Westpac Profit Climbs on Home Loans, Institutional Bank Lending

Westpac Banking Corp.’s first-quarter profit advanced amid gains in home loans and strong growth in institutional lending.

Unaudited statutory net profit came in at A$1.9 billion ($1.4 billion) in the three months to Dec. 31, according to a statement on Friday from the Sydney-based firm. That was up about 5% on the second-half average of last year.