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westpac

Australia’s Westpac found guilty of misconduct in 2016 rate swap deal

January 30, 2024January 30, 2024
Australia's westpac found guilty of misconduct in 2016 rate swap deal - photo licensed by shore news network.

(Reuters) – Australia’s corporate regulator said on Wednesday that a court found Westpac engaged in unethical conduct while carrying out an A$12 billion ($7.88 billion) …

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Australia’s Westpac fails to sell pacific banking business

October 3, 2023
Australia's westpac fails to sell pacific banking business - photo licensed by shore news network.

(Reuters) – Australian lender Westpac said on Wednesday it had cancelled the sale of its Fiji and Papua New Guinea businesses, ending a years-long process …

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Australia’s Westpac splits consumer and business banking unit into two

July 19, 2023
Australia's westpac splits consumer and business banking unit into two - photo licensed by shore news network.

(Reuters) – Westpac Banking Corp on Wednesday said it would split its consumer and business banking business into two, with each having its own CEO, …

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Westpac hires RBA assistant gov Luci Ellis as chief economist

July 10, 2023July 10, 2023
Westpac hires rba assistant gov luci ellis as chief economist - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s central bank is set to lose a top official to the private sector amid a broader shake-up that could soon see …

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Westpac raises Australia cash rate peak forecast to 4.6%

June 16, 2023
Westpac raises australia cash rate peak forecast to 4. 6% - photo licensed by shore news network.

SYDNEY (Reuters) – Westpac on Friday lifted its forecast for Australia’s cash rate peak to 4.6%, tipping quarter-point hikes in July and August, joining other …

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Westpac to layoff 300 workers in business and retail unit, says trade union

June 11, 2023
Westpac to layoff 300 workers in business and retail unit, says trade union - photo licensed by shore news network.

(Reuters) – Australian lender Westpac Banking Corp will cut around 300 jobs in its consumer and business banking segments at a time of strong profit …

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Australia’s CBA, Westpac expect rate-hike pause in April; other top banks vary

March 29, 2023
Australia's cba, westpac expect rate-hike pause in april; other top banks vary - photo licensed by shore news network.

(Reuters) – Commonwealth Bank of Australia (CBA) expects the country’s central bank to pull brakes next week on one of the most aggressive tightening cycles …

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Australia’s Westpac posts lower CET1 ratio as provisions rise

February 16, 2023
Australia's westpac posts lower cet1 ratio as provisions rise - photo licensed by shore news network.

(Reuters) – Westpac Banking Corp said on Friday its common equity tier-1 ratio in the first quarter fell sequentially as the lender increased provisions for …

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Australia’s Westpac sees $824 million hit in second half from unit sale

October 24, 2022October 24, 2022
Australia's westpac sees $824 million hit in second half from unit sale - photo licensed by shore news network.

(Reuters) – Australia’s Westpac Banking Corp warned on Monday that its second-half reported net profit and cash earnings will be reduced by A$1.3 billion ($824 …

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Australia’s top banks eye payments firm Tyro as housing market cools

October 17, 2022

By Shashwat Awasthi and Byron Kaye (Reuters) -Three of Australia’s biggest banks are considering a bid for payment terminals firm Tyro, underscoring the importance of …

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Jack Dorsey’s Block ends Afterpay smartphone tie-up with Australia’s Westpac

August 26, 2022
Jack dorsey's block ends afterpay smartphone tie-up with australia's westpac - photo licensed by shore news network.

SYDNEY (Reuters) – Afterpay, the Australian payments firm bought by Jack Dorsey’s Block Inc, and Australia’s Westpac Banking Corp ended a partnership after the firm …

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Westpac to sell one financial advisory business, merge unit’s funds with Mercer Super Trust

May 25, 2022
Westpac to sell one financial advisory business, merge unit's funds with mercer super trust - photo licensed by shore news network.

(Reuters) – Westpac Banking Corp said on Thursday it would sell one of its financial advisory businesses, Advance Asset Management, to pension fund Mercer Australia, …

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Australian lender Westpac fined A$113 million for multiple compliance breaches

April 22, 2022
Australian lender westpac fined a$113 million for multiple compliance breaches - photo licensed by shore news network.

(Reuters) – An Australian court ordered Westpac Banking Corp to pay A$113 million ($82.92 million) in penalties for multiple compliance failures across its businesses, after …

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Australia’s Westpac unit penalised for charging incorrect insurance fees

April 8, 2022
Australia's westpac unit penalised for charging incorrect insurance fees - photo licensed by shore news network.

(Reuters) – Australia’s Federal Court on Friday ordered lender Westpac Banking Corp’s superannuation agent to pay A$20 million ($14.96 million) in penalty for incorrect insurance …

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