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BRIEF-Westpac Says To Not Pay H1 2020 Dividend

Published 18/08/2020, 08:08 am
© Reuters.
WBC
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Aug 18 (Reuters) - Westpac Banking Corp WBC.AX :

* BOARD HAS DECIDED NOT TO PAY A FIRST HALF 2020 DIVIDEND

* UNAUDITED CASH EARNINGS FOR 3Q20 WAS $1.32BN

* UNAUDITED STATUTORY NET PROFIT FOR 3Q20 WAS $1.12BN

* QTRLY IMPAIRMENT CHARGE $826M, FURTHER INCREASING PROVISIONS AND PROVISIONING COVER

* NET INTEREST MARGIN 2.05% FOR 3Q20

* COMMON EQUITY TIER 1 CAPITAL RATIO OF 10.80% AT 30 JUNE 2020

* SIGNIFICANT UNCERTAINTY REMAINS, PARTICULARLY GIVEN UNPREDICTABILITY OF COVID-19 OUTBREAKS AND THEIR LOCAL IMPACTS

* CONTINUE TO OFFER DEFERRAL SUPPORT WHERE NEEDED

* AS AT QUARTER-END, 78K ($30BN) MORTGAGES CURRENTLY IN DEFERRAL, DOWN FROM 135K ($51BN) RELIEF PACKAGES PROVIDED

* ARE WELL PROGRESSED IN CONTACTING CUSTOMERS, HAVING CHECKED IN WITH 85% OR 115,000 OF THOSE ON RELIEF PACKAGES

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