Provided by NZX
  • WBC39.03

    $0.030.08%

  • Open 39 High 39.1 Low 38.75 Bid Price 38.2

    Offer Price 39.1 Value 2995948.78 Volume 76572

Current as of 27/02/15 07:40PM 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

© Copyright 2015, APN New Zealand Limited

Assembled by: (static) on production apcf03 at 01 Mar 2015 20:06:15 Processing Time: 788ms