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    WBC   AU000000WBC1

WESTPAC BANKING CORPORATION

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

12/02/2021 | 10:12pm EST

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

This page has been intentionally left blank

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:

only-

-

-

-

-

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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Westpac Banking Corporation published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 03:11:01 UTC.


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Sales 2022 19 529 M 14 063 M 14 063 M
Net income 2022 5 236 M 3 771 M 3 771 M
Net Debt 2022 - - -
P/E ratio 2022 14,6x
Yield 2022 5,82%
Capitalization 76 876 M 55 390 M 55 360 M
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Capi. / Sales 2023 3,82x
Nbr of Employees 40 143
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Average target price 24,68 AUD
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Peter Francis King Director
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