Investor Presentaiton
Appendix 4: Portfolio simplification progress.
Appendix
Transactions completed
Announced
Completed
Zip Co Ltd.
Oct 2020
Oct 2020
Coinbase Inc.
May 2021
Westpac NZ Wealth Advisory
Nov 2020
May 2021
Dec 2020
Divestment CET1 benefit
(bps, $m¹)
Realised 8bps, ~$350m
Realised 7bps, ~$300m
Westpac General Insurance
Dec 2020
Jul 2021
Vendor Finance
Aug 2020
Jul 2021
Westpac LMI
Mar 2021
Aug 2021
Westpac Life-NZ- Limited
Jul 2021
Feb 2022
Realised 12bps, ~$500m
Realised 1bp, ~40m
Realised 7bps, ~$300m
Realised 7bps, ~$300m
Motor Vehicle Finance
Jun 2021
Mar 2022
Realised 8bps, ~$350m
Westpac Life Insurance²
Transactions announced
Aug 2021
Announced
Aug 2022
Realised 13bps, ~$500m
Completion expected
Advance Asset Management
May 2022
First Half 2023
May 2022
Successor funds transfer (SFT) of Superannuation³
First Half 2023
Divestment benefits (should SFT of Superannuation and sale of Advance Asset Management complete)
71bps, ~$3,000m
Expected 8bps, ~$350m
Other operations within Specialist Businesses (a range of options under consideration)
Platforms
Westpac Pacific4
Auto Finance (in run-off)
1 The value of capital released also includes the benefit of lower RWA. 2 Reflects the CET1 capital impact upon completion in Second Half 2022. The accounting loss on sale in Westpac Life Insurance was included in Second Half 2021 notable items
impacting the CET1 capital ratio (-4bps) for September 2021. 3 BT personal and corporate superannuation funds. 4 On 22 September 2021, Westpac announced that the previously announced proposed sale of Westpac Pacific to Kina Bank was
terminated by mutual agreement. Following subsequent consideration of alternative options, a sale 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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