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Record A$1 billion plus result expected for Westpac

Record A$1 billion plus result expected for Westpac

(Australia) – Westpac Banking Corp is expected to deliver another record first half profit when it reports later this week, with most analysts tipping the result will go over A$1 billion. Westpac is due to announce its results for the six months to March 31 on Thursday, and the profit is expected to top last year’s A$1.018 billion.

The home mortgage market is expected to be a key driver in the result, although the market will be looking at the performance of recently acquired wealth management operations BT Financial Group and NM Rothschild with interest.

Deutsche Bank is forecasting a A$1.031 net result, while JP Morgan’s Brian Johnson has said he expects A$1.019 billion after preference share dividends of A$33 million.
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