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The latest update is out from Westpac Banking ( (AU:WBC) ).
Westpac Banking Corporation has successfully completed a significant transformation in its risk management practices, as acknowledged by the Australian Prudential Regulation Authority (APRA). This transformation, part of the Customer Outcomes and Risk Excellence Program (CORE), has led to the removal of a $500 million operational risk capital overlay, boosting the bank’s Common Equity Tier 1 (CET1) capital ratio by 17 basis points. The improvements are expected to enhance Westpac’s operational strength and market positioning, reflecting a reduction in risk-weighted assets by $6,250 million.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$37.63 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 services provider in Australia, primarily engaged in banking services. The company focuses on delivering a range of financial products and services including personal, business, and institutional banking, as well as wealth management solutions.
Average Trading Volume: 4,533,792
Technical Sentiment Signal: Buy
Current Market Cap: A$133.9B
See more data about WBC stock on TipRanks’ Stock Analysis page.