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WBC, WESTPAC BANKING CORPORATION
early birds
post Posted: Dec 24 2020, 09:47 AM
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https://www.afr.com/companies/financial-ser...20201224-p56pxr

In a short statement to the market after the market's close on Wednesday, Westpac said it had been informed by the Australian Securities and Investments Commission that the regulator has "concluded the investigation and that it does not intend to take any enforcement action against Westpac or any individuals in connection with the investigation".

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alarm discharged this time by ASIC!



 
plastic
post Posted: Sep 26 2020, 04:35 PM
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In Reply To: nipper's post @ Sep 25 2020, 09:04 PM

Don't you want to add a little pic for emphasis?



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What did Uncle Mel do to us?
 
plastic
post Posted: Sep 26 2020, 05:22 AM
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Your input is really what makes this site what it is today. Keep up the great work.



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What did Uncle Mel do to us?
 
nipper
post Posted: Sep 25 2020, 09:04 PM
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In Reply To: plastic's post @ Sep 25 2020, 08:31 PM

If it comes from you, it certainly has dum in it



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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
 
plastic
post Posted: Sep 25 2020, 08:31 PM
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In Reply To: nipper's post @ Sep 25 2020, 06:45 PM

Are you sure it's not a pedendum?



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What did Uncle Mel do to us?
 
nipper
post Posted: Sep 25 2020, 06:45 PM
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It is a Pendulum. The Hayne commission left them chastened, even hobbled to an extent. Now it is swinging the other way. .

Give it a year or three. Prudent allocations by individuals AND institutions should see most through... but we know risk taking produces behaviours where it all comes undone.



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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

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early birds
post Posted: Sep 25 2020, 05:59 PM
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In Reply To: nipper's post @ Sep 25 2020, 12:40 PM

https://www.afr.com/companies/financial-ser...20200925-p55z8o

Investors are likely to foot the bill for Westpac's record-breaking $1.3 billion AUSTRAC penalty through a lower final dividend in November, as they welcome the settlement as a chance for management to refocus on the business of banking.




Richard Wiles, an analyst with Morgan Stanley, said the dent to the bank's capital ratios was "immaterial" and the settlement would end a source of uncertainty for investors.

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pump it up first !! worry about earning later!! tongue.gif

from high of near aud$40 to just little over 17 bucks , with the size of the bank and lose policies , we might see some good percentage gain for next year??? unsure.gif

what do you guys think???


Said 'Thanks' for this post: nipper  
 
nipper
post Posted: Sep 25 2020, 12:40 PM
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In Reply To: early birds's post @ Sep 25 2020, 12:35 PM

Will be watching... There is more money in mortgages than personal lending, a sector that the banks seem to have handed over to the FinTech players.



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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: Sep 25 2020, 12:35 PM
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https://www.afr.com/companies/financial-ser...20200925-p55z6k

Banks welcomed the changes, saying they would reduce the burden of regulation, cut red tape for consumers and allow them to approve loan more quickly. They will also help small businesses access credit, supporting employment as the economy recovers from the crisis. Westpac said.

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that is real reason to lift big 4 banks, in a big way. forget about GFC subprime!!!! lmaosmiley.gif

anyway, we could see something to support our bleeding economies!!



 
rog
post Posted: Sep 25 2020, 12:20 PM
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In Reply To: early birds's post @ Sep 24 2020, 09:44 AM

There could be a case to answer ie directors did not act in good faith.



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With money in your pocket you are wise, you are handsome, and you sing well too.
 
 


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