Feb 3 (Reuters) - Westpac Banking Corp (WBC) on Thursday posted an around 20% drop in first-quarter cash earnings and pointed to shrinking margins as it struggles with steep competition in mortgages.
Australia's fourth-largest bank by market value said cash earnings for the three months to Dec. 31 came in at A$1.58 billion ($1.13 billion), compared with A$1.97 billion reported a year ago.
It beat a A$1.47 billion forecast by Citigroup and A$1.38 billion by Morgan Stanley. ($1 = 1.3996 Australian dollars)
News: WBC Australia's Westpac posts 20% drop in Q1 cash earnings
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Last
$38.91 |
Change
-0.070(0.18%) |
Mkt cap ! $133.1B | |||
| Open | High | Low | Value | Volume |
| $39.15 | $39.28 | $38.88 | $20.25M | 518.2K |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 515 | $38.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.92 | 43 | 1 |
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| Last trade - 10.48am 25/08/2025 (20 minute delay) ? |
| WBC (ASX) Chart |