• Statutory net profit down 5% on 2H25, up 3% on 1H25
• Net profit ex Notable Items down 1% on 2H25, up 1% on 1H25
• CET1 capital ratio at 12.4%, above target ratio of 11.25%

Westpac Banking Corporation has reported its 2026 half-year results, with the company delivering solid operating momentum while investing for the future. Statutory net profit was down 5% on the second half of 2025 but up 3% on the first half of 2025. Net profit excluding Notable Items was down 1% on the second half of 2025 but up 1% on the first half of 2025. The bank's CET1 capital ratio was 12.4%, above its target ratio of 11.25% in normal operating conditions. Westpac has seen balance sheet momentum with both lending and deposit growth of 7% over the year. Australian household deposit growth reflects strong transaction account growth and improved brand consideration, while business and wealth deposits increased 5%. Growth in Australian housing loans, excluding RAMS, was 7%, with the proportion of new loans originated through the proprietary channel rising during the year. Australian business lending increased 16%, with growth diversified across target sectors. The bank has also strengthened its commitment to regional Australia through branch investment, regional graduate roles, and extending the regional branch moratorium to 2030. Westpac is focused on executing its strategic priorities, including improving customer service, creating the best workplace, ensuring excellence in risk execution, investing for the future, and balancing growth with returns.

Westpac is targeting a cost to income ratio lower than the peer average and return on tangible equity above the peer average by the end of FY29.

The war in the Middle East is presenting challenges for some customers, and the economic impact of the conflict will continue through the year. The disruption to energy supply chains has driven a rise in prices, which is flowing through to businesses and households. Westpac is ready to work with the government to ensure Australia is better prepared for future events, including through ongoing investment in a reliable, sustainable energy system.