Westpac’s yearly net profit has risen by 26 per cent with the bank posting a full-year profit of $7.19 billion.
The strong result will see the bank launch a share buy-back program for up to $1.5 billion.
Westpac declared a final dividend of 72 cents a share.
The report reveals a 12 per cent increase from last year’s final dividend.
The result is largely in line with expectations as the bank warns operational challenges will continue into next year.
