Money
Australia’s big four banks are bouncing back from COVID
One of Australia’s big four banks has shown its resilience during the pandemic, so what is Westpac’s profit?
The big four Australian bank posted a 256 per cent increase in profit over the previous year.
Westpac posted half year cash earnings of $3.54 billion.
The bank announced an interim dividend of 58 cents per share.
Westpac last week flagged that $282m in significant items would be included in the half-year result – for customer refunds and litigation.
ANZ releases its half year result on Wednesday, followed by NAB on Thursday.
The results beat predictions by analysts – they had tipped cash earnings of $3.34bn for Westpac, more than triple the interim profit it handed down a year ago.