News Headline Summary

Westpac (WBC AT) chief Gail Kelly declared she is prepared to draw a line in the sand over the the bank's profitability, saying the lender will be prepared to forgo lower-returning business for areas of faster growth

- The comments came as Westpac delivered a 5 per cent lift in full-year cash profit to $6.6 billion, buoyed by a revitalized retail banking arm, tighter costs and a boost in markets-related trading income.

Full article: http://www.smh.com.au/business/kelly-reveals-banks-bid-to-chase-returns-20121105-28u2x.html#ixzz2BOLPJtcQ

05 Nov 2012 - 22:54 - Equities - Source: Sydney Morning Herald

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