Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Westpac Banking Corp    WBC   AU000000WBC1

End-of-day quote. End-of-day quote  - 09/28
29.92 AUD   -0.13%
02:50a WESTPAC BANKING : Dividend/Distribution - WBCPF
02:45a WESTPAC BANKING : Dividend/Distribution - WBCPE
09/27 WESTPAC BANKING : Change in substantial holding for UGL
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Westpac Subsidiary St George Cuts Variable Home Loan Rate By 38 BPs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/04/2012 | 04:03am EDT

Westpac Banking Corp. (>> Westpac Banking Corporation) subsidiary St. George Banking Group Friday passed on a bigger slice of this week's rate cut from the central bank to its customers than its parent.

From May 14, St. George will cut its standard variable home loan rate by 0.38% to 7.04% a year, the bank said in a statement. That's equivalent to reducing repayments on a A$250,000 mortgage by A$732 a year, the bank said.

Westpac, Australia's second-largest bank by market value, earlier said it will cut its standard variable mortgage rate by 37 basis points to 7.09%, joining its major peers Commonwealth Bank of Australia (>> Commonwealth Bank of Australia) and National Australia Bank Ltd. (>> National Australia Bank Ltd.) in passing on only part of the Reserve Bank of Australia's 50 basis-point rate cut.

"Since September 2011, St.George has cut its variable mortgage rate by 0.76%, equating to an annual saving of A$1,476 on an average home loan," said Chief Executive George Frazis in a statement.

On Friday, St. George reported a 7% drop in net-cash earnings in the first half of fiscal 2012 to A$569 million. Westpac reported a rise in its cash earnings in the first half of fiscal 2012 to a record A$3.12 billion this week, slightly above the consensus analyst forecast of A$3.11 billion.

-By Caroline Henshaw, Dow Jones Newswires; 61-2-8272-4689; caroline.henshaw@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WESTPAC BANKING CORP
02:50a WESTPAC BANKING : Dividend/Distribution - WBCPF
02:45a WESTPAC BANKING : Dividend/Distribution - WBCPE
09/27 WESTPAC BANKING : Change in substantial holding for UGL
09/27 WESTPAC BANKING : Change in substantial holding for TRS
09/25 WESTPAC BANKING : Appendix 3B
09/21 WESTPAC BANKING : Self-Funding Instalments over securities in CWN
09/20 WESTPAC BANKING : Todays Top Gainers in the Market Westpac Banking Corporation f..
09/19 WESTPAC BANKING : 259C Exemption Notice
09/19 WESTPAC BANKING : Self-Funding Instalments over securities in NCM
09/15 BT INVESTMENT MANAGEMENT : BTIM appoints new J O Hambro CEO
More news
Sector news : Banks - NEC
05:06pDJWELLS FARGO : California Treasurer to Suspend Some Business With Wells Fargo -- ..
04:49pDJWELLS FARGO'S CLAWBACK : Politicians, Pay Experts Dig In
04:07pDJAnalysts See 57 Billion-Cubic Feet Rise in U.S. Natural-Gas Inventories
04:00pDJJPMORGAN CHASE : Ban Business Dinners and 7 Other Career Tips From the CEOs of G..
03:28pDJWELLS FARGO : Yellen Pressed to Scrutinize Big Banks in Wake of Wells Fargo Scan..
More sector news : Banks - NEC
News from SeekingAlpha
09/15 The Australian Market Is Looking Like A Bargain Now
08/23 AUSTRALIAN BANKS REVISITED : A Good Moment To Increase The Short
06/02 U.S. Hedge Funds And The Big, Bad Aussie Short That Could Render Them Broke
05/25 AUSTRALIAN BANKS : On Thin Ice
05/16 Westpac And The Australian Housing Bubble
Advertisement
Financials ( AUD)
Sales 2016 21 309 M
EBIT 2016 11 806 M
Net income 2016 7 705 M
Debt 2016 -
Yield 2016 6,25%
P/E ratio 2016 13,10
P/E ratio 2017 12,47
Capi. / Sales 2016 4,70x
Capi. / Sales 2017 4,49x
Capitalization 100 251 M
More Financials
Chart WESTPAC BANKING CORP
Duration : Period :
Westpac Banking Corp Technical Analysis Chart | WBC | AU000000WBC1 | 4-Traders
Full-screen chart
Technical analysis trends WESTPAC BANKING CORP
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 31,7  AUD
Spread / Average Target 5,8%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Brian Hartzer Chief Executive Officer, Executive Director & MD
Lindsay Philip Maxsted Chairman
Peter King Chief Financial Officer
David Curran Chief Information Officer
Robert Wilson Chief Technology Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WESTPAC BANKING CORP-9.57%77 845
JPMORGAN CHASE & CO.0.50%237 596
INDUSTRIAL AND COML BA..-3.71%232 549
WELLS FARGO & CO-17.05%226 444
CHINA CONSTRUCTION BAN..-10.73%186 893
BANK OF AMERICA CORP-9.15%153 990
More Results