|Bid||0.00 x 800|
|Ask||0.00 x 1000|
|Day's range||21.85 - 22.00|
|52-week range||20.52 - 26.38|
|PE ratio (TTM)||12.59|
|Forward dividend & yield||1.41 (6.32%)|
|1y target est||21.78|
May.28 -- Sean Callow, senior currency strategist at Westpac Banking Corp., discusses the U.S. dollar, the Fed and his outlook for emerging markets. He speaks on "Bloomberg Daybreak: Asia."
Attractive stocks have exceptional fundamentals. In the case of Westpac Banking Corporation (ASX:WBC), there’s is a dependable dividend payer that has been able to sustain great financial health over theRead More...
An Australian regulator filed a lawsuit against No. 2 lender Westpac Banking Corp over a financial planner it alleges gave poor advice for years, upping its scrutiny of a sector already under fire amid an embarrassing public inquiry. Australia's A$5 billion ($3.7 billion) financial planning sector has provided some of the most damning evidence at an inquiry into finance sector misconduct, ordered by the government after a string of banking scandals including fraud. Amid the backlash, the Australian Securities and Investments Commission (ASIC) on Friday said it filed a Federal Court lawsuit alleging that Westpac was liable for a financial planner in its employment failing to act in the best interests of customers, as well as for the planner's inappropriate financial advice and failure to prioritise the client interests.
Measuring Westpac Banking Corporation’s (ASX:WBC) track record of past performance is a useful exercise for investors. It enables us to understand whether or not the company has met or exceedRead More...
Australia's Westpac Banking Corp (WBC.AX) was cleared by a court of accusations it rigged a key rate to boost profit, but the win on Thursday against a regulator was dampened by an additional finding of unconscionable conduct by the bank. The mostly favourable ruling for the No. 2 Australian lender was a rare bright spot for an industry facing daily allegations of malfeasance and fraud in a year-long public inquiry that has wiped billions of dollars from companies' market values. It also puts pressure on the Australian Securities and Investments Commission (ASIC), which brought the case against Westpac, to step up its policing.
Westpac Banking Corp. has been cleared of manipulating a key Australian interest rate, even though it did engage in “unconscionable conduct” in attempting to influence the rate, a court ruled. The Australian Securities & Investments Commission had claimed Westpac sought to influence the bank bill swap rate -- which is used to price more than A$10 trillion ($7.6 trillion) in derivatives -- to benefit its trading positions.
Australia's Westpac Banking Corp (WBC.AX) admitted on Monday to signing up a legally blind pensioner as loan guarantor for her daughter's business without warning her of the risks, then threatened to evict her when the business failed. The testimony, given to a powerful inquiry into the country's financial sector, came as Australia's "big four" lenders all admitted to misconduct in their submissions to a third round of public hearings that focuses on loans to small businesses. Other transgressions included fraudulent loans and double-charging interest, the inquiry heard, a further hit to the sector's reputation after previous rounds of hearings uncovered widespread abuses in Australia's financial planning industry.
No. 2 Australian lender Westpac Banking Corp (WBC.AX) said on Friday it had been "too slow" to resolve customer complaints and had created an executive role to handle them, as the country's financial sector responds to revelations of serious misconduct. Australia's biggest money managers have seen their shares pounded by a barrage of damaging allegations since February, when a Royal Commission inquiry began exposing their abuse of market power and contempt of customers. Among other flagrant abuses spanning the entire industry, the inquiry heard that Westpac had given a bonus to an employee for work he did with a retired couple who lost their home as a result of following his advice.
When Australian mother Catherine racked up a A$1,500 credit card debt to spoil her three children at Christmas, she did not expect to be paying it off more than two decades later. It never reduced," said Catherine, who estimates she has paid the bank A$8,000 in fees, interest and debt payments. After Reuters contacted ANZ about Catherine's case, she said the bank offered to cancel her debt and pay her A$2,400.
As Australia’s housing market goes, so goes Westpac Banking Corp. What’s more, while its big three competitors – including National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. – have reduced their market share over the past year, Westpac has been expanding aggressively.
An Australian inquiry into the financial services sector heard tearful testimony on Thursday from a nurse who lost her home after taking advice from a major lender, and that the country's biggest bank knowingly charged dead clients for counsel. The testimony was among the most personal yet at the Royal Commission that has already resulted in startling admissions of bad behaviour by firms. Government data prepared for the inquiry shows over 80,000 consumers have been given bad advice over the past decade, costing them a total A$5 billion (£2.7 billion).
LONDON--(BUSINESSWIRE)-- As Agent Bank, please be advised of the following rate determined on: 4/18/2018 Issue ¦ Westpac Banking Corporation - Series 2018-C3 GBP 500,000,000 FRN due January 2023 ISIN ...
Australia's biggest bank by market capitalisation added that it is reviewing details of the allegations lodged by the Australian Securities and Investments Commission against it that increase the number of occasions on which CBA is accused of trying to rig the bank bill swap reference rate (BBSW) in 2012 to six from three. The BBSW is the primary interest rate benchmark used in Australian financial markets to price home loans, credit cards and other financial products.
Australia’s largest banks have stepped up screenings of mortgage loan applications amid a powerful government-backed inquiry into the nation's lenders and their sales practices, potentially hurting revenues from their most lucrative products. National Australia Bank communicated on Friday to mortgage brokers its stricter conditions to assess mortgage applications, according to emails seen by Reuters, becoming the latest of Australia's 'Big Four' banks to do so. Westpac Banking Corp, Australia and New Zealand Banking Group, and Macquarie Group have also communicated to brokers in recent weeks changes in the way loans are assessed and approved, according to the emails reviewed by Reuters.
Australia has given its financial regulator sweeping powers to cap bank bosses' pays, delay their bonuses and even ban them from the industry if found guilty of non-compliance, as it scrambles to restore trust in the scandal-hit sector. The move, plans for which were first announced in May 2017, underscores the immense pressure on the government to rein in a sector that in recent years has faced accusations of withholding legitimate health insurance payouts, giving misleading financial advice and rigging interest rates. The series of scandals has cost Australian banks, among the most profitable in the world, hundreds of millions of dollars in fines and triggered a royal commission - an inquiry with the power to recommend criminal charges that starts next week.
Westpac Banking Corp reported on Monday its stressed assets fell slightly in the three months to December 31 and also announced plans to raise A$750 million ($592 million) in capital through the launch of new hybrid securities. Australia's second-biggest bank by market value said its common equity Tier-1 capital ratio was 10.1 percent at end-December, lower than the 10.6 percent reported at Sept. 30, 2017. Australian mortgage delinquencies, in aggregate, were largely unchanged for the quarter at 0.67 percent, while the bank's smaller mining and New Zealand dairy sectors reduced their exposure to impaired assets.
LONDON--(BUSINESSWIRE)-- As Agent Bank, please be advised of the following rate determined on: 1/18/2018 Issue ¦ Westpac Banking Corporation - Series 2018-C3 GBP 500,000,000 FRN due January 2023 ISIN ...
Westpac Banking Corporation filed its Annual Report on Form 20-F with the US Securities and Exchange Commission for the financial year ended September 30, 2017 on November 8, 2017 .
Westpac's Aus$7.99 billion (US$6.11 billion) result in the year to September 30 rounded out annual reporting from three of the nation's big four banks, with all of them growing their business
Westpac Banking Corp. Chief Executive Officer Brian Hartzer said the outlook for the financial industry is becoming more challenging and called on the Australian government to fix a range of policy messes ...
Hastings currently manages about A$12.6 billion ($9.68 billion) in funds, the company said. The company had also been in talks with property manager Charter Hall Group (CHC.AX) regarding the sale of Hastings, but it ceased discussions in August.
National Australia Bank chief executive Andrew Thorburn said the entire banking industry was under pressure to reshape its workforce