Westpac: Profit dips, dividend up after trading halt

Westpac Banking Corporation reported a net profit of $6,916 million for the full year ended 30 September 2025, a 1% decrease from 2024. Net profit excluding notable items also decreased 2% to $6,972 million. Despite this, the company declared a fully franked final ordinary dividend of AUD 0.77 per share, contributing to a total ordinary dividend of AUD 1.53 per share for 2025, a 1% increase from 2024. The dividend will be paid on 19 December 2025 to shareholders on the register as of 7 November 2025.

The bank highlighted a strong balance sheet with a CET1 capital ratio of 12.5% and a deposit to loan ratio of 84.9%, up 137 basis points from 2024. Loan growth was 6% to $856 billion, and deposit growth was 7% to $723 billion. Westpac is progressing with its UNITE transformation program, investing $660 million in FY25, and advancing digital capabilities. The company also emphasized its commitment to supporting communities and enhancing customer security through initiatives like SaferPay, which averted $81 million in scam losses.

Operating expenses increased 9% to $11,916 million, including a $273 million restructuring charge for the Fit for Growth program. Excluding this charge, expenses rose 6%, driven by technology and UNITE program costs. Impairment charges were 5 basis points of average loans, a 2 basis points decrease from 2024, reflecting improved credit quality.