$69 postpage LB

Westpac Banking Corporation Announced its 1H20 Results

  • May 04, 2020 12:34 PM AEST
  • Team Kalkine

Westpac Banking Corporation (ASX:WBC) announced its first half year FY 2020 results for the period ended 31 March 2020. The snippet of the results as compared to prior corresponding year is as below.

Gold MTF non-AMP

  • Cash earnings were $993 million, a dip of 70 percent.
  • Statutory net profit of $1190 million, a decrease of 62 percent.
  • Impairment charge was $2,238 million which includes potential impacts of coronavirus.
  • CET1 capital ratio of 10.8 percent and Return on equity was 2.9 percent.
  • Net interest margin was 2.13 percent, an increase of 1 bps.

WBC mentioned four key points in its result report, namely, building for the long term, improving risk management, supporting its customers and people, simplifying the Company’s operations.

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK