Westpac Banking Corp 6-K, filed Jun 21, 2023
Westpac Banking Corp (WEBNF)
About this 6-K
Westpac Banking Corp filed this 6-K on June 21, 2023.
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
June 21, 2023
Commission File Number 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): ¨
Incorporation by Reference
The information contained in this Report on Form 6-K, excluding the information set forth in Exhibit No. 1, shall be incorporated by reference in the prospectuses relating to the Registrant’s securities contained in the Registrant’s Registration Statements on Form F-3 (File Nos. 333-260702 and 333-260703), as such prospectuses may be amended or supplemented from time to time.
Update on Westpac’s sale of BT Platforms
On June 21, 2023, Westpac provided an update on BT Platforms1.
Westpac has concluded a competitive sales process for BT Platforms. Westpac will retain and continue to invest in the business, including the development of features to improve the adviser and investor experience, as well as the ongoing simplification and improved efficiency of its operations.
Index to Exhibits
| Exhibit No. |
Description | |
| 1 | ASX Release – Update on Westpac’s sale of BT Platforms |
Disclosure regarding forward-looking statements
The information contained in this Report on Form 6-K contains statements that constitute “forward-looking statements” within the meaning of section 21E of the U.S. Securities Exchange Act of 1934.
Forward-looking statements are statements about matters that are not historical facts. Forward-looking statements appear in a number of places in this Report and include statements regarding our intent, belief or current expectations with respect to our business and operations, macro and micro economic and market conditions, results of operations and financial condition, capital adequacy and risk management, including, without limitation, future loan loss provisions and financial support to certain borrowers, forecasted economic indicators and performance metric outcomes, indicative drivers, climate- and other sustainability-related statements, commitments, targets, projections and metrics, and other estimated and proxy data.
1 BT Platforms comprises the BT Panorama and Asgard platforms.
We use words such as ‘will’, ‘may’, ‘expect’, ‘intend’, ‘seek’, ‘would’, ‘should’, ‘could’, ‘continue’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘probability’, ‘indicative’, ‘risk’, ‘aim’, ‘outlook’, ‘forecast’, ‘f’cast’, ‘f’, ‘assumption’, ‘projection’, ‘target’, ‘goal’, ‘guidance’, ‘ambition’, or other similar words to identify forward-looking statements, or otherwise identify forward-looking statements. These forward-looking statements reflect our current views on future events and are subject to change, certain known and unknown risks, uncertainties and assumptions and other factors which are, in many instances, beyond our control (and the control of our officers, employees, agents and advisors), and have been made based on management’s expectations or beliefs concerning future developments and their potential effect upon us. Forward-looking statements may also be made, verbally or in writing, by members of Westpac’s management or Board in connection with this Report. Such statements are subject to the same limitations, uncertainties, assumptions and disclaimers set out in this Report.
There can be no assurance that future developments or performance will align with our expectations or that the effect of future developments on us will be those anticipated. Actual results could differ materially from those we expect or which are expressed or implied in forward-looking statements, depending on various factors including, but not limited to, those described in the section titled ‘Risk factors’ in Westpac’s 2023 Interim Financial Results on Form 6-K filed with the U.S. Securities and Exchange Commission. When relying on forward-looking statements to make decisions with respect to us, investors and others should carefully consider such factors and other uncertainties and events.
Except as required by law, we assume no obligation to revise or update any forward-looking statements contained in this Report, whether from new information, future events, conditions or otherwise, after the date of this Report.
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: | June 21, 2023 | By: | /s/ Yvette Adiguzel |
| Yvette Adiguzel | |||
| Tier One Attorney | |||
| ASX Release 21 June 2023 UPDATE ON WESTPAC’S SALE OF BT PLATFORMS Westpac has today provided an update on BT Platforms1. Westpac has concluded a competitive sales process for BT Platforms. Westpac will retain and continue to invest in the business, including the development of features to improve the adviser and investor experience, as well as the ongoing simplification and improved efficiency of its operations. BT is one of Australia's leading platforms providers with $131 billion in funds under administration2. It supports more than 350,000 investors and has relationships with almost half of Australia’s financial advisers with more than 7,800 active advisers using BT’s platforms3. Since the formation of its Specialist Businesses Division in May 2020, Westpac has become a much simpler and stronger bank, announcing ten business divestments4, with nine completed. For further information: Lisa Parrett Justin McCarthy Media Relations General Manager, Investor Relations M. 0432 933 796 M. 0422 800 321 This document has been authorised for release by Tim Hartin, Company Secretary. 1 BT Platforms comprises the BT Panorama and Asgard platforms 2 As at 31 March 2023 3 c.16,000 ASIC registered financial advisers as at 31 March 2023 4 BT Personal and Corporate Super, Advance Asset Management, General Insurance, Life Insurance, Lenders Mortgage Insurance, Motor Vehicle Dealer Finance and Novated Leasing, Strategic Alliances ‘Vendor Finance’, New Zealand Life Insurance, New Zealand Wealth Advisory, BT Private Portfolio Management Level 18, 275 Kent Street Sydney, NSW, 2000 |
