Edition:
India

Westpac Banking Corp Says Its Cash Earnings In H2 Of 2019 Will Be Reduced By $341 Mln


Wednesday, 23 Oct 2019 

Oct 23 (Reuters) - Westpac Banking Corp ::ITS CASH EARNINGS 1 IN SECOND HALF 2019 WILL BE REDUCED BY AN ESTIMATED $341 MILLION.CASH EARNINGS WILL BE REDUCED DUE TO ITS CUSTOMER REMEDIATION PROGRAMS.CASH EARNINGS IN H2 REDUCED DUE TO CUSTOMER REMEDIATION PROGRAMS."A KEY PRIORITY IN 2019 HAS BEEN TO DEAL WITH OUTSTANDING REMEDIATION ISSUES AND REFUND CUSTOMERS AS QUICKLY AS POSSIBLE".IN AGGREGATE CUSTOMER REMEDIATION PROGRAMS, COSTS OF PREVIOUS ANNOUNCED WEALTH RESET WILL REDUCE EARNINGS BY $377 MILLION IN H2.