Arab Today, arab today australia\s westpac net profit down 25
Last Updated : GMT 03:49:55
Arab Today, arab today
Arab Today, arab today

Australia\'s Westpac net profit down 25%

Arab Today, arab today

Arab Today, arab today Australia\'s Westpac net profit down 25%

Sydney - AFP

Australian banking giant Westpac posted a 25 percent slump in first-half net profits Thursday after last year's result was boosted by tax benefits from acquiring St George Bank. The result in the six months to March 31 came in at Aus$2.97 billion (US$3.06 billion), compared with a record profit of Aus$3.96 billion in the previous corresponding period. While net profit was down at Australia's second largest bank by market capitalisation, its first-half cash earnings, which strip out volatile items, were up one percent from a year earlier at Aus$3.19 billion. "This is a sound result in a challenging environment and reflects continued progress in building a stronger and more productive organisation," chief executive Gail Kelly said. "A highlight of these results is the strong performance of our two largest divisions -- Westpac retail business banking and Westpac institutional bank." The bank said while there had been volatility in the first half because of the European debt crisis, some stability had returned to financial markets, supported by a more positive US growth outlook. But it added that, overall, the global economy remained fragile. And while Australian fundamentals were sound, with low unemployment and controlled inflation, it said consumers remained cautious, preferring to save money and pay off debt. "In conclusion, having come through the global financial crisis in good shape, and while expecting volatile and challenging times to continue, Westpac Group is proactively positioning itself for continued success," it said. On Wednesday, fellow banking giant ANZ announced a first half net profit rise of 10 percent to Aus$2.92 billion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s westpac net profit down 25 Arab Today, arab today australia\s westpac net profit down 25

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australia\s westpac net profit down 25 Arab Today, arab today australia\s westpac net profit down 25

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 3,250 people killed in Raqqa battle

GMT 03:49 2017 Wednesday ,18 October

3,250 people killed in Raqqa battle
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday