April 30, 2019 / 6:36 AM / a month ago

Australia's Westpac flags $434 mln interim earnings hit from remediations

April 30 (Reuters) - Australia’s Westpac Banking Corp on Tuesday flagged a total impact of A$617 million ($434 million) to its first-half cash earnings from provisions for refunding wronged customers.

Cash earnings for the six months to March 31 would be impacted and negotiations with customers were ongoing to determine the final cost of remediation, the lender said in a statement. ($1 = 1.4217 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates)

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