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(Reuters) -Australia's No.3 lender Westpac Banking Corp on Monday reported a quarterly cash profit of A$1.8 billion, benefiting from rising interest rates that caused mortgage payments to rise, even as higher supply costs and expenses weighed.
Interest rates in Australia have been hiked by a cumulative 400 basis points since May last year in the most aggressive tightening campaign in the country's modern history. Australian banks have passed on these hikes to customers, which helped lift lendin...
>>> Read more: Westpac Q3 quarterly cash earnings boosted by rising rates, expenses weigh
Interest rates in Australia have been hiked by a cumulative 400 basis points since May last year in the most aggressive tightening campaign in the country's modern history. Australian banks have passed on these hikes to customers, which helped lift lendin...
>>> Read more: Westpac Q3 quarterly cash earnings boosted by rising rates, expenses weigh
