Westpac sees earnings rise

SYDNEY - Westpac Banking Corp, Australia's fourth-biggest bank, said on Friday it expected to deliver cash earnings growth of 9-10 per cent for the fiscal year ending September 30, despite the impact of several one-off factors.

It said the full year profit will not include the A$72 million ($83.1 million) after tax profit on the sale of its sub-custody business or a A$41 million one-off increase in UK tax expenses.

Westpac is scheduled to release its full year earnings on November 3.

- REUTERS