Westpac's 1H profit hit by A$282m of one-off costs

Westpac's 1H profit hit by A$282m of one-off costs
Staff reporters
Westpac Banking Corp said yet more "notable items" of A$282 million (NZ$304m) will reduce its first-half cash earnings and statutory net profit.The items include a further A$220m of customer refunds and associated costs and litigation provisions, and a A$115m write-down of capitalised software and other intangibles. They also include A$56m of costs associated with ending its relationship with IOOF, A$84m write-down of goodwill related to Lenders Mortgage Insurance and a A$113m loss on the sale of Westpac Pacific, including transa...