Investor Presentaiton
Targeting a sustainable wholesale funding profile
Funding composition (%)
Term maturities by financial year ($bn)
6639
24
8858
4
4
5839
7
8
11
3
3
3
23
■Wholesale Offshore <1Yr
Wholesale Onshore <1Yr
Wholesale Offshore >1Yr
Wholesale Onshore >1Yr
Intercompany Debt
62
64
67
69
68
70
68
■ Equity
Customer Deposits
FY12
FY13 FY14 FY15 FY16 1Q17
Core funding ratio (%)
Core Funding Ratio
RBNZ Core Funding Limit
90.0%
80.0%
70.0%
60.0%
FY11
FY12
FY13
FY14
FY15
FY16 1Q17
4.5
DMTN
EMTN
Covered
NZD equivalent ($bn)
3.0
1.5
0.0
2017
2018
2019
2020
2021
2022+
Commentary
Reduced reliance on short term funding driven by strong
deposit growth
➤ Term maturities well spread for manageable annual
refinancing task
Core Funding Ratio comfortably above the RBNZ minimum
of 75%
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