Reported 4 days ago
Westpac Banking Corp. saw its shares fall by up to 6% after its net profit for the three months ending December 31 dropped to A$1.7 billion, as high living costs and interest rates strain customer spending. CEO Anthony Miller noted that while inflation is easing, ongoing cost pressures could impact demand and bank margins, prompting analysts to predict a potential 3-5% profit decline for fiscal 2025.
Source: YAHOO