Westpac Banking : WNZL Disclosure Statement - 30 September 2021

For personal use only

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

30 November 2021

Westpac New Zealand Limited Disclosure Statement

Westpac Banking Corporation ("Westpac") today provides the attached Westpac New Zealand Limited 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, Company Secretary.

For personal use only

For personal use only

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Classification: PROTECTED

Contents

	Westpac New Zealand sustainability performance				5
only
Annual report				6
Directors' statement				7
	Financial statements
	Income statement	8		Note 16 Deposits and other borrowings	35
	Statement of comprehensive income	8		Note 17 Other financial liabilities	35
	Balance sheet	9		Note 18 Debt issues	36
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Statement of changes in equity	10		Note 19 Provisions	37
Statement of cash flows	11		Note 20 Loan capital	38
Note 1 Financial statements preparation	12		Note 21 Share capital	39
Note 2 Net interest income	17		Note 22 Related entities	40
Note 3 Non-interest income	18		Note 23 Derivative financial instruments	43
Note 4 Operating expenses	19		Note 24 Fair values of financial assets and financial liabilities	49
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Note 5 Auditor's remuneration	20		Note 25 Offsetting financial assets and financial liabilities	53
Note 6 Impairment charges/(benefits)	20		Note 26 Credit related commitments, contingent assets and	54
	Note 7 Income tax expense	21		contingent liabilities
	Note 8 Imputation credit account	21		Note 27 Segment reporting	56
	Note 9 Trading securities and financial assets measured at FVIS	22		Note 28 Securitisation, covered bonds and other transferred	57
	Note 10 Investment securities	22		assets
	Note 11 Loans	23		Note 29 Structured entities	59
	Note 12 Provision for expected credit losses	24		Note 30 Capital management	60
	Note 13 Other financial assets	32		Note 31 Financial risk	61
	Note 14 Deferred tax assets	32		Note 32 Notes to the statement of cash flows	82
	Note 15 Intangible assets	33
	Registered bank disclosures
	i. General information	83		vi. Credit exposures to connected persons	107
For	90
	ii. Additional financial disclosures		vii. Insurance business, securitisation, funds management,
	iii. Asset quality	91		other fiduciary activities, and marketing and distribution of	108
	iv. Capital adequacy under the internal models based approach,	96		insurance products
	and regulatory liquidity ratios		viii. Risk management policies	109
	v. Concentration of credit exposures to individual counterparties	106
	Conditions of registration				114
	Independent auditor's report				120

Westpac New Zealand Limited 3

Glossary of terms

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

In this Disclosure Statement, reference is made to:

only- Westpac New Zealand Limited (otherwise referred to as the 'Bank');

- Westpac New Zealand Limited and its controlled entities (otherwise referred to as the 'Banking Group'). Controlled entities of the Bank as at 30 September 2021 are set out in Note 22;

- Westpac Banking Corporation (otherwise referred to as the 'Ultimate Parent Bank'); and

- Ultimate Parent Bank and its controlled entities (otherwise referred to as the 'Ultimate Parent Bank Group').

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 Disclosure Statement.

For usepersonal

4 Westpac New Zealand Limited