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BRIEF-Westpac Banking announces strategy update

Published 07/09/2015, 08:43 am
Updated 07/09/2015, 08:47 am
© Reuters.  BRIEF-Westpac Banking announces strategy update
WBC
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Sept 7 (Reuters) - Westpac Banking Corp WBC.AX :

* Unlocking Westpac's potential WBC.AX

* Increasing annual investment spend by 20% to around $1.3 billion; directed towards service, growth and efficiency initiatives"

* Says targeting expense to income ratio, below 40% within 3 years

* Adding over 1 million new customers (2015-2017) and increasing the number of products per customer

* Reaffirming target roe above 15%"

* Increased investment will be supported by a complementary efficiency program, which will reduce group's expense growth run-rate to 2-3% per annum"

* Source text for Eikon ID:nASX6lDky1

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