• Unaudited statutory net profit up 5% on 2H25 average
• Unaudited net profit ex Notable Items up 6% on 2H25 average
• CET1 capital ratio of 12.3% above target ratio of 11.25%

Westpac Banking Corporation has provided an update on its financial performance for the first quarter of 2026. The company reported a 5% increase in unaudited statutory net profit and a 6% rise in unaudited net profit excluding Notable Items, compared to the 2H25 average. Revenue increased by 1%, driven by a 2% rise in net interest income, which more than offset a 4% decline in non-interest income. Deposit growth of $12 billion included a 3% increase in household deposits and a 4% rise in business transactional deposits. Lending grew by $22 billion, with growth of 7% in institutional lending and 3% in both Australian housing (excluding RAMS) and business lending. Net Interest Margin (NIM) decreased by 1 basis point to 1.94%, with a 3 basis point decline in core NIM partially offset by a higher contribution from Treasury and Markets. The company's CET1 capital ratio stood at 12.3% as of 31 December 2025, well above the target ratio of 11.25%. Westpac is pursuing productivity savings of more than $500 million in FY26 and has issued $18 billion in long-term wholesale funding for the financial year to date.

Westpac expects demand for both business and household credit to remain resilient, and its strong financial foundations provide it with the stability and capacity to support its people, customers, shareholders, and the broader economy.