Westpac Unveils World’s first Blockchain Procurement related Project Plans

Westpac Banking Corporation (ASX: WBC) is in the business of providing financial and banking services in Asia pacific region, New Zealand, Asia, Australia and internationally. Westpac is eying to be a global leader in Block chain technology. The company has developed it’s first proof of concept which is an integration of data analytics, internet of things, artificial intelligence and blockchain. The proof of concept will help in digitizing inventory management, trade and procurement. This system will be able to forecast the prices and demand of goods. It will also make the payment and procurement process automatic. Through the use of artificial intelligence, the blockchain technology will be able to make a purchase at the right moment and execute the stock orders automatically. The General Manager of the company has expressed that they want this technology to become more mature before commercializing it and it was important for the company to be in leading position in the Blockchain development. Blockchain technology can help the company in becoming more efficient and can reduce the expenses in the long run. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]

Meanwhile, the group has been performing decently despite the banking sector challenges. In the first half of the FY 2018, the statutory net profit was $4,198m which was 7% more than the first half last year. The company is having a Cash earnings of $4,251m which is 6% increase from the first half of last year. Cash earning per share is 123 cents this year which is 4% higher than the previous year’s first half. Net interest income of Westpac increased $665m from the first half of FY 2017. Due to the decrease in the individual provision for larger facilities, the operating charges of the company were 20% lower than H1 2017. Due to increase in the salary and technology expenses and rise in regulatory cost the operating expenses increased by $92m. Westpac declared interim dividend of 94 cents which was paid on 4th July 2018. Total loan of the company was increased by $34.4 billion. The total customer deposits increased by $23.4 billion which is 5% more than the first half of FY 2017. Company witnessed an increase of $1.8 billion in the certificates of deposits in the first half of FY2017. Advances in the digital technology is helping company to improve the customer experience and improve productivity and risk management at the same time. Westpac’s share price declined by 0.036% on 18 September 2018; and the same traded at $27.89 with market capitalization of 95.83bn as on 18 September 2018.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content 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 stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music 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/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
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