(Bloomberg) – Profit Westpac Banking Corp. He slid while the executive director Anthony Miller said that the high cost of living in the Australian economy continued to fall into customer consumption.
Most reading from Bloomberg
The unregistered net profit for three months ended on December 31st came to $ 1.7 billion ($ 1.1 billion), according to a statement from Sydney in a statement on Monday. Hedging contributed to most of the fall, with margins and profit otherwise straight.
Just a few months of work, Miller took the helm in Westpac as the Australian economy moves towards the phase of the expected monetary policy that could suppress the bank of the bank. Analysts are also cautious about the prospects after the price price has increased more than 40% last year.
“The cost of living and high interest rates are still challenging for some customers, while many companies face the cost of costs and smaller demand,” Miller said in a statement. “It is encouraging, inflation has mitigated and we could see how the Australia’s spare bank reduces the cash rate tomorrow.”
Most readings from Bloomberg Businessweek
© 2025 Bloomberg LP
