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Westpac says it accepts ASIC's allegations.

Westpac fined $35m for home loan conduct

Westpac has agreed to pay a $35 million fine after admitting to wrongly assessing people's ability to repay mortgages.

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Perth
Why do shareholders remain silent when they are being fined in this way, for the bad behaviour of directors and employees of companies like Westpac? The shareholders are not guilty of any crime but now pay the $35 million fine in this case, while the guilty parties carry on as normal. Who wants to be a shareholder under such rules? Can this be called justice?

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
125thCIMIC Group70%16%
310thLendlease17%20%
343rdANZ Banking Group9%14%
440thWestpac-2%13%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

11/11/14
$0 Bought
11/11/14
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

7th↑Westpac$21,642.0m
8th↓ANZ Banking Group$21,071.0m
10th-Lendlease$15,350.3m
12th-CIMIC Group$13,325.4m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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