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Westpac

Universal Commercial BankingFounded 1817
Reviewed by Swet Parvadiya
Company data updated: December 2024

Financial Performance

Westpac Revenue & Financials

Revenue

~$13.9B (FY2024)

Market Cap

$112B

Net Income

~$4.5B

Employees

36,000

What is Westpac's revenue?

Westpac had ~$13.9B in revenue for fiscal year 2024, down 0.2% from 2023. Net income was ~$4.5B.

Latest revenue
~$13.9B (FY2024)
Year-over-year
-0.2%
Growth rate (CAGR)
0% over 9 years
Peak revenue
~$14.3B (FY2018)
Years of data
10
Employees
36,000
How much profit does Westpac make?
Westpac reported net income of ~$4.5B for fiscal year 2024.
How many employees does Westpac have?
Westpac has about 36,000 employees.

Financial Analysis

Westpac's financial results demonstrate resilient profitability and exceptional balance sheet strength. In fiscal year 2024 (ended September 30, 2024), Westpac recorded consolidated net revenue of A$21.60 billion and a statutory net profit of A$7.00 billion, generating a high net profit margin of 32.41% and a return on equity (ROE) of approximately 10%. Net interest margin (NIM) was managed at a healthy 1.95% despite aggressive mortgage broker commission competition and deposit pricing pressures. Non-interest income was supported by consistent wealth distribution and institutional markets revenue. The bank's balance sheet is fortified by A$73.0 billion in total stockholders' equity, an APRA Common Equity Tier 1 (CET1) capital ratio of 12.5% (providing an A$9.2 billion surplus above APRA's 'unquestionably strong' benchmark of 10.25%), and a Liquidity Coverage Ratio (LCR) of 133%. Prime residential loan quality remains pristine, with 90+ day mortgage delinquencies remaining below 1.0% of the loan book.

Revenue Trend Analysis

YoY Change

-0.2%

9-Year CAGR

+0%

Peak Year

2018

Trend

Volatile

Westpac has 10 full fiscal year figures on this page, compounding at +0% annually over 9 years. The most recent year saw a 0.2% decline versus the prior year. Annual revenue peaked in fiscal year 2018 at ~$14.3B. Of 9 comparable year-over-year steps, 4 showed growth and 5 showed a decline.

Annual revenue history

Fiscal YearRevenueNet IncomeYoY Change
FY2024~$13.9B~$4.5B-0.2%
FY2023~$14B~$4.6B+10.4%
FY2022~$12.6B~$3.7B-7.6%
FY2021~$13.7B~$3.5B+5.1%
FY2020~$13B~$1.5B-2.3%
FY2019~$13.3B~$4.4B-6.7%
FY2018~$14.3B~$5.2B+1.5%
FY2017~$14.1B~$5.2B+3.9%
FY2016~$13.5B~$4.8B-3.0%
FY2015~$14B~$5.2B—

Click any row to see year details.

Keep researching Westpac

Westpac Revenue and Financial FAQ

What was Westpac's latest reported annual revenue?

In its latest audited financial reporting period, Westpac recorded consolidated net revenue of A$21.60B, demonstrating durable revenue growth across its primary operating divisions.

How profitable is Westpac?

Westpac generates industry-leading profitability, combining disciplined cost management with high gross margins to deliver substantial net earnings and superior return on equity (ROE) throughout changing economic cycles.

What is Westpac's capital and liquidity position?

Westpac maintains a fortress balance sheet equipped with ample liquid cash reserves, conservative debt leverage, and capital adequacy ratios that provide substantial safety margins above statutory regulatory requirements.

Does Westpac distribute capital to shareholders?

Westpac executes a disciplined capital allocation strategy that balances internal reinvestment into digital innovation and strategic growth with sustainable ordinary dividends and accretive share repurchase programs.

Cite or embed this data

Using these figures? Please credit CorpDigest with a link.

Cite this page
CorpDigest. "Westpac Revenue & Financials." CorpDigest, https://corpdigest.com/company/westpac/financials.
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<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Westpac reported ~$13.9B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/westpac/financials" target="_blank" rel="noopener">CorpDigest — Westpac financials</a></div>

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.