Westpac posted a 3% rise in full year cash profit to $8.06 billion, below the consensus forecast of $8.16, and kept the dividend flow to shareholders steady.
Statutory net profit was $7.99 billion, up 7%, as lending grew 3% and customer deposits 4%.
The bank declared a fully franked dividend of 94 cents a share, unchanged from the year before.
CEO Brian Hartzer says this is a solid result in a challenging environment.
At a time of substantial change in our industry, weve got a clear strategic agenda that is delivering for both customers and shareholders, he says.
Revenue was up 4% to $21.8 billion and expenses 2% to $9.43 billion.
Employee numbers fell 1%, or by 484 positions, to 35,096 but staff expenses…
Read the full article at: https://www.businessinsider.com.au/westpac-profits-crack-8-billion-dividends-steady-2017-11