WBC westpac banking corporation

News: WBC Australia's Westpac FY profit flat as legal costs, refunds mount

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    Nov 5 (Reuters) - Westpac Banking Corp (WBC) reported flat cash earnings growth on Monday, missing expectations, as customer refunds and legal costs soared in the wake of damaging revelations of wrongdoing at a public inquiry.

    Australia's No. 2 lender said cash earnings for the year ended Sept. 30 came in at A$8.07 billion ($5.80 billion), compared with A$8.06 billion a year ago.

    That was lower than an average estimate of A$8.18 billion from six analysts polled by Reuters. ($1 = 1.3918 Australian dollars)

 
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