Incoming CEO Anthony Miller sees opportunities for growth in the agriculture,education,professional services and healthcare sectors.
Westpac boss Peter King says the economy is on track for a soft landing,even as customer stress has ticked up,and the bank posted a drop in profits.
Most Australian borrowers are managing financial stress,but rather than a disaster averted it’s evidence that the sky was never falling.
Chief executive Peter King said the bank wanted to sharpen its focus on business and consumer banking as he unveiled a new structure.
The head of the banking giant says there will be more pressure on households over the next six months,as past rate rises flow through to customers accounts.
Westpac boss Peter King says the bank is prepared to sit out the fierce competition in home loans and focus more on business lending.
As the RBA is expected to raise rates yet again on Tuesday,Westpac chief executive Peter King has a stark warning. Meanwhile,the bank’s top economist suggests the next budget should include handouts for struggling households.
Peter King,who runs Australia’s second-largest mortgage lender,signalled one of Westpac’s top concerns was how customers handled rising interest rates and higher unemployment.
Westpac chairman John McFarlane defended the bank’s fossil fuel lending policies as he announced he would retire next year after a period of restructuring.
Westpac’s chief executive Peter King says while the bank is happy to reimburse some scam victims,customers also had to take some responsibility for bad decisions.