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Westpac Banking Corp (ASX:WBC) deputy group treasurer Joanne Dawson has told media she expects bank funding costs to remain under pressure for an extended period as the US federal reserve prepares to scale back its stimulus spending.
The comments come in the wake of Westpac's move to raise $750 million from retail investors.
Ms Dawson says market volatility has raised international funding costs, sparked by Federal Reserve chairman Ben Bernanke comments that the Fed could begin tapering its stimulus spending later this year.
She says periods of instability have been a feature since the global financial crisis and she expects it to remain for some time to come.
Westpac Bank generated a net profit of $3.3 billion in the first half of fiscal 2013.
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Last
$38.73 |
Change
0.250(0.65%) |
Mkt cap ! $132.4B | |||
| Open | High | Low | Value | Volume |
| $38.40 | $38.82 | $38.27 | $112.4M | 2.907M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 629 | $38.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.75 | 10000 | 1 |
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| Last trade - 16.11pm 15/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |