Westpac details FY25 restructuring charge, notable items
Westpac has disclosed a pre-tax restructuring charge of A$273 million for the second half of 2025, part of its "Fit for Growth Program" productivity initiatives. While modest benefits were realized in FY25, the majority are expected in FY26 and FY27. This charge will be included in operating expenses for 2H25 and reported within Group Businesses, but will not be classified as a Notable Item.
The company also announced revisions to segment composition in 2025, including transferring merchant services to WIB and auto finance portfolio contributions to Group Businesses, affecting 1H25 restatements. These changes do not impact the Group's net profit after tax (NPAT). Additionally, Westpac reported that its FY25 net profit after tax will be reduced by A$56 million due to hedging-related Notable Items, an improvement from the A$123 million reduction in FY24.
Full Year 2025 results are scheduled for announcement on Monday, November 3, 2025.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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