Investor Presentaiton
Notable items and simplification impacts.
Notable items
($m after tax)
1H20
2H20
1H21
AUSTRAC proceedings
(1,027)
(415)
Remediation and litigation
(258)
(182)
(276)
Intangible write-downs
(46)
(568)
(199)
Asset sales / revaluation
(68)
(55)
193
Total cash earnings impact
(1,399)
(1,220)
(282)
Impact of exits and simplification
P&L contribution ($m)1
1H20
2H20
1H21
Net interest income
43
32
18
Non-interest income
124
59
27
Expenses
(40)
(41)
(26)
Core earnings
127
50
19
1 Contribution of businesses exited or simplified in respective period.
15 Westpac Group 2021 Interim Results Presentation & Investor Discussion Pack
Remediation higher in Advice and Specialist Businesses, lower in
Business
Settled historical disputes
Write-off of LMI goodwill and write-down of capitalised software
balances
Revaluation of Coinbase, final gain from Zip sale and earnout from
Vendor Finance sale
Partly offset by losses on sale and transaction costs
Exits and simplification includes
•
New Zealand wealth sale
• Reduction in correspondent banking relationships
• Exit of Energy trading
International consolidation
• Consumer fee simplification
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