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BRIEF-Westpac Banking Corp Says H1 Cash Earnings To Take $357 Mln Additional Hit

Published 30/04/2019, 04:22 pm
© Reuters.  BRIEF-Westpac Banking Corp Says H1 Cash Earnings To Take $357 Mln Additional Hit
WBC
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April 30 (Reuters) - Westpac Banking Corp WBC.AX :

* CASH EARNINGS IN FIRST HALF 2019 WILL BE REDUCED BY $357 MILLION

* CO YET TO FINALISE REMEDIATION APPROACH WHICH MAY CHANGE FOLLOWING INDUSTRY AND REGULATOR DISCUSSIONS

* TOTAL IMPACT ON CASH EARNINGS IN FIRST HALF 2019 ASSOCIATED WITH PROVISIONS FOR CUSTOMER REMEDIATION PROGRAMS IS $617 MILLION

* $357 MILLION REDUCTION IN H1 CASH EARNINGS DUE TO ACCOUNTING PROVISIONS FOR AUTHORISED REPRESENTATIVES

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