Westpac Banking Corporation · ASX:WBC
Westpac Banking — Investor Presentation (February 2012)
20 slides from Westpac Banking's investor presentation, Feb 16, 2012
Slide 1: Westpac Convertible Preference Shares Offer
For personal use only WESTPAC CONVERTIBLE PREFERENCE SHARES OFFER February 2012 Structuring Adviser Joint Lead Managers WestpacBanking Westpac Convertible Preference Corporation ABN 33 007– 457 Shares February 141. 2012
Slide 2: Disclaimer
DISCLAIMER For personal use only THIS PRESENTATION IS NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ADDRESS IN THE UNITED STATES. This presentation has been authorised by Westpac Banking Corporation (ABN 33 007 457 141) in connection with a proposed offer of Westpac Convertible Preference Shares (“West
Slide 3: Westpac Convertible Preference Shares (Westpac CPS)
For personal use only WESTPAC CONVERTIBLE PREFERENCE SHARES (WESTPAC CPS) WestpacBanking Westpac Convertible Preference Corporation ABN 33 007– 457 Shares February 141. 2012 3
Slide 4: Overview of Westpac CPS
OVERVIEW OF WESTPAC CPS For personal use only • Westpac CPS are fully paid, perpetual, convertible, unguaranteed and unsecured preference shares issued by Westpac CPS Westpac Offer size • A$750 million with the ability to raise more or less • Preferred, non-cumulative, floating rate Dividends payabl
Slide 5: Westpac CPS Key Features – Conversion, Transfer or Redemption
WESTPAC CPS KEY FEATURES – CONVERSION, TRANSFER OR REDEMPTION For personal use only • On the Scheduled Conversion Date Westpac CPS will either be: – Converted into Ordinary Shares; or – Transferred to a Nominated Party (at Westpac‟s election) for $100 cash for each Westpac CPS Scheduled • The Schedu
Slide 6: Westpac CPS Key Features – Capital Trigger Event
WESTPAC CPS KEY FEATURES – CAPITAL TRIGGER EVENT For personal use only Westpac Core Tier 1 Ratio (%)1 Capital Trigger • A Capital Trigger Event will occur if Westpac‟s Core Tier 1 Ratio Event falls to or below 5.125% on a Level 2 basis 8.25 8.09 • Westpac‟s Core Tier 1 Ratio is the ratio of Fundamen
Slide 7: Westpac CPS – Offer Summary
WESTPAC CPS – OFFER SUMMARY For personal use only • The Offer is for the issue of Westpac CPS at a Face Value of A$100 each to raise approximately A$750 million Offer with the ability to raise more or less • Westpac CPS will increase Westpac‟s capital resources and utilises Westpac‟s existing hybrid
Slide 8: Comparison to Other Westpac Tier 1 Hybrids
COMPARISON TO OTHER WESTPAC TIER 1 HYBRIDS For personal use only Westpac CPS Westpac SPS II Westpac SPS Westpac TPS ASX code WBCPC WBCPB WBCPA WCTPA Preferred units in the Legal form Preference share Stapled security1 Stapled security1 Westpac TPS Trust Floating rate Dividends Floating rate distribu
Slide 9: Key Dates
KEY DATES For personal use only Key dates for the Offer Record Date for determining Eligible Securityholders (7.00pm Sydney Time) 9 February 2012 Offer announcement and lodgement of Prospectus with ASIC 16 February 2012 Bookbuild 23 February 2012 Announcement of Margin 24 February 2012 Lodgement of
Slide 10: Westpac
For personal use only WESTPAC INVESTOR UPDATE WestpacBanking Westpac Convertible Preference Corporation ABN 33 007– 457 Shares February 141. 2012 10
Slide 11: Westpac High Quality Australian Credit
WESTPAC HIGH QUALITY AUSTRALIAN CREDIT For personal use only Westpac at a glance Total exposure by geography2 (%) Australia New Zealand Asia, Pacific, Europe & Americas • Australia‟s second largest bank and the world‟s 15th Size largest bank by market capitalisation1 • Strategy focused on markets of
Slide 12: First Quarter 2012 Update
FIRST QUARTER 2012 UPDATE For personal use only • 1Q12 cash earnings1 were approximately $1.5 billion (unaudited) and statutory net profit after tax (unaudited) for the same period Financial highlights from 1Q12 1Q121 was approximately $1.4bn: average of 3Q11 & 4Q11 – Net operating income was relati
Slide 13: Solid FY11 Financial Performance
SOLID FY11 FINANCIAL PERFORMANCE For personal use only FY11 financial summary (AUD Reported basis) FY11 business unit contributions to net profit after tax (% ) change Earnings (AUD) FY11 WRBB WIB SGB BTFG NZ Other FY10 – FY11 Net Profit ($m) 6,991 10% 22 28 Earnings per share (cents) 233.0 9% 5 Ret
Slide 14: Strong Funding and Liquidity Mix
STRONG FUNDING AND LIQUIDITY MIX For personal use only • Deposit growth fully funded balance sheet growth in FY11 - Strong deposit growth of A$30bn, exceeded loan growth by A$11bn Westpac funding composition by residual maturity1 (%) - Deposit to loan ratio improved to 63%, up 380bps on FY10 • Liqui
Slide 15: Capital Well Placed for Regulatory Change
CAPITAL WELL PLACED FOR REGULATORY CHANGE For personal use only • Strong organic capital generation capacity through solid earnings performance and ROE Core Tier 1 ratio – proforma APRA Basel III inputs at Sept 11 (%) • Well positioned for regulatory change with strong Core Tier 1 ratio under 8.09 (
Slide 16: Strong Asset Quality
STRONG ASSET QUALITY For personal use only Impaired assets to gross loans1 (bps) Stressed assets as a % of total committed exposures2 (%) Impaired 90 days past due well secured Watchlist & substandard WBC Peer 1 Peer 2 Peer 3 4.0 2.0 3.09 3.17 3.20 2.85 1.5 3.0 1.38 2.48 1.32 2.06 1.0 1.02 2.0 1.30
Slide 17: Syndicate Details
For personal use only SYNDICATE DETAILS WestpacBanking Westpac Convertible Preference Corporation ABN 33 007– 457 Shares February 141. 2012 17
Slide 18: Joint Lead Managers
JOINT LEAD MANAGERS For personal use only Westpac Institutional Bank • Allan O‟Sullivan (02) 8254-1425 Deutsche Bank • Mozammel Ali, (02) 8258-1845 National Australia Bank • Nicholas Chaplin, (02) 9237-9518 RBS Morgans • Steven Wright, (07) 3334-4941 UBS • Andrew Buchanan, (02) 9324-2617 Westpac Con
Slide 19: Important Information
IMPORTANT INFORMATION For personal use only The information in this presentation is an overview and does not contain all information necessary to make an investment decision. It is intended to constitute a summary of certain information relating to Westpac and does not purport to be a complete descr
Slide 20: Contacts
CONTACTS For personal use only For further information on Westpac including: Westpac contacts details • Annual Reports Capital Management • Financial Results Curt Zuber • Presentations and webcasts Group Treasurer Please visit our investor website +61 2 8253 4230 www.westpac.com.au/investorcentre cz
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