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Australia’s Westpac H1 profit up six %, wins forecast

Australia’s Westpac H1 profit up six %, wins forecast. As it stated in Westpac Banking Corp told on Monday its half-year cash profit rose six per cent, boosted particularly with its user & corporate lending arms.
[BENGALURU] Westpac Banking Corp told on Monday its half-year cash profit rose six per cent, boosted particularly with its user & corporate lending arms.
2 lender announced a cash profit of A$4.25 bn (S$4.26 billion) for the half year ended March 31, up from A$4.02 bn a year ago.
Cash profit, a measure which excludes one-offs & non-cash accounting items, Information Systems closely watched with investors.
Westpac’s popular equity Tier-1 capital ratio at March-end rose to 10.5 per cent from ten per cent a year ago.

 

Australia's Westpac
Australia’s Westpac

Macquarie Group’s $2.6b profit wins estimates, outlook ‘in line’

Share on twitter Joyce Moullakis with Macquarie Group has delivered a record $2.56 bn annual profit, helped with debt capital markets revenue & performance fees in its asset management unit.
Macquarie’s outlook statement told it anticipated the 2019 result would be “broadly in line” with this year’s earnings.
Macquarie’s chief executive, Nicholas Moore, Information Systems expecting the following financial year’s result would be ‘broadly in line’ with this year’s earnings.
UBS analysts labelled Macquarie’s earnings a “solid result” & noted the composition was skewed to the group’s markets businesses.
Operating expenses edged up three per cent to $7.5 bn as staff linked costs & business activity rose.

 

Macquarie Group's profit
Macquarie Group’s profit

UPDATE 1-Australia’s Westpac H1 profit up six pct, wins forecast

As mentioned in (Adds chief executive officer comments, other performance metrics)May seven (Reuters) – Westpac Banking Corp told on Monday its half-year cash profit rose six percent, boosted particularly with its user & corporate lending arms.
2 lender announced a cash profit of A$4.25 bn ($3.20 billion) for the half year ended March 31, up from A$4.02 bn a year ago.
Cash profit, a measure which excludes one-offs & non-cash accounting items, Information Systems closely watched with investors.
Westpac’s user banking arm saw a twelve % height in cash earnings to A$1.72 billion, helped with controlled costs & reduce impairment charges.
The Australian banking watchdog then determine fresh rules for higher capital on the country’s largest banks, When steering clear from any measures to cap their bloating mortgage books.

 

 

 

Collected by :Victor Alphen

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