• Net profit down 9% to $3,317 million, down 4% excluding Notable Items
• Return on tangible equity (ROTE) excluding Notable Items at 11.1%
• Interim ordinary dividend of 76 cents per share, payout ratio of 75%

Westpac's performance in the first half of 2025 was marked by a 9% decline in net profit to $3,317 million, or a 4% decline to $3,457 million excluding Notable Items. The bank's return on tangible equity (ROTE) excluding Notable Items decreased 34 basis points to 11.1%. During the period, Westpac continued to strengthen its franchise through an emphasis on customer service excellence, including adding new features to its banking app, introducing innovations in scam prevention, and improving access to working capital and loan decisions for businesses. The bank's transformation agenda, driven by enterprise initiatives and the UNITE simplification program, saw 4 initiatives completed and 41 in progress in the first half. Pre-provision profit declined by 6% to $5,100 million, or 2% to $5,295 million excluding Notable Items, with net operating income stable and operating expenses up 3%. Net interest income was stable at $9,569 million excluding Notable Items, as the 3 basis point contraction in Core net interest margin was offset by a 2% increase in average interest-earning assets. Non-interest income increased 3% to $1,424 million excluding Notable Items. Operating expenses rose 3% to $5,698 million, reflecting higher investment, salary growth, and software amortisation, partially offset by cost reset actions. The bank's capital, funding, and liquidity positions remained strong, with a CET1 capital ratio of 12.2% at the end of March 2025.

Westpac declared an interim ordinary dividend of 76 cents per share, fully franked, for the first half of the 2025 financial year.