Edmund Anthony Biddulph Henning

Question 1

Edmund Anthony Biddulph Henning's questions to WESTPAC BANKING (WEBNF) leadership • Q1 2022

Feb 2, 2022

Question

Edmund Henning from CLSA asked about the bank's capital target, given its strong pro forma CET1 ratio, and whether there was scope to increase the size of the $3.5 billion share buyback.

Answer

CFO Michael Rowland confirmed the strong capital position and stated that a formal operating range will be provided at the half-year results after assessing APRA's final rules. CEO Peter Francis King affirmed the commitment to the existing $3.5 billion buyback, with any future capital management decisions to be made at a later time.

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Question 2

Edmund Anthony Biddulph Henning's questions to WESTPAC BANKING (WEBNF) leadership • Q3 2020

Aug 17, 2020

Question

Edmund Henning asked about the differences in support packages for businesses versus mortgages and whether businesses had started repaying. He also questioned the rationale for increasing mortgage provisions given that deferrals were falling and house price forecasts had improved.

Answer

CEO Peter Francis King explained that business packages were for 6 months, while mortgage packages were 3 months with a check-in, and that the contact process for businesses was just beginning. Regarding the mortgage provision, he stated the bank is being prudent, as the future is unpredictable, and aims to maintain a strong balance sheet and provision base.