April 28 (Reuters) - Australia's Westpac Banking Corp (WBC) on Tuesday said it expects to record pre-tax impairment provisions in its first-half results of A$2.24 billion ($1.44 billion), which includes provisions for an expected jump in credit losses due to the coronavirus outbreak.
About A$1.6 billion of the impairment charges are predominantly related to COVID-19 impacts, the country's second-largest lender said.
The impairments are in addition to provisions of A$1.43 billion the lender announced earlier this month, mostly for an expected fine over accusations it enabled millions of illegal payments, including between known child sex offenders.
($1 = 1.5513 Australian dollars)
April 28 (Reuters) - Australia's Westpac Banking Corp (WBC) on...
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$34.08 |
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Mkt cap ! $115.9B | |||
| Open | High | Low | Value | Volume |
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