Westpac Banking Cp Ord (WEBNF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to Westpac's first half 26 results briefing. I'm Justin McCarthy, Head of Investor Relations. Before we commence today, I acknowledge the traditional custodians of the land in which we meet. For us here in Barangaroo, that's the Gadigal people of the Eora Nation. I pay my respects to Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people. Pleased today to be joined by our CEO Anthony Miller and CFO Nathan Goonan and after the presentation we'll have time for Q&A. With that, over to you Anthony. Thanks Justin and good morning everyone. I'm pleased with our progress this half and we're starting to see operating momentum build across the bank. This was reflected across a range of metrics. Lending and deposits grew, operating expenses were lower while asset quality improved. In consumer and business, we deliver double-digit growth in transaction account sales. Better service quality and productivity have helped to shift more new lending toward proprietary channels. In institutional, we've continued to build deeper relationships with clients and support their growth. We maintained our robust balance sheet and capital position, providing stability to help support our customers, our people and the broader economy. This strength gives us the flexibility to navigate uncertainty and keep investing to execute our strategy. With a clear strategy, we're working to accelerate the speed at which we deliver. We are simplifying the bank, improving productivity and reducing complexity. While momentum this half is encouraging, consistency in service and performance is critical to achieve our goals. Conflict in the Middle East is having a broad economic impact that will test the resilience of economies, busin...