|Bid||32.12 x 6729300|
|Ask||32.25 x 161300|
|Day's Range||31.98 - 32.30|
|52 Week Range||28.56 - 35.39|
|PE Ratio (TTM)||14.50|
|Dividend & Yield||2.06 (8.02%)|
|1y Target Est||N/A|
Westpac (WBC.AU) has responded to new rules limiting interest-only loans, with the Australian bank seeing a surge in borrowers switching into interest-and-principal home loans. Australia's second biggest bank by market capitalization should see the flow of interest-only loans fall below the 30% maximum recently demanded by the Australian Prudential Regulation Authority (APRA) by the September quarter. Interest-only applications fell to 36% of flow in the third quarter. Applications for interest-only loans had risen as high as 49% in the first quarter of the bank's 2017 financial year.
Categories: Yahoo FinanceGet free summary analysis Our analysis is based on comparing Westpac Banking Corp. with the following peers – Australia and New Zealand Banking Group Limited, National Australia Bank Limited, Commonwealth Bank of Australia and Bank of Queensland Limited (ANZ-AU, NAB-AU, CBA-AU and BOQ-AU). Dividend Quality Overview Dividend quality trend has not been consistent over the ... Read more (Read more...)
Australia and New Zealand Banking Group (ANZ) unveiled a strong third quarter update on Tuesday. ANZ (ANZ.AU) reported a 5.3% increase in cash profit of AUD1.79 billion, while pre-provision operating profit (PPOP) increased 0.3%. The bank reported customer growth of 2.3% and net lending asset growth of 2% during the quarter.