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WBC, WESTPAC BANKING CORPORATION
blacksheep
post Posted: Nov 4 2019, 01:00 PM
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In Reply To: early birds's post @ Nov 4 2019, 10:22 AM

QUOTE
Banks sell-off continues as early losses mount
Luke Housego

Pressure on the major banks has continued in early trade on Monday after Westpac reported a 15 per cent drop in profit.

While Westpac is in a trading halt ahead of a capital raise, the remainder of the big four banks have sustained heavy losses.

Lower rates are squeezing lenders' margins. Illustration: Joe Benke

National Australia Bank is down 2.89 per cent, Commonwealth has lost 1.25 per cent and ANZ is down three quarters of a per cent.

Some of the losses stem from institutional investors reducing their exposure to ANZ, CBA and NAB in order to buy cheaper shares in Westpac's capital raise.

Another factor, according to research from Macquarie Bank, is mortgage volume growth for Australia's major lenders.

Analysts for the bank said tighter lending controls and customers' repaying loans quicker with low rates meant smaller loan books.

The issue is further compounded by margin pressures, the research added.

"Pressure from lower interest rates more than offset mortgage repricing benefits and we expect margins to contract by 4-7 basis points in FY20", analysts wrote.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Nov 4 2019, 10:22 AM
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In Reply To: nipper's post @ Nov 4 2019, 08:51 AM

yeah nipper. as NAB went down nearly 3% as i type looks it gonna follow WBC.

comes to more info of WBC's this fund raising.......
The fully underwritten Placement of new fully paid ordinary shares (“New Shares”) to sophisticated
and institutional investors in Australia and in certain overseas jurisdictions will raise $2 billion.
The Placement will be undertaken at a fixed price of $25.32 per New Share (“Placement Price”),
representing a:
• 6.5% discount to the adjusted4 last close price on ASX of $27.08 on 1 November 2019;
and
• 8.1% discount to the adjusted4 five day VWAP5 on ASX of $27.56 to the close of trade on
1 November 2019.
The Placement will result in approximately 79 million New Shares being issued, representing
approximately 2.3% of Westpac’s existing issued capital6
.-------------------------

how many this discounted shares retail investors can get??? unsure.gif



 
nipper
post Posted: Nov 4 2019, 08:51 AM
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In Reply To: early birds's post @ Nov 4 2019, 07:55 AM

No surprise, really. NAB probably will do so, as well. Lowest CET1 capital ratios below 10.75%


https://boards.sharecafe.com.au/index.php?s...80&hl=Banks




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"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: Nov 4 2019, 07:55 AM
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https://www.sharecafe.com.au/2019/11/04/wes...-2-5bn-raising/

Westpac shares went into a two-day trading halt before the ASX opened on Monday morning to allow it to make a surprise capital raising of around $2.5 billion to big shareholders.

The news came as the bank, the country’s second-largest, slashed final dividend by 15% after reporting a sharp fall in second half and full-year earnings.#


The final dividend of 80 cents a share was down 15% from the 94 cents paid a year ago. An interim for 2018-19 of 94 million was paid earlier this year. Unlike the ANZ which chopped its franking to 70% Westpac is maintaining a 100% fully franked payout.

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seems big four have been bitten really heard by RC.................... cool.gif
low rate dose not help..............
rock and heard place for them atm




Said 'Thanks' for this post: nipper  
 
early birds
post Posted: Aug 13 2019, 01:27 PM
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https://www.afr.com/companies/financial-ser...y_Sent=13082019

I may eat Waygu beef everyday washed down with the finest shiraz but, if I really want my new home, I can make do on much more modest fare.

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

how modest one can be??? skip freakfast, lunch. only have sandwich for dinner---------------healthy , lose weight , and can qualify for a home loan from WBC. lmaosmiley.gif
GOOD SOLUTION !!!!!

i guess ASIC went too far this time.



 
blacksheep
post Posted: Feb 21 2019, 01:57 PM
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Class action filed against Westpac could affect thousands of Australian home loans
Exclusive by national consumer affairs reporter Amy Bainbridge and the Specialist Reporting Team's Emily Clark
Updated 10 minutes ago

QUOTE
One of Australia's biggest banks, Westpac, has been hit with a class action on behalf of borrowers and could be facing tens of millions of dollars in compensation claims.

Key points:
A class action against Westpac has been filed in the Federal Court this morning
The suit is on behalf of mortgage holders and accuses the bank of irresponsible lending
Law firm Maurice Blackburn will argue the bank breached lending obligations in loans dating back to 2011
The bank has already admitted up to 10,500 loans were affected and previously said it had "committed to proactively monitor" those that were still active


https://www.abc.net.au/news/2019-02-21/west...ection=business
https://www.shortman.com.au/stock?q=wbc
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Oct 8 2018, 03:10 PM
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In Reply To: blacksheep's post @ Oct 2 2018, 03:45 PM

Schedule
Review of the Four Major Banks (Fourth Hearings)
PUBLIC HEARING
Thursday 11 October 2018
9.15 am Commonwealth Bank of Australia
1.15 pm Westpac

Friday 12 October 2018
9.15 am Australia and New Zealand Banking Group Limited

Friday 19 October 2018
9.15 am National Australia Bank

https://www.aph.gov.au/Parliamentary_Busine...Public_Hearings




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 2 2018, 03:45 PM
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Posts: 6,603
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In Reply To: blacksheep's post @ Sep 24 2018, 08:24 PM

Hit a new 5 year low of @27.13/share earlier today - currently $27.32. Previous low was in June - $27.24

https://www.shortman.com.au/stock?q=wbc
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 24 2018, 08:24 PM
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In Reply To: blacksheep's post @ Sep 19 2018, 09:40 PM

Might have been better all round not to have provided loans to "risky property investors" in the first place rolleyes.gif

Westpac plans to 'dump' risky property investors as rates rise and returns fall
QUOTE
Westpac Group, the nation's second largest lender, is giving risky property investors less than a month to find another lender amid growing concerns about the impact of rising rates, falling values and oversupply.

The bank is sending a single-page letter to investors warning it can "no longer support our commercial relationship with you", adding it will work with the borrower to help them find a new lender.


and on the "loyal customers" getting penalized

QUOTE
NAB chief executive Andrew Thorburn questioned the strategy of charging loyal customers higher rates, saying it was "probably not a long-term economic model to have aggressive 'front book' discounting when your existing clients are not getting the same sort of deal". Mr Thorburn's comments were not targeting Westpac.


read more - https://www.afr.com/personal-finance/westpa...20180924-h15s1a?
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 19 2018, 09:40 PM
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Posts: 6,603
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In Reply To: blacksheep's post @ Jun 15 2018, 03:13 PM

Good to see "existing" customers being valued rolleyes.gif

QUOTE
Westpac, the nation's second-largest lender, on Wednesday slashed lending rates by up to 110 basis points in an aggressive bid for new borrowers that coincides with rate hikes for existing borrowers


https://www.afr.com/personal-finance/westpa...20180918-h15kgl
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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