Westpac NZ invests in simpler, safer banking for customers

Key financials (All comparisons are for the 6 months ended 31 March 2024 versus the same period last year) o Net profit of $477 million, up 11% (up 13% excluding Notable Items). o Pre-provision profit of $688 million, down 8% (down 7% excluding Notable Items). o Net operating income of $1,383 million, up 1% (up 1% excluding Notable Items). o Operating expenses of $695 million, up 11%. o Net impairment charge of $23 million, compared with an impairment charge of $154 million in the previous period. o Net interest margin 2.09%, down 2 basis points excluding Notable Items. o Home lending up 3% to $67.4 billion, Business lending up 1% to $32.7 billion, Deposits down 1% to $78.8 billion. End CA:00430619 For:WNZ Type:GENERAL Time:2024-05-06 09:58:58