Westpac H1 Profit Misses Forecast by A$60m

Westpac Banking Corp posted H1 net profit of A$3.41bn, below analysts' A$3.47bn expectation.
Credit impairment charge rose to A$443m from A$250m YoY, driven by cautious outlook amid Middle East conflict.
Stressed loans fell to 1.16% of exposures, 20 bps lower YoY; CET1 ratio improved to 12.42% as of March 31.
Bank cited higher credit impairments, weaker Treasury income and energy price pressures from the Middle East war as reasons for the miss.