Westpac's Technology, Costs Likely Understood by Market -- Market Talk

Dow Jones04-22

2324 GMT - Westpac is Citi's most preferred Australian major bank, which thinks that the risks around the lender's technology and costs are broadly understood. In a note, analysts Brendan Sproules and Thomas Strong add that capital management offers support to the stock. Citi now has sell calls on all of Australia's big banks. Still, its order of preference is Westpac, ANZ, Commonwealth Bank and NAB. It highlights that NAB, with a new CEO, faces the prospect of slowing business growth and decisions over how to invest capital. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

April 21, 2024 19:24 ET (23:24 GMT)

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