6-K
WESTPAC BANKING CORP (WEBNF)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
April 30, 2025
Commission FileNumber 1-10167
WESTPAC BANKING CORPORATION
(Translation of registrant’s name into English)
275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Index to Exhibits
| ExhibitNo. | Description |
|---|---|
| 1 | ASX Release – Westpac’s Half Year 2025 (1H25) Notable Items and Reporting Changes |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| WESTPAC BANKING CORPORATION | ||
|---|---|---|
| (Registrant) | ||
| Date: April 30, 2025 | By: | /s/<br> Esther Choi |
| Esther Choi | ||
| Tier One Attorney |
Exhibit 1
| ASX<br><br><br><br><br><br><br><br>Release | Level 18, 275 Kent Street<br>Sydney, NSW, 2000 |
|---|
30 April 2025
WESTPAC’S HALF YEAR 2025 (1H25) NOTABLE ITEMS AND REPORTINGCHANGES
1H25 Notable Items
Westpac’s reported net profit after tax in 1H25 will be reduced by $140 million due to Notable Items that relate solely to hedging items, which reverse over time.
A summary of the impacts is included in Appendix 1.
Pillar 3 Reporting Changes
APRA's revised APS 330 became effective on 1 January 2025:
| · | The standard includes new disclosures; |
|---|---|
| · | The format for most disclosures is prescribed; |
| --- | --- |
| · | The frequency of disclosures varies, with specific items required on a quarterly,<br>semi-annual or annual basis; and |
| --- | --- |
| · | On transition to the revised standard, ADIs are generally not required to provide comparatives when new disclosures are reported for<br>the first time. Where comparatives are available Westpac will include this information. |
| --- | --- |
First Half 2025 results are scheduled to be announced on Monday, 5 May 2025.
For further information:
| Hayden Cooper | Justin McCarthy |
|---|---|
| Group Head of Media Relations | General Manager, Investor Relations |
| +61 402 393 619 | +61 422 800 321 |
This document has been authorised for release by Tim Hartin, Company Secretary.
Appendix1 - Summary of 1H25 Notable Items
| Economic | Hedge | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $m | hedges | ineffectiveness | Total | |||||||||||
| 1H25 | ||||||||||||||
| Net interest income | (149 | ) | (69 | ) | (218 | ) | ||||||||
| Non-interest income | 18 | - | 18 | |||||||||||
| Net operating income | (131 | ) | (69 | ) | (200 | ) | ||||||||
| Operating expenses | - | - | - | |||||||||||
| Pre-provision profit | (131 | ) | (69 | ) | (200 | ) | ||||||||
| Income tax (expense)/benefit and NCI | 39 | 21 | 60 | |||||||||||
| Net profit/(loss) | (92 | ) | (48 | ) | (140 | ) | ||||||||
| Westpac | ||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Westpac | New | |||||||||||||
| Business & | Institutional | Zealand | Group | |||||||||||
| $m | Consumer | Wealth | Bank | (A) | Businesses | Group | ||||||||
| 1H25 | ||||||||||||||
| Net interest income | - | - | - | ) | (217 | ) | (218 | ) | ||||||
| Non-interest income | - | - | - | 18 | 18 | |||||||||
| Net operating income | - | - | - | ) | (199 | ) | (200 | ) | ||||||
| Operating expenses | - | - | - | - | - | |||||||||
| Pre-provision profit | - | - | - | ) | (199 | ) | (200 | ) | ||||||
| Impairment (charges)/benefits | - | - | - | - | - | |||||||||
| Profit before income tax (expense)/benefit | - | - | - | ) | (199 | ) | (200 | ) | ||||||
| Income tax (expense)/benefit and NCI | - | - | - | 60 | 60 | |||||||||
| Net profit/(loss) | - | - | - | ) | (139 | ) | (140 | ) |
All values are in US Dollars.