3Q25 Trading Update

Customer focus, consistent and disciplined execution

From Chief Executive Officer, Matt Comyn:

We know it has been another challenging period for many Australian households and businesses dealing with cost of living pressures. We have remained focused on proactively engaging with our customers on a range of support options to help those who need it most. Our focus on supporting our customers, investing in our franchise to deliver superior customer experiences and executing our strategy with consistency and discipline has delivered solid results for our shareholders.

Our balance sheet settings remain strong. We have maintained strong capital and provisioning levels, and have successfully completed our FY25 funding task during the March quarter. Our deliberate and long-term conservative approach to key balance sheet settings enables us to support our customers, the economy and our shareholders through a range of macroeconomic scenarios.

Delivering for our shareholders benefits many Australians. Growing pre-provision profits and strong organic capital generation support strong and sustainable dividends. During the quarter we paid $3.8 billion in dividends which benefitted ~814,000 shareholders directly and over 13 million Australians through their superannuation.

There is heightened risk to the global economy from geopolitical and macroeconomic uncertainty which could slow the domestic economy. Australia is in a relatively strong position to navigate the challenges. Australia remains an attractive place to live and work. Government investment in infrastructure and services is helping to support employment and growth, and underlying inflation is moderating. We remain focused on supporting our customers, maintaining consistent and disciplined execution, investing in our franchise and generating sustainable returns for our shareholders. 

Overview

• Unaudited statutory NPAT of ~$2.6 billion2 in the quarter. Unaudited cash NPAT of ~$2.6 billion2,3 flat on 1H25 quarterly average and up 6% on the prior comparative quarter. 
• Operating income up 1% driven by lending volume growth and higher trading income, largely offset by two less days in the quarter. Excluding non-recurring earnings, net interest margin was stable. 
• Operating expenses up 1% driven by increased investment in technology and frontline staff, partly offset by two less days in the quarter and the benefit of ongoing productivity initiatives. 
• Operating performance up 1% on the 1H25 quarterly average, up 6% on the prior comparative quarter. 
• Loan impairment expense of $223 million, with collective and individual provisions slightly higher. Portfolio credit quality has remained sound, with increases in consumer arrears and corporate troublesome and non-performing exposures. 
• Strong balance sheet settings maintained, with a customer deposit funding ratio of 77%, LCR of 133%, and NSFR of 116%. 
• A$36 billion of new long-term wholesale funding has been issued across multiple markets and products, completing our FY25 funding task. 
• CET1 (Level 2) ratio of 11.9%, up 45bpts before the payment of $3.8 billion in 1H25 dividends to ~814,000 shareholders, reflecting strong organic capital generation.

For the full 3Q25 Trading Update, please visit the ASX.

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