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Westpac Banking Corporation (ASX:WBC)

ALERT: Price-sensitive ASX Announcement for WBC
Current share price for WBC : $37.140 -3.86 (-9.41%)+
Announcement
Release
13 Feb 2026 7:30AM
Price at Release
$41.000
Full Release
download
Summary
Westpac Banking Corporation's First Quarter 2026 Update highlights a 6% increase in net profit excluding notable items, reaching $1.9 billion, and a 7% rise in pre-provision profit. Net interest income rose 2% due to balance sheet growth and stronger Treasury performance, despite a 4% drop in non-interest income. The bank experienced a robust deposit growth of $12 billion and lending growth of $22 billion. Meanwhile, the CET1 capital ratio stood at 12.3% as of December 31, 2025, with an average liquidity coverage ratio of 133%. Westpac's efforts in customer service improvements have increased transaction account sales and proprietary home lending. The transformation agenda focuses on simplifying operations and innovating services. The sale of the RAMS mortgage portfolio contributes to operational streamlining and supports future lending capacity.
Key Points
  • Net profit increased by 6% to $1.9 billion.
  • Pre-provision profit rose 7%.
  • Net interest income rose 2%.
  • Non-interest income declined by 4%.
  • Deposit growth of $12 billion.
  • Lending grew by $22 billion.
  • CET1 capital ratio at 12.3%.
  • Liquidity coverage ratio averaged 133%.
  • Focus on improving customer service.
  • Transformation agenda for operational simplification.
  • Sale of RAMS mortgage portfolio finalized.
  • Positive economic outlook and lending demand.
  • Productivity savings target of over $500 million for FY26.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.