Westpac Banking Posts Q3 Net Profit Of A$1.8 Bln; Shares Down

Westpac reported Q3 net profit of A$1.8 billion, up 3% versus its first-half quarterly average. The modest year-over-year improvement suggests a mild positive earnings momentum, but the release provides limited incremental information on outlook or materially changing fundamentals.

Analysis

Westpac reported Q3 net profit of A$1.8 billion, up 3% versus its first-half quarterly average. The modest year-over-year improvement suggests a mild positive earnings momentum, but the release provides limited incremental information on outlook or materially changing fundamentals.