Overview

• Westpac's first-half net profit fell 1% to $3.3 billion, reflecting competitive pressures and tighter margins.
• Credit quality improved, with mortgage delinquencies dropping to 0.86% from 1.12% six months ago.
• The bank declared a 76¢ interim dividend, signaling stable returns for shareholders.
• CEO Anthony Miller flagged geopolitical risks, including U.S. tariffs, as major challenges for markets and funding conditions.
• Westpac economists project three Reserve Bank of Australia rate cuts in 2025, starting with a 25 basis-point reduction in May.