![]() ![]() major items1 1 Analysis and comments 2H18 on 1H19 excludes impact of major items. Non-interest income down 30%, down 12% excl. Westpac Group 2019 Interim Results Presentation & Investor Discussion Pack Hastings P&L ($m) 1H182H181H19 Revenue3 23180 Expenses(37)(121) Core earnings(14)59 Cash earnings(2)19 Infrequent/volatile items ($m after tax) 1H182H181H19 Asset sales(7)≤1 Fund manager revaluations(13) Group CVA2 (1)13(11) Total cash earnings impact(8)≣0 Major/infrequent/volatile items 17 Major items1 by area ($m after tax) 1H18 2H18 1H19 Wealth remediation (141) (484) Banking remediation (140) (133) Wealth reset (136) Total (281) (753) Major items1 by line item ($m) 1H18 2H18 1H19 Revenue (268) (812) Expenses (112) (274) Core earnings (380) (1,086) Cash earnings (281) (753) 1 Major remediation and restructuring items (major items) include provisions for estimated customer refunds, payments and associated costs, along with restructuring costs associated with resetting the Groups wealth strategy. ![]() Westpac Group 2019 Interim Results Presentation & Investor Discussion Pack Cost to serve Customer retention Business Ban Emp sent loyee Improved complaints handling times, down 22% Proactive fraud detection prevented $5m in customer loss Stability of infrastructure improved no severity 1 incidents since April 2018 Property - 2 corporate sites exited - 40 branches closed Digitally active customers up to 4.9m Branch transactions down 8% 52% of accounts now on eStatements New customers Depth of relationship Increased new Australian banking customers 36,000 General insurance gross written premiums u Panorama 29% rise in advisers using platform by over Servi Net Pro Custome consum r Service Hub live, rollout underway, new Further roll out of life events campaign to support customers in times of need New banker desktop in Business Bank 2 Metrics are 1H19 compared to 2H18 unless otherwise stated. Westpac Group 2019 Interim Results Presentation & Investor Discussion Pack Cash earnings excluding major remediation and restructuring items5īuilding momentum in customer franchise1,2 10 er dashboard now in place p 3% ce quality moter Score Consumer Bank #2 k #1 73% iment - 346 ATMs consolidated 1 See page 160 for definitions. 5 Major remediation and restructuring items (major items) include provisions for estimated customer refunds, payments and associated costs, along with restructuring costs associated with resetting the Groups wealth strategy. 3 Return on equity is cash earnings divided by average ordinary equity. 2 Cash EPS is cash earnings divided by the weighted average ordinary shares. Treasury 2.09% 1bp (7bps) Expense to income ratio4,5 43.7% (6bps) 193bps 1 Prior year cash earnings comparatives have been restated for the impacts of AASB 9 & AASB 15.
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