Westpac first-quarter profit rises on loan, deposit growth

Core Insights - Westpac Banking Corp reported a 6% increase in first-quarter underlying net profit compared to the average of the previous two quarters, indicating strong financial performance driven by growth in customer deposits and loans [1] Company Performance - The increase in underlying net profit is attributed to solid growth across customer deposits and loans, reflecting the bank's effective strategies in attracting and retaining customers [1]