Investor Presentaiton
Select cost reset targets.1
Expenses
Metric
•
Sale of non-core businesses
Portfolio
simplification
Completion of sales
FY20 baseline
1 under sale
agreement
FY22
7 completed
2 under sale
agreement
FY24 target
11 transactions
completed8
•
Mortgages processed on digital
origination platform²
32%
82%
100%
Business
simplification
•
Consumer sales via digital³
•
Branch transactions4
•
Number of products5
42%
43%
70%
29 million
23 million
~40% less
1,191
805
~450
•
Offshore locations6
8
7
4
Organisational
simplification
•
Reduce third party and contractor spend
>$200m per annum?
·
Reduce head office roles - more than 20%
>$200m
>$200m p.a
(12%)
(20%)
1 The information on this page contains 'forward-looking statements' and statements of expectation reflecting Westpac's current views on future events. They are subject to change without notice and certain risks, uncertainties and assumptions which
are, in many instances, beyond its control. They have been based upon management's expectations and beliefs concerning future developments and their potential effect on Westpac. Should one or more of the risks or uncertainties materialise, or
should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied in such statements. Investors should not place undue reliance on forward-looking statements and statements of expectation. Except as
required by law, Westpac is not responsible for updating, or obliged to update, any matter arising after the date of this presentation. The information in this page is subject to the information in Westpac's ASX filings, including in its 2022 Full Year
Financial Results and elsewhere in this presentation. 2 Percentage of home loan applications through digital mortgage origination platform for 1st party lending (excluding RAMS). FY24 target refers to both 1st and 3rd party across Consumer and
Business. 3 Refer to page 136 for definition. 4 Reduction to FY24 represents decrease on baseline. 5 Includes products for sale and not for sale across Australia and New Zealand, except for institutional products which are for sale only. 6 Represents
international locations excluding New Zealand and Westpac Pacific. 7 $200m is based on savings from volume and rate management, and includes consulting engagements. 8 There are two remaining businesses in Specialist Businesses: Platforms and
Westpac Pacific. At this point, the sale of Westpac Pacific appears unlikely in the short to medium term.
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Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack
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