Westpac says it's preparing for a challenging time ahead... as it weathers the impacts of COVID-19
Westpac says it's preparing for a challenging time ahead... as it weathers the impacts of COVID-19
4 May 2020
The bank's financial results for the six months ending March 31 show a 47 percent drop in cash earnings.
The crash comes after the bank increased its impairment charge to 211 million dollars - up from 14-million.
Westpac New Zealand chief executive David McLean says in the last half year reporting period, Covid-19's effects had only just started being felt - but it had a significant impact.
The bank's Australian parent, Westpac Group last week announced a more than 2 billion dollar impairment charge.
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