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| Regional Awards for Excellence 2013: Asia | |||
| Asian winners by country Australia China Hong Kong India Indonesia Japan Korea Malaysia Mongolia Pakistan Philippines Singapore Sri Lanka Taiwan Thailand Vietnam |
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Best Bank: Westpac |
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The basic numbers tell a positive story. The first-half 2013 earnings showed impressive progress on cash earnings (A$3.53 billion – $3.26 billion – for the first half), asset quality, return on equity (16.1%), customer deposits (up 12%) and margins. Behind those numbers are some other positive trends, such as $228 million in productivity savings in the first half, and a leading position in the lucrative wealth management area. All five constituent parts of the business – Westpac retail, Westpac institutional, St George, BT Financial (the wealth management business) and Westpac New Zealand – grew in core earnings in the first half. | |||
