Australia's Westpac Banking Corp. (WBC.AX,WBK) said that its unaudited net profit for the third-quarter was A$1.8 billion up 6% compared to the first half 2024 quarterly average.
Excluding the impact of Notable Items, related solely to hedge accounting which will reverse over time, quarterly net profit increased 2% to A$1.8 billion. The slight decline in pre-provision profit was more than offset by a reduction in impairment charges.
The company stated that operating momentum was positive with customer deposit growth of A$15.4 billion and loan growth of A$14.7 billion. This includes Australian household deposit growth of 3% and housing loan growth of 8%, which outperformed system.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.