Westpac posted a full year record cash profit of $7.628 billion, up 8% and better than expectations by three percentage points.
The statutory net profit for the 12 months to the end of September was up 12% to $7.562 billion.
CEO Gail Kelly said the result was high quality and reflected a customer-driven strategy.
“We have delivered on improved growth and returns, while maintaining our disciplines of strength and productivity that have become hallmarks of Westpac,” she says.
She was positive about the bank’s outlook and the business was performing well with strong momentum.
“We believe we will continue to deliver strong outcomes for our customers and our shareholders in FY15,” she says.
Westpac says it now has 23% of the housing loan market.
Full year full franked dividends are up 5% to 182 cents.
The bank was the last of the big four to report full year results.
Combined, the banks have reported net cash profits of $28.6 billion.
The ANZ reported a record $7.1 billion annual cash profit, a rise of 10%.
The NAB posted a 10% fall to $5.2 billion because of its troubled UK business.
And the Commonwealth Bank, which reports on a traditional July to June year, had a profit of $8.7 billion in 2013/14.