• Strong foundations with high capital, liquidity and deposit ratios
• Momentum in business lending with 14% growth
• Balancing growth and returns in mortgages with focus on higher return segments
• Investing in technology and digital capabilities to improve customer experience

Westpac Banking Corporation has released its 1H25 Presentation and Investor Discussion Pack, providing an overview of the company's financial performance, strategic priorities, and key initiatives. The announcement highlights Westpac's strong foundations, with high capital, liquidity, and deposit ratios, as well as momentum in business lending, which grew by 14% compared to the prior period. The company is focused on balancing growth and returns in mortgages, targeting higher return segments and improving proprietary channel performance through initiatives such as adding 180 Home Finance Managers. Westpac is also investing in technology and digital capabilities to improve customer experience, including the development of the Westpac One transaction banking platform and the Biz Edge business lending origination platform. The company is progressing its UNITE transformation program, with 52% of initiatives in the implementation phase and 7% completed. Westpac's financial performance in 1H25 showed a 1% increase in net profit excluding notable items, with a 9 basis point improvement in return on tangible equity. The company's capital position remains strong, with a CET1 capital ratio of 12.2% as of March 2025.

Westpac expects to invest $350m-$400m in 2H25 on its UNITE transformation program, with around 40% of the total $2bn investment expected from FY26 to FY28. Approximately 75% of the spend is expected to be expensed.