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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.


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