Nov 2 (Reuters) - Westpac Banking Corp WBC.AX :
* FY STATUTORY NET PROFIT $2,290M, DOWN 66%
* ARE ADDRESSING ISSUES THAT HAVE IMPACTED PERFORMANCE IN OUR MORTGAGE BOOK AND EXPECT TO SEE IMPROVEMENT START TO FLOW IN 2021
* EXPECTED ECONOMIC GROWTH TO IMPROVE THROUGH 2021 AND 2022, UNEMPLOYMENT WOULD REMAIN ELEVATED FOR SOME TIME
* MORE THAN TWO THIRDS OF WESTPAC'S MORTGAGE CUSTOMERS WHO DEFERRED REPAYMENTS HAVE NOW RE-COMMENCED REPAYMENTS
* "WE REMAIN IN AN UNCERTAIN ECONOMIC ENVIRONMENT, HOWEVER RECENT BUDGET HAS PROVIDED SIGNIFICANT STIMULUS TO BUSINESSES AND HOUSEHOLDS"
* REMAINED WELL CAPITALISED WITH A STRONG BALANCE SHEET AND AMPLE LIQUIDITY TO CONTINUE TO SUPPORT ITS CUSTOMERS
* INTENDING TO RETURN TO HALF YEARLY DIVIDEND CYCLE
* AIMING FOR MORTGAGE GROWTH IN LINE WITH MAJOR BANKS BY 2H21
* ECONOMIC FORECASTS FOR SYSTEM BUSINESS LENDING EXPECTED DECLINE OF ABOUT 3.5% IN FY21
* LIFE INSURANCE EARNINGS LIKELY TO REMAIN UNDER PRESSURE IN FY21
* LOW INTEREST RATES EXPECTED TO IMPACT DEPOSIT SPREADS AND EARNINGS ON HEDGED BALANCES IN FY21