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Westpac Profit Hits Expectations, Lifts Buyback by $661 Million

Westpac Sees Drop in Stressed Assets, Lower Australian Rates

Westpac Sees Drop in Stressed Assets, Lower Australian Rates

(Bloomberg) Westpac Banking Corp. saw a reduction in stressed assets as it reported profit for the quarter, with Chief Executive Officer Peter King noting that Australian interest rates will likely decrease over the coming year.Most Read from BloombergTrump Keeps NY Empire Intact as Judge Rescinds Asset-Sale OrderRecord US Stock Rally Is Under Threat From a World in TurmoilSystemic Risk Concerns Grow Among Money Managers as Real Estate Woes Cause TurmoilTop Investors Share the Toughest Lesson

Westpac May Lose Laggard Status After Buyback and Dividend Hike

(Bloomberg) Westpac Banking Corp.’s higher dividend and stock buyback puts the Australian lender on course to narrow its share-price under performance compared to peers. Most Read from BloombergAmazon’s Jeff Bezos Announces Move to Miami From SeattleSam Bankman-Fried Convicted of Fraud in Stunning FTX CrashBiggest Cross-Asset Rally This Year Takes Wall Street by StormIceland’s Blue Lagoon on Alert for Magma Flows After EarthquakesIsrael’s Fight With Iran Proxies in Syria Poisons Russia TiesTh

Westpac Bank Lifts Dividend, Will Start $980 Million Buyback