Westpac Quarterly Profit: Temporary Setback or Long-Term Concern?

Westpac Quarterly Profit Report Shows Decrease in Net Profit

Westpac Banking Corp has reported a lower first-quarter net profit, citing the impact of notable items which the company expects to reverse in the future. The Australian lender recorded an unaudited net profit of 1.5 billion Australian dollars for the three months ending December, a 6% decrease from the quarterly average of the previous six months.