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Investor Presentaiton

WIB 2H22 performance. Westpac Institutional Bank Change Cash earnings ($m) DVA charge and lower customer markets income, partly offset by higher non-customer markets income AIEA up 13%, NIM increased 17bps from deposit spreads and balance sheet growth: loans up 15% and deposits up 11% Higher staff expenses, payments and technology investments and uplift in ESG capabilities Lower impairment charge due to lower IAP, higher write-backs and less impact from overlays Key financial metrics 2H21 1H22 2H22 on 1H22 Revenue ($m) 1,084 1,069 1,180 10% Net interest margin (%) 1.24 1.17 1.34 17bps Expense to income ratio 67.4 54.0 51.2 (279bps) (ex notable items (%)) Net loans 67.7 74.0 85.2 15% Customer deposits 99.3 104.7 116.6 11% 148 (37) (27) 31 (40) Customer deposit to loan ratio (%) 146.6 141.5 136.8 (Large) 381 306 Stressed exposures to TCE (%) 0.64 0.20 0.35 15bps Change Key operating metrics 2H21 1H22 2H22 on 1H22 Up $75m or 25% Customer revenue¹ ($m) 1,073 1,127 1,236 10% (831) Derivative valuation adjustment (DVA) ($m) 44 (29) (59) 103% Trading revenue (non-customer) ($m) 25 45 34 34 50 64 88% 2H21 1H22 Net interest income Non-interest income Operating expenses Impairment charges Tax and NCI 2H22 Other² (58) (63) (61) (3%) Revenue per average FTE ($'000) 426 415 455 10% 1 WIB customer revenue is lending revenue, deposit revenue, sales and fee income. 2 Other includes bank levy and capital benefit. 101 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack Westpac GROUP
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