Tag: WBC
Westpac losses hit home in $1.2 billion of charges
The cost of carelessness and COVID-19 continues to mount for big four bank Westpac with write-downs, a remediation bill and anti-money laundering breaches set to cost it $1.2 billion.
Before its re...
Afterpay joins forces with Westpac to offer banking-as-a-service to Australian customers
Buy now pay later (BNPL) juggernaut Afterpay (ASX: APT) has secured a deal with Westpac (ASX: WBC) to facilitate the introduction of savings accounts and cash flow tools for its 3.3 million Australian...
Banks go to war to lend money
First came the relaxation of bank lending standards, now get ready for the bank lending war.
The first shots have already been fired by the Commonwealth Bank (ASX: CBA) and ING which both shaved do...
Commonwealth Bank wins the battle of the coronavirus horror stories, predicts housing prices could fall 32%
You could have easily been mistaken in believing that Australia’s big four banks have been trying to outdo each other with horrifying predictions.
With the Commonwealth Bank (ASX: CBA) outdoing all...
Could banks emerge from the pandemic with a better outlook than expected?
Of the many share market gyrations we have seen since the COVID-19 pandemic began, some of the most dramatic have been Australia’s big four banks.
Bank share prices have absolutely plunged, with NA...
Bank dividends could be reduced or on hold during pandemic
Investors should prepare themselves for lower and possibly suspended dividends from the big banks and insurance companies after a raft of powerful forces combined to urge lower payouts.
First and m...
Westpac sued for 23 million breaches of anti-money laundering laws
Australia’s financial intelligence agency has launched legal action against Westpac Banking Corporation (ASX: WBC) for failing to report over $11 billion in international funds transfer transactions c...
Westpac cuts dividend following ‘disappointing’ full-year result, launches $2.5 billion capital raising
Shareholders in Westpac Banking Corporation (ASX: WBC) will cop a lowered annual dividend after the bank reported a 16% slide in profits to $6.78 billion for the 2019 financial year.
The nation’s s...
Australia’s big banks no longer a dividend yield certainty
For decades the not so secret investment rule was that you got a better yield by investing in banks than by depositing funds with them.
That may still be the case but it would be a mistake to take ...
Australian banks set to confess sins and cut dividends?
They say confession is good for the soul and there is going to be plenty of it over the next couple of weeks as three of Australia’s big banks outline their latest 2019 half year results.
ANZ (1 Ma...
Bank shares offer potential despite ongoing dramas and bank bashing
It is hard to remember a worse time to be a banker in Australia.
Indeed, you could excuse bankers for pretending to be used car salespeople or even journalists at parties, just so people didn’t att...
Westpac left to justify out-of-cycle interest rate hike as other banks may follow suit
A decision this week by Westpac Banking Corporation (ASX: WBC) to raise its variable home loan interest rate by 14 basis points in an effort to recoup an increase in its borrowing costs has raised hac...
