Provided by NZX
  • WBC33.3

    $0.270.81%

  • Open 33.03 High 33.36 Low 32.82 Bid Price 33.3

    Offer Price 33.34 Value 355222.86 Volume 10711

Current as of 27/05/16 07:19PM NZST

Westpac NZ weighs up earthquake impact

File photo
File photo

Westpac Banking Corp said its New Zealand unit could see credit losses of between $30 million and $100 million due to last month's earthquake in Christchurch.

Westpac said bad debt provisions can be absorbed by the unit's expected profit and as such Westpac New Zealand Ltd's tier I capital will not be impacted.

- NZPA

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production apcf05 at 27 May 2016 19:31:44 Processing Time: 738ms