(Reuters) -Australia’s Westpac Banking Corp said on Wednesday net profit after tax for the first half of 2025 would be reduced by A$140 million ($89.35 million) due to hedging. The bank reported a first-half net profit of A$3.34 billion ($2.13 billion) in 2024. Westpac will announce 2025 half-year results on May 5. ($1 = 1.5672 […]
Business
Australia’s Westpac flags $89.4 million hedging hit to half-year profit
Audio By Carbonatix
(Reuters) -Australia’s Westpac Banking Corp said on Wednesday net profit after tax for the first half of 2025 would be reduced by A$140 million ($89.35 million) due to hedging.
The bank reported a first-half net profit of A$3.34 billion ($2.13 billion) in 2024.
Westpac will announce 2025 half-year results on May 5.
($1 = 1.5672 Australian dollars)
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Tasim Zahid)