Economic indicators weaken
August 20, 2008
Slowing annual growth in an Australian index slowed in June reinforces assessment of an interest rates cut.
Westpac Banking Corporation and St George banks in merger talks
Westpac Banking Corporation, Australia's oldest company, is in talks with St George, a former building society, about merging to form a A$64 billion ($£31 billion) institution.
Westpac set to mirror St George strategy
Westpac Bank will have to tread carefully if it wants to keep setting the standard for customer satisfaction at takeover target St George, a researcher says.
Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
Westpac to raise $600m from new issue
Westpac Banking Corp plans to raise $600 million from the sale of new Tier 1 hybrid securities in the domestic market.
Westpac approaches St. George in...
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be...
Australia's Westpac offers $14B for...
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking...
Westpac momentum tipped to continue
Analysts say Westpac Banking Corporation Ltd is a "safe haven" in the finance sector and are tipping its strong profit momentum to continue.
Australia's St. George Bank agrees to...
St. George Bank on Tuesday agreed to an 18.6 billion Australian dollar ($17.5 billion) takeover offer from Westpac Banking Corp. that would create Australia's biggest bank and...
Australia's Westpac bank posts 34 percent profit rise in first half
Westpac Banking Corp. Ltd. on Thursday announced a 34 percent rise in net profit over the last six months as a strong local economy fueled sustained demand for credit.
Westpac may have to boost $17.6 billion St George bid (Reuters)
Reuters - Westpac Banking Corp Ltd , which has bid $17.6 billion for St George Bank in the biggest banking takeover ever in Australia, is bracing for rival offers to emerge that could push the price tag even higher.
Westpac takes over Tongan operation
Westpac Banking Corp has bought the 40 per cent stake held by the Government of Tonga in Westpac Bank of Tonga for an undisclosed sum.
Westpac fault ends in payment chaos
TENS of thousands of people across the country missed out on their weekly pay, were overpaid, or had direct debit payments taken out twice yesterday after a computer malfunction...
Westpac raises $1b from securities
Westpac Banking Corp has raised just over $1 billion from an issue of stapled securities to boost its regulatory capital.
St George to recommend Westpac takeover
St George Bank's board will recommend to its shareholders Westpac Banking Corporation's $19b takeover after the two lenders signed an implementation agreement.
Westpac announces margin for securities
Westpac Banking Corporation Ltd said a 2.4 per cent margin had been set for stapled preferred securities the company was issuing after a bookbuild.
Westpac Bid Deserves Closer Look
Westpac Banking's $18.1 billion bid for St. George Bank would create a powerhouse that has some analysts taking a good look at Westpac's stock.
Australia's St. George agrees to Westpac takeover
St. George Bank Ltd., Australia's fifth-largest bank, agreed to a revised 17.3 billion Australian dollar ($14.4 billion) takeover proposal by larger rival Westpac Banking Corp. on Monday, in what would be the biggest banking acquisition in Australian history.
Australia's Westpac bids $17.6 billion for St George (Reuters)
Reuters - Westpac Banking Corp Ltd launched a $17.6 billion all-share bid for smaller rival St George Bank Ltd in a tie-up that would create Australia's biggest bank by market value.
Westpac may bid higher for St. George
Westpac Banking Corp Ltd WBC.AX
Westpac says Gail Kelly a 'great asset'
Westpac Banking Corp chairman Ted Evans says CEO Gail Kelly is a "great asset" as the company attempts to buy rival St George Bank.
St. George agrees to Westpac deal
Australia's St. George Bank Ltd. has agreed to accept an offer from Westpac Banking Corp. that would result in one of the country's biggest corporate takeovers.
Westpac approaches St George over merger
Westpac Banking Corporation has approached St George Bank about a proposed merger between the two.
Westpac and St George Bank mull...
Westpac Banking Corporation, Australia’s oldest company, is in talks with a
smaller rival to create a A$64 billion ($£31 billion) institution with a
customer base...
Westpac bid still of interest: St George
St George says it could reconcile the bullish nature of the operational update of its business with its recommendation of a takeover offer from Westpac.