Westpac share price climbs as profit rebounds


SYDNEY: Westpac Banking Corp’s half-year profit climbed as a continued recovery in the nation’s economy drove a further reduction in pandemic loan-loss provisions at Australia’s second-largest lender.

Cash earnings rose to A$3.5bil (US$2.7bil or RM11bil) in the six months through March 31, compared with A$993mil in the same period a year earlier, the Sydney-based bank said in a statement yesterday. ‘

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Blistering solar growth runs into grid blocks
Opportunities in Kazakhstan and Uzbekistan
Hot-pot chain eyes global growth after strong US debut
Cocoa falls as better African weather eases supply concerns
UK central bank warns markets of change
Mega First sees better earnings for core ops
Krugman says he’s ‘fanatically confused’ on where rates are going
Fund says Indian bonds underpricing index move
India’s mid-tier firms gain share
Paytm signals job cuts, asset sales after regulatory probe

Others Also Read