Investor Presentaiton
New Zealand business exposures.
Business stressed exposures as a % of business TCE
5.5
4.4
■Impaired
90+ day past due and not impaired
■ Watchlist & substandard
3.3
3.1
5.0
2.6
4.0
2.0
3.0
1.5
2.9
2.2
1.6
1.3
0.1
0.1
0.1
0.5
0.3
0.3
10.1 0.3 8:3
0.2 0.1
Sep-16
Sep-17 Sep-18
Sep-19
Sep-20
Sep-21
Sep-22
00
Business TCE by industry sector %
6
CO
6
5
4
33714
10
14
27
27
16
■Finance & insurance
New Zealand
■Agriculture, Forestry and Fishing
■ Property
■Government administration & defence
■Trade
■Manufacturing
■ Utilities
■Services
■Transport & storage
Property & business services
■Construction
Accommodation, cafes & restaurants
Other industries
Chart may not add due to rounding.
Agribusiness¹ portfolio
Milk price (NZ$ kg Ms)
Sep-21
Mar-22
Sep-22
Westpac
Economics
forecast
TCE (NZ$bn)
10.6
10.6
10.5
Agriculture as a % of total TCE
7.7
7.4
7.2
9.30
9.25
% of portfolio graded as 'stressed'²
5.7
6.1
4.8
7.14
7.54
6.35
% of portfolio impaired
0.13
0.08
0.03
2018/19
2019/20
2020/21
2021/22
2022/23
1 Includes forestry and fishing. 2 Includes impaired exposures.
104
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