Westpac Reports Full-Year Earnings and Warns of Housing Downturn

Westpac reported flat annual profit for the year ended September 30, 2026, as higher interest rates weighed on margins. The bank warned of a housing downturn it described as the steepest in nearly two decades, while credit impairment charges doubled. Stressed loans fell by 11 basis points year-on-year as a share of the loan book, and Common Equity Tier 1 capital increased in the September quarter. Management said cost control remains important to offset margin pressure.