Analysis of Westpac Banking Corporation (WBC)

CONTENTS

1 Equities and Investment Analysis of Westpac Banking Corporation (WBC) 1

1.1.Basic information about the company 1

1.2 Description of the business and analysis of its strategic position in the industry. 3

1.2.1 main business 3

1.2.2 strategic position in the industry 4

1.3.Financial analysis 5

1.3.1 Operating performance during the last five years 5

1.3.2 Financial Risk Management 7

1.4.Valuationas 8

1.5.Investment Recommendations 9

2. Equities and Investment Analysis of Santos Limited (STO) 10

2.1.Basic information about the company 10

2.2 Description of the business and analysis of its strategic position in the industry. 12

2.2.1 Business operation of Santos Limited 12

2.2.2 strategic position in the industry 13

2.3.Financial analysis 13

2.3.1 Operating performance during the last ten years 13

2.3.2 Strength of the firms 15

2.4.Valuation 16

2.5.Investment Recommendations 18

Reference 19

1 Equities and Investment Analysis of Westpac Banking Corporation (WBC)

1.1.Basic information about the company

As one of Australia's oldest bank, WBC was formerly known as New South Wales Bank and founded in 1817. In 1982 this bank has changed its name to west bank of the Pacific Ocean.

It was listed in ASX on 18 July, 1970. And the issue code is WBC. And in financial year 2013, WBC has achieved a great result and the return for shareholders are quiet satisfactory. What’s more ,WBC has strength in financial business and substantial investments underway, this group has successfully meet the needs of its customers which has amount to 12 million in the end of financial year 2013.

What’s more the change of its director, Ewen Crouch and Peter Marriott brings extensive local and international business experience,...

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Fama, Eugene F, 1968. Risk, Return and Equilibrium: Some Clarifying Comments. Journal of Finance Vol. 23, No. 1, pp. 29–40.

Treynor, Jack L, 1961. Market Value, Time, and Risk. Unpublished manuscript

Robert D. Arnott and Clifford S. Asness, 2003. "Surprise! Higher Dividends equal Higher Earnings Growth". Financial Analysts Journal. Retrieved 2011-01-04

Amedeo De Cesari, Susanne Espenlaub, Arif Khurshed and Michael Simkovic, "The Effects of Ownership and Stock Liquidity on the Timing of Repurchase Transactions", 2010