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(Reuters) - Westpac Banking Corp said on Friday its common equity tier-1 ratio in the first quarter fell sequentially as the lender increased provisions for bad debts.
The bank did not disclose a profit figure but said it incurred an impairment charge of A$184 million ($126.59 million), reflecting the rise in cost-of-living pressures.
Australia's central bank has hiked interest rates nine times this cycle, by a cumulative 325 basis points, in a bid to combat runaway inflation.
Higher rates ar...
>>> Read more: Australia's Westpac posts lower CET1 ratio as provisions rise
The bank did not disclose a profit figure but said it incurred an impairment charge of A$184 million ($126.59 million), reflecting the rise in cost-of-living pressures.
Australia's central bank has hiked interest rates nine times this cycle, by a cumulative 325 basis points, in a bid to combat runaway inflation.
Higher rates ar...
>>> Read more: Australia's Westpac posts lower CET1 ratio as provisions rise
