Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

84 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

WBC, WESTPAC BANKING CORPORATION
ShareCafe Admin
post Posted: Sep 15 2021, 09:52 AM
  Quote Post



Posts: 265
Thanks: 18


New article up.

PNG Ruling Leaves Westpac Stranded

Thanks

Admin


Said 'Thanks' for this post: early birds  
 
ShareCafe Admin
post Posted: Aug 12 2021, 09:26 AM
  Quote Post



Posts: 265
Thanks: 18


New article up.

More Regulatory Trouble for Westpac

Thanks

Admin


Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Aug 9 2021, 11:18 AM
  Quote Post


Posts: 13,830
Thanks: 1609


WESTPAC SELLS AUSTRALIAN LIFE INSURANCE BUSINESS TO TAL
Westpac today announced it has agreed with TAL Dai-ichi Life Australia Pty Limited (“TAL”) to sell
Westpac Life Insurance Services Limited and enter an exclusive 20-year strategic alliance for the
provision of life insurance products to Westpac’s Australian customers.
The sale price of $900m represents a multiple of 0.96x FY20 embedded value1. In addition, the
transaction includes ongoing payments to Westpac.2
The transaction sees Westpac exit manufacturing life insurance products and releases significant
capital back to the bank. The total accounting loss on sale is approximately $1.3 billion post-tax, while
the transaction will add approximately 12 bps to Westpac’s Level 2 common equity Tier 1 capital ratio.
A post-tax loss of c.$0.3 billion, reflecting predominantly transaction and separation costs, is expected
to be realised in the Group’s FY21 results, while the balance of the loss will be recognised on
completion of the sale.
TAL is a fully owned subsidiary of the Dai-ichi Life Group which is one of the world’s leading life
insurers.
Westpac Group Chief Executive Specialist Businesses & Group Strategy, Jason Yetton, said: “This
transaction is another step in simplifying the bank while continuing to help customers with their life
insurance needs by partnering with TAL.
“Life insurance is an important product for many Australians and this sale provides certainty for
customers and new opportunities for our people with TAL.
“TAL already offers insurance products to more than 4.5 million Australians and is well placed to help
Westpac’s customers protect the people they love”.
Westpac will retain responsibility for certain pre-completion matters and provide protection to TAL
through a combination of provisions, warranties and indemnities.
Completion of the transaction is subject to various regulatory approvals and is expected to occur in
the second half of the 2022 calendar year

==============================

looks more divy is on the way.... tongue.gif

 
nipper
post Posted: Aug 6 2021, 01:29 PM
  Quote Post


Posts: 10,050
Thanks: 2814


In Reply To: early birds's post @ Jul 6 2021, 10:33 AM

Ally Selby (Livewire Markets): First up, we have Westpac, which analysts believe is set to return $8 to 10 billion to shareholders over the coming months. I will start on you, Don. Is it a buy, hold or sell?

Don Hamson (Plato): Right now, from us, it is a hold. We do like the banks and we do think they will be increasing their dividends, but we would probably put a couple of the others ahead of Westpac at the moment. So, it is a hold from us.

Ally Selby (Livewire Markets): Neil, it has an annual yield of around 3.6 per cent, but its share price has been down around 17 per cent over the past five years. What do you think? Is it a buy, hold or sell?

Neil Margolis (Merlon Capital): Look, it is a buy for us. I mean, just putting it next to CBA is very stark. It has got so many levels of surplus capital, say $8 to $10 billion, similar for franking. But its market value is $90 billion, and CBA is $180 billion. So it is quite extraordinary.

One of the reasons it is a lot cheaper is because they have lost control of their costs. So they do need to get their costs under control. They have had much more management turnover. But putting that all aside, I think there is a big opportunity to take cost out, and the dividends look pretty safe to us. I mean, at a sector level, I had a look today, the four major banks spent $36 billion a year on costs, which is roughly the same as the Afterpay valuation. And I am not sure which number actually astounds me more.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Jul 6 2021, 10:33 AM
  Quote Post


Posts: 13,830
Thanks: 1609


In Reply To: nipper's post @ Jul 5 2021, 08:52 AM

https://www.afr.com/companies/financial-ser...20210706-p5875m

Westpac has sold its New Zealand life insurance business to Fidelity Life after shaking hands on a $373 million deal and a 15-year distribution agreement.

=================

fundies start to ramping my be loved stock!! lmaosmiley.gif



 
nipper
post Posted: Jul 5 2021, 08:52 AM
  Quote Post


Posts: 10,050
Thanks: 2814


In Reply To: early birds's post @ Jul 5 2021, 08:43 AM

I wonder what the repercussions of this will be. One reason some customers (sounds like BT not shareholders) having an adviser in the middle, is that they either don't want and/ or don't understand the complexity of continuous disclosure. .



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 


early birds
post Posted: Jul 5 2021, 08:43 AM
  Quote Post


Posts: 13,830
Thanks: 1609


https://www.sharecafe.com.au/2021/07/04/wes...pots-of-bother/

In an earlier statement on Friday ASIC said Westpac will pay around $87 million in compensation to about 32,000 customers whose financial advisers failed to notify them of market-sensitive information about their shareholdings over a fourteen-year period.

================

from our own sharecafe!!

hunting for last 14 years fraud ?? unsure.gif



 
nipper
post Posted: May 4 2021, 10:20 AM
  Quote Post


Posts: 10,050
Thanks: 2814


In Reply To: early birds's post @ May 4 2021, 10:03 AM

According to Westpac’s shareholder update on Monday, there were $49.6 billion in funds on Panorama’s platform at the end of March, with 115,369 investors and 3535 active advisers. Panorama’s customers increased significantly in the period, as Westpac started moving its BT Wrap clients on to the platform. That transition is due to be completed by the end of June.

the Panorama platform was the bee's knees, in that it allowed for multiple asset classes. BT spent a lot of time and getting it right. But I fear the treatment of clients if it moves to new ownership .... the tendency to gouge fees, clip tickets, etc is never ending. Sadly, client money, and most of it is either in SMSF or other Super products or other longer term investment vehicles, is treated as a pot of gold, there for constantly shaving a bit off (nobody will ever notice). What is likely to happen, if Panorama is bought by a global private equity investor or Australian financial institution seeking to beef up their own operations is that sensible money will migrate to another platform..



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: May 4 2021, 10:03 AM
  Quote Post


Posts: 13,830
Thanks: 1609


https://www.afr.com/street-talk/westpac-hir...20210503-p57oj6


$50b in funds, 115k investors, 3.5k advisers

===============

are they try to hard. sound like they want sell everything [ baby with bath water??]]



 
nipper
post Posted: May 3 2021, 12:12 PM
  Quote Post


Posts: 10,050
Thanks: 2814


In Reply To: Danville's post @ May 3 2021, 12:06 PM

Covid; what was that?
It was interesting that WBC deferred its first-half dividend in 2020 before electing not to pay one, when the 3Q came around.
58¢ per share for the reinstated dividend is paying out 60 per cent of its profits.
QUOTE
Westpac CEO Peter King said it was a promising start to the year with the result driven by a significant write back of provisions for bad debts, as the economy snapped back from the virus crisis.





--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
 


84 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING