Another Clean Result for Westpac With First-Half 2017 Profit In Line; No Change to AUD 35 FVE
We retain our positive view for wide-moat-rated Westpac Banking, which delivered a robust first-half fiscal 2017 cash profit of AUD 4.0 billion, up 3% on first-half fiscal 2016. Performance was in line with our expectations, underpinned by cost discipline, strong loan quality with an annualised loan loss rate of just 0.15%, and robust capital levels. As expected, the AUD 0.94 per share fully franked interim dividend was unchanged on the three previous halves, based on a 79% payout. We retain our...Westpac Banking is a banking organization with branches, affiliates and controlled entities throughout Australia, New Zealand, Asia and in the Pacific region. Co. provides a range of banking and financial services in these markets, including consumer, business and institutional banking and wealth management services. Co. is engaged in the provision of financial services including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services. As of Sep 30 2017, Co. had total assets of A$851,875,000,000.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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