Investor Presentaiton
Margins up.
Net interest margin (% and bps)
1.85
24bps
0.15
(9bps)
(5bps)
4bps
1.70
Cyclical impact from
rate lag effects
2bps
(6bps)
Obps
Treasury & Markets impact on NIM
NIM excl. Treasury & Markets
(5bps)
Exit margin 1.85%¹
1.90
0.10
1.80
1H22
Loans
Customer
deposits
Funding
Capital & other
Liquid assets
Treasury
2H22
& Markets
Term debt issuance and maturity profile² ($bn)
Tractor rate (%, bps)
.
Capital $51bn: 3yr hedge
322
Term wholesale funding
Issuance
TFF3
FLP4
43
2
35
31
Maturities
5%
-Tractor
•
Deposits $65bn: 4yr hedge
88
40
-3 year swap rate (spot)
4%
22
2
12
3%
18
12
18
42
2%
26
21
21
1%
13
FY20
FY21
FY22
FY23
FY24
0%
Sep-19
Sep-20
Sep-21
Sep-22
1 Exit margin refers to margin for the month of Sep-22 excluding Treasury & Markets. 2 Based on residual maturity and FX spot currency translation. Includes all debt issuance with contractual maturity greater than 13 months excluding US Commercial
Paper and Yankee Certificates of Deposit. Contractual maturity date for hybrids and callable subordinated instruments is the first scheduled conversion date or call date for the purposes of this disclosure. Perpetual sub-debt has been included in >FY27
maturity bucket. Maturities exclude securitisation amortisation. 3 Term Funding Facility. 4 NZ Funding for Lending Programme. 5 Tractor is the blended average rate earned on hedged capital and low rate deposits.
23
Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack
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