• Net profit after tax down 2% to $6.97 billion
• Return on tangible equity (ex Notable Items) down 24bps to 10.97%
• Earnings per ordinary share (ex Notable Items) flat at 204 cents

Westpac Banking Corporation has reported a solid 2025 full year result, with net profit after tax down 2% to $6.97 billion and return on tangible equity (ex Notable Items) down 24bps to 10.97%. Earnings per ordinary share (ex Notable Items) were flat at 204 cents. The company saw 3% growth in net interest income to $19,473 million, with a 1bp decline in net interest margin to 1.94%. Non-interest income increased 5% to $2,991 million. Loans grew 6% to $851.9 billion, including 5% growth in Australian housing loans and 15% growth in business lending. Customer deposits grew 7% to $723.0 billion. Operating expenses increased 9% to $11,916 million, reflecting restructuring costs, technology and transformation program costs, and salary and wage growth. The credit impairment charge was 5 basis points of average loans, down from 7 basis points. Westpac's CET1 capital ratio was 12.53%, up 4bps on the prior year.

Westpac expects modest growth in the Australian economy, with challenges around inflation and unemployment. The company remains focused on relentless execution of its strategy and delivering for customers.