Key highlights

  • Westpac reported unaudited statutory net profit of A$1.8 billion for 3Q26, up 3% on the 1H26 quarterly average.
  • Net profit excluding notable items was A$1.8 billion, up 2%, and the CET1 ratio was 12.1%.
  • Westpac held a Data, Digital and AI Update on 15 September 2026.

Westpac Banking Corporation (ASX:WBC) issued its 3Q26 update on 10 August 2026. The document provided is a quarterly update, not a full-year annual report. It reported unaudited profit and capital. A separate Data, Digital and AI Update was presented in September 2026.

About Westpac

Westpac is one of Australia’s four major banks, providing consumer, Business and institutional banking and Wealth services in Australia and New Zealand.

Third-quarter update

Unaudited statutory net profit was A$1.8 billion, up 3% on the 1H26 quarterly average. Unaudited net profit excluding notable items was A$1.8 billion, up 2% on the same basis. The CET1 Capital ratio was 12.1%, above the target ratio of 11.25% in normal operating conditions.

The company said it continued to execute its strategy, with an improved operating performance, and that its focus was on supporting customers through uncertainty while delivering sustainable returns.

Data, Digital and AI Update

On 15 September 2026 the bank presented a Data, Digital and AI Update. The presentation covers data foundations, digital customer engagement and AI, with themes including growing transaction banking balances and delivering the whole bank to customers, and an estimated annual benefit from five operational AI agents across mortgages and consumer finance. The presentation file is largely graphical, so detailed figures are limited here.

Risks to consider

The update provides unaudited figures and limited detail, and the quarterly profit is compared with an average of the first half rather than with a full year. The bank referred to supporting customers through uncertainty.

Bank Earnings depend on net interest margins, Credit costs, competition and regulation. Technology and AI programs need Investment and execution, and their benefits are estimates.

Catalysts to watch

Items to watch include the full-year result, the CET1 ratio relative to the 11.25% target, notable items, and delivery of the AI and digital programs.