Westpac's Core Earnings Outlook May Outpace Peers -- Market Talk

Dow Jones05-07

2335 GMT - While Westpac's 1H FY 2024 results were largely in-line, Citi analysts Brendan Sproules and Thomas Strong say there were plenty of positive signs in the details. For example, in a note they say that Westpac's net interest margin looks to have been better managed than peers, while loan growth is expected to be resilient and in the mid-single digits. Costs will head higher, albeit FY 2025 consensus of A$11.37 billion "looks in the ballpark," says Citi. It adds that "these items indicate a more resilient core earnings outlook than peers."(alice.uribe@wsj.com)

(END) Dow Jones Newswires

May 06, 2024 19:35 ET (23:35 GMT)

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