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Article: WESTPAC EXPECTED TO TOP EARNINGS OF AUSTRALIAN BANKS.
- Article from:
- AsiaPulse News
- Article date:
- April 27, 2009
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MELBOURNE, April 27 Asia Pulse - Westpac Banking Corp Ltd (ASX:WBC) is expected to be the standout performer of the three big banks reporting first half results this week.
Analysts are tipping a fall in the earnings for National Australia Bank Ltd (ASX:NAB) and ANZ Banking Group Ltd (ASX:NAB) as the economic downturn bites and funding costs and bad debt exposures lift.
But Westpac is expected to raise earnings as it benefits from the inclusion of the profits from St George Bank, which it took over late in calendar 2008, on stronger margins and revenue.
The bank, which is now Australia's largest by market value, said in February that while ...