Westpac Banking Reported 66% Drop in Statutory NPAT in FY2020

  • November 02, 2020 11:55 AM AEDT
  • Team Kalkine

Westpac Banking Corporation (ASX:WBC) released its FY2020 results for the FY2020. During the period, the Company reported a 66% drop in the statutory NPAT. Cash EPS declined by 63% to 72.5 cents. WBC declared a fully franked dividend of 31 cents per share.

Gold MTF non-AMP

As per Westpac’s CEO, Peter King, 2020 was a challenging period for the Company and the earnings were impacted by the higher impairment charges, improved notable items and the sharp decline in economic activity. Further, WBC incurred higher expenditures due to improved resourcing to handle COVID-19 demands and fixing the compliance issues.

At AEST 11:30 AM, WBC shares were trading at A$17.710, down by 1.117% from the previous close.

 

 


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