Westpac reports $1.087 billion net profit for 12 months ending September 2026
What happened
Westpac New Zealand reported a net profit of $1.087 billion for the 12 months ended September 30, 2026, which is a 9% decrease compared to 2025. The bank grew its lending by 5% and deposits by 4%. However, the net interest margin fell to 2.23% from 2.32% in 2025, reflecting intense competition and higher impairment provisions.
From miragenews.com
Why it matters
The decline in profit reflects intense market competition and a declining interest rate cycle. Despite the lower profit, Westpac grew medium and large business lending faster than the market average. The bank also noted its commitment to supporting SMEs and women-led businesses.
From miragenews.com
Who's involved
- WestpacReported its net profit for the 12 months ending September 30, 2026
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- National Australia BankSpeculative
National Australia Bank could face pressure on market share due to intense competition for deposits and lending.
- Commonwealth BankSpeculative
Commonwealth Bank could face pressure on market share due to intense competition for deposits and lending.
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The entities involved
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Westpac
Australian bank and financial-services provider