On Monday, Westpac Banking Corp. informed that its third quarter cash profit improved by 27% to A$ 1.4 billion.

The group that marked cash profit smoothed a measure that was closely checked by analysts in the previous year, and informed that during that quarter it offered A$7 billion to households and small business enterprises and subsequently witnessed A$4 billion coming in the form of deposits.

Westpac Chief Executive, Gail Kelly said that the third quarter of this financial year has exhibited a strong performance with the firm’s plans of actively helping customers and strengthening consumer relationship, which in turn gave a strong momentum to the operation.

Ms. Kelly said that credit quality had held its stable posture and now there were a few stressed assets emerging. But at the same time, being steady with the speed and cycle has furthered the rise in small business through pressurized times.

Impairment charges for bad loans arrived at A$300 million for three months till 30th June, in contrast to A$865 million for the similar period the previous year and a standard of almost A$440 million for preceding two quarters of the monetary year.