Westpac agrees to maintain dividend
Posted on December 11th, 2008 in aus, aussie dollar, aussie local banks, australian Banking industry, cent, economic slowdown, micro cap, perth, westpac
Due to economic slowdown, Australia’s Westpac bank still promised to maintain its dividend, despite some speculation that its balance sheet growth is set to slow over the coming year.
On the wider economy, Mr Evans noted that while the Reserve Bank of Australia had cut interest rates aggressively and the federal government had begun a “sizeable” fiscal stimulus program, more is needed.
“These actions will help to offset the effects of the global slowdown but I believe more will be required,” he said.
