Blair Foster
Westpac Shares Slide Amid Profit Dip and Uncertain Economic Outlook
Westpac Banking Corporation has reported a 1% decline in its first-half net profit, totaling A$3.32 billion for the six months ending March 31, 2025. This figure fell short of market expectations, leading to a 3.8% drop in the bank's share price on the day of the announcement. The profit shortfall was attributed to contracting net interest margins and a rise in operating costs driven by technology investments and the bank’s UNITE simplification program .
· 1 min read
