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Westpac Banking Corporation Ltd (ASX:WBC) CEO Gail Kelly has shrugged off concerns that Australian house values are falling and mortgage delinquencies are increasing.
Speaking to The Australian Financial Review Mrs Kelly says the fall in values was “quite healthy” and that she remains very confident about the housing situation across the country.
Mrs Kelly said the fall was more “a softening rather than any underlying concerns”, noting that the economy is underpinned by strong fundamentals such as the mining boom and low unemployment.
Mrs Kelly believes delinquencies will pick up, but off a low base.
Westpac generated a net profit of $3.9 billion in the six months to 31 March 2011.
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Last
$39.03 |
Change
0.300(0.77%) |
Mkt cap ! $133.4B | |||
| Open | High | Low | Value | Volume |
| $38.82 | $39.13 | $38.66 | $152.4M | 3.909M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1308 | $39.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.04 | 2500 | 2 |
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| Last trade - 16.10pm 16/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |