Westpac (ASX:WBC) share price on watch after posting $3.5 billion cash profit

The Westpac Banking Corp (ASX: WBC) share price will be on watch this morning.

This follows the release of the banking giant’s highly anticipated half year results.

How did Westpac perform in the first half?

For the six months ended 31 March, Westpac reported a statutory net profit after tax of $3,443 million. This was an increase of 189% over the prior corresponding period and 213% over the second half of FY 2020.

It was a similar story for its cash earnings, which came in at $3,537 million for the half. This was a 256% increase over the prior corresponding period and a 119% lift over the second half of FY 2020. This…