April 26 (Reuters) - Westpac Banking Corp (WBC) :
- CASH EARNINGS IN 1H21 WILL BE REDUCED BY $282M
- SEES ADDITIONAL PROVISIONS FOR CUSTOMER REFUNDS, PAYMENTS, ASSOCIATED COSTS, AND LITIGATION PROVISIONS OF $220M IN 1H21
- SEES WRITE-DOWN OF CAPITALISED SOFTWARE AND OTHER INTANGIBLES OF $115M
- SEES COSTS ASSOCIATED WITH ENDING GROUP'S RELATIONSHIP WITH IOOF, $56M IN 1H21
- SEES ACCOUNTING LOSS ON SALE IN WESTPAC PACIFIC & DEAL COSTS, PAYMENTS FOR DIVESTMENTS $113M IN 1H21
- CHANGED ITS SOFTWARE CAPITALISATION POLICY, INCREASING THRESHOLD BEFORE A PROJECT IS CAPITALISED TO $20M
- ANNOUNCES $546M GAIN ON GROUP'S INVESTMENT IN COINBASE INC
- CHANGE IN SOFTWARE CAPITALISATION POLICY WILL SEE GROUP EXPENSE A HIGHER PORTION OF ITS INVESTMENT SPENDING FROM 1H 2021
- NET GAIN ON REVALUATION OF INVESTMENT IN COINBASE OF $288 MILLION
News: WBC Westpac Expects H1 Cash Earnings To Fall By $282 Mln
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