WBC - Westpac Banking Corporation

[sptrawler]

well i reduced my exposure to them markedly , but not for the reasons Citi is touting

but then unlike many i always kept my exposure to 'the big 4 ' lower than most

i needed growth , and those 4 didn't seem to have sensible paths to growth

Yes they tend to just follow the economy, I just find with a growing population, they have been a steady income stream, but their price never sets the world on fire.

 

[divs4ever]

Yes they tend to just follow the economy, I just find with a growing population, they have been a steady income stream, but their price never sets the world on fire.

that trend didn't fit into my plan when i started investing in 2011

WBC and ANZ had moments when they looked like they would fit , but haven't delivered what i needed to happen

 

[sptrawler]

that trend didn't fit into my plan when i started investing in 2011

WBC and ANZ had moments when they looked like they would fit , but haven't delivered what i needed to happen

As long as your plan is working, that's all that matters IMO.
The only people I know that end up disappointed, are those that had no plan, or too an ambitious plan.

 

[divs4ever]

maybe mine was/is too ambitious but i only had 10 years ( turned out to be less ) to get it into some sort of shape , i had to force it without blowing it all away

and amid some interesting events to boot

 

[sptrawler]

maybe mine was/is too ambitious but i only had 10 years ( turned out to be less ) to get it into some sort of shape , i had to force it without blowing it all away

and amid some interesting events to boot

Kudos to you mate, mine started when I turned 21 and got married.
To do it in 10 years would take a lot of dedication, sacrifice and self discipline, that you are still actively discussing investment on a forum, shows you haven't lost your focus.
I'm impressed, well done and I mean that scincerly.

 

[TimeISmoney]

Yes, I wonder where they suggest the money should be deployed to, manufacturing, mining, retail, agriculture?
Or maybe a managed fund they are running.

Funny how they always down talk banks, when the interest rates are high they complain that interest paying deposits become a liability, when the interest is low they make up whatever suits their agenda. It's most likely them snapping up all the cheap shares.

 

[farmerge]

WBC Westpac Banking Corporation. No 3 pick in the yearly competition. Hate the banks with a vengeance, but must have one of the thieves in this comp. Their SP slightly down on last month, but nothing serious.

 

[mullokintyre]

This image below was posted on X, and after a bit of research I found THIS on JPMorgan site confirming some of the data.
I wonder how many mortgage holders with WBC know that part or all of their mortgage has had a transfer of ownership.
For those with a little memory, it was the proliferation of these types of collateral instruments that caused the GFC.
Mick

 

[farmerge]

This image below was posted on X, and after a bit of research I found THIS on JPMorgan site confirming some of the data.
I wonder how many mortgage holders with WBC know that part or all of their mortgage has had a transfer of ownership.
For those with a little memory, it was the proliferation of these types of collateral instruments that caused the GFC.
Mick


View attachment 176312

@mullokintyre Bordering on the verge of a scam, surely.

 

[sptrawler]

This image below was posted on X, and after a bit of research I found THIS on JPMorgan site confirming some of the data.
I wonder how many mortgage holders with WBC know that part or all of their mortgage has had a transfer of ownership.
For those with a little memory, it was the proliferation of these types of collateral instruments that caused the GFC.
Mick


View attachment 176312

Obviously the banks think the property market is overheated.

 

[divs4ever]

This image below was posted on X, and after a bit of research I found THIS on JPMorgan site confirming some of the data.
I wonder how many mortgage holders with WBC know that part or all of their mortgage has had a transfer of ownership.
For those with a little memory, it was the proliferation of these types of collateral instruments that caused the GFC.
Mick


View attachment 176312

one must now wonder if WBC is unique in doing this

but i now have absolutely no regret over selling ( almost all ) my WBC exposure

was this bank born suicidal ( by not telling low-level staff or mortgagees )

are we looking at another Royal Commission ?

 

[divs4ever]

Obviously the banks think the property market is overheated.

absolutely nothing compared to when the mortgagees find out

 

[divs4ever]

think of the stress leave levels created by branch staff when they get surprised by upset mortgagees

 

[divs4ever]

remember plenty of politicians have 5 or more investment properties , i wonder how many have a mortgage or two ?

 

[farmerge]

remember plenty of politicians have 5 or more investment properties , i wonder how many have a mortgage or two ?

Maybe the old brown paper bag comes in handy when buying. Stress free mortgages.

 

[farmerge]

think of the stress leave levels created by branch staff when they get surprised by upset mortgagees

Sorry state of affairs.

 

[Dona Ferentes]

pile in ?
.

Westpac said mortgage competition has crunched its lending margins, as it reported a $3.3 billion net profit for the first half of the 2024 financial year, down 16 per cent.

Yet, its excess levels of equity capital, reflecting still strong profits, and an optimistic outlook for the economy allowed the bank to pay a 15¢ a share fully franked special dividend. This came on top of its 75¢ ordinary interim dividend, which is also fully franked.

Westpac also lifted its share buyback by $1 billion to $2.5 billion.

Net profit was in line with consensus expectations; the better-than-expected headline result driven by less pressure on net interest margins and bad debts than the market expected. Its NIM fell 7 basis points to 1.89 per cent over 12 months, with the bank citing competition for home loans as the reason for the squeeze on profitability.

Stressed loans as a proportion of the total rose to 1.36 per cent, from 1.10 per cent a year earlier and 1.26 per cent six months ago. Provisions for impaired loans were lifted to $5.1 billion, up from $4.9 billion six months earlier.

 

[TimeISmoney]

I keep on telling people that the big banks will never lose out, they've been selling high risk loan books for a few years.
The problem with selling loans is if the company that buys them goes into default the mortgagee will lose whatever they've bought.

 

[divs4ever]

I keep on telling people that the big banks will never lose out, they've been selling high risk loan books for a few years.
The problem with selling loans is if the company that buys them goes into default the mortgagee will lose whatever they've bought.

WBC under it's various names throughout history , has done it's very best to tempt the limits of bankruptcy themselves

sure the mortgagee risks it all , but the GFC caused some interesting issues both in the US and elsewhere ( and in the last two years banks don't seem to be as solid as the public thought )

 

[TimeISmoney]

WBC under it's various names throughout history , has done it's very best to tempt the limits of bankruptcy themselves

sure the mortgagee risks it all , but the GFC caused some interesting issues both in the US and elsewhere ( and in the last two years banks don't seem to be as solid as the public thought )

The US has a different loan structure than us, and they can walk away from a mortgage with fewer consequences. The shorting never helped either, it is one thing they should never allow in Australia as our market is a lot smaller.