{"id":1926325,"date":"2023-05-08T00:11:47","date_gmt":"2023-05-08T04:11:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/westpac-h1-profit-jumps-on-higher-interest-rates-flags-second-half-margin-pressures\/"},"modified":"2023-05-08T00:16:02","modified_gmt":"2023-05-08T04:16:02","slug":"westpac-h1-profit-jumps-on-higher-interest-rates-flags-second-half-margin-pressures","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/westpac-h1-profit-jumps-on-higher-interest-rates-flags-second-half-margin-pressures\/","title":{"rendered":"Westpac&#8217;s H1 profit surged due to increased interest rates, but the bank anticipates margin pressures in the second half."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwestpac-h1-profit-jumps-on-higher-interest-rates-flags-second-half-margin-pressures%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1926325&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Westpac Banking Corp Posts 22% Jump in First-Half Net Profits<\/h2>\n<p>Australia&#8217;s Westpac Banking Corp has reported a 22% increase in first-half net profits, thanks to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank\/\" title=\"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank\">rising interest rates<\/a>. However, the bank has warned that tough mortgage competition will negatively impact margins going into the second half. Over the past year, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/westpac-h1-profit-jumps-on-higher-interest-rates-flags-second-half-margin-pressures\/\" title=\"Westpac's H1 profit surged due to increased interest rates, but the bank anticipates margin pressures in the second half.\">aggressive monetary tightening boosted banks&#8217; earnings<\/a> and margins, but inflation, softening home prices, and a cooling economy pose risks to credit growth and asset quality.<\/p>\n<h3>Net Profit and Dividend<\/h3>\n<ul>\n<li>Net profit: A$4.00 billion ($2.70 billion) for the six months ended March 31, compared with A$3.28 billion a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/broward-county-school-board-member-admits-she-was-intimidated-into-covering-up-safety-failures-that-contributed-to-marjory-stoneman-douglas-massacre\/\" title=\"Broward County School Board Member Admits She Was \u2018Intimidated\u2019 Into Covering Up Safety Failures That Contributed To Marjory Stoneman Douglas Massacre\">year earlier<\/a><\/li>\n<li>Net interest margin: <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stocks-tumble-after-september-jobs-report\/\" title=\"Stocks Tumble After September Jobs Report\">rose 5 basis points<\/a> from a year earlier to 1.96% at the end of March<\/li>\n<li>Interim dividend: 70 Australian cents per share, as compared with 61 Australian cents last year<\/li>\n<\/ul>\n<p>Westpac has stated that credit growth, both housing and business, will ease, and intense mortgage competition is expected to negatively impact the industry and Westpac&#8217;s margins in the next half.<\/p>\n<p>Despite the positive results, the bank is cautious about the future, and investors should keep an eye on the market for any changes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Australia\u2019s Westpac Banking Corp on Monday posted a 22% jump in first-half net profits as margins improved on the back of rising interest rates but warned tough mortgage competition will negatively impact margins going into the second half. Over the past year, aggressive monetary tightening boosted banks\u2019 earnings and margins. However, that could<\/p>\n","protected":false},"author":66,"featured_media":1926326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[21730,5373,5433,7729,11150,17219,7116,6009,22599,26125],"class_list":["post-1926325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-anticipates","tag-bank","tag-half","tag-increased","tag-margin","tag-pressures","tag-profit","tag-rates","tag-surged","tag-westpacs"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1926325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1926325"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1926325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1926326"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1926325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1926325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1926325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}