WBCPG News: Financial Services Roundup: Market Talk - 22nd Aug 2023, 9:50pm

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0401 GMT – Westpac 3Q FY 2023 trading update shows unexpectedly high cost growth, which prompts Morgans to downgrade its forecasts, the broker’s analyst Nathan Lead says in a note. “This was a negative surprise, with expectations, both ours and consensus, ofaround 1% growth for 2H,” Morgans says, noting it wasn’t too long ago that Westpac was targeting material cost declines. 0306 GMT – CIMB Group Holdings could use its pre-emptive provisions of MYR2 billion to offs...

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