Connect with us

Hi, what are you looking for?

Stock

Westpac flags $82 million hit to FY24 net profit from notable items

(Reuters) – Westpac Banking (NYSE:WBK) 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.

The bank attributed the hit to the unrealised fair value gains and losses on economic hedges and net ineffectiveness on qualifying hedges recognised during the year.

Westpac, which had reported a net profit of A$7.195 billion for fiscal 2023, is scheduled to report its 2024 results Nov. 4.

($1 = 1.4952 Australian dollars)

This post appeared first on investing.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Economy

    Thousands of dockworkers on the East Coast and Gulf Coast will return to work after reaching a tentative agreement on wages, ending one of...

    Latest News

    Tunisians voted Sunday in an election expected to grant President Kais Saied a second term, as his most prominent detractors, including one of the candidates challenging...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com