westpac big

Westpac Banking Corporation

(WBC)

ASX

Recommendation:

Buy

Share Price:

AUD

Market Cap:

$

Westpac: Weaker Cost target

8 November 2022

Westpac shares fell after reporting a 1.0% decline in its 2022 cash profit to $5.276 billion. Additionally, the bank noted the many uncertainties facing the company and their clients, including high inflation and rapidly rising interest rates however, they had not yet registered an increased in hardship or stressed assets. Most parts of the result were mostly inline but given the strong run in bank stocks over the last month investors were expecting better net interest margins towards the close of the year.

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Recommendation:

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Share Price:

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Market Cap:

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