Westpac’s Half Year Result 6 May 19: Westpac (WBC) earnings hit by higher remediation & restructuring costs

Westpac (WBC) is the last of the big four banks to announce first half results for 2019. WBC has reported a 22% decline in cash earnings to $3.296 billion, impacted by a significant $753 million in remediation & restructuring costs. Excluding those charges, cash earnings fell a more modest 5%. Australia’s second largest bank has kept its interim dividend unchanged at $0.94/share.

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