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BRIEF-Westpac Banking Corp says asset quality expected to remain sound in year ahead
December 9, 2016 / 1:46 AM / a year ago

BRIEF-Westpac Banking Corp says asset quality expected to remain sound in year ahead

Dec 9 (Reuters) - Westpac Banking Corp :

* Asset quality is expected to remain sound in year ahead

* Competition is also expected to remain intense from both existing competitors and new entrants, particularly in so-called fintech space

* Growth is a little uneven across states

* Growth in services sector, rise in residential & infrastructure investment & improved net exports gains offset second order effects from slowdown in mining investment

* It is likely that additional stress will emerge in sectors and regions undergoing some structural change

* Outlook for Australia and New Zealand remains positive

* Global environment seems particularly volatile at present, domestic fundamentals are sound Source text for Eikon: Further company coverage:

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