Westpac Banking Corp 6-K, filed Oct 14, 2020

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

October14, 2020

CommissionFile 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): ¨

Index to Exhibits

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.

EXHIBIT 1

Level 18, 275 Kent Street

Sydney, NSW, 2000

ASX

Release

14 OCTOBER 2020

Westpac to consolidate its international operations

Following a comprehensive review of its Asia, Europe and US businesses, Westpac has decided to consolidate its international operations into three branches; Singapore, London and New York.

This decision means the Group will exit operations in Beijing, Shanghai, Hong Kong, Mumbai, and Jakarta.

Acting Westpac Institutional Bank (WIB) Chief Executive, Curt Zuber, said: “Westpac’s priority is to focus on its core Australian and New Zealand customers and to support them in areas where we have scale and capability.

“To support this, WIB will be focusing our international footprint in three critical locations and streamlining the product set and customers we support outside Australia and New Zealand.

“For WIB, the change will enable us to deliver products and services to customers more efficiently. Our ambition is to be the leading Australian and New Zealand-focused institutional bank for customers while delivering sustainable returns.

“We are fully committed to supporting our employees, customers and partners through these changes,” Mr Zuber said.

The changes are not expected to have significant impact on cash earnings and, over time, are planned to improve the Group’s capital efficiency, including by reducing risk-weighted assets by over $5 billion.

For further information:

This document has been authorised for release by Tim Hartin, General Manager & Company Secretary.