Westpac stock weighs lower FY26 profit against steady dividend

Published on 11/09/2026 at 09:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Westpac stock faces a mixed FY26 result after statutory profit fell while underlying earnings held steady. The bank kept its fully franked final dividend unchanged.

Westpac balances profit and dividends

Statutory FY26 net profit fell 1 percent, while net profit excluding Notable Items was flat.
Deposits grew 6 percent and lending increased 5 percent, led by Business and Institutional banking.
Westpac targets 100 billion Australian dollars in housing-related lending by 2030 and expects rates to remain elevated into 2027.

Westpac, AU000000WBC1, Illustration mit AI erstellt.

Westpac reported its fiscal 2026 result on Monday, November 2, with statutory net profit down 1 percent to 6.8 billion Australian dollars. The bank said net profit excluding Notable Items was flat at 7.0 billion Australian dollars. The figures were published in the Westpac FY26 result media release.

Growth offsets earnings pressure

Balance-sheet growth was a key support. Customer deposits increased 6 percent and lending rose 5 percent. Business lending advanced 12 percent, while Institutional lending grew 18 percent. Westpac also reported a 2 percent increase in Consumer revenue.

Chief Executive Officer Anthony Miller said the bank was investing in its people and technology while maintaining a disciplined approach to costs. Westpac said it had moved further into the implementation phase of its UNITE transformation programme.

Dividend remains unchanged

The board declared a fully franked final dividend of 77 Australian cents per share. Westpac also said it had increased first-party mortgage origination and would continue to make this a priority. The dividend gives shareholders continued income support despite the decline in statutory earnings.

The bank announced a target to facilitate 100 billion Australian dollars in housing-related lending by 2030. The plan covers new housing supply, social and affordable housing, support for renters and pathways to home ownership. Westpac said it helped more than 190,000 Australians purchase a home during the year.

Rates remain a key risk

Westpac expects interest rates to remain elevated into 2027 and said inflation is still above the Reserve Bank of Australia's target range. That outlook keeps pressure on household affordability and lending demand, even as the bank sees strong credit demand among Business and Institutional customers.

The real-time quote of Westpac stock was 22.67 euros on Lang & Schwarz at 09:20 CET on Monday, November 9.