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Westpac flags $1.2b hit to earnings – The Australian Financial Review
Westpac’s full year cash earnings will be $1.2 billion lower as speculation about the bank’s final dividend intensifies.
UBS analyst Jon Mott said the although the hit to profits was in line with its expectations the composition of the provisions was a surprise.
“We had accounted for them ‘below the line’ within statutory profit. Westpac announced it will be taking these items through cash NPAT
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