Westpac Banking Corp: Inflation defeats FY24 cost target

About the author:

Nathan Lead
Author name:
By Nathan Lead
Job title:
Senior Analyst
Date posted:
09 May 2023, 6:30 AM
Sectors Covered:
Infrastructure, Utilities, Banks

  • Westpac Banking Corp (ASX:WBC) delivered solid 1H23 earnings growth, a lift in ROE, a step-up in DPS, and finished the period with a strong capital and liquidity position. The NIM leverage and stepping away from the FY24 cost target were the disappointments.
  • ADD retained. Target price reduced to (login to view).

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