Income Statement Westpac Banking Corporation

Equities

WBC

AU000000WBC1

Banks

Market Closed - Australian S.E. Other stock markets 02:10:03 2024-09-13 am EDT			5-day change	1st Jan Change
32.10 ^AUD	-0.62%		0.00%	+40.17%

Sep. 13	Westpac Banking Buys Back Over 160,000 Shares	MT
Sep. 12	Competition Regulator Authorizes Collaboration Among Banks, Industry Participants for Continuity of Cash-in-Transit Services	MT

c6e06645934acb67e8675528.9z955DbGFzw6Oq2cygAKf5JA1qJdK_h6m2VM0Hn14Gg.nWo30USWfQl3CMPek1IzHP4HusNuE6gr7DIP4AnGlCrOaAOwZfZZT11K2g

Published financial data: WESTPAC BANKING CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2019	2020	2021	2022	2023
Interest Income On Loans	32.52B	26.6B	22.13B	22.98B	42.52B
Interest Income On Investments	704M	451M	146M	270M	1.24B
Interest Income, Total	33.22B	27.05B	22.28B	23.25B	43.75B
Interest On Deposits	16.32B	10.35B	5.42B	6.09B	25.44B
Interest Expense, Total	16.32B	10.35B	5.42B	6.09B	25.44B
Net Interest Income	16.91B	16.7B	16.86B	17.16B	18.32B
Trust Income	-	-	-	-	-
Income From Trading Activities	929M	895M	719M	664M	717M
Gain (Loss) on Sale of Assets	64M	11M	195M	-826M	268M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	38M	316M	43M	25M	1M
Income (Loss) on Equity Invest. (Income Block)	-23M	-23M	-6M	-7M	-5M
Total Other Non Interest Income	2.73B	2.29B	3.41B	2.59B	2.35B
Non Interest Income, Total	3.74B	3.49B	4.36B	2.44B	3.33B
Revenues Before Provison For Loan Losses	20.65B	20.18B	21.22B	19.61B	21.64B
Provision For Loan Losses	794M	3.18B	-590M	335M	648M
Total Revenues	19.86B	17B	21.81B	19.27B	21B
Salaries And Other Employee Benefits	4.7B	4.84B	5.84B	5.64B	5.78B
Stock-Based Compensation (IS)	108M	80M	97M	88M	90M
Amort. of Goodwill & Intang. Assets	703M	804M	783M	546M	623M
Occupancy Expense	1.02B	1.01B	951M	797M	755M
Selling General & Admin Expenses, Total	3.08B	3.4B	3.63B	2.94B	2.84B
Total Other Non Interest Expense	233M	1.79B	538M	301M	336M
Non Interest Expense, Total	9.85B	11.93B	11.84B	10.32B	10.42B
EBT, Excl. Unusual Items	10.01B	5.08B	9.97B	8.96B	10.58B
Restructuring Charges	-232M	-94M	-93M	-134M	-233M
Impairment of Goodwill	-	-498M	-571M	-122M	-
Asset Writedown	-25M	-219M	-805M	-231M	-39M
EBT, Incl. Unusual Items	9.75B	4.27B	8.5B	8.47B	10.3B
Income Tax Expense	2.96B	1.97B	3.04B	2.77B	3.1B
Earnings From Continuing Operations	6.79B	2.29B	5.46B	5.7B	7.2B
Net Income to Company	6.79B	2.29B	5.46B	5.7B	7.2B
Minority Interest	-6M	-2M	-5M	-5M	-6M
Net Income - (IS)	6.78B	2.29B	5.46B	5.69B	7.2B
Preferred Dividend and Other Adjustments	6M	2M	2M	3M	-
Net Income to Common Incl Extra Items	6.78B	2.29B	5.46B	5.69B	7.2B
Net Income to Common Excl. Extra Items	6.78B	2.29B	5.46B	5.69B	7.2B
Per Share Items
Net EPS - Basic	1.96	0.64	1.49	1.6	2.05
Basic EPS - Continuing Operations	1.96	0.64	1.49	1.6	2.05
Basic Weighted Average Shares Outstanding	3.45B	3.59B	3.65B	3.56B	3.5B
Net EPS - Diluted	1.9	0.64	1.38	1.52	1.95
Diluted EPS - Continuing Operations	1.9	0.64	1.38	1.52	1.95
Diluted Weighted Average Shares Outstanding	3.73B	3.59B	4.12B	3.89B	3.89B
Normalized Basic EPS	1.81	0.88	1.7	1.57	1.89
Normalized Diluted EPS	1.68	0.88	1.51	1.44	1.7
Dividend Per Share	1.74	0.31	1.18	1.25	1.42
Payout Ratio	73.36	109.96	52.14	76.17	62.6
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
Effective Tax Rate - (Ratio)	30.35	46.27	35.74	32.71	30.12
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	3.37B	2.95B	2.74B	2.66B	3.01B
Deferred Domestic Taxes	-	-	-	-	-
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	-401M	-981M	294M	186M	88M
Normalized Net Income	6.25B	3.17B	6.23B	5.59B	6.6B
Non-Cash Pension Expense	-2M	8M	12M	11M	-14M
Supplemental Operating Expense Items
Stock-Based Comp., Other (Total)	108M	80M	97M	88M	90M
Total Stock-Based Compensation	108M	80M	97M	88M	90M

Fiscal Period: September	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	20.06B	30.13B	70.91B	105B	102B
Investment Securities, Total	83.22B	115B	89.7B	88.04B	88.92B
Trading Asset Securities, Total	52.07B	41.14B	34.37B	54.23B	38.44B
Total investments	135B	156B	124B	142B	127B
Gross Loans	719B	699B	715B	744B	778B
Allowance For Loan Losses	-3.61B	-5.6B	-4.59B	-4.21B	-4.43B
Other Adjustments to Gross Loans	-	-	-	-	-
Net Loans	715B	693B	710B	740B	773B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	1.16B	3.91B	2.85B	2.43B	2.24B
Goodwill	8.9B	8.4B	7.6B	7.39B	7.42B
Other Intangibles, Total	3.06B	3.1B	2.51B	2.93B	3.47B
Accrued Interest Receivable	1.14B	905M	720M	1.27B	2B
Other Receivables	1.16B	1.16B	869M	1B	627M
Restricted Cash	-	-	445M	303M	299M
Other Current Assets, Total	5.93B	4.78B	8.42B	6.29B	4.54B
Deferred Tax Assets Long-Term (Collected)	2.05B	3.06B	2.44B	1.75B	2.1B
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	12.61B	7.39B	4.67B	3.73B	4.16B
Total Assets	907B	912B	936B	1,014B	1,030B
Liabilities
Accounts Payable, Total	1.15B	1.25B	1.39B	1.04B	2.19B
Accrued Expenses, Total	614M	596M	803M	922M	933M
Interest Bearing Deposits	513B	531B	559B	590B	577B
Non-Interest Bearing Deposits	50.53B	59.88B	67.8B	69.03B	111B
Total Deposits	563B	591B	627B	659B	688B
Short-Term Borrowings	65.54B	67.29B	73.55B	111B	78.99B
Current Portion of Long-Term Debt	31.1B	33.92B	26.83B	21.74B	27.34B
Current Portion of Leases	-	568M	-	-	-
Long-Term Debt	146B	124B	111B	124B	133B
Long-Term Leases	-	2.36B	-	-	-
Trust Preferred Securities (BS)	-	-	-	-	-
Current Income Taxes Payable	163M	70M	71M	219M	780M
Accrued Interest Payable	2.63B	1.37B	944M	1.74B	4.14B
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities - (Bank / Utility Template)	8.38B	8.2B	9.53B	12.36B	11.33B
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	-	-	435M	15M	7M
Deferred Tax Liability Non-Current	44M	126M	90M	-	-
Other Non Current Liabilities	21.91B	13.12B	11.76B	11.32B	10.23B
Total Liabilities	841B	844B	864B	944B	957B
Common Stock, Total	37.51B	40.51B	41.6B	39.67B	39.83B
Retained Earnings	27.19B	26.53B	28.81B	29.06B	31.44B
Treasury Stock	-553M	-563M	-606M	-655M	-702M
Comprehensive Income and Other	1.31B	1.54B	2.23B	2.38B	1.94B
Total Common Equity	65.45B	68.02B	72.04B	70.45B	72.5B
Minority Interest	53M	51M	57M	57M	44M
Total Equity	65.51B	68.07B	72.09B	70.51B	72.54B
Total Liabilities And Equity	907B	912B	936B	1,014B	1,030B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.48B	3.61B	3.66B	3.5B	3.5B
ECS Total Common Shares Outstanding	3.48B	3.61B	3.66B	3.5B	3.5B
Book Value / Share	18.79	18.86	19.66	20.15	20.69
Tangible Book Value	53.5B	56.53B	61.93B	60.12B	61.61B
Tangible Book Value Per Share	15.36	15.67	16.9	17.2	17.58
Tangible Book Value Per Share (As Reported)	15.36	15.67	16.9	17.18	17.58
Average Assets	895B	920B	906B	975B	1,023B
Average Loans	695B	698B	692B	677B	705B
Total Debt	243B	228B	212B	257B	239B
Deposits at Interest - Cash	-	-	54.85B	90.55B	88.67B
Debt Equivalent of Unfunded Proj. Benefit Obligation	335M	530M	371M	-274M	-210M
Net Debt	164B	136B	104B	88.78B	86.74B
Equity Method Investments, Total	129M	61M	58M	37M	33M
Full Time Employees	33.29K	36.85K	40.14K	37.48K	33.66K
Number Of Offices	1.14K	1.1K	997	877	786

Fiscal Period: September	2019	2020	2021	2022	2023
Net Income	6.78B	2.29B	5.46B	5.69B	7.2B
Depreciation, Depletion & Amortization	351M	952M	895M	682M	575M
Amortization of Goodwill and Intangible Assets - (CF)	9M	3M	28M	1M	2M
Total Depreciation, Depletion & Amortization	360M	955M	923M	683M	577M
Amortization of Deferred Charges, Total	694M	801M	755M	545M	621M
Total Asset Writedown	25M	717M	1.38B	353M	39M
Provision for Credit Losses	966M	3.37B	-348M	524M	839M
Change in Trading Asset Securities	-7.63B	-6.9B	16.9B	-1.3B	-442M
Changes in Accrued Interest Receivable	-	-	-	-	-
Changes in Accrued Interest Payable	-	-	-	-	-
Change In Income Taxes	-	-	-	-	-
Change in Other Net Operating Assets (Collected)	5.22B	29.41B	-6.53B	-26.53B	-45.64B
Other Operating Activities	-433M	-899M	-1.85B	1.93B	1.32B
Cash from Operations	5.99B	29.74B	16.67B	-18.1B	-35.49B
Capital Expenditure	-280M	-240M	-234M	-166M	-238M
Sale of Property, Plant, and Equipment	157M	58M	62M	25M	72M
Cash Acquisitions	-	-	-	-14M	-
Divestitures	-1M	-	1.27B	2.12B	293M
Purchase / Sale of Intangible Assets	-906M	-1.04B	-740M	-1.1B	-1.14B
Investment in Marketable and Equity Securities, Total	-9.74B	-18.26B	5.26B	1.95B	2.73B
Cash from Investing	-10.77B	-19.48B	5.62B	2.81B	1.71B
Long-Term Debt Issued, Total	66.42B	36.99B	54.43B	79.84B	74.43B
Total Debt Issued	66.42B	36.99B	54.43B	79.84B	74.43B
Long-Term Debt Repaid, Total	-64.98B	-65.96B	-67.33B	-58.67B	-64.17B
Total Debt Repaid	-64.98B	-65.96B	-67.33B	-58.67B	-64.17B
Issuance of Common Stock	7M	2.76B	719M	-	-
Repurchase of Common Stock	-102M	-75M	-71M	-3.58B	-79M
Common Dividends Paid	-4.98B	-2.52B	-2.85B	-4.34B	-4.5B
Common & Preferred Stock Dividends Paid	-4.98B	-2.52B	-2.85B	-4.34B	-4.5B
Net Increase (Decrease) in Deposit Accounts - (CF)	1.11B	28.91B	33.74B	35.05B	24.69B
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-5M	-1M	-2M	-5M	-21M
Cash from Financing	-2.52B	107M	18.64B	48.29B	30.35B
Foreign Exchange Rate Adjustments	569M	-301M	298M	897M	694M
Miscellaneous Cash Flow Adjustments	-	-	-7M	7M	-
Net Change in Cash	-6.73B	10.07B	41.22B	33.9B	-2.74B
Supplemental Items
Cash Interest Paid	16.49B	11.47B	5.68B	5.09B	22.65B
Cash Income Tax Paid (Refund)	3.5B	3.09B	2.69B	2.34B	2.44B
Net Debt Issued / Repaid	1.44B	-28.97B	-12.9B	21.17B	10.26B

Fiscal Period: September	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.76	0.25	0.59	0.58	0.7
Return On Equity %	10.44	3.43	7.8	7.99	10.07
Return on Common Equity	10.43	3.43	7.79	7.99	10.07
Shareholders Value Added	-860M	-5.66B	-2.86B	-2.77B	-1.23B
Margin Analysis
SG&A Margin	44.35	54.44	47.79	48.67	44.63
Net Interest Income / Total Revenues %	85.15	98.18	77.29	89.05	87.24
EBT Excl. Non-Recurring Items Margin %	50.4	29.86	45.71	46.47	50.37
Income From Continuing Operations Margin %	34.2	13.48	25.05	29.57	34.3
Net Income Margin %	34.17	13.47	25.02	29.55	34.27
Net Avail. For Common Margin %	34.14	13.45	25.01	29.53	34.27
Normalized Net Income Margin	31.47	18.65	28.54	29.02	31.46
Asset quality
Nonperforming Loans / Total Loans %	0.93	1.59	1.33	0.97	1.07
Nonperforming Loans / Total Assets %	0.74	1.22	1.01	0.71	0.81
Nonperforming Assets / Total Assets %	0.74	1.22	1.01	0.71	0.81
NPAs / Loans and OREO	0.93	1.59	1.33	0.97	1.07
NPAs / Equity	10.25	16.29	13.17	10.28	11.5
Allowance for Credit Losses / Net Charge-offs %	367.41	573.39	772.56	564.56	1.08K
Allowance for Credit Losses / Nonperforming Loans %	53.71	50.51	48.33	58.05	53.13
Allowance for Credit Losses / Total Loans %	0.5