WBC westpac banking corporation

News: WBC Westpac Says H2 Cash Earnings After Tax To Be Reduced By $1,220 Mln

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    Oct 26 (Reuters) - Westpac Banking Corp (WBC) :

    • ITS CASH EARNINGS IN 2H20 WILL BE REDUCED BY $1,220M (AFTER TAX)
    • CASH EARNINGS IN 2H20 WILL BE REDUCED BY $1,220M (AFTER TAX) ARISING FROM NOTABLE ITEMS
    • NOTABLE ITEMS INCLUDE NEW ITEMS OF $816M (AFTER TAX), WITH PREVIOUSLY ANNOUNCED ADDITIONAL $404M PROVISION (AFTER TAX) FOR AUSTRAC MATTERS
    • NOTABLE ITEMS ARE ESTIMATED TO REDUCE GROUP'S CET1 CAPITAL RATIO BY 24 BASIS POINTS
    • SALE OF ZIP EXPECTED TO RESULT IN A PRE-TAX GAIN ON SALE OF ABOUT $26M TO BE REFLECTED IN WESTPAC'S 1H21 RESULTS
    • CREATION OF SPECIALIST BUSINESSES DIVISION INCLUDES MOVING BUSINESSES FROM CONSUMER, BUSINESS AND WIB DIVISIONS
    • CREATION OF SPECIALIST BUSINESSES DIVISION INCLUDES REALLOCATING CERTAIN CENTRALLY MANAGED COSTS ACROSS DIVISIONS

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Last
$33.66
Change
-0.330(0.97%)
Mkt cap ! $115.1B
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