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    WBC   AU000000WBC1

WESTPAC BANKING CORPORATION

(WBC)
  Report
Delayed Australian Stock Exchange  -  08:38 2022-09-28 pm EDT
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12:34aWestpac Banking Corporation Announces Ordinary Distribution on CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-03-27 for the Quarter Ending 22 December 2022, Payable on 22 December 2022
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Westpac Banking : market update presentation - July 2022 (PDF 3MB)

07/26/2022 | 06:32pm EDT

Market update

27 JULY 2022

WESTPAC BANKING CORPORATION

ABN 33 007 457 141

Session overview.

Strategic priorities,

CORE progress

Peter King

Chief Executive Officer

Becoming a

net-zero bank

Peter King

Chief Executive Officer

Anthony Miller

Chief Executive,

Westpac Institutional Bank

Digital first

banking

Chris de Bruin

Chief Executive,

Consumer & Business Bank

2 Westpac Market Update - July 2022

Momentum on our strategic priorities - two years on.

Fix

Address outstanding issues

  • CORE program on track and delivering change
  • Major remediation programs in final stages
  • Largely addressed financial crime issues - next phase to lift capability

Simplify

Streamline and focus the business

  • Announced sales of 9 businesses (of 11)
  • New operating model working well
  • Significant progress on digital

Perform

Sustainable long-term returns

  • Reorientating to growth
  • Lifting return focus
    • New 2023 capital range
    • Cost reset underway
  • Climate change - net zero commitment

3 Westpac Market Update - July 2022

Customer Outcomes and Risk Excellence (CORE) program.

  • CORE program in place to address enforceable undertaking signed December 2020
  • Aims to strengthen risk governance, accountability and risk culture
  • CEO and Group Executive accountability
  • Quarterly external assurance
  • Three-yearprogram, 19 workstreams

CORE activities progress1

Design Implement Embed

100% 77% 20%

~95% of

100% of

Implement

Embed

activities

activities

targeted to

targeted to

be complete

be complete

Mar

Jun

Sep

Dec

Mar

Jun

Sep

Dec

Mar

Jun

Sep

Dec

2021

2022

2023

1 At 30 June 2022. Completed activities have been finalised by Westpac. Activities still may be subject to Promontory Australia review.

4 Westpac Market Update - July 2022

CORE program - measuring progress towards five target states.

1

We are a well-run

Key employee survey results

Issues raised by first line

(% score out of 100)

risk management

business where risk is

90%

90%(Not 2nd or 3rd lines) (%)

actively managed

85%

"Clear in how expected

85%

"People constructively

80%challenge.."

to manage risks"

80%

75%

75%

A simplified organisational

70%

2

70%

93%

65%

76%

construct with clear

65%

69%

75%

89%

67%

60%

60%

accountabilities

55%

55%

50%

Sep-20

Jun-22

50%

Sep-20

Jun-22

Three lines of defence

Sep-20

Jun-22

3

is understood and

High-rated issues

Key controls requiring

Improved data quality

embedded

(No. of open issues)

improvement (%)

management

Our people understand

(Rating out of 5)

4

risks and proactively

manage them

233

4.22

10.8%

9.9%

2.64

5

We're known for

118

execution excellence

Sep-20

Jun-22

Sep-20

Jun-22

Sep-20

Jun-22

and getting it done

5 Westpac Market Update - July 2022

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 26 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2022 22:31:01 UTC.


© Publicnow 2022
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Financials
Sales 2022 19 158 M 12 420 M 12 420 M
Net income 2022 5 407 M 3 505 M 3 505 M
Net Debt 2022 - - -
P/E ratio 2022 14,6x
Yield 2022 5,80%
Capitalization 73 173 M 47 435 M 47 435 M
Capi. / Sales 2022 3,82x
Capi. / Sales 2023 3,51x
Nbr of Employees 34 637
Free-Float 99,5%
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Technical analysis trends WESTPAC BANKING CORPORATION
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 20,93 AUD
Average target price 24,47 AUD
Spread / Average Target 16,9%
EPS Revisions
Managers and Directors
Peter Francis King Director
Michael Rowland Chief Financial Officer
John McFarlane Chairman
Scott Collary Chief Operating Officer
Peter Ralph Marriott Independent Non-Executive Director
Sector and Competitors