More than 2 million people,including at least one bank chief executive,have so far received cheques worth a combined $1.5 billion to cover the banks'past shortcomings.
Westpac chief executive Brian Hartzer said there was a risk that a further reduction in rates would damage confidence,instead of improving it.
Wesptac chief executive Brian Hartzer received no short-term bonus this year and ANZ Bank's chief Shayne Elliott had his short-term incentives cut by $250,000.
Westpac is warning profits will remain under pressure from a"very challenging"backdrop,after slashing dividends and launching a $2.5 billion capital raising.
Westpac chief executive Brian Hartzer has warned that a “highly prescriptive” approach to enforcing regulation is creating a"danger"for the economy.
Westpac chief executive Brian Hartzer has backed a major overhaul of housing taxation,making the case for replacing stamp duty with a broad-based land tax.
After several busy months stripping costs,refunding customers to the tune of $1.2 billion and handing out hundreds of redundancies we wouldn’t begrudge Westpac chief executive Brian Hartzer some solitude.
Westpac is pushing ahead with a plan to strip $400 million from costs this year,as the bank grapples with slowing growth.
Westpac chief executive Brian Hartzer says interest rate cuts would help to support consumer spending,but it's not the key challenge for the economy.
Westpac's profits will take a $617 million hit from customer compensation and related costs in the first half,after it revealed a fresh provision.
The lender announced a new wave of compensation payments and flagged further such payouts in its financial advice arm.