Westpac Banking Posts Higher Fiscal Q1 Profit, Net Operating Income

MT Newswires Live

02/17

Westpac Banking (ASX:WBC, NZE:WBC) reported Monday that its net profit, excluding notable items, for the first quarter of fiscal 2025 was AU$1.9 billion, up 3% from the quarter average in the second half of fiscal 2024.

Before adjustments, after-tax net profit was AU$1.7 billion, down 9% from the quarter average in the second half of fiscal 2024.

Net operating income, excluding notable items, for the three months ended Dec. 31, 2024, was AU$5.6 billion, up 2% from the quarter average in the second half of fiscal 2024. Before adjustments, net operating income was AU$5.3 billion.

The multinational banking and financial services company said its CET1 capital ratio was 11.9% as of Dec. 31, 2024.

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