Morgan BellWestpac Surges Ahead
December 29th 2006 13:35
During the 80s Westpac was the number one bank. It then fell into decline and went though a long period or re-formulation and change of corporate culture and is now showing-up shining and successful. Stay with me for more on Westpac.
The news today, 29 December 2006, is that “Westpac Banking Corporation has moved ahead of National Australia Bank as the nation’s second-biggest home lender, with the Melbourne-based bank losing ground in the highly competitive home-lending market in October.”
“The latest data from the Australian Prudential Regulation Authority showed that NAB’s market share in home lending fell from 18.52 per cent to 18.01 per cent in October. The fall was steeper over six months, when it had a market share of 18.87 per cent.”
“Of the majors, Westpac made up most ground, increasing its market share from 18.05 per cent to 18.12 per cent in the month, up from 17.8 per cent in May.”
“The nation’s biggest home lender, Commonwealth Bank, lifted its share from 22.87 per cent to 22.91 per cent.”
This news was published in the online version of The Australian under the title “Westpac pips NAB in home lending” and was written by Katherine Jimenez. Click here to open that page.
Westpac Banking Corporation (ASX: WBC) is one of the most admirable stories of self-transformation and winning achievement of our day.
Not just did Westpac change its careless and blokey culture, it positioned itself as one of the most profitable and growing of the major four banks.
Westpac has been silently acquiring business such as Bank of Melbourne, Challenge Bank, Trust Bank in New Zealand, Rothschild Australia Asset Management, BT Funds Management and Hasting Funds Management.
WBC’s current EPS is 165.7 cents being its growth rate for the last six years 10.2 per cent.
In comparison, National Australia Bank’s corresponding figures are 251.0 cents and 0.23 per cent.
WBC Net Profit After Tax is $3.071 billion and National Australia Bank (ASX: NAB) $4.138 billion.
WBC’s Return on Assets is 1.1 while NAB is 0.8.
WBC’s Return on Equity is 21.6 per cent while NAB’s is 16.9 per cent.
Finally, Westpac’s price is $24.24 and its P/E is 15 times, which fully prices it.
If you look at the price chart of WBC for the last 10 years you will see a continuously ascending line from $5 to $25, a testimony to Westpac’s sustained growth strategy.
End
The news today, 29 December 2006, is that “Westpac Banking Corporation has moved ahead of National Australia Bank as the nation’s second-biggest home lender, with the Melbourne-based bank losing ground in the highly competitive home-lending market in October.”
“The latest data from the Australian Prudential Regulation Authority showed that NAB’s market share in home lending fell from 18.52 per cent to 18.01 per cent in October. The fall was steeper over six months, when it had a market share of 18.87 per cent.”
“Of the majors, Westpac made up most ground, increasing its market share from 18.05 per cent to 18.12 per cent in the month, up from 17.8 per cent in May.”
“The nation’s biggest home lender, Commonwealth Bank, lifted its share from 22.87 per cent to 22.91 per cent.”
This news was published in the online version of The Australian under the title “Westpac pips NAB in home lending” and was written by Katherine Jimenez. Click here to open that page.
Westpac Banking Corporation (ASX: WBC) is one of the most admirable stories of self-transformation and winning achievement of our day.
Not just did Westpac change its careless and blokey culture, it positioned itself as one of the most profitable and growing of the major four banks.
Westpac has been silently acquiring business such as Bank of Melbourne, Challenge Bank, Trust Bank in New Zealand, Rothschild Australia Asset Management, BT Funds Management and Hasting Funds Management.
WBC’s current EPS is 165.7 cents being its growth rate for the last six years 10.2 per cent.
In comparison, National Australia Bank’s corresponding figures are 251.0 cents and 0.23 per cent.
WBC Net Profit After Tax is $3.071 billion and National Australia Bank (ASX: NAB) $4.138 billion.
WBC’s Return on Assets is 1.1 while NAB is 0.8.
WBC’s Return on Equity is 21.6 per cent while NAB’s is 16.9 per cent.
Finally, Westpac’s price is $24.24 and its P/E is 15 times, which fully prices it.
If you look at the price chart of WBC for the last 10 years you will see a continuously ascending line from $5 to $25, a testimony to Westpac’s sustained growth strategy.
End
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