Westpac stock adds housing target after mixed fiscal 2026 result
Published on 11/06/2026 at 15:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWestpac balances growth and pressure
- Westpac reported a fiscal 2026 statutory net profit of 6.8 billion Australian dollars, down 1 percent year on year.
- Deposits increased 6 percent and lending rose 5 percent, led by business and institutional customers.
- The bank set a target to facilitate 100 billion Australian dollars in housing-related lending by 2030.
- Management expects interest rates to remain elevated into 2027.
Westpac Banking Corporation reported a mixed fiscal 2026 result on Monday, November 2, with stronger lending and a solid capital position offsetting pressure on statutory earnings. The latest company announcement also set a long-term housing target, adding a new strategic focus for investors.
Westpac said statutory net profit fell 1 percent to 6.8 billion Australian dollars for the year ended September 30. Net profit excluding notable items held at 7.0 billion Australian dollars, while the bank declared a fully franked final dividend of 77 Australian cents per share.
The company reported 6 percent growth in customer deposits and 5 percent growth in lending. Business lending expanded 12 percent and institutional lending increased 18 percent. Westpac also said its Australian housing loan book, excluding RAMS, grew 7 percent.
Housing target adds a strategic priority
Westpac said it aims to facilitate 100 billion Australian dollars in housing-related lending by 2030. The initiative covers new housing supply, social and affordable housing, support for renters and pathways to home ownership, according to the Westpac fiscal 2026 result announcement.
Management said inflation remains above the Reserve Bank of Australia's target range and expects interest rates to stay elevated into 2027. That outlook leaves funding competition, credit quality and net interest margins important considerations for the bank.
Quote changes since the last report
Westpac stock traded at 23.12 euros on Lang & Schwarz at 15:39 CET on Friday, November 6, 2026, compared with 22.83 euros at 15:31 CET on Thursday, November 5. The change between the two report references was 1.27 percent. The real-time quote of Westpac stock provides the latest market view.
Westpac fiscal 2026 snapshot
- Company: Westpac Banking Corporation
- ISIN: AU000000WBC1
- Lang & Schwarz quote: 23.12 euros on November 6, 2026, at 15:39 CET
- Statutory net profit: 6.8 billion Australian dollars in fiscal 2026, down 1 percent year on year
- Profit excluding notable items: 7.0 billion Australian dollars, unchanged year on year
- Final dividend: 77 Australian cents per share, fully franked
- CET1 capital ratio: 12.5 percent
Australian equities provide the broader market context for Westpac investors; see current Australian market developments.
