Joyce Moullakis's questions to WESTPAC BANKING (WEBNF) leadership • Q1 2021
Question
Joyce Moullakis from News Corp asked how the bank is factoring in the impact of sporadic COVID-19 lockdowns and whether mortgage cashback offers are now considered a permanent market feature.
Answer
CEO Peter Francis King stated that while sporadic lockdowns create uncertainty, the bank observes that economic activity rebounds very quickly once they are lifted. Regarding cashback offers, he views them as a standard feature of a competitive market that is likely to persist, rather than a temporary phenomenon linked to specific funding facilities.