Westpac Banking Corp

WBC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Westpac Earnings: Profit and Lending on the Up, but Valuation Stretched

Nathan Zaia

Feb 13, 2026

Westpac's first-quarter 2026 underlying net profit after tax of AUD 1.9 billion increased 6% on the average of the prior two quarters. With top-line growth soft, a 5% drop in operating expenses drove the result. Net interest margins dipped 1 basis point to 1.94%.

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Westpac Banking Corp

Westpac Earnings: Profit and Lending on the Up, but Valuation Stretched

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