|Bid||0.00 x 28000|
|Ask||0.00 x 800|
|Day's Range||21.56 - 21.75|
|52 Week Range||20.52 - 26.38|
|PE Ratio (TTM)||12.44|
|Forward Dividend & Yield||1.41 (6.32%)|
|1y Target Est||21.78|
Moody's Investors Service says that the Australian Prudential Regulation Authority's (APRA) release of a discussion paper proposing two options to improve the transparency, comparability and flexibility of Australia's bank capital framework would be credit positive because each would improve the comparability of the banks' capitalisation to their global peers. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Moody's Investors Service ("Moody's") has assigned the following definitive long-term ratings to the Notes issued by Liberty Funding Pty Ltd in respect of the Liberty Series 2018-1 SME. The transaction is a securitisation of mortgage loans to self-managed superannuation funds (SMSFs), small-to-medium-sized enterprises (SMEs) and individuals, originated by Liberty Financial Pty Limited (Liberty, unrated).
National Australia Bank (NAB.AX) will compensate thousands of pension fund customers who had paid for advice they did not receive, Australia's financial-sector inquiry heard on Monday as it turned its sights on the pension industry. The first day of hearings into Australia's A$2.6 trillion (£1.46 trillion) pension system heard that a unit of NAB, the country's fourth-largest bank, had charged customers "plan service fees" for advice they did not receive. The misconduct occurred between 2012 and 2017 and affected more than 220,000 customers, barrister assisting the inquiry, Michael Hodge, said.
Just two of Australia's 30 highest fee-charging pension funds are ranked in the country' top 30 performing funds, according to a Reuters analysis, a disconnect likely to come under scrutiny when managers face a powerful inquiry into financial misconduct which restarts on Monday. Managers of nearly a third of Australia's $2 trillion (£1.54 trillion) in retirement savings will have their performance scrutinised at the so-called Royal Commission into financial misconduct, which has already roiled the banking and funds management industry. Concerns over fees and performance have generated a groundswell of consumer disquiet in Britain and the United States about the vague language retirement funds use to justify lacklustre performance.
Frances Cheung, Westpac's head of Asia strategy, discusses China's fiscal stimulus with Bloomberg's Yvonne Man and Ramy Inocencio on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
The banking sector -- and bank stocks -- saw an intriguing reversal in the 21st century. For most of the latter 20th century, banks generally paid depositors a higher rate of interest than bank stocks paid in dividend yields. This trend reversed soon after the turn of the century and became more pronounced after the 2008 financial crisis. Beginning in the early 2000's, interest-rate cuts gave bank stock investors dividend yields that exceeded the rates depositors earned in interest. Although interest rates have begun to gradually move higher in recent months, bank-deposit interest rates remain extremely low by any measure. Fortunately, some banks pay the 5+% returns comparable to bank and CD rates in the 20th century. These 5 stocks show that earning substantial cash payouts from banks remains possible -- if investors take a chance on bank stocks. SEE ALSO FROM KIPLINGER: 10 of the Best Financial Stocks to Buy Now
HONG KONG, July 24 (Reuters) - Australia's second-biggest lender Westpac Banking Corp said on Tuesday it had appointed Anita Fung, a former senior banker with HSBC Holdings Plc, to its board as an independent ...
Moody's Investors Service says that measures proposed by the Australian Securities and Investments Commission (ASIC) to limit unsuitable credit card lending would help reduce asset quality risk at the country's banks, a credit positive. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. "We expect banks will review their credit card lending practices, with a particular focus on improving debt serviceability and reducing the number of borrowers with persistent loan balances on high interest rate products," says Si Chen, a Moody's Associate Analyst.
The banking sector — and bank stocks — saw an intriguing reversal in the 21st century. This trend reversed soon after the turn of the century and became more pronounced after the 2008 financial crisis. Beginning in the early 2000’s, interest-rate cuts gave bank stock investors dividend yields that exceeded the rates depositors earned in interest.
Attractive stocks have exceptional fundamentals. In the case of Westpac Banking Corporation (ASX:WBC), there’s is a dependable dividend payer that has been able to sustain great financial health over theRead More...
A trade war between the U.S. and China looks inevitable. Discover three country ETFs that look set to benefit from China's retaliatory tariffs.
Moody's Investors Service ("Moody's") has today assigned Counterparty Risk Ratings (CRRs) to 24 banks in Australia indicated at the end of this press release. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. Moody's Counterparty Risk Ratings are opinions of the ability of entities to honour the uncollateralized portion of non-debt counterparty financial liabilities (CRR liabilities) and also reflect the expected financial losses in the event such liabilities are not honoured.
An Australian regulator filed a lawsuit against No. 2 lender Westpac Banking Corp over a financial planner it alleges gave poor advice for years, upping its scrutiny of a sector already under fire amid an embarrassing public inquiry. Australia's A$5 billion ($3.7 billion) financial planning sector has provided some of the most damning evidence at an inquiry into finance sector misconduct, ordered by the government after a string of banking scandals including fraud. Amid the backlash, the Australian Securities and Investments Commission (ASIC) on Friday said it filed a Federal Court lawsuit alleging that Westpac was liable for a financial planner in its employment failing to act in the best interests of customers, as well as for the planner's inappropriate financial advice and failure to prioritise the client interests.
Measuring Westpac Banking Corporation’s (ASX:WBC) track record of past performance is a useful exercise for investors. It enables us to understand whether or not the company has met or exceedRead More...
Australia's Westpac Banking Corp (WBC.AX) was cleared by a court of accusations it rigged a key rate to boost profit, but the win on Thursday against a regulator was dampened by an additional finding of unconscionable conduct by the bank. The mostly favourable ruling for the No. 2 Australian lender was a rare bright spot for an industry facing daily allegations of malfeasance and fraud in a year-long public inquiry that has wiped billions of dollars from companies' market values. It also puts pressure on the Australian Securities and Investments Commission (ASIC), which brought the case against Westpac, to step up its policing.
Moody's Investors Service says that Australia's four major banks reported steady results in their latest earnings announcements, but that pockets of weakness are apparent in terms of higher mortgage arrears and ongoing margin pressure in their institutional businesses. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. "We expect tighter loan underwriting and a slowing housing market will see credit growth moderate over the next 18 months, which could further challenge their performance," says Daniel Yu, a Moody's Vice President and Senior Analyst.
Westpac Banking Corp. has been cleared of manipulating a key Australian interest rate, even though it did engage in “unconscionable conduct” in attempting to influence the rate, a court ruled. The Australian Securities & Investments Commission had claimed Westpac sought to influence the bank bill swap rate -- which is used to price more than A$10 trillion ($7.6 trillion) in derivatives -- to benefit its trading positions.
Australia's Westpac Banking Corp (WBC.AX) admitted on Monday to signing up a legally blind pensioner as loan guarantor for her daughter's business without warning her of the risks, then threatened to evict her when the business failed. The testimony, given to a powerful inquiry into the country's financial sector, came as Australia's "big four" lenders all admitted to misconduct in their submissions to a third round of public hearings that focuses on loans to small businesses. Other transgressions included fraudulent loans and double-charging interest, the inquiry heard, a further hit to the sector's reputation after previous rounds of hearings uncovered widespread abuses in Australia's financial planning industry.
No. 2 Australian lender Westpac Banking Corp (WBC.AX) said on Friday it had been "too slow" to resolve customer complaints and had created an executive role to handle them, as the country's financial sector responds to revelations of serious misconduct. Australia's biggest money managers have seen their shares pounded by a barrage of damaging allegations since February, when a Royal Commission inquiry began exposing their abuse of market power and contempt of customers. Among other flagrant abuses spanning the entire industry, the inquiry heard that Westpac had given a bonus to an employee for work he did with a retired couple who lost their home as a result of following his advice.
When Australian mother Catherine racked up a A$1,500 credit card debt to spoil her three children at Christmas, she did not expect to be paying it off more than two decades later. It never reduced," said Catherine, who estimates she has paid the bank A$8,000 in fees, interest and debt payments. After Reuters contacted ANZ about Catherine's case, she said the bank offered to cancel her debt and pay her A$2,400.
Moody's Investors Service says that Westpac Banking Corporation's (Aa3/Aa3 stable, a2) results for the first half 2018 showed steady profit growth, driven by the strong performance of the bank's consumer and business divisions, while bad debt charges remained at exceptionally low levels. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. "The bank's balance settings and asset quality have also stayed very strong, but profitability -- while still healthy -- will face increasing challenges," says Daniel Yu, a Moody's Vice President and Senior Analyst.
As Australia’s housing market goes, so goes Westpac Banking Corp. What’s more, while its big three competitors – including National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. – have reduced their market share over the past year, Westpac has been expanding aggressively.
May.28 -- Sean Callow, senior currency strategist at Westpac Banking Corp., discusses the U.S. dollar, the Fed and his outlook for emerging markets. He speaks on "Bloomberg Daybreak: Asia."