Westpac posts eye-watering NZ$4.55b profit, up 5.8%

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Westpac has lifted first-half profit 5.8 per cent to NZ$4.55 billion (A$4.25b).

Cash profit for the six months to March 31 was up from A$4.02 billion in the prior corresponding period, with consumer and business banking driving the increase.

Westpac bank

Source: 1 NEWS

Australian mortgage lending was up 5.6 per cent on the same time a year earlier and the lender says the quality of its loan book - which has been queried by analysts - remains "fundamentally sound".


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