Westpac reports full year profit of $6.8 billion
Westpac reported a flat annual profit of $6.8 billion as the bank prepares for further interest rate hikes by the Reserve Bank of Australia. CEO Anthony Miller warned that the battle against inflation is ongoing, with mortgage holders facing increased financial pressure.
Why it matters
The bank's performance and the RBA's interest rate trajectory directly impact the cost of living and mortgage affordability for millions of Australian households.
- 12.46am . First published November 1, 2026 - 11.27pm
shares Share article A big four bank has warned that the inflation battle is far from over while politicians fear jobs and businesses will be lost after the Reserve Bank of Australia’s (RBA) expected rate rise on Tuesday.
Westpac chief executive Anthony Miller said he expects the central bank to keep pursuing the battle to bring inflation down as his bank reported a flat annual profit of nearly $7 billion.
Westpac on Monday reported a full-year profit of $6.8 billion. Getty
“We’re seeing the Reserve Bank very actively go after that challenge ... with four rates increases and likely one or two more from here,” he said.
Australia’s second-largest mortgage lender recorded a net profit for the year to September 30 of $6.8 billion, down 1 per cent.
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