Westpac has reported a 9% decline in unaudited net profit for the first quarter of 2025, compared to the second half of 2024.
The bank's net profit was $1.7 billion, impacted by notable items related to hedge accounting.
However, excluding these items, net profit increased by 3% to $1.9bn.
The bank's net interest margin was 1.82%, while the common equity tier 1 capital ratio was 11.9%, above the target operating range of 11% to 11.5%.
Westpac's chief executive, Anthony Miller, highlighted strong operating momentum, with customer deposit growth of $14.4bn and loan growth of $13.4bn.
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