Westpac Financial Performance Update
6 |
Sound financial performance
WNZL Cash Earnings 1H15 – 1H16 (NZ$m)
Increased insurance and
wealth income offset by
lower customer fees
Increased investment
including brand and
customer service
transformation
1H16 Cash Earnings Results
(NZ$m)
1H16
% Change
1H16-1H15
Total income
1,082
2%
Expenses
(457)
(8%)
Core earnings
625
(1%)
(profit before provisions)
Impairment charges
(9)
(71%)
Cash earnings
445
2%
Net interest margin
2.15%
(8bps)
437
Balance sheet and asset quality
Loans
$71.7bn
8%
Deposits and other borrowings
$54.9bn
7%
Deposit to loan ratio
76.6%
(76bps)
Impaired assets to TCE
35bps
(20bps)
Loans up 8%, Deposits up
7% offset by NIM
compression on mortgage
lending
26
26
12
(33)
Asset quality improved
across business and
consumer segments. Stress
emerging in Agri
22
22
445
1H15
Cash earnings up $8m / 2% to $445m
PRIVATE & CONFIDENTIALView entire presentation