WBC.NZ - Westpac Banking Corporation

NZSE - NZSE Delayed price. Currency in NZD
33.75
-0.15 (-0.44%)
At close: 4:09PM NZDT
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Previous close33.90
Open33.80
Bid33.70 x 200000
Ask34.50 x 225000
Day's range33.66 - 33.80
52-week range30.77 - 38.65
Volume9,638
Avg. volume18,465
Market cap112.025B
BetaN/A
PE ratio (TTM)13.51
EPS (TTM)2.50
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est38.40
  • AAP13 days ago

    Westpac apologises to Tas pensioners

    One of Australia's largest banks has apologised to Tasmanian pensioners for not sending their promised energy rebate cheques before Christmas. Westpac on Thursday apologised for the delays in posting the state government's promised $125 energy bonus after earlier making repeated assurances the cheques would be sent out on time. "Westpac apologises to Tasmanians who did not receive their cheques on time and are reviewing the procedures to ensure that this does not occur again," the bank said in a statement.

  • AAPlast month

    Westpac refunds $11m to mortgage customers

    Westpac will pay about $11 million in compensation to interest-only home loan customers who were not switched to principal repayments when they should have been. The refunds will go to 9,400 customers who held owner-occupier interest-only variable home loans, most of which had interest-only periods that expired between 2009 and 2016. A processing error led to these customers continuing to make interest-only repayments after the interest-only period ended, rather than being switched to principal and interest repayments.

  • Criticisms of the banks warranted: Westpac
    AAPlast month

    Criticisms of the banks warranted: Westpac

    Westpac chairman Lindsay Maxsted says criticism of the Australia's banking sector is "warranted" but he hopes a royal commission into alleged misconduct in the finance industry will restore trust and confidence. Mr Maxsted told the lender's annual general meeting in Sydney on Friday that the board was "disappointed" at the deterioration of the banking sector's reputation but accepted there had been times when the industry had failed to meet customer expectations.

  • Banks wobble on news of royal commission
    AAP2 months ago

    Banks wobble on news of royal commission

    The announcement of a banking royal commission has shaken Australia's financial sector and could land the big banks with a bill of up to $100 million each. Shares in Commonwealth Bank, Westpac, National Australia Bank, ANZ and Macquarie tumbled on Thursday as investors took fright at news the big lenders had, after months of resistance, told Treasurer Scott Morrison of the terms under which they would reluctantly accept a commission.

  • AAP2 months ago

    Westpac NZ hit with capital punishment

    Westpac's New Zealand subsidiary has been ordered to increase the amount of capital it holds after the bank failed to comply with local governance standards. The Reserve Bank of New Zealand on Wednesday said Westpac NZ had used unapproved capital models since 2008. The RBNZ said a report uncovered serious shortcomings and non-compliance failures in relation to Westpac NZ's status as an "internal models bank" - a lender that uses its own estimates to measure risk.

  • Business Wire2 months ago

    Westpac Banking Corporation Releases Its 2017 Annual Review and Sustainability Report, and 2017 Annual Report

    SYDNEY--(BUSINESSWIRE)-- Westpac Banking Corporation (Westpac) filed its Annual Report on Form 20-F with the US Securities and Exchange Commission (SEC) for the financial year ended September 30, 2017 ...

  • AAP2 months ago

    Westpac to 'agitate' for bank levy removal

    Westpac says it will keep fighting to remove the federal government bank levy. Chairman Lindsay Maxsted says the introduction of the bank levy in July this year had already impacted both the value and the returns from shareholder investment in the bank. "It discriminates against Australian banks relative to global peers and it has impacted the value of your investment and the investments of millions of superannuation holders across Australia," Mr Maxsted said in Westpac's annual report.

  • Westpac profit miss as bank cops mistakes
    AAP2 months ago

    Westpac profit miss as bank cops mistakes

    Westpac lifted full-year profit three per cent to $8.062 billion, narrowly missing market expectations after it copped the cost of past mistakes. Westpac took a hit equivalent to 1.5 per cent of its cash profit to superannuation customers who lost out because of disclosure practices, package customers who did not receive benefits to which they were entitled, and others who did not receive on-time advice. Chief executive Brian Hartzer said Westpac had made changes to ensure there would be no repeat.

  • Westpac lifts FY profit 3% to $8.062bn
    AAP2 months ago

    Westpac lifts FY profit 3% to $8.062bn

    Westpac has lifted its full-year profit three per cent to $8.062 billion, boosted by six per cent growth in Australian mortgages. The lender on Monday said cash profit for the 12 months to September 30 rose from $7.822 billion a year ago, helped by a four per cent lift in earnings from the consumer division. Chief executive Brian Hartzer said Westpac had managed to grow its loan book, while ensuring it stayed within regulatory limits on investor and interest-only lending.

  • Westpac CEO Hartzer Says Policy Mess Is Hitting Investment
    Bloomberg2 months ago

    Westpac CEO Hartzer Says Policy Mess Is Hitting Investment

    Westpac Banking Corp. Chief Executive Officer Brian Hartzer said the outlook for the financial industry is becoming more challenging and called on the Australian government to fix a range of policy messes ...

  • ASIC wrong on trader calls, Westpac says
    AAP3 months ago

    ASIC wrong on trader calls, Westpac says

    Westpac has accused the corporate regulator of taking phone calls between its traders out of context because "it's the best ASIC can do" to try and prove allegations of rigging the bank bill swap rate. Australia's second-largest bank on Wednesday responded to ASIC's accusations the bank engaged in misconduct and market manipulation to push the BBSW higher or lower between 2010 and 2012. Matthew Darke SC said recorded phone calls played in court as part of ASIC's case were "it seems, the best ASIC can do" in its Federal Court trial against Westpac.

  • Westpac phone calls played at BBSW trial
    AAP3 months ago

    Westpac phone calls played at BBSW trial

    Telephone conversations between a top Westpac trader and his colleagues show he knew manipulating the bank bill swap rate was wrong, ASIC has told a Federal Court trial. The regulator on Tuesday played an audio recording of Colin Roden, managing director of the bank's group treasury department, saying he would "f*** the rate" as it opened its case against Westpac. The Australian Securities and Investments Commission has accused Westpac of misconduct and market manipulation between 2010 and 2012 in relation to the bank bill swap rate.

  • Westpac to have its day in court on BBSW
    AAP3 months ago

    Westpac to have its day in court on BBSW

    Westpac is not backing down from its trial with the corporate regulator over allegations of inter-bank rate rigging, despite ANZ and National Australia Bank's decision to settle their cases. Counsel for all three banks and the Australian Securities and Investments Commission returned to the Federal Court on Monday to discuss their next steps after NAB settled its case for $50 million on Friday. ANZ was the first bank to settle with ASIC on October 23 on what was supposed to be the first day of a trial lasting up to five months.

  • AAP3 months ago

    Bank rate rigging case returns to court

    A Federal Court challenge by Australia's corporate regulator aimed at some of the nation's largest banks is set to resume in Melbourne, pending news of further settlement between parties. The Australian Securities and Investments Commission is expected back in court on Monday along with representatives for several of the country's big banks. On Friday, NAB reached a settlement with ASIC, and will be forced to pay $50 million and admit to 12 occasions of unconscionable conduct by employees in 2010 and 2011.

  • AAP3 months ago

    Westpac on its own if NAB follows ANZ

    A trial between the corporate regulator and two of Australia's largest banks could be over before it begins if National Australia Bank follows ANZ's lead and settles an inter-bank rate rigging case. If NAB settles with the Australian Securities and Investments Commission, Westpac could be the only institution left facing trial over bank bill swap rates. The BBSW, as it is known in financial markets, is a key benchmark used to price billions of dollars of loans, bills, bonds and derivatives.

  • NAB considers settling ASIC case like ANZ
    AAP3 months ago

    NAB considers settling ASIC case like ANZ

    Westpac could be the only institution left fighting allegations of inter-bank rate rigging if National Australia Bank follows ANZ's lead and settles with the corporate regulator. The three banks and the Australian Securities and Investments Commission returned to the Federal Court in Melbourne on Wednesday, but the trial was adjourned until Monday at ANZ's request. Justice Jonathan Beach said he was reluctant to adjourn the trial a second time and "waste court resources", but counsel for NAB said the adjournment could help its own discussions with ASIC.

  • NAB may follow ANZ in settling ASIC case
    AAP3 months ago

    NAB may follow ANZ in settling ASIC case

    National Australia Bank could become the second financial institution to settle with ASIC over allegations of inter-bank rate rigging after ANZ said it had reached an in-principle agreement with the corporate regulator. The Australian Securities and Investments Commission, ANZ, NAB and Westpac returned to the Federal Court in Melbourne on Wednesday, but the trial was adjourned until Monday at ANZ's request. Justice Jonathan Beach said he was reluctant to adjourn the trial a second time and "waste court resources", but counsel for NAB said the adjournment could also help its discussions with ASIC.

  • AAP3 months ago

    ANZ, Westpac, NAB trial with ASIC begins

    Three of Australia's largest banks will defend themselves against allegations of interest rate rigging in a Federal Court trial with the corporate watchdog. The trial between the Australian Securities and Investments Commission (ASIC) and ANZ, Westpac and National Australia Bank is scheduled to begin in Melbourne on Monday.

  • Half Westpac mortgages still interest-only
    AAP3 months ago

    Half Westpac mortgages still interest-only

    Westpac chief executive Brian Hartzer says about 50 per cent of the bank's mortgages are still interest-only. Prudential regulator APRA told the major banks six months ago to limit higher risk interest-only loans to 30 per cent of new residential mortgages, but Mr Hartzer said Westpac is comfortable with a much higher overall rate with older loans included. Mr Hartzer told MPs in Canberra on Wednesday that offset accounts and additional payments meant many interest-only borrowers were still reducing their level of debt.

  • NZ Newswire8 months ago

    Westpac NZ's first-half earnings rise

    Westpac Banking's New Zealand unit has eked out a 2 per cent gain in first-half earnings.