Westpac Banking (WBC) Q4 2026 Earnings Report
CH:WBC Q4 2026 EPS Results
- Actual EPS
- CHF 0.59
- Consensus EPS
- CHF 0.60
- Beat/Miss
- Missed by -CHF 0.00
- One Year Ago EPS
- CHF 0.60
CH:WBC Q4 2026 Revenue Results
- Actual Revenue
- CHF 18.21B
- Expected Revenue
- CHF 3.37B
- Beat/Miss
- Beat by +CHF 14.84B
- YoY Revenue Growth
- +9.27%
Earnings Announcement Details
- Quarter
- Q4 2026
- Date
- 11/01/2026
- Time
- After Close
- Conference Call
- Sunday, November 1, 2026
Westpac Banking's next earnings date is estimated for May 3, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
The call was broadly positive, supported by a strong capital and funding position, solid balance sheet growth, business and institutional momentum, improved customer advocacy, productivity savings, and progress on UNITE and AI initiatives. However, management acknowledged flat net profit, higher impairments, margin compression, a cost-income ratio that remains too high, weak housing activity, intense competition, and ongoing macroeconomic and transformation risks. The number and significance of the stated operational and strategic positives outweighed the challenges.
For FY 2027, Westpac expects system growth to slow to 3.8%, system credit growth for business to be in the range of 6%-7% in both FY 2027 and FY 2028, and housing credit growth to slow to below 4%; it anticipates a peak-to-trough decline in house prices to be 11% before recovering in the second half of next year. In the first half of 2027, the replicating portfolio is expected to be a benefit of 2 basis points, liquid assets should provide a 2 basis point benefit, and Westpac expects a 1 basis point benefit from the September RBA rate rise on unhedged deposits, while overall lending margins are expected to edge lower, deposit mix is expected to be less of a drag, and qualification rates are expected to remain high. Expenses are expected to have similar cost growth to FY 2026, structural savings are targeted at more than AUD 600 million in FY 2027, investment spend is expected to be relatively stable, and UNITE is projected to be between AUD 850 million and AUD 950 million; UNITE will not be above AUD 3.5 billion, is planned for delivery at the end of FY 2028, and benefits are expected through the course of FY 2029. The bank is targeting a better-than-peers cost-to-income ratio by FY 2029, and does not expect to have to do the one-offs again for FY 2027 productivity.
- Strong Capital and Funding PositionWestpac maintained a peer-leading CET1 capital ratio of 12.5%, which has improved by almost 3 percentage points over the past decade. The deposit-to-loan ratio increased to a new high of 85.5%, up 15 percentage points over 10 years, while liquidity and funding metrics remained comfortably above regulatory minimums.
- Solid Balance Sheet GrowthDeposits grew 6% and lending grew 5% over the year. Housing lending increased 7%, while business and institutional lending rose 12% and 18%, respectively. Household deposits increased 7% and institutional deposits increased 14%.
- Dividend and Capital ReturnsThe board declared a final dividend of AUD 0.77 per share, taking full-year dividends to AUD 1.54 per share, fully franked. The payout ratio excluding notable items was 75%, at the top of the 65%-75% target range. Westpac also had approximately AUD 2.9 billion of capital above its CET1 target, adjusted for the declared dividend.
- Pre-Provision Profit GrowthPre-provision profit increased 4% for the full year, or 1% excluding the prior-year restructuring charge. Australia delivered pre-provision profit growth across the franchise, including 11% growth in business and 8% growth in institutional.
- Improved Return on Tangible EquityReturn on tangible equity increased 14 basis points to 11.1%.
- Business and Institutional MomentumBusiness lending grew 12% over the year, with lending excluding agribusiness growing above system in business banking. Institutional lending increased 18% for the year and 5% in the second half, with growth described as diversified and high quality. About 81% of new institutional lending was to existing customers, and almost three in four business loans were written for existing customers.
- Growth in Targeted Institutional ActivitiesWestpac increased its foreign exchange share and reported growth across debt capital markets and foreign exchange. Much of institutional lending growth supported investment in infrastructure, energy, and resources.
- Improved Proprietary Home Lending MixProprietary lending for the Westpac brand increased to 42.4% of originations in the second half of FY 2026, compared with 34.8% in the prior corresponding period. First-party home lending returned to growth.
- Customer Advocacy ImprovedConsumer NPS reached an all-time high of +10 in July, increasing four points over the financial year. Business NPS also improved by four points, while institutional relationship strength reached its highest level in more than a decade.
- Digital Engagement and Customer Service ProgressDigitally engaged customers were described as four times more active with Westpac and 35% more likely to consider Westpac their main financial institution. Since February, customers made more than 100,000 appointments through the Book a Banker tool.
- AI and Data Capability ProgressInitial AI use cases enabled models to be built and deployed five times faster. Westpac Intelligence is providing insights to bankers, and the group is continuing to invest in data, digital, and AI capabilities. Management also reported that AI use in the St.George data warehouse migration helped complete the migration more than two years earlier and at half the cost.
- UNITE Transformation Milestones DeliveredWestpac delivered all key FY 2026 UNITE milestones. The Asgard migration to BT Panorama was completed, One Commercial Bank migrations were underway, and 18 legacy applications were decommissioned. The program remains on track.
- Productivity Savings IncreasedWestpac delivered AUD 581 million of structural savings in FY 2026 and is targeting more than AUD 600 million in FY 2027. The bank also simplified 195 processes since UNITE began.
- Catalyst Operating Model ImplementedCatalyst went live across the group, moving the organization from hundreds of annual projects to 21 delivery units and six practices with persistent teams, clear accountability, and multi-year outcomes.
- Cybersecurity, Risk and Customer Protection InvestmentsWestpac continued to invest in cyber resilience, infrastructure, customer protection, operational risk controls, and responsible AI governance. Customer net scam losses declined 23%, and the bank helped prevent more than AUD 350 million in losses.
- Housing and Community Finance CommitmentWestpac set a target to finance AUD 100 billion in lending by 2030 across social, affordable, and rental housing and pathways to ownership.
- Resilient Credit Quality in Several AreasManagement described overall credit quality metrics as sound and noted that businesses continued to show resilience. Mortgage delinquencies were flat over the year, New Zealand mortgage arrears decreased by eight basis points, and business and wealth stress improved in the half.
- Strong Liquidity and Deposit FundingWestpac raised AUD 40 billion of long-term funding during the year. Quality deposit growth since September 2022 helped avoid the need to hold an additional AUD 30 billion of liquid assets, allowing that amount to be diverted to additional lending.
- Balance Sheet Optimization OpportunitiesWestpac generated more than AUD 15 billion of standardized risk-weighted asset benefits during the year and identified a strong pipeline of further optimization opportunities. RBNZ changes provided approximately AUD 5 billion of standardized benefits from 1 October, with potential APRA changes described as a similar size or possibly higher.
- Positive Business Investment OutlookManagement said the transition from public demand to private investment had been smoother and faster than expected. Business investment strengthened, supported by infrastructure, data centers, and the energy transition, with the project pipeline pointing to a further surge in investment. Westpac expects system business credit growth of 6%-7% in both FY 2027 and FY 2028.
- Strategic Focus on Existing CustomersManagement emphasized selective growth through existing customers rather than pursuing market share for its own sake. Approximately 80% of institutional activity and about 74% of business banking activity was with existing customers, while new-to-bank business wins were approximately 60%-65%.
- UNITE Cost Cap ReaffirmedManagement stated that UNITE will not exceed its AUD 3.5 billion total cost and remains on track for delivery at the end of FY 2028, with benefits expected to begin through FY 2029.
CH:WBC Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| May 03, 2027 | 2027 (Q2) | 0.59- | 0.59 | ― | ― |
| Nov 01, 2026 | 2026 (Q4) | 0.600.59 | 0.6 | -0.29% (-0.00) | |
| May 04, 2026 | 2026 (Q2) | 0.580.59 | 0.58 | 2.10% (+0.01) | |
| Nov 02, 2025 | 2025 (Q4) | 0.600.60 | 0.6 | -0.96% (-0.01) | |
| May 04, 2025 | 2025 (Q2) | 0.580.58 | 0.53 | 8.95% (+0.05) | |
| Nov 03, 2024 | 2024 (Q4) | 0.580.60 | 0.52 | 15.98% (+0.08) | |
| May 05, 2024 | 2024 (Q2) | 0.560.53 | 0.62 | -14.95% (-0.09) | |
| Nov 05, 2023 | 2023 (Q4) | 0.510.52 | 0.36 | 43.66% (+0.16) | |
| May 07, 2023 | 2023 (Q2) | 0.630.62 | 0.5 | 26.11% (+0.13) | |
| Nov 07, 2022 | 2022 (Q4) | 0.480.36 | 0.29 | 25.86% (+0.07) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
