Skip to content
Subscriber Only
Business

Westpac Shares Climb on Profit Beat, Further Cost Cuts

  • Economic outlook is “pretty postive,” says CEO Peter King
  • Bank’s credit quality continues to improve, Westpac says
A pedestrian walks past a Westpac Banking Corp. branch in Sydney, Australia.

A pedestrian walks past a Westpac Banking Corp. branch in Sydney, Australia.

Photographer: Brent Lewin/Bloomberg
Updated on

Follow us at Twitter and Facebook for the latest, and sign up to get the Australia Briefing newsletter in your inbox.

Westpac Banking Corp.’s first-half profit topped analyst estimates as costs continued to decline, offsetting ongoing competition in mortgages and business lending. The stock opened higher.