![]() Westpac Group 2019 Interim Results Presentation & Investor Discussion Pack Cash earnings excluding major remediation and restructuring items5īuilding momentum in customer franchise1,2 10 er dashboard now in place p 3% ce quality moter Score Consumer Bank #2 k #1 73% iment - 346 ATMs consolidated 1 See page 160 for definitions. 5 Major remediation and restructuring items (major items) include provisions for estimated customer refunds, payments and associated costs, along with restructuring costs associated with resetting the Groups wealth strategy. 3 Return on equity is cash earnings divided by average ordinary equity. 2 Cash EPS is cash earnings divided by the weighted average ordinary shares. Treasury 2.09% 1bp (7bps) Expense to income ratio4,5 43.7% (6bps) 193bps 1 Prior year cash earnings comparatives have been restated for the impacts of AASB 9 & AASB 15. We’re excited to support the QuintessenceLabs team as they scale their business and provide customers with a critical layer of protection.1H19 earnings snapshot 5 Reported 1H19 Change 1H19 2H181 Change 1H19 1H181 Reported net profit $3,173m (19%) (24%) Cash earnings $3,296m (14%) (22%) Cash EPS2 95.8c (14%) (23%) Return on equit圓,4 10.4% (165bps) (353bps) Margin (excl. Dr Sharma and the team at QuintessenceLabs are global leaders in developing quantum-based cybersecurity tools that help protect sovereign and commercially sensitive information. Main Sequence partner Bill Bartee added, “As computing power increases exponentially, the tools needed to secure critical data and assets must stay several steps ahead. Safeguarding data-our most valuable resource-has never been more critical and we look forward to this exciting new growth stage while continuing to develop world-leading solutions to secure our increasingly digital lives.” ![]() QuintessenceLabs founder and CEO Vikram Sharma said, “We are delighted to have secured investments from Main Sequence and TELUS Ventures and be recognized for our breakthrough commercialization of quantum enhanced cybersecurity solutions. Organisations need to start assessing their cybersecurity posture from a quantum-safe perspective.”Īccording to QuintessenceLabs, this recent investment underscores its commitment of providing quantum safe crypto solutions and services to support security communities globally. Quantum computing capabilities and power transcend that of current computing, making today’s information vulnerable to quantum computing attacks and data breaches. The firm commented, “The next greatest threat to data and information is the advent of quantum computing. ![]() The company was recently selected as a World Economic Forum Global Innovator. The round was led by Main Sequence and TELUS Ventures, and also including participation from InterValley Ventures and the Capital Property Group.įounded in 2008, QuintessenceLabs claims its products combine world class security expertise with advanced science to create high-value technology, including a quantum-based random number generator and an interoperable key and policy manager as well as a broad range of strong encryption solutions. Quantum cybersecurity firm QuintessenceLabs has secured A$25m in financing as it pushes forward its aim to take quantum cybersecurity global. ![]()
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