Westpac Banking : WBC - NZ Banking Group Disclosure Statement - 30 Sep 2021

For personal use only

ASX	Level 18, 275 Kent Street
	Sydney, NSW, 2000
Release

3 DECEMBER 2021

Westpac Banking Corporation - New Zealand Banking Group Disclosure Statement

Westpac Banking Corporation ("Westpac") today provides the attached Westpac New Zealand Banking Group Disclosure Statement for the year ended 30 September 2021.

For further information:
David Lording	Andrew Bowden
Group Head of Media Relations	Head of Investor Relations
0419 683 411	0438 284 863

This document has been authorised for release by Tim Hartin, General Manager & Company Secretary.

Classification: PROTECTED

For personal use only

For personal use only

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Classification: PROTECTED

Contents

	Directors' and the Chief Executive Officer, NZ Branch's statement	5
only
Financial statements
Income statement	6		Note 16 Intangible assets	34
	Statement of comprehensive income	6		Note 17 Deposits and other borrowings	35
	Balance sheet	7		Note 18 Other financial liabilities	36
	Statement of changes in equity	8		Note 19 Debt issues	37
	Statement of cash flows	9		Note 20 Provisions	38
	Note 1 Financial statements preparation	10		Note 21 Loan capital	39
	Note 2 Net interest income	15		Note 22 Related entities	41
	Note 3 Non-interest income	16		Note 23 Derivative financial instruments	44
	Note 4 Operating expenses	18		Note 24 Fair values of financial assets and financial liabilities	50
	Note 5 Auditor's remuneration	18		Note 25 Offsetting financial assets and financial liabilities	55
	Note 6 Impairment charges/(benefits)	19		Note 26 Credit related commitments, contingent assets and
use			57
personal	Note 7 Income tax expense	20	contingent liabilities
Note 8 Imputation credit account	20		Note 27 Segment reporting	58
	Note 9 Trading securities and financial assets measured at	21		Note 28 Securitisation, covered bonds and other transferred	60
	FVIS	assets
	Note 10 Investment securities	21		Note 29 Structured entities	61
	Note 11 Loans	22		Note 30 Capital management	61
	Note 12 Provision for expected credit losses	23		Note 31 Financial risk	64
	Note 13 Other financial assets	31		Note 32 Notes to the statement of cash flows	85
	Note 14 Life insurance assets	32		Note 33 Assets and liabilities held for sale	86
	Note 15 Deferred tax assets	33
	Registered bank disclosures
	i. General information	87			v. Insurance, securitisation, funds management, other
	ii. Additional financial disclosures	95			fiduciary activities, and marketing and distribution of	100
For				insurance products
	iii. Asset quality	97
	iv. Credit and market risk exposures and capital adequacy	99			vi. Risk management policies	101
	Conditions of registration					104
	Independent auditor's report					106

Westpac Banking Corporation - New Zealand Banking Group 3

Glossary of terms

Certain information contained in this Disclosure Statement is required by the Registered Bank Disclosure Statements (Overseas Incorporated Registered Banks) Order 2014 (as amended) ('Order').

In this Disclosure Statement, reference is made to five main reporting groups:

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Overseas Bank - refers to Westpac Banking Corporation;

Overseas Banking Group - refers to the Overseas Bank and all other entities included in the Overseas Bank's group for the purposes of public reporting of the group financial statements in Australia;

NZ Branch - refers to the New Zealand business (as defined in the Order) of the Overseas Bank;

Westpac New Zealand - refers to Westpac New Zealand Limited; and

NZ Banking Group - refers to the financial reporting group (as defined in the Order) of the Overseas Bank. Controlled entities of the NZ Banking Group as at 30 September 2021 are set out in Note 22 Related entities.

Words and phrases not defined in this Disclosure Statement, but defined by the Order, have the meaning given by the Order when used in this useDisclosure Statement.

personalFor

4 Westpac Banking Corporation - New Zealand Banking Group