Westpac stock weighs lower FY26 profit against steady dividend
Published on 11/10/2026 at 09:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSProfit, dividend and outlook
- Statutory earnings declined while adjusted profit remained broadly stable.
- Westpac maintained its fully franked final dividend and continued to strengthen lending and deposits.
- Management expects elevated interest rates to challenge households and businesses into 2027.
Westpac Banking Corporation reported a mixed fiscal 2026 result on Monday, November 2, with statutory profit declining while adjusted earnings held broadly steady. The figures were released by Westpac in its FY26 result announcement.
Statutory net profit fell 1 percent from the previous financial year to AUD 6.8 billion. Net profit excluding Notable Items was AUD 7.0 billion and broadly unchanged from FY25, indicating that balance-sheet growth and cost control offset pressure from higher credit charges and a lower net interest margin.
Customer deposits increased 6 percent and lending grew 5 percent. Business lending advanced 12 percent, while Institutional lending rose 18 percent. Westpac also said it had helped more than 190,000 Australians purchase a home during the year and set a target to facilitate AUD 100 billion in housing-related lending by 2030.
The board declared a fully franked final dividend of 77 cents per share. Westpac said the payment is due on December 21, 2026, and the total ordinary dividend for the year is 154 cents per share. The bank's CET1 capital ratio was 12.5 percent, above its target ratio of 11.25 percent in normal operating conditions.
Credit growth meets economic pressure
Chief Executive Anthony Miller said Westpac had improved the customer experience, grown its core businesses and maintained a strong balance sheet while continuing to invest in people, technology and the UNITE transformation program. The company also said 95 percent of its employees were using artificial intelligence tools, while stressing the need for responsible implementation and training.
Miller described the Australian economy as holding up relatively well, supported by business investment and resilient demand for credit among business and institutional customers. At the same time, Westpac expects inflation to remain above the Reserve Bank's target range and interest rates to stay elevated into 2027, creating continued pressure for households and businesses.
Westpac stock traded at 23.07 euros on Lang & Schwarz at 09:34 CET on Tuesday, November 10.
Westpac Banking Corporation
- ISIN: AU000000WBC1
- Ticker: WBC
- Home exchange: ASX
- Lang & Schwarz price: 23.07 euros on November 10, 2026, at 09:34 CET
- Fiscal 2026 statutory net profit: AUD 6.8 billion
- Fiscal 2026 net profit excluding Notable Items: AUD 7.0 billion
- Final dividend: 77 cents per share, fully franked
The S&P/ASX 200 provides the relevant Australian market backdrop for Westpac shares.
Westpac's more news and analyses on Westpac stock will remain focused on the dividend payment, the November 25 sustainability update and the Annual General Meeting scheduled for December 16, 2026.
