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# Westpac Banking Corporation Reports A$3.32 Billion Half-Year Profit as UNITE Costs Lift Expenses and Margins Narrow
- URL: https://www.theglobalbanker.com/westpac-banking-corporation-reports-a-3-32-billion-half-year-profit-as-unite-costs-lift/
- Published: 2025-05-05T05:00:00.000Z
- Updated: 2026-10-02T14:35:52.000Z
- Description: Westpac posted H1 FY2025 net profit of A$3.32 billion, down 1% year-on-year, with a 76 cent interim dividend as UNITE investment lifted expenses and the net interest margin narrowed.
- Author: TGB Editorial Team
- Tags: Banking News, Asia-Pacific, #archive

Westpac Banking Corporation has reported net profit after tax of A$3.32 billion for the first half of its 2025 financial year, a 1% decline on the equivalent period a year earlier. 

Return on tangible equity came in at 10.6%, while the common equity tier 1 capital ratio stood at 12.2%. Net operating income excluding notable items was stable at A$10.99 billion for the half (A$10.79 billion reported). Westpac declared an interim dividend of 76 cents per share, fully franked.

#### EXPENSES AND MARGIN

Operating expenses rose 3% over the half to A$5.70 billion, with management attributing the increase to the expected step-up in UNITE investment, salary and wage growth and higher software amortisation. UNITE is Westpac's multi-year technology simplification programme. The programme continues to add to reported costs.

Net interest margin narrowed by 9 basis points on a half-on-half basis to 1.88%.