Westpac Banking H1 Profit Rises

Westpac Banking reported first-half net profit of A$3.4 billion, up 3% year over year, with EPS rising to 99.5 cents from 96.0 cents. Net profit excluding notable items was A$3.5 billion, up 1%, indicating modest underlying improvement. The results are a small positive for the bank but not a major catalyst.

Analysis

Westpac Banking reported first-half net profit of A$3.4 billion, up 3% year over year, with EPS rising to 99.5 cents from 96.0 cents. Net profit excluding notable items was A$3.5 billion, up 1%, indicating modest underlying improvement. The results are a small positive for the bank but not a major catalyst.