Westpac Announced $2.2 Billion 1H2020 Impairment Charge

  • Apr 28, 2020 AEST
  • Team Kalkine

Westpac Banking Corporation (ASX:WBC) has announced 1H2020 impairment charges of $2,238 million. It comprises of $0.6 billion from individually assessed provisions & net write-offs together with ~ $1.6 billion of additional impairment charges primarily related to COVID-19 impacts.

The $1.6 billion addition to the impairment charge has a comparatively little effect on the common equity tier 1 capital ratio capital of the Group.

At AEST 12:06 PM, WBC shares are trading at $15.045, up ~ 2.63% from its previous close.



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