This report does not constitute a rating action. MELBOURNE (S&P Global Ratings) May 5, 2026--Westpac Banking Corp.'s credit losses will be a watch point amid uncertainty over the effect of weaker economic conditions on Australia's inflation and monetary policy. The bank has more than sufficient capital to handle any potential slippages. Westpac today announced a net profit after tax of A$3.5 billion (excluding notable items) for the six months ended March 31, 2026. Profit was 1% higher than in the previous corresponding period. Loan growth of 7% over the year and a 16 basis points (bps) decrease in cost-to-income ratio offset a 3 bps fall in net interest margin to 1.89% as of March 31, 2026. The results at Westpac
