Australia's Westpac posts steady Q3 profit, helped by higher capital earnings

) Corp said on Monday its third-quarter net profit was largely in line with a year ago, as higher earnings on capital and hedged deposits offset rising expenses and bad loans.

However, decade-high interest rates and growing cost-of-living pressures are impacting households' ability to repay loans on time, thereby increasing financial stress for Australian banks. The country's No. 3 lender by market value said unaudited net profit was A$1.8 billion for the three months ended June 30, compared with A$1.8 billion posted a year earlier.

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