2348 GMT - Westpac's 1Q performance will probably be seen by the market as sitting in-line with expectations, Citi analyst Thomas Strong reckons. He points out that while cash earnings were about 5% ahead of the run-rate implied by 1H consensus, this largely stemmed from the treasury unit and lower bad debts. Net interest margin trends were weaker than at its rivals, but Strong notes that Westpac grew assets at a much stronger rate. Overall, he sees the result as solid, telling clients in a note that costs are being well managed, asset quality is benign, and capital levels are strong. Citi has a last-published neutral rating and A$39.00 target price on the stock, which is down less than 0.1% at A$40.98. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 12, 2026 18:48 ET (23:48 GMT)

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