Westpac is expected to deploy its excess capital towards paying a higher dividend when it reports full-year profit on Monday, but that may not be enough to convince analysts it is immune from the threat of margin pressure.
With CEO Peter King delivering his last result before being succeeded by Anthony Miller in December, “market concerns with Westpac remain centred on the delivery of cost-out and simplification initiatives, particularly against the backdrop of the CEO transition,” said UBS analyst John Storey, in a preview of the result.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
