Westpac’s Balance Sheet a FY17 Result Highlight, but Revenue Growth a Challenge. AUD 35 FVE Intact
No change to our positive view on wide moat-rated Westpac Banking Corporation despite the slowdown in revenue growth in the face of slower economic conditions. We like the low loan loss rate of just 0.13% of total loans, the strong balance sheet and impressive operational efficiency based on the 42.2% cost/income ratio. The capital position strengthened with the 10.6% common equity Tier 1 capital ratio up strongly from 9.5% a year ago. The four metrics are peer-leading or equal peer-leading and ...
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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