Australia's Westpac settles auto finance class action lawsuit for $81 million
Australia's Westpac Banking Corp has reached an A$130 million ($81.84 million) settlement on a class action lawsuit against the lender over commissions paid to auto dealers over five years, the bank said on Friday.
Australian lender Westpac reports 13% rise in first-quarter profit
Australia's Westpac Banking posted a 13% rise in its first-quarter net profit on Monday, helped by growth in customer deposits and housing and business loan volumes.
U.S. Dollar Index at 110 could trigger euro parity: Westpac
Richard Franulovich of Westpac Institutional Bank believes the euro still has some room to breathe before it hits parity with the U.S. dollar, amid multiple fiscal uncertainties in Germany and France.
Westpac admits to overcharging more than 24,000 customers in New Zealand
New Zealand's financial regulator on Monday said that Australian lender Westpac's local unit admitted to overcharging and misleading more than 24,000 personal and business customers by not providing advertised discounts and benefits.
Westpac Annual Profit Falls 3%, But Upbeat on Prospects
The lender said its annual net profit fell by 3%, but signaled hopes that demand for housing and business credit will rise in 2025 as Australia's central bank joins global counterparts in cutting interest rates.
Australian lender Westpac's annual profit falls 3%, increases buyback
Australia's Westpac Banking Corp reported a 3% fall in annual profit on Monday, due to rising costs and intense competition in the mortgage market, while it increased its buyback program by an additional A$1 billion.
Australia's Westpac appoints Peter Herbert as acting CEO of business segment
Australia's Westpac said on Thursday Peter Herbert will be appointed as acting chief executive for its business and wealth segment, effective Nov. 5.
Westpac flags $82 mln hit to FY24 net profit from notable items
Westpac Banking Corp , Australia's third-largest lender by market value, said on Tuesday its 2024 net profit would take a A$123 million ($82.26 million) hit due to impacts from certain notable items.
Australia's Westpac to sell auto finance loan book to Resimac Group
Westpac Banking Corp said on Thursday it would sell its auto finance loans book to non-bank lender Resimac Group for an expected value of A$1.4 billion ($963.62 million) to A$1.6 billion at completion.
Westpac appoints Anthony Miller as new chief executive officer
Westpac has appointed Anthony Miller as chief executive officer and managing director, the Australian bank said on Monday.
Westpac posts steady third-quarter profit, helped by higher capital earnings
Australia's Westpac Banking Corp said on Monday its third-quarter net profit was largely in line with a year ago, as increased earnings from capital and hedged deposits counterbalanced rising expenses and bad loans.
