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Westpac, Australia's fourth-largest bank, reports 12% rise in net profit for half-year

Westpac, Australia's fourth-largest bank, reports 12% rise in net profit for half-year

Westpac Banking Corp., Australia's fourth-largest bank, reported Thursday a 12 percent in net profit for the six months to March 31, to a record 1.64 billion Australian dollars (US$1.35 billion; euro990 million).
Chief executive David Morgan said the "result was driven by a good performance across Australian banking and an outstanding performance in our wealth management business."
Westpac reported A$1.49 billion (US$1.23 billion; euro910 million) for the year-earlier period.
Westpac said it will pay a first half dividend of 63 cents, up from 56 cents a year earlier.
The bank's cash profit, a smoothed measure closely watched by analysts, rose 11 percent to A$1.68 billion (US$1.38 billion; euro1.02 billion), slightly ahead of market expectations.


Updated : 2021-06-14 01:21 GMT+08:00