Business
Is the Westpac (ASX:WBC) share price a buy?
Is the Westpac Banking Corp (ASX: WBC) share price a buy? Some brokers like Morgan Stanley and Credit Suisse have had their say.
A lot has happened to the Westpac share price over the last 12 months. During the COVID-19 crash to 23 March 2020 it fell by just over 45% to $14.10. Since then it has risen by over 50%.
FY20 result
The FY20 report was released in November 2020 and it showed a large profit decline partly because of the effects of COVID-19.
Westpac’s cash earnings were down 62% to $2.61 billion and cash earnings per share (EPS) fell 63% to 72.5 cents. Statutory net profit fell by 66% to $2.29 billion.
Westpac attributed the large drop of profit to a number of one-off items including provisions and costs for the AUSTRAC…
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