News: WBC Westpac Declares Interim Dividend Of 61 AU Cents Per Share

May 9 (Reuters) - Westpac Banking Corp (WBC) :

• DECLARED INTERIM DIVIDEND OF 61 AU CENTS/SHARE
• HY REVENUE FROM ORDINARY ACTIVITIES A$10,230 MILLION VERSUS A$10,686 MILLION REPORTED LAST YEAR
• HY CASH EARNINGS A$3,095 MILLION VERSUS A$3,537 MILLION
• HY NET INTEREST INCOME A$8,288 MILLION VERSUS A$8,348 MILLION
• AS AT MARCH-END, CET1 CAPITAL RATIO (APRA BASEL III) 11.33%
• IMPAIRMENT CHARGES WERE A$511 MILLION HIGHER WITH A CHARGE OF A$139 MILLION IN FIRST HALF 2022
• HY NET INTEREST MARGIN 1.91%
• REMAINING BUSINESSES FOR EXIT INCLUDE WESTPAC PACIFIC COMPRISING PAPUA NEW GUINEA AND FIJI BUSINESSES WHERE WE ARE REVIEWING OUR OPTIONS
• FLOODS, LINGERING EFFECTS OF PANDEMIC AND IMPACT OF WAR IN UKRAINE HAVE SET MANY CUSTOMERS BACK AND CREATED UNCERTAINTY
• CONSUMER SPENDING MAY BE TEMPERED BY HIGHER PRICES AND HIGHER INTEREST RATES
• DEMAND FOR HOUSING HAS ALREADY SHOWN SOME SIGNS OF EASING
• RISING INTEREST RATES ARE EXPECTED TO CONTRIBUTE TO A MODERATION IN HOUSE PRICES NEXT YEAR
• CORE PROGRAM IS DELIVERING TO PLAN
• H1 2022 COSTS DOWN 27%, OR 10% EXCLUDING NOTABLE ITEMS, COMPARED TO H2 2021
• REDUCTION IN HEADCOUNT OF MORE THAN 4000 IN HY