths, weaknesses, opportunities, and threats to provide a comprehensive overview of the company's current business situation. Simply Wall St. ? 22 days ago AGKSWG.AX AGOSWG.AX AMCSWG.AX Westpac appoints insider Anthony Miller as CEO, incumbent Peter King to retire (Reuters) -Westpac Banking Corp has appointed its business and wealth division head Anthony Miller as its new chief executive and managing director, effective from Dec. 16, Australia's third-largest lender said on Monday. Miller will succeed Peter King, who is retiring on Dec. 15 after a 30-year career at Westpac including five years as CEO. Before joining Westpac in 2020, Miller had served as the CEO of Deutsche Bank's Australia and New Zealand operations and co-head of investment bank APAC. Reuters ? last month WEBNF Westpac Banking Third Quarter 2024 Earnings: EPS: AU$0.52 (vs AU$0.46 in 3Q 2023) Westpac Banking ( ASX:WBC ) Third Quarter 2024 Results Key Financial Results Revenue: AU$5.30b (up 2.1% from 3Q 2023... Simply Wall St. ? last month AGKSWG.AX AGOSWG.AX AMCSWG.AX Australia's Westpac posts steady Q3 profit, helped by higher capital earnings Based on the company's average quarterly performance in the first half of 2024, Westpac's unaudited net profit showed a 6% increase. Australia's central bank has held its policy steady since November, having raised the cash rate by 425 basis points to 4.35% since May 2022 to tame inflation. The increased rate allowed Westpac to generate better returns on its own invested capital. Reuters ? 2 months ago WEBNF The WSJ Dollar Index Falls 0.5% to 97.62 NEWSPLUS The WSJ Dollar Index is down 0.44 point or 0.45% today to 97.62 —Largest one-day point and percentage decline since Friday, Aug. 2, 2024 —Down three of the past four trading days —Lowest closing value since Wednesday, March 13, 2024 —Off 3. The Wall Street Journal ? 2 months ago AGKSWG.AX AGOSWG.AX AMCSWG.AX Australia consumer sentiment improves in August after RBA hold- Westpac Investing.com-- Australian consumer sentiment improved in early August after the Reserve Bank kept interest rates unchanged and as the effects of recent tax breaks became more apparent, although consumers still remained broadly pessimistic. Investing.com ? 2 months ago WEBNF Australia consumers brighten up as rate fears ease, tax cuts kick in Australian consumer sentiment bounced in August as rate fears subsided and the outlook for family finances improved due to the government's tax cuts and other cost-of-living measures, a survey showed on Tuesday. The Westpac-Melbourne Institute index of consumer sentiment rose 2.8% in August from July, when it fell 1.1%. "Consumers breathed a small sigh of relief in August as the RBA Board left interest rates unchanged and the support coming from tax cuts and other fiscal measures became more apparent," said Westpac senior economist Matthew Hassan. Reuters ? 2 months ago WEBNF Westpac makes mobile credit cards dynamic for corporate customers Westpac is launching Dynamic Virtual Cards for institutional, corporate and government customers Electronic Payments ? 3 months ago WEBNF Westpac Banking (ASX:WBC) stock performs better than its underlying earnings growth over last year If you want to compound wealth in the stock market, you can do so by buying an index fund. But one can do better than... Simply Wall St. ? 3 months ago AGKSWG.AX AGOSWG.AX AMCSWG.AX Aussie banks to return $19 million charged in high fee to low-income customers A report released by the Australian Securities and Investments Commission (ASIC) on Monday said ANZ, Commonwealth Bank Of Australia, Bendigo and Adelaide Bank and Westpac had kept at least two million customers in accounts under which they charged high fees. In July 2023, ASIC had written to the banks asking them to improve their processes and refund past fees incurred by low-income customers in high-fee bank accounts. "Banks knew that many of these customers on low-incomes were in inappropriate high-fee accounts, and it has taken ASIC's intervention to force them to act," ASIC Commissioner Alan Kirkland said. Reuters ? 3 months ago BXRBF WEBNF Australia consumers gloomy on rates, tax relief yet to be felt Australian consumer sentiment fell in July as fears about a possible rise in borrowing costs overshadowed the prospect of lower taxes and government relief on power bills, a survey showed on Tuesday. The Westpac-Melbourne Institute index of consumer sentiment slipped 1.1% in July from June, when it rose 1.7%. "Sentiment remains stuck in the same deeply pessimistic range that has dominated for two years now," said Westpac senior economist Matthew Hassan. Reuters ? 3 months ago WEBNF Australian Dollar Outperforms After Consumer Confidence Improves in June Australian Dollar Outperforms After Consumer Confidence Improves in June PREMIUM MT Newswires ? 3 months ago WEBNF Australia consumers balance budget relief against rate risks Australian consumer sentiment rebounded modestly in June as the promise of imminent tax cuts lightened the mood, a survey showed on Tuesday, though the risk of yet higher borrowing costs loomed in the background. The Westpac-Melbourne Institute index of consumer sentiment rose 1.7% in June from May, when it dipped 0.3%. However, the survey also bracketed a meeting of the Reserve Bank of Australia (RBA) which warned there were upside risks to inflation and another rise in interest rates could not be ruled out. Reuters ? 3 months ago WEBNF Westpac ‘Pay With Points’ changes game for Altitude Rewards customers In an Australian first, Westpac Altitude Rewards customers can now use their Altitude Points for any credit card purchase, anytime, thanks to Westpac ‘Pay With Points’ Electronic Payments ? 4 months ago WEBNF Westpac launches real time warnings for scam payments Westpac Verify will help individuals and small businesses identify potential scams before they’ve made a payment Retail Banker International ? 4 months ago WEBNF Australian Dollar Struggles After GDP Partials Point to Weak Q1 GDP Australian Dollar Struggles After GDP Partials Point to Weak Q1 GDP PREMIUM MT Newswires ? 4 months ago WEBNF Performance Overview Trailing total returns as of 10/22/2024, which may include dividends or other distributions. Benchmark is S&P/ASX 200 [XJO] Return WBC.AX S&P/ASX 200 [XJO] YTD +43.29% +8.10% 1-Year +62.71% +18.91% 3-Year +47.41% +10.66%
