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3 months ago
BRIEF-Westpac Banking Corp H1 cash earnings up 3 percent
May 7, 2017 / 9:55 PM / 3 months ago

BRIEF-Westpac Banking Corp H1 cash earnings up 3 percent

May 8 (Reuters) - Westpac Banking Corp

* HY cash earnings $4,017 million, up 3%

* HY reported net interest margin decreased 4 basis points to 2.05%

* HY statutory net profit $3,907 million, up 6%

* 94 cents per share interim, fully franked dividend

* "We remain positive about Australian housing market, although we expect price growth to moderate through 2017"

* "2017 financial system credit is expected to grow at around 5.5%"

* H1 2017 Common Equity Tier 1 Ratio (APRA BASEL III) 9.97 percent versus 10.47 percent

* "Housing credit growth is likely to ease a little as demand slows"

* HY net interest income $7,693 million versus $7,653 million

* H1 2017 cash earnings return on average ordinary equity 13.95 percent versus 14.15 percent last year Source text for Eikon: Further company coverage:

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