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Earnings Analysis: 
Westpac Banking Net Falls
Author: Trupti Mehta
123jump.com
Last Update: 3:42 AM ET May 06 2009


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Westpac Banking Corporation first-half net interest income rose 60% to A$5.56 billion and net profit fell 1.4% to A$2.17 billion or A$81.1 a share.

 
10:00AM Sydney, Australia - Westpac Banking Corporation net interest income rose 60% and net profit fell 1.4%.

Westpac Banking Corporation, Australia’s biggest lender said first-half net interest income rose 60% to A$5.56 billion from A$3.47 billion a year ago. Net profit fell 1.4% to A$2.17 billion or A$81.1 per diluted share compared to net profit of A$2.20 billion or A$115.2 per share a year ago.

Westpac Banking Corporation, in the last one year traded as high as A$40.00 in May 2008 and as low as A$14.40 in January 2009. Based on the yesterday’s closing price of A$19.96 the company has market cap of A$57.49 billion.
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