By Alice UribeSYDNEY--Westpac Banking Corp. said its annual net profit more than doubled and it would seek to buy back shares worth up to 3.50 billion Australian dollars (US$2.63 billion). Westpac said its net profit totaled A$5.46 billion in the 12 months through September, driven by a turnaround in impairment charges and lower notable items. Analysts had expected a full-year net profit of A$5.38 billion, according to FactSet's consensus estimate. Excluding notable items, cash profit rose by 33% to A$6.95 billion. Write to Alice Uribe at alice.uribe@wsj.com(END) Dow Jones NewswiresOctober 31, 2021 17:20 ET (21:20 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.

Source: Wall Street Journal October 31, 2021 21:24 UTC