Westpac’s King takes plunge on cutting provisions – The Australian Financial Review

In large part it has to do with the stronger-than-expected recovery in the Australian economy, which has translated into a better performance in the jobs market, and in property prices.
But King also has the advantage of having spent a long stint as Westpacs chief financial officer. That means that he has a detailed knowledge of how the banks balance sheet works, as well as understanding the intricacies of accounting standards that require banks to set aside provisions on future problem loans.
Its…

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