Westpac Banking Corp (ASX:WBC) is trading down 0.6% after releasing its FY25 financial result, keeping in mind the bank has a 30 September financial year end.
Statutory core earnings of $10,468m were in-line with market estimates, as was the net-interest margin (NIM) of 1.94%.
The banked commented in its outlook statement: “The Australian economy, following a sustained period of below trend growth, is showing signs of improvement.”
“GDP growth of 1.3% in 2024 is expected to rise to 2.1% in 2025 and 2.4% in 2026. Despite improved activity, the unemployment rate has
continued to edge higher and is expected to stabilise at approximately 4.5%.”
