Westpac has reported a 3% decline in net profit after tax for the 2024 financial year.
The bank's return on tangible equity decreased by 38 basis points, while earnings per ordinary share were down 2%.
However, the common equity tier 1 capital ratio increased by 11 basis points.
Westpac declared a final dividend of 76 cents per share and announced a $1 billion increase in its share buyback program.
The bank's chief executive officer, Peter King, highlighted the improvement in customer service and the growth in key segments as factors that positioned Westpac for growth and success.
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