(Updates with background throughout, adds comments from Westpac, regulator)
July 19 (Reuters) - An Australian regulator announced on Friday a reduction of A$500 million in the A$1 billion ($670.50 million) capital add-on it had imposed on Westpac (WBC) in 2019 after identifying higher operational risk in the bank's risk governance self-assessment.
In July 2019, the country's prudential regulator had asked Westpac, ANZ Group (ANZ) and National Australia Bank (NAB) to set aside an additional A$500 million each until they strengthen their risk management and reimburse customers for wrongly charged fees.
The regulator then
imposed
an additional A$500 million capital add-on on Westpac in December 2019 to reflect the bank's heightened operational risk profile, primarily due to risk governance concerns.
In mid-March, the country's prudential regulator
removed
the A$500 million imposed on NAB.
Westpac said the reduction will boost its common equity tier 1 (CET1) capital ratio by 18 basis points.
"The remaining A$500 million capital add-on will remain in place until Westpac completes its transition work," the regulator added. ($1 = 1.4914 Australian dollars)
- Forums
- ASX - By Stock
- NAB
- News: NAB UPDATE 1-Australia regulator reduces Westpac's operational capital add-on requirement by...
News: NAB UPDATE 1-Australia regulator reduces Westpac's operational capital add-on requirement by...
Featured News
Add NAB (ASX) to my watchlist
(20min delay)
|
|||||
Last
$39.42 |
Change
0.240(0.61%) |
Mkt cap ! $121.1B |
Open | High | Low | Value | Volume |
$39.42 | $39.67 | $39.18 | $136.2M | 3.457M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20 | $39.39 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$39.45 | 200 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20 | 39.390 |
2 | 567 | 39.380 |
2 | 9508 | 39.370 |
1 | 9508 | 39.340 |
2 | 13643 | 39.310 |
Price($) | Vol. | No. |
---|---|---|
39.450 | 200 | 1 |
39.460 | 1380 | 3 |
39.480 | 6327 | 2 |
39.490 | 13411 | 3 |
39.500 | 19418 | 10 |
Last trade - 16.10pm 21/10/2024 (20 minute delay) ? |
Featured News
NAB (ASX) Chart |
The Watchlist
LGP
LITTLE GREEN PHARMA LTD
Paul Long, Chief Executive Officer
Paul Long
Chief Executive Officer
SPONSORED BY The Market Online