Westpac Rebuilding Provisions to Pandemic-Era Highs -- Market Talk

Dow Jones04-15 10:51

0251 GMT - Westpac's response to the Iran conflict's impact on the Australian economy is seen by Jefferies analysts as a step toward major banks rebuilding their provisions toward pandemic-era highs. Jefferies had already updated estimates to reflect this scenario, and the investment bank's analysts say Westpac's new portfolio overlay for energy intensive sectors supports this expectation. They tell clients in a note that Westpac's provisioning will be just 8 basis points short of its pandemic-era peak. This is about 55 basis points above fiscal 2018 levels, they add. Jefferies raises its target price 0.1% to A$34.92 and keeps a hold rating on the stock, which is down 0.8% at A$41.14. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 14, 2026 22:51 ET (02:51 GMT)

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This is about 55 basis points above fiscal 2018 levels, they add. Jefferies raises its target price 0.1% to A$34.92 and keeps a hold rating on the stock, which is down 0.8% at A$41.14. 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