Westpac Banking Corp (WBC.AX)
14 Nov 2018
Nov 13 Australian shares tumbled on Tuesday, as banks and commodity stocks bore the brunt of a sell-off after a slide on Wall Street sapped global risk sentiment.
* Aussie shares set for worst intraday session in nearly 3 weeks
SYDNEY An Australian court refused on Tuesday to approve a record A$35 million ($25 million) fine imposed on Westpac Banking Corp by the corporate regulator for using inappropriate calculations to determine if customers could afford home loans.
Nov 12 Westpac Banking Corp said on Monday it intends to raise about A$750 million ($540 million) through an offering of capital notes.
SYDNEY Westpac Banking Corp won vindication of its decision to fight accusations its conduct in handling of a key rate was unconscionable as an Australian court fined it A$3.3 million ($2.4 million), far less than the sum sought by a regulator.
* Westpac cleared in May of BBSW rigging but found to commit misconduct
SYDNEY, Nov 9 An Australian court fined No. 2 lender Westpac Banking Corp A$3.3 million ($2.4 million) for unconscionable conduct in the way its traders handled a key rate for several years.
* Profits hurt by costs of remediating customers, lower margins
Nov 5 Westpac Banking Corp reported flat cash earnings growth on Monday, missing expectations, as customer refunds and legal costs soared in the wake of damaging revelations of wrongdoing at a public inquiry.
* CBA's Comyn says incentives may have played part in misconduct (Recasts on both bank CEOs reversing opposition to inquiry)