Value Investor: Westpac's mixed fortunes

Despite growth in its net profit in recent years, Westpac's return on equity has declined. Looking ahead, there are a number of risks to the downside.

Our third article in our review of the big four banks focuses on Westpac Banking Group.

For fiscal 2014, Westpac posted a 12 per cent jump in net profit to $7.56 billion. It was a strong result, with improved profitability and solid loan growth, with mild declines in net interest margin and cost efficiency.


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