(3 May 2012 – Australia) Westpac (WBC) has recorded a 1 percent rise in cash earnings for the six months to March 31 to post a profit of A$3.19 billion, which Gail Kelly, Westpac’s CEO has described as ‘sound’ in the challenging banking environment.WBC’s operating income rose 5 percent but expenses increased at a sharp 4 percent compared with the same six month period last year.
Westpac announced a fully franked interim dividend of 82c a share, up 3 percent on the prior half.
In a statement to the Australian Securities Exchange, Mrs Kelly said the bank continued to strengthen its position “with increased capital, an improved funding profile and excellent asset quality”.