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(Reuters) - Australia's Westpac Banking Corp warned on Monday that its second-half reported net profit and cash earnings will be reduced by A$1.3 billion ($824 million) after tax, citing a loss on the sale of its life insurance business, among others.
Westpac, the country's third-largest lender, said the one-off charge will have a net positive impact of 12 basis points (bps) on its common equity tier 1 capital ratio as the unit sale added 17 bps.
The bank said it expects the sale of its Austra...
>>> Read more: Australia's Westpac sees $824 million hit in second half from unit sale
Westpac, the country's third-largest lender, said the one-off charge will have a net positive impact of 12 basis points (bps) on its common equity tier 1 capital ratio as the unit sale added 17 bps.
The bank said it expects the sale of its Austra...
>>> Read more: Australia's Westpac sees $824 million hit in second half from unit sale
