Investor Presentaiton
1H20
(599)
2H20
Add back notable items
NIM up 23bps mostly from the
roll-off of COVID-19 interest rate
discounts as part of support
Specialist Businesses 1H21 performance.
Cash earnings ($m)
Higher Life Insurance,
LMI and funds income
Decrease in COVID-19 support costs,
timing of project spend
and seasonality of spend
175
(86)
431 (297)
71
44
820 221
6
93
93
Up $210m or 95%
2H20 ex-notable items
Net interest income
Non-interest income
Up $733m
Operating expenses
Impairment charges
Tax and NCI
1H21 ex-notable items
94
Westpac Group 2021 Interim Results Presentation & Investor Discussion Pack
Notable items
1H21
Improved economic outlook
and improved asset quality
Specialist Businesses
Change
Key financial metrics
1H20
2H20
1H21
on 2H20
Average funds ($bn)
203.8
191.1
205.6
8%
Spot funds ($bn)
179.1
193.0
211.7
10%
Platforms deposits ($bn)
5.2
4.9
4.3
(12%)
Platform FUA market share
18.4
18.4
18.5
0.1ppt
(inc. Corp Super) 1 (%)
Retail Life Insurance in-force
949
942
938
premiums ($m)
Life Insurance claims ratio² (%)
54
48
63
Large
134
Auto Finance loans ($bn)
12.5
11.5
11.1
(3%)
1 Plan for Life, December 2020. 2 Loss ratio is claims net of reinsurance over the total earned premium plus exchange commission. 3 Gross written premium. 4 Lenders mortgage insurance.
Held for sale businesses
Key financial metrics
Change
1H20
2H20
1H21
on 2H20
Vendor Finance loans ($bn)
0.5
0.4
0.5
25%
Westpac Pacific loans ($bn)
1.8
1.6
1.4
(13%)
General Insurance GWP³ ($m)
273
282
289
2%
General Insurance claims ratio (%)
107
58
82
Large
LMI4 GWP ($m)
89
91
154
69%
LMI claims (loss) ratio (%)
15
67
3
Large
Westpac GROUPView entire presentation