Westpac lifts dividends after 1% statutory profit decline

Westpac released FY26 full-year results on 2 November 2026 with statutory net profit of A$6.813 billion, down 1% from FY25, and revenue from ordinary activities of A$22.602 billion, up 1%. Net profit excluding Notable Items was A$6.99 billion, flat on A$6.97 billion a year earlier and in line with the Visible Alpha consensus. Annual dividends were 154 cents per share, fully franked, up 1%, including a final 77 cents; the payout ratio was 77% on a statutory basis and 75% excluding Notable Items. Customer deposits grew 6% from A$723.0 billion to A$766.2 billion and loans from A$856.4 billion to A$901.3 billion. Australian housing loans excluding RAMS grew 7%, or 1.1 times the APRA housing system. Net interest margin fell from 1.94% to 1.87%. Impairment charges more than doubled to A$864 million. The CET1 ratio was 12.5%, above the 11.25% target, with about A$2.9 billion of capital above target after the final dividend. The RAMS loan portfolio sale completed on 1 August 2026. Contested: business lending growth is reported as 12% in one account while TipRanks cites 15% business and institutional loan growth. Anthony Miller said: "This year we've built momentum across the bank, delivering a solid result while investing in Westpac's transformation…"