Episode Details
Back to Episodes
Catherine McGrath: Westpac CEO on the bank bracing for a tougher economic climate
Published 1 month, 1 week ago
Description
Westpac's CEO says they have noticed changing customer habits in the backdrop of a tougher economy.
The bank's half-year profit is up four percent, with its net profit rising to $545 million dollars.
It's down 19 percent on the previous six months.
CEO Catherine McGrath says businesses are getting good at controlling what they can.
"There's a little bit less money being spent on things like hospitality and retail spend - with businesses, some of them are pausing a bit on whether they want to do their expansion plans."
LISTEN ABOVE
See omnystudio.com/listener for privacy information.