0456 GMT - Westpac is Citi's top pick of the Aussie banking sector in 2021 as it believes the lender's 4Q 2020 underperformance relative to peers was likely overdone. The investment bank says Westpac's weak pre-provision profit at their FY 2020 result in November was the catalyst for the share-price underperformance, noting that rising risk-and-compliance costs and finalization of the new management team are helping to set the stage for a recovery. Still, Citi says Westpac needs to divest from BT, tackle concerns about capital adequacy, slow cost growth and re-establish loan growth in FY 2021 to improve its relative performance. Westpac rises 3.9% to A$20.12.([email protected])
(END) Dow Jones Newswires
January 06, 2021 23:56 ET (04:56 GM
0456 GMT - Westpac is Citi's top pick of the Aussie banking...
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Last
$34.57 |
Change
0.030(0.09%) |
Mkt cap ! $118.2B | |||
| Open | High | Low | Value | Volume |
| $34.45 | $34.62 | $34.24 | $153.1M | 4.436M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $34.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.58 | 190 | 1 |
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| Last trade - 16.17pm 26/06/2025 (20 minute delay) ? |
| WBC (ASX) Chart |