Westpac Banking reports 4% growth in NPAT

Westpac Banking Corporation (ASX: WBC) has released its FY2022 results for the full year ended 30 September 2022. During FY2022, the Company delivered a solid financial result. It made steady progress on its strategic priorities.

FY2022 Highlights:

• Statutory NPAT increased 4% to AU$5,694 million compared to the previous corresponding period.
• WBC announced fully franked dividend of AU 64 cents per share.
• 2022 dividends per share increased 6% compared to FY2021.
• Cash earnings declined 1% to AU$5,276 million.
• Net Interest Margin (NIM) declined 17 bps to 1.87%.

Operational Highlights:

• All banking divisions grew core earnings strongly in 2H FY2022.
• NIM increased 5bps to 1.90% in 2H FY2022.

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