Original article by Joyce Moullakis
The Australian – Page: 13 & 17 : 5-May-20
Westpac has reported cash earnings of $993m for the first half of 2019-20, which is 70 per cent lower than previously. As previously flagged, the half-year result was marred by impairment charges totalling $2.23bn, including some $1.6bn for coronavirus-related loan losses. Westpac has deferred a decision on the payment of an interim dividend, while CEO Peter King has urged the national cabinet to move quickly to restart the economy when the pandemic abates. He has forecast a V-shaped economic recovery in 2021.
WESTPAC BANKING CORPORATION – ASX WBC