2. Whilst every care has been taken in producing these numbers, InvestSMART does not guarantee the accuracy of the figures produced in the table. During the year Westpac made $280 million in payments to customers as part of its customer remediation program.
Westpac Banking Corporation (NYSE: WBK), (ASX: WBC): Westpac Group CEO, Peter King, said: “2020 has been a particularly challenging year and our financial result is disappointing. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. As alluded above, Westpac reported steep earnings declines across the board in 2020 – revealing statutory net profits of $2,290m (-66%), cash earnings of $2,608m (-62%) and earnings per share (EPS) of 72.5c (-63%). To obtain advice tailored to your particular circumstances, please contact a professional financial adviser. Will be held virtually on Friday, 11 December 2020 at 10:00am (Sydney time). Westpac share price: 2020 results and dividend examined, Get full exposure for a comparatively small deposit, Get greater order book visibility with direct market access, Analyse and deal seamlessly on fast, intuitive charts, See and react to breaking news in-platform.
For information about your Westpac shareholding you should contact the appropriate share registry. InvestSMART cannot determine whether or not franking has been included, nor if dividends have been reinvested.
The peer comparison figures have been sourced from Morningstar data and is therefore limited to the funds and investment products included in their database. The country, the banking sector and Westpac have been here before, but in different circumstances, and as before, recovery will re-emerge. Cash earnings were 62% lower mostly from an increase in impairment charges and a decline in net interest margin.
National Australia Bank Ld. Conditions, fees and charges apply. Twitter; Facebook; LinkedIn; GooglePlus; Pinterest; Dec 11 2019 08:31 GMT Source: RNS. Cash earnings were 64% lower primarily driven by higher impairment charges and a 26% decline in core earnings. Customer deposits were up 6% over the year, with the deposit to loan ratio now more than 80%. Registration for this event is available only to Eureka Report members.
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Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! This reflected our focus on fixing risk and compliance issues and responding to COVID-19, which involved higher call and processing centre volumes, returning activities to Australia and increased employee and customer safety measures. The FY20 final dividend is set to be paid on 18 December.
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These may change or we may introduce new ones in the future. Mr King said that COVID-19 was a once in a 100-year health and economic crisis and the near-term economic outlook would remain uncertain.
“We are also focused on reducing customer pain points, completing customer remediation as quickly as possible and reducing IT complexity. Consider its appropriateness to these factors before acting on it. View #February 2020.
Westpac launches Westpac Capital Notes 7 enquire here, What you need to know about Westpac as a new investor, See our full financial calendar for dates, Terms and Conditions or Product Disclosure Statement.
Financial reports. Finally and looking at how the pandemic has impacted the bank's loan book, Westpac reported that approximately 41,000 of its mortgage accounts are currently in deferral – equal to $16.6bn worth of loans. We examine the highlights from Westpac Banking Corporation’s just-released FY20 financial results.
This may not include all funds available for retail investment in Australia.
Head of Media Relations Lending criteria apply to approval of credit products. Ex dividend date: The first day of trading when shares trade without the entitlement to the dividend. Please refer to our Financial Services Guide for more information. Registration for this event is available only to Intelligent Investor members. It may take a few minutes to update your subscription details, during this time you will not be able to view locked content. 1. View. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Terms and Conditions or Product Disclosure Statement.