How did Westpac (ASX:WBC) perform financially in the first half of 2026?

Westpac reported a statutory net profit of $3.4 billion, which is a 3% increase compared to the first half of 2025. However, this result represents a 5% decline when compared to the immediately preceding six-month period.

What is the current dividend for Westpac (ASX:WBC) shareholders?

The bank declared an interim ordinary dividend of 77 cents per share, which is fully franked. This payout signals management's confidence in the bank's capital position and its ability to return value to retail investors during periods of market uncertainty.

How strong is Westpac’s (ASX:WBC) balance sheet following these results?

Westpac maintained a robust capital position with a Common Equity Tier 1 (CET1) ratio of 12.4%. This figure is comfortably above the bank's internal target ratio of 11.25% for normal operating conditions.

Is Westpac (ASX:WBC) gaining market share in Australian mortgages?

Yes, Westpac’s strategic focus on the Australian mortgage market resulted in growth—excluding RAMS—at 1.2 times the system average. This suggests the bank is successfully outperforming the broader market in its core lending business.

What are the main risks Westpac (ASX:WBC) is facing right now?

The primary risks include global unrest, specifically conflicts in the Middle East which are disrupting energy supply chains and driving up costs for households and businesses. These macro factors could lead to higher stress for borrowers and potential defaults.

What is the "UNITE" programme mentioned by Westpac (ASX:WBC)?

The UNITE programme is Westpac’s strategic initiative to streamline operations and create a more efficient "one bank" structure. A major milestone was recently reached with the migration of advisers to a single wealth platform on BT Panorama.

How is Westpac (ASX:WBC) approaching its regional Australian business?

Westpac is leaning into the growth potential of regional Australia by opening new service centres and expanding its agribusiness portfolio by 15%. Most notably, the bank has committed to a moratorium on regional branch closures until 2030.

Westpac posts $3.4B H1 profit amid global unrest

Written by Isaac FrancisPublished May. 4 2026Last Updated May. 4 2026

Westpac (ASX:WBC) reported a statutory net profit of $3.4 billion, a figure that represents a 3% increase on the first half of 2025 despite a 5% dip compared to the previous six months.

CEO Anthony Miller described the performance as "solid operating momentum" achieved against a backdrop of significant global uncertainty and market volatility.

While net profit excluding notable items landed at $3.5 billion, the bank maintained a robust capital position with a CET1 ratio of 12.4%, comfortably exceeding regulatory targets.

The bank’s strategic focus on the Australian mortgage market has yielded results, with growth excluding RAMS reaching 1.2 times the system average.

Despite the economic pressures of Middle Eastern conflict and disrupted energy supply chains affecting household costs, Westpac has bolstered its resilience by increasing provisions and managing expenses.

A key pillar of their current strategy includes a commitment to regional Australia, evidenced by a moratorium on branch closures until 2030 and a 15% expansion in their agribusiness portfolio.

Miller emphasised the importance of the UNITE programme and the recent migration to a single wealth platform on BT Panorama to streamline operations.

The lender declared an interim ordinary fully franked dividend of 77 cents per share.