(Sazua.com) – Australia’s Westpac Banking Corp saw a slight 1% decrease in its first-half net profit on Monday, with increased operational expenses from tech investments overshadowing the expansion in overall lending.
The nation’s second-biggest mortgage provider announced that its net profit following taxation amounted to A$3.32 billion ($2.14 billion) for the half-year period ending on March 31, which is slightly lower than the A$3.34 billion recorded in the previous year.
That fell short of the Visible Alpha consensus estimate at A$3.43 billion.
($1 = 1.5513 AUD)
(Reported by Roshan Thomas and Shivangi Lahiri in Bengaluru; Edited by Marguerita Choy)
