Australia's Westpac on track for worst week in 14 months on Mideast risks

Westpac Banking

17/04/2026 05:52

** Shares of Australia's Westpac WBC.AX headed for weekly loss of 7.2%, worst decline since February 2025

** Stock falls as much as 1.7% to a more than two-week low of A$39.33, with financials .AXFJ down 0.5%

** Shares fell 2.6% on Tuesday after co said the Middle East conflict and resultant energy market shocks are emerging as profit pressures for first half, warning that net interest margin in treasury and markets division was weaker amid interest-rate volatility

** Raises credit impairment charge to 10 bps from 6 bps in first half last year across its A$879 bln ($630.07 bln) lending portfolio

** Stock up ~6% YTD

($1 = 1.3951 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))