Westpac posts $4.2bn first-half profit

By Reporter
 — 1 minute read

Westpac has announced a statutory net profit of $4.2 billion for the six months to 31 March, up 7 per cent on the prior corresponding period.

Cash return on equity for Westpac was 14 per cent, at the top end of the 13-14 per cent range the bank had targeted.

The bank announced an interim fully franked dividend of 94 cents per share, and a common equity Tier 1 capital ratio of 10.5 per cent.


Announcing the result, Westpac chief executive Brian Hartzer noted the bank has invested $1.3 billion upgrading the bank's infrastructure and delivering new services.

"Our businesses continue to perform solidly, with the results from the consumer and business banks particularly good," said Mr Hartzer.

"All businesses increased core earnings over the prior half. We are pleased that there were no on-offs, making it a clean result," he said.

The must-attend event for financial advisers is back in 2022: the ESG Summit, coming to Sydney and Melbourne in February. Walk away with vital knowledge on a number of key ESG areas to help you make informed ESG strategy decisions and to better communicate and integrate the growing ESG space to clients. Visit the website to secure your place.


Westpac posts $4.2bn first-half profit
investordaily image
ID logo


related articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.