SYDNEY, Nov 24 (Reuters) - Suncorp-Metway Ltd, Australia's second-biggest car and home insurer, sees year growth in banking profit before tax and bad debts in the high teens, and said it would take first-quarter impairment loss of A$73 million.
The growth in banking profit is up from previous guidance of high single-digit percentage growth, driven by strong revenue growth and projected flat expense growth year on year.
The company's cost claims from recent storms would be in excess of A$150 million ($95 million) it said in a statement.
($1=A$1.58)
(Reporting by Mette Fraende) Keywords: SUNCORP/ (mette.fraende@reuters.com; +612-9373-1815; Reuters Messaging mette.fraende.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The growth in banking profit is up from previous guidance of high single-digit percentage growth, driven by strong revenue growth and projected flat expense growth year on year.
The company's cost claims from recent storms would be in excess of A$150 million ($95 million) it said in a statement.
($1=A$1.58)
(Reporting by Mette Fraende) Keywords: SUNCORP/ (mette.fraende@reuters.com; +612-9373-1815; Reuters Messaging mette.fraende.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.