Westpac New Zealand is highlighting growth in its business banking sector, despite expressing caution about the economic outlook for the second half of the year due to the Iran conflict. The bank announced that its net profit for the first half of the year, ending in March, increased by 4% to $545 million. At a group level, the bank allocated A$443 million in impairment charges due to the uncertain economic climate and a rise in newly impaired loans. The bank's net interest margin saw a slight increase of three basis points, reaching 2.29%. The report noted stronger home loan and business lending in the six months before the Iran war. This information was released on May 5, 2026.