Westpac half year profit rises 11 percent

Print
Font Size:
Default font size
Larger font size

Posted: Friday, May 3, 2013 12:00 am

SYDNEY (AP) - Westpac Banking Corp., one of Australia's largest banks, has posted an 11 percent rise in half-year profit to 3.3 billion Australian dollars ($3.4 billion) as it pursued growth opportunities for deposits.

The Sydney-based bank's profits for the six months to March 31 announced Friday were up from AU$2.9 billion for the same period a year earlier.

Westpac chief executive Gail Kelly said the results showed the benefits of the bank's strategy of targeting high growth opportunities in the sector.

She said in a statement, "The operating environment continues to be challenging, with subdued lending growth."

Australian banks proved resilient against the global economic downturn and remain among a handful of banks in the world to maintain AA credit ratings.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


loading...

SPOTLIGHT »

Inside Business
To submit an announcement for "Inside Business", click here. For questions call (402) 444-1371 or e-mail announcements@owh.com.

World-Herald Alerts

Want to get World-Herald stories sent directly to your home or work computer? Sign up for Omaha.com's News Alerts and you will receive e-mails with the day's top stories.