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Westpac Banking ( (AU:WBC) ) has provided an update.
Westpac Banking Corporation has issued A$1 billion in Tier 2 Subordinated Notes, which are expected to be classified as Tier 2 regulatory capital under the Basel III framework as implemented by the Australian Prudential Regulation Authority. This issuance reinforces Westpac’s capital structure, providing it with additional regulatory capital that can be converted into ordinary shares or written off if the bank is deemed non-viable by APRA, thus impacting its operational resilience and financial stability.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
More about Westpac Banking
Westpac Banking Corporation is a major financial institution in Australia, primarily engaged in providing banking and financial services. It operates across various segments, including personal banking, business banking, and wealth management, with a strong focus on maintaining regulatory compliance and capital adequacy.
Average Trading Volume: 4,999,950
Technical Sentiment Signal: Buy
Current Market Cap: A$135B
Learn more about WBC stock on TipRanks’ Stock Analysis page.