Westpac Banking Corporation (ASX: WBC) reported unaudited statutory net profit of AU$1.9 billion for the first quarter of FY2026, up 5% on the 2H25 quarterly average. Revenue increased modestly by 1%, driven by a 2% expansion in net interest income, though this was partly counterbalanced by a decline in non-interest income.
Lending expanded by AU$22 billion, driven by 7% growth in institutional lending and 3% growth across Australian housing (excluding RAMS) and business segments, while deposits increased by AU$12 billion. Net interest margin edged down by 1 basis point, settling at 1.94%. Asset quality remained sound, with impairment charges at 6 basis points of average loans. The CET1 capital ratio stood at a robust 12.3%, above the 11.25% target, underscoring strong capital positioning. Management remains constructive on credit demand, supported by resilient household and business conditions.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Westpac Banking Corporation – 1QFY26 Earnings Update
Westpac Banking Corporation (ASX: WBC) reported unaudited statutory net profit of AU$1.9 billion for the first quarter of FY2026, up 5% on the 2H25 quarterly average. Revenue increased modestly by 1%, driven by a 2% expansion in net interest income, though this was partly counterbalanced by a decline in non-interest income.
Lending expanded by AU$22 billion, driven by 7% growth in institutional lending and 3% growth across Australian housing (excluding RAMS) and business segments, while deposits increased by AU$12 billion. Net interest margin edged down by 1 basis point, settling at 1.94%. Asset quality remained sound, with impairment charges at 6 basis points of average loans. The CET1 capital ratio stood at a robust 12.3%, above the 11.25% target, underscoring strong capital positioning. Management remains constructive on credit demand, supported by resilient household and business conditions.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au