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By Roshan Thomas and Himanshi Akhand
(Reuters) – The first half of the Australian mortgage lender westpac has missed the expectations restricted on Monday, and this warned the global trade policy and reduced financing costs by 3%.
“The geopolitical uncertainty is a basic risk where it is very long,” said Anthony Miller, who received Helm as a chief executive in December.
“The work of work has also weakened. This may cause consumption costs and further strengthening of business activities. The spread of financing can further increase financing costs since the end of the first half,” he said.
Westpac lost an alpha-worth $ 3.43 billion in a net profit in six months in six months ($ 2.14 billion), $ 3.43 billion worth $ 3.43 billion.
Investments in the technology and its combination, increase the bank’s operating costs by 6% of the bank’s operating costs, the increase in growth rate in the volume of home, work and institutional lending.
Westpac’s net interest margin (NIM) – the difference between the interest rate and the interest paid for deposits fell from 1 to 1.88% to 1.88% last year.
His main net percentage margin stood at 1.80%, squeezed with three main points, compressed in the intensive competitive mortgage market and moving to the low margin savings accounts of customers.
The bank’s shares first decreased by 3.8% and fell from 0104 GMT to 2.7%, decreased by 0.4% in a wider market.
“Management is a note of credit in business and institutional, the problem is the” Citi Analysts “, which is due to the financing of the problem in the competitive environment, he said.
“We expect that the market will evaluate the basic leverage of this growth, especially the growing rising reserves and the replication portfolio of the replication.”
Westpac, mortgage violations and impairment costs are low, with more than 30 days in Australia’s home loans, the ratio of total loans per 0.86% by the end of March is more than 30 days.
The result was provided two days after the Australian Labor Party, a historic second consistent period was provided in an election with the main problem of housing expenditures.
Miller, with the government, providing more housing in a number of issues, including a continuous long-term model, it has difficulty to guarantee cash and compete as a nation forward. “
