Westpac Banking Corp

WBC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Westpac Earnings: Unite Is Costly but Not Hurting Lending and Deposit Growth

Nathan Zaia

Nov 3, 2025

Westpac's fiscal 2025 profit fell 2% to AUD 7 billion. Loan growth supported a 3% increase in revenue but proved no match for a 9% increase in operating expenses. In addition to wage growth, the big drag came from restructuring costs and ramping up work on its simplification project—Unite.

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Westpac Banking Corp

Westpac Earnings: Unite Is Costly but Not Hurting Lending and Deposit Growth

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