Westpac Banking Corporation · ASX:WBC
Westpac Banking — Shareholder Meeting (December 2008)
13 slides from Westpac Banking's shareholder meeting presentation, Dec 11, 2008
Slide 1: Annual General Meeting – 2008 Scorecard
Annual General Meeting For personal use only Ted Evans Chairman 2008 Scorecard • Strengthened funding and capital • Sound risk profile • Enhanced efficiency • Cash earnings up 6% • Dividend up 8% 2 2008 Annual General Meeting
Slide 2: Early reflections
Annual General Meeting For personal use only Gail Kelly Chief Executive Officer Early reflections • Westpac – 191 years of proud history • Exceptional customer base • Passionate people with high level of engagement • Strong risk management culture • Sustainability – a real strength, compelling posit
Slide 3: Strategic agenda well underway; Merger – a growth agenda
Strategic agenda well underway • Drive a strong customer culture • Stronger branch capability and more power in the front line For personal use only • Transform service delivery and processes for customers • Strengthen technology reliability and flexibility • A one team approach 5 2008 Annual Genera
Slide 4: A strong executive team; Robust performance in challenging conditions
A strong executive team Gail Kelly, CEO For personal use only Greg Bartlett Peter Hanlon Rob Coombe Philip Chronican George Frazis Brad Cooper St.George Retail & Westpac Retail & Chief Executive Institutional Bank Chief Executive Group Chief Business Bank Business Banking BT Financial Group New Zeal
Slide 5: Dividends – up 8%; Capital – Tier 1 capital boosted
Dividends – up 8% Dividends (cents per share) 160 142¢ 140 131 For personal use only 116 120 100 100 86 78 80 70 62 60 54 47 40 20 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 9 2008 Annual General Meeting Capital – Tier 1 capital boosted by $2.5 billion Tier 1 Ratio (%) 9.0% 8.32% 92bps 7.78
Slide 6: Outlook – a challenging year expected
Outlook – a challenging year expected • More challenging operating environment: - Slowing growth impacting incomes For personal use only - Customers seeking to de-leverage balance sheets - Higher bad debts expected • Westpac well placed to support customers: - Proven risk disciplines - Maintained a
Slide 7: Financial reports; Remuneration Report vote
Item 1: Financial reports To consider and receive: • The Financial Report; For personal use only • Directors’ Report; and • Auditor’s Report of Westpac Banking Corporation for the year ended 30 September 2008. 13 2008 Annual General Meeting Item 2: Remuneration Report – Non-binding Vote To adopt the
Slide 8: Election of Directors; Re-election of Ms Elizabeth Bryan
Item 3: Election of Directors • Elizabeth Blomfield Bryan • Carolyn Judith Hewson For personal use only • Lindsay Philip Maxsted • John Simon Curtis • Peter John Oswin Hawkins • Graham John Reaney 15 2008 Annual General Meeting Item 3(a): Re-election of Director – Ms Elizabeth Bryan Resolution: “Tha
Slide 9: Re-election of Hewson; Election of Maxsted
Item 3(b): Re-election of Director – Ms Carolyn Hewson Resolution: “That Carolyn Judith Hewson, who retires in accordance with Articles For personal use only 9.2 and 9.3 of the Constitution, be re-elected as a Director of Westpac Banking Corporation.” 17 2008 Annual General Meeting Item 3(c): Re-ele
Slide 10: Election of Directors Curtis and Hawkins
Item 3(d): Election of Director – Mr John Curtis Resolution: “That John Simon Curtis be elected as Director under clause 6.5 (b) For personal use only and (c) of the Merger Implementation Agreement which requires that on implementation date of the scheme of arrangement to effect the merger of Westpa
Slide 11: Election of Reaney; Non-Executive Directors' Remuneration
Item 3(f): Election of Director – Mr Graham Reaney Resolution: “That Graham John Reaney be elected as Director under clause 6.5 For personal use only (b) and (c) of the Merger Implementation Agreement which requires that on implementation date of the scheme of arrangement to effect the merger of Wes
Slide 12: Non-Executive Directors' Fees and Fee Pools
Non-Executive Directors’ Fees $m 6 $5.0m For personal use only 26% 4 lowe r $3.7m 2 0 Total for Westpac and Annualised total for merged St.George 2008 company * 2009 * Assumes no change in rate of existing Board or Committee fees and allows for three new non-executive Directors, the separate St.Geor
Slide 13: Disclaimer
Disclaimer The material contained in this presentation is intended to be general background information on Westpac Banking Corporation and its activities. The information is supplied in summary form and is therefore not necessarily complete. Also, it is not intended that it be relied upon as advice
Westpac Banking — Shareholder Meeting (December 2008) on 6ix