From the AFR: "Westpac catches the pack
Westpac’s December quarter trading update might have looked like a relatively ho-hum affair on the surface, but the 2.4 per cent jump in the red bank’s share price is a reminder that boring can be beautiful, too.
While there was a lot of noise in the result due to hedging impacts that will roll off over time, the core numbers looked good. Net interest margin was stable at 1.8 per cent, which is nothing to sneeze at given the pressure Commonwealth Bank pointed to in both the mortgage market and in deposits.
Revenue was solid, mortgages and household deposits growing in line with the broader system. And there was a better-than-expected performance from Westpac’s markets business; the results from these divisions tend to be volatile across the sector, but Westpac appears to be tracking better than competitors.
Finally, core profit at $1.8 billion was about 5 per cent ahead of market expectations, which was driven by good cost control from CEO Peter King; expenses rose 2 per cent, but this was 2 per cent better than the market expected. Westpac shares had underperformed compared to its three rivals since the start of November, but Monday’s welcome boost has brought it back to the pack."
- Forums
- ASX - By Stock
- Ann: Westpac 1Q24 Update
From the AFR: "Westpac catches the packWestpac’s December...
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add WBC (ASX) to my watchlist
(20min delay)
|
|||||
Last
$25.96 |
Change
0.200(0.78%) |
Mkt cap ! $90.16B |
Open | High | Low | Value | Volume |
$25.68 | $25.96 | $25.58 | $122.1M | 4.724M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5872 | $25.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$25.96 | 8726 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5872 | 25.940 |
1 | 17555 | 25.930 |
1 | 160 | 25.910 |
1 | 100000 | 25.900 |
1 | 38 | 25.890 |
Price($) | Vol. | No. |
---|---|---|
25.960 | 8726 | 2 |
25.970 | 1756 | 2 |
25.980 | 11857 | 2 |
25.990 | 2520 | 3 |
26.000 | 27121 | 31 |
Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
|
|||||
Last
$25.92 |
  |
Change
0.200 ( 0.56 %) |
|||
Open | High | Low | Volume | ||
$25.68 | $25.94 | $25.59 | 552695 | ||
Last updated 15.59pm 30/04/2024 ? |
Featured News
WBC (ASX) Chart |