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(Reuters) - Australia's Westpac Banking Corp said on Monday its third-quarter net profit was largely in line with a year ago, as higher earnings on capital and hedged deposits offset rising expenses and bad loans.
Based on the company's average quarterly performance in the first half of 2024, Westpac's unaudited net profit showed a 6% increase.
However, decade-high interest rates and growing cost-of-living pressures are impacting households' ability to repay loans on time, thereby increasing f...
>>> Read more: Australia's Westpac posts steady Q3 profit, helped by higher capital earnings
Based on the company's average quarterly performance in the first half of 2024, Westpac's unaudited net profit showed a 6% increase.
However, decade-high interest rates and growing cost-of-living pressures are impacting households' ability to repay loans on time, thereby increasing f...
>>> Read more: Australia's Westpac posts steady Q3 profit, helped by higher capital earnings
