Westpac Banking (WEBNF) 6-K 9 May 23 2023 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Mar. 31, 2023
Document and Entity Information
Entity Registrant Name	WESTPAC BANKING CORP
Document Type	6-K
Document Period End Date	Mar. 31, 2023
Entity Central Index Key	0000719245
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated income statement

Consolidated income statement - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Interest income:
Calculated using the effective interest method	$ 19,279	$ 12,872	$ 10,109
Calculated using the effective interest rate method, percentage movement from prior period	50%
Total interest income calculated using the effective interest rate method, percentage movement from same period in prior year	91%
Other	$ 560	174	96
Total interest income	$ 19,839	13,046	10,205
Total interest income, percentage movement from prior period	52%
Total interest income, percentage movement from same period in prior year	94%
Interest expense	$ (10,726)	(4,173)	(1,917)
Interest expense, percentage movement from prior period	157%
Net interest income	$ 9,113	8,873	8,288
Net interest income, percentage movement from prior period	3%
Net interest income, percentage movement from same period of prior year	10%
Non-interest income
Net fees	$ 827	826	845
Net fees, percentage movement from same period of prior year	(2.00%)
Net wealth management and insurance	$ 347	407	401
Net wealth management and insurance, percentage movement from prior period	(15.00%)
Net wealth management and insurance, percentage movement from same period of prior year	(13.00%)
Trading	$ 387	321	343
Trading, percentage movement from prior period	21%
Trading, percentage movement from same period in prior year	13%
Other	$ 329	(1,051)	353
Other, percentage movement from same period of prior year	(7.00%)
Total non-interest income	$ 1,890	503	1,942
Total non-interest income, percentage movement from same period of prior year	(3.00%)
Net operating income	$ 11,003	9,376	10,230
Net operating income, percentage movement from prior period	17%
Net operating income, percentage movement from same period of prior year	8%
Operating expenses	$ (4,988)	(5,429)	(5,373)
Operating expenses, percentage movement from prior period	(8.00%)
Operating expenses, percentage movement from same period of prior year	(7.00%)
Impairment (charges)/benefits	$ (390)	(196)	(139)
Impairment (charges)/benefits, percentage movement from prior period	99%
Impairment (charges)/benefits, percentage movement from same period of prior year	181%
Profit before income tax expense	$ 5,625	3,751	4,718
Profit before income tax expense, percentage movement from prior period	50%
Profit before income tax expense, percentage movement from same period of prior year	19%
Income tax expense	$ (1,620)	(1,336)	(1,434)
Income tax expense, percentage movement from prior period	21%
Income tax expense, percentage movement from same period of prior year	13%
Profit after income tax expense	$ 4,005	2,415	3,284
Profit after income tax expense, percentage movement from prior period	66%
Profit after income tax expense, percentage movement from same period of prior year	22%
Net profit attributable to non-controlling interests (NCI)	$ (4)	(1)	(4)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	$ 4,001	$ 2,414	$ 3,280
Net profit attributable to owners of Westpac Banking Corporation (WBC), percentage movement from prior period	66%
Net profit attributable to owners of Westpac Banking Corporation (WBC), percentage movement from same period of prior year	22%
Earnings per share (cents)
Basic	$ 1.142	$ 0.690	$ 0.905
Basic, percentage movement from prior period	66%
Basic, percentage movement from same period of prior year	26%
Diluted	$ 1.077	$ 0.660	$ 0.857
Diluted, percentage movement from prior period	63%
Diluted, percentage movement from same period of prior year	26%

Consolidated statement of compr

Consolidated statement of comprehensive income - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Consolidated statement of comprehensive income
Profit after income tax expense	$ 4,005	$ 2,415	$ 3,284
Profit after income tax expense, percentage movement from prior period	66%
Profit after income tax expense, percentage movement from same period of prior year	22%
Gains/(losses) recognised in equity on:
Debt securities measured at fair value through other comprehensive income (FVOCI)	$ (2)	(178)	(140)
Debt securities measured at fair value through other comprehensive income (FVOCI), percentage movement from prior period	(99.00%)
Debt securities measured at fair value through other comprehensive income (FVOCI), percentage movement from same period of prior year	(99.00%)
Cash flow hedging instruments	$ 522	82	1,222
Cash flow hedging instruments, percentage movement from same period of prior year	(57.00%)
Transferred to income statements:
Debt securities measured at FVOCI	$ (65)	(49)	(205)
Debt securities measured at FVOCI, percentage movement from prior period	33%
Debt securities measured at FVOCI, percentage movement from same period of prior year	(68.00%)
Cash flow hedging instruments	$ (418)	(424)	(10)
Cash flow hedging instruments, percentage movement from prior period	(1.00%)
Loss allowance on debt securities measured at FVOCI	$ 1		(2)
Exchange differences on translation of foreign operations (net of associated hedges)	378	(98)	(166)
Income tax on items taken to or transferred from equity:
Debt securities measured at FVOCI	$ 21	66	100
Debt securities measured at FVOCI, percentage movement from prior period	(68.00%)
Debt securities measured at FVOCI, percentage movement from same period of prior year	(79.00%)
Cash flow hedging instruments	$ (32)	106	(359)
Cash flow hedging instruments, percentage movement from same period of prior year	(91.00%)
Items that will not be reclassified subsequently to profit or loss
Gains/(losses) on equity securities measured at FVOCI (net of tax)	$ (25)	(54)	146
Gains/(losses) on equity securities measured at FVOCI (net of tax), percentage movement from prior period	(54.00%)
Own credit adjustment on financial liabilities designated at fair value (net of tax)	$ 43	35	45
Own credit adjustment on financial liabilities designated at fair value (net of tax), percentage movement from prior period	23%
Own credit adjustment on financial liabilities designated at fair value (net of tax), percentage movement from same period of prior year	(4.00%)
Remeasurement of defined benefit obligation recognised in equity (net of tax)	$ (181)	388	58
Net other comprehensive income/(expense) (net of tax)	$ 242	(126)	689
Net other comprehensive income/(expense) (net of tax), percentage movement from same period of prior year	(65.00%)
Total comprehensive income/(expense)	$ 4,247	2,289	3,973
Attributable to:
Owners of WBC	$ 4,243	2,287	3,970
Owners of WBC, percentage movement from prior period	86%
Owners of WBC, percentage movement from same period of prior year	7%
NCI	$ 4	2	3
NCI, percentage movement from prior period	100%
NCI, percentage movement from same period of prior year	33%
Total comprehensive income/(expense)	$ 4,247	$ 2,289	$ 3,973
Total comprehensive income/(expense), percentage movement from prior period	86%
Total comprehensive income/(expense), percentage movement from same period of prior year	7%

Consolidated balance sheet

Consolidated balance sheet - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Assets
Cash and balances with central banks	$ 117,886	$ 105,257	$ 102,410
Cash and balances with central banks, percentage movement from prior period	12%	3%
Cash and balances with central banks, percentage movement from same period of prior year	15%	48%
Collateral paid	$ 4,093	$ 6,216	7,374
Collateral paid, percentage movement from prior period	(34.00%)
Collateral paid, percentage movement from same period of prior year	(44.00%)
Trading securities and financial assets measured at fair value through income statement (FVIS)	$ 30,474	24,332	23,738
Trading securities and financial assets measured at fair value through income statement (FVIS), percentage movement from prior period	25%
Trading securities and financial assets measured at fair value through income statement (FVIS), percentage movement from same period of prior year	28%
Derivative financial instruments	$ 20,346	41,283	18,269
Derivative financial instruments, percentage movement from prior period	(51.00%)
Derivative financial instruments, percentage movement from same period of prior year	11%
Investment securities	$ 73,552	76,465	70,442
Investment securities, percentage movement from prior period	(4.00%)
Investment securities, percentage movement from same period of prior year	4%
Loans	$ 749,931	739,647	719,556
Loans, percentage movement from prior period	1%
Loans, percentage movement from same period of prior year	4%
Other financial assets	$ 7,343	5,626	4,896
Other financial assets, percentage movement from prior period	31%
Other financial assets, percentage movement from same period of prior year	50%
Current tax assets	$ 25	16	214
Current tax assets, percentage movement from prior period	56%
Current tax assets, percentage movement from same period of prior year	(88.00%)
Investment in associates	$ 34	37	41
Investments in associates, percentage change from prior period	(8.00%)
Investments in associates, percentage change from same period of prior year	(17.00%)
Property and equipment	$ 2,415	2,429	2,614
Property and equipment, percentage movement from prior period	(1.00%)
Property and equipment, percentage movement from same period of prior year	(8.00%)
Deferred tax assets	$ 1,703	1,754	1,831
Deferred tax assets, percentage movement from prior period	(3.00%)
Deferred tax assets, percentage movement from same period of prior year	(7.00%)
Intangible assets	$ 10,724	10,327	10,064
Intangible assets, percentage movement from prior period	4%
Intangible assets, percentage movement from same period of prior year	7%
Other assets	$ 582	734	600
Other assets, percentage movement from prior period	(21.00%)
Other assets, percentage movement from same period of prior year	(3.00%)
Assets held for sale		75	2,700
Assets held for sale, percentage movement from prior period	(100.00%)
Assets held for sale, percentage movement from same period of prior year	(100.00%)
Total assets	$ 1,019,108	1,014,198	964,749
Total assets, percentage movement from same period of prior year	6%
Liabilities
Collateral received	$ 3,577	6,371	2,170
Collateral received, percentage movement from prior period	(44.00%)
Collateral received, percentage movement from same period of prior year	65%
Deposits and other borrowings	$ 676,352	659,129	645,606
Deposits and other borrowings, percentage movement from prior period	3%
Deposits and other borrowings, percentage movement from same period of prior year	5%
Other financial liabilities	$ 60,102	56,360	51,345
Other financial liabilities, percentage movement from prior period	7%
Other financial liabilities, percentage movement from same period of prior year	17%
Derivative financial instruments	$ 20,791	39,568	25,347
Derivative financial instruments, percentage movement from prior period	(47.00%)
Derivative financial instruments, percentage movement from same period of prior year	(18.00%)
Debt issues	$ 148,952	144,868	133,629
Debt issues, percentage movement from prior period	3%
Debt issues, percentage movement from same period of prior year	11%
Current tax liabilities	$ 363	219	21
Current tax liabilities, percentage movement from prior period	66%
Provisions	$ 2,424	2,950	3,035
Provisions, percentage movement from prior period	(18.00%)
Provisions, percentage movement from same period of prior year	(20.00%)
Deferred tax liabilities			164
Deferred tax liabilities, percentage movement from same period of prior year	(100.00%)
Other liabilities	$ 2,854	2,938	3,379
Other liabilities, percentage movement from prior period	(3.00%)
Other liabilities, percentage movement from same period of prior year	(16.00%)
Liabilities held for sale		32	684
Liabilities held for sale, percentage movement from prior period	(100.00%)
Liabilities held for sale, percentage movement from same period of prior year	(100.00%)
Total liabilities excluding loan capital	$ 915,415	912,435	865,380
Total liabilities excluding loan capital, percentage movement from same period of prior year	6%
Loan capital	$ 31,025	31,254	29,036
Loan capital, percentage movement from prior period	(1.00%)
Loan capital, percentage movement from same period of prior year	7%
Total liabilities	$ 946,440	943,689	894,416
Total liabilities, percentage movement from same period of prior year	6%
Net assets	$ 72,668	70,509	70,333
Net assets, percentage movement from prior period	3%
Net assets, percentage movement from same period of prior year	3%
Share capital:
Ordinary share capital	$ 39,824	39,666	39,667
Treasury shares	$ (702)	(655)	(651)
Treasury shares, percentage movement from prior period	7%
Treasury shares, percentage movement from same period of prior year	8%
Reserves	$ 2,816	2,378	2,901
Reserves, percentage movement from prior period	18%
Reserves, percentage movement from same period of prior year	(3.00%)
Retained profits	$ 30,686	29,063	28,362
Retained profits, percentage movement from prior period	6%
Retained profits, percentage movement from same period of prior year	8%
Total equity attributable to owners of WBC	$ 72,624	70,452	70,279
Total equity attributable to owners of WBC, percentage movement from prior period	3%
Total equity attributable to owners of WBC, percentage movement from same period of prior year	3%
NCI	$ 44	57	54
NCI, percentage movement from prior period	(23.00%)
NCI, percentage movement from same period of prior year	(19.00%)
Total shareholders' equity and NCI	$ 72,668	$ 70,509	$ 70,333
Total shareholders' equity and NCI, percentage movement from prior period	3%
Total shareholders' equity and NCI, percentage movement from same period of prior year	3%

Consolidated statement of chang

Consolidated statement of changes in equity - AUD ($) $ in Millions	Total equity attributable to owners of WBC	Share capital	Reserves	Retained profits	NCI	Total
Balance at Sep. 30, 2021	$ 72,035	$ 40,995	$ 2,227	$ 28,813	$ 57	$ 72,092
Profit after income tax expense	3,280			3,280	4	3,284
Net other comprehensive income/(expense)	690		587	103	(1)	689
Total comprehensive income/(expense)	3,970		587	3,383	3	3,973
Transactions in capacity as equity holders
Dividends on ordinary shares	(2,201)			(2,201)		(2,201)
Other equity movements
Off-market share buy-back (net of transaction costs)	(3,502)	(1,901)		(1,601)		(3,502)
Share-based payment arrangements	60		60			60
Purchase of shares	(33)	(33)				(33)
Net acquisition of treasury shares	(45)	(45)				(45)
Other	(5)		27	(32)	(6)	(11)
Total contributions and distributions	(5,726)	(1,979)	87	(3,834)	(6)	(5,732)
Balance at Mar. 31, 2022	70,279	39,016	2,901	28,362	54	70,333
Profit after income tax expense	2,414			2,414	1	2,415
Net other comprehensive income/(expense)	(127)		(550)	423	1	(126)
Total comprehensive income/(expense)	2,287		(550)	2,837	2	2,289
Transactions in capacity as equity holders
Dividends on ordinary shares	(2,136)			(2,136)		(2,136)
Other equity movements
Off-market share buy-back (net of transaction costs)	(1)	(1)				(1)
Share-based payment arrangements	27		27			27
Net acquisition of treasury shares	(4)	(4)				(4)
Other					1	1
Total contributions and distributions	(2,114)	(5)	27	(2,136)	1	(2,113)
Balance at Sep. 30, 2022	70,452	39,011	2,378	29,063	57	70,509
Profit after income tax expense	4,001			4,001	4	4,005
Net other comprehensive income/(expense)	242		380	(138)		242
Total comprehensive income/(expense)	4,243		380	3,863	4	4,247
Transactions in capacity as equity holders
Dividends on ordinary shares	(2,240)			(2,240)		(2,240)
Dividend reinvestment plan	190	190				190
Other equity movements
Share-based payment arrangements	58		58			58
Purchase of shares	(32)	(32)				(32)
Net acquisition of treasury shares	(47)	(47)				(47)
Other					(17)	(17)
Total contributions and distributions	(2,071)	111	58	(2,240)	(17)	(2,088)
Balance at Mar. 31, 2023	$ 72,624	$ 39,122	$ 2,816	$ 30,686	$ 44	$ 72,668

Consolidated statement of cha_2

Consolidated statement of changes in equity (Parenthetical) - AUD ($) $ in Millions		6 Months Ended
	Feb. 14, 2022	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Final dividend (in dollars per share)		$ 0.64		$ 0.60
Final dividend		$ 2,240		$ 2,201
Interim dividend (in dollars per share)			$ 0.61
Interim dividend			$ 2,136
Dividend tax rate (as a percent)		30%	30%	30%
Ordinary shares
Value of shares acquired in off-market buy back	$ 3,500

Consolidated cash flow statemen

Consolidated cash flow statement - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Cash flows from operating activities
Interest received	$ 18,818	$ 12,332	$ 10,091
Interest received, percentage movement from prior period	53%
Interest received, percentage movement from same period in prior year	86%
Interest paid	$ (9,091)	(3,312)	(1,779)
Interest paid, percentage movement from prior period	174%
Dividends received excluding life business		1	3
Dividends received excluding life business, percentage movement from prior period	(100.00%)
Dividends received excluding life business, percentage movement from same period in prior year	(100.00%)
Other non-interest income received	$ 2,067	2,522	1,686
Other non-interest income received, percentage movement from prior period	(18.00%)
Other non-interest income received, percentage movement from same period in prior year	23%
Operating expenses paid	$ (4,436)	(4,585)	(5,139)
Operating expenses paid, percentage movement from prior period	(3.00%)
Operating expenses paid, percentage movement from same period in prior year	(14.00%)
Income tax paid excluding life business	$ (1,364)	(996)	(1,282)
Income tax paid excluding life business, percentage movement from prior period	37%
Income tax paid excluding life business, percentage movement from same period in prior year	6%
Life business:
Receipts from policyholders and customers		379	466
Receipts from policyholders and customers, percentage movement from prior period	(100.00%)
Receipts from policyholders and customers, percentage movement from same period in prior year	(100.00%)
Interest and other items of similar nature			1
Interest and other items of similar nature, percentage movement from same period in prior year	(100.00%)
Dividends received		17	8
Dividends received, percentage movement from prior period	(100.00%)
Dividends received, percentage movement from same period in prior year	(100.00%)
Payments to policyholders and suppliers		(307)	(312)
Payments to policyholders and suppliers, percentage movement from prior period	(100.00%)
Payments to policyholders and suppliers, percentage movement from same period in prior year	(100.00%)
Income tax paid		(14)	(51)
Income tax paid, percentage movement from prior period	(100.00%)
Income tax paid, percentage movement from same period in prior year	(100.00%)
Cash flows from operating activities before changes in operating assets and liabilities	$ 5,994	6,037	3,692
Cash flows from operating activities before changes in operating assets and liabilities, percentage movement from prior period	(1.00%)
Cash flows from operating activities before changes in operating assets and liabilities, percentage movement from same period in prior year	62%
Net (increase)/decrease in:
Collateral paid	$ 1,898	1,769	(3,293)
Collateral paid, percentage movement from prior period	7%
Trading securities and financial assets measured at FVIS	$ (4,967)	(1,644)	(2,106)
Trading securities and financial assets measured at FVIS, percentage movement from same period in prior year	136%
Derivative financial instruments	$ (165)	(553)	3,004
Derivative financial instruments, percentage movement from prior period	(70.00%)
Loans	$ (5,074)	(23,709)	(12,636)
Loans, percentage movement from prior period	(79.00%)
Loans, percentage movement from same period in prior year	(60.00%)
Other financial assets	$ (148)	(447)	726
Other financial assets, percentage movement from prior period	(67.00%)
Life insurance assets and liabilities		133	133
Life insurance assets and liabilities, percentage movement from prior period	(100.00%)
Life insurance assets and liabilities, percentage movement from same period in prior year	(100.00%)
Other assets	$ 26	37	(17)
Other assets, percentage movement from prior period	(30.00%)
Net increase/(decrease) in:
Collateral received	$ (2,781)	3,827	(184)
Deposits and other borrowings	$ 13,464	13,296	21,758
Deposits and other borrowings, percentage movement from prior period	1%
Deposits and other borrowings, percentage movement from same period in prior year	(38.00%)
Other financial liabilities	$ (328)	5,738	1,382
Other liabilities	(4)	8	3
Net cash provided by/(used in) operating activities	$ 7,915	4,492	12,462
Net cash provided by/(used in) operating activities, percentage movement from prior period	76%
Net cash provided by/(used in) operating activities, percentage movement from same period in prior year	(36.00%)
Cash flows from investing activities
Proceeds from investment securities	$ 20,299	16,877	19,145
Proceeds from investment securities, percentage movement from prior period	20%
Proceeds from investment securities, percentage movement from same period in prior year	6%
Purchase of investment securities	$ (15,619)	(24,239)	(9,837)
Purchase of investment securities, percentage movement from prior period	(36.00%)
Purchase of investment securities, percentage movement from same period in prior year	59%
Proceeds from disposal of controlled entities and other businesses, net of cash disposed	$ 293	727	1,388
Proceeds from disposal of controlled entities and other businesses, net of cash disposed, percentage movement from prior period	(60.00%)
Proceeds from disposal of controlled entities and other businesses, net of cash disposed, percentage movement from same period in prior year	(79.00%)
Purchase of controlled entities			(14)
Purchase of controlled entities, percentage movement from same period in prior year	(100.00%)
Proceeds from disposal of property and equipment	$ 7	1	24
Proceeds from disposal of property and equipment, percentage movement from same period in prior year	(71.00%)
Purchase of property and equipment	$ (103)	(97)	(69)
Purchase of property and equipment, percentage movement from prior period	6%
Purchase of property and equipment, percentage movement from same period in prior year	49%
Purchase of intangible assets	$ (595)	(677)	(422)
Purchase of intangible assets, percentage movement from prior period	(12.00%)
Purchase of intangible assets, percentage movement from same period in prior year	41%
Net cash provided by/(used in) investing activities	$ 4,282	(7,408)	10,215
Net cash provided by/(used in) investing activities, percentage movement from same period in prior year	(58.00%)
Cash flows from financing activities
Proceeds from debt issues (net of issue costs)	$ 41,825	33,397	39,912
Proceeds from debt issues (net of issue costs), percentage movement from prior period	25%
Proceeds from debt issues (net of issue costs), percentage movement from same period in prior year	5%
Redemption of debt issues	$ (38,989)	(29,114)	(26,785)
Redemption of debt issues, percentage movement from prior period	34%
Redemption of debt issues, percentage movement from same period in prior year	46%
Payments for the principal portion of lease liabilities	$ (205)	(191)	(236)
Payments for the principal portion of lease liabilities, percentage movement from prior period	7%
Payments for the principal portion of lease liabilities, percentage movement from same period in prior year	(13.00%)
Issue of loan capital (net of issue costs)		3,511	3,016
Issue of loan capital (net of issue costs), percentage movement from prior period	(100.00%)
Issue of loan capital (net of issue costs), percentage movement from same period in prior year	(100.00%)
Redemption of loan capital	$ (285)	(1,305)	(1,039)
Redemption of loan capital, percentage movement from prior period	(78.00%)
Redemption of loan capital, percentage movement from same period in prior year	(73.00%)
Payment for off-market share buy-back		(1)	(3,502)
Payment for off-market share buy-back, percentage movement from prior period	(100.00%)
Payment for off-market share buy-back, percentage movement from same period in prior year	(100.00%)
Purchase of shares relating to share-based payment arrangements	$ (32)		(33)
Purchase of shares relating to share-based payment arrangements, percentage movement from same period in prior year	(3.00%)
Purchase of Restricted Share Plan (RSP) treasury shares	$ (47)	(4)	(45)
Purchase of Restricted Share Plan (RSP) treasury shares, percentage movement from same period in prior year	4%
Payment of dividends	$ (2,050)	(2,136)	(2,201)
Payment of dividends, percentage movement from prior period	(4.00%)
Payment of dividends, percentage movement from same period in prior year	(7.00%)
Dividends paid to NCI	$ (17)		(5)
Net cash provided by/(used in) financing activities	$ 200	4,157	9,082
Net cash provided by/(used in) financing activities, percentage movement from prior period	(95.00%)
Net cash provided by/(used in) financing activities, percentage movement from same period in prior year	(98.00%)
Net increase/(decrease) in cash and balances with central banks	$ 12,397	1,241	31,759
Net increase/(decrease) in cash and balances with central banks, percentage movement from same period in prior year	(61.00%)
Effect of exchange rate changes on cash and balances with central banks	$ 232	1,598	(701)
Effect of exchange rate changes on cash and balances with central banks, percentage movement from prior period	(85.00%)
Net (increase)/decrease in cash and balances with central banks included in assets held for sale		8	(1)
Net (increase)/decrease in cash and balances with central banks included in assets held for sale, percentage change from prior period	(100.00%)
Net (increase)/decrease in cash and balances with central banks included in assets held for sale, percentage change from same period of prior year	(100.00%)
Cash and balances with central banks as at beginning of year	$ 105,257	102,410	71,353
Cash and balances with central banks as at end of year	$ 117,886	$ 105,257	$ 102,410
Cash and balances with central banks, percentage movement from prior period	12%	3%
Cash and balances with central banks, percentage movement from same period of prior year	15%	48%

Financial statements preparatio

Financial statements preparation	6 Months Ended
	Mar. 31, 2023
Financial statements preparation
Financial statements preparation	3.7 Notes to the consolidated financial statements Note 1. Financial statements preparation This general purpose Interim Financial Report for the half year ended 31 March 2023 has been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting Corporations Act 2001 (Cth) The Interim Financial Report does not include all the notes of the type normally included in an Annual Financial Report. Accordingly, this Interim Financial Report is to be read in conjunction with the Annual Financial Report for the year ended 30 September 2022 and any relevant public announcements made by Westpac during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001 (Cth) The Interim Financial Report complies with current Australian Accounting Standards (AAS) as they relate to interim financial reports. The Interim Financial Report was authorised for issue by the Board of Directors on 7 May 2023. All amounts have been rounded in accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, to the nearest million dollars, unless otherwise stated. Accounting policies The accounting policies adopted in the preparation of this Interim Financial Report are consistent with those in the Annual Financial Report for the year ended 30 September 2022. Critical accounting assumptions and estimates In preparing the Interim Financial Report, the application of the Group’s accounting policies requires the use of judgement, assumptions and estimates. The areas of judgement, assumptions and estimates in the Interim Financial Report, including the key sources of estimation uncertainty, are consistent with those in the Annual Financial Report for the year ended 30 September 2022. Details on specific judgements in relation to the calculation of provision for ECL including overlays are included in Note 9. Amendments to Accounting Standards effective this period No new accounting standards have been adopted by the Group for the half year ended 31 March 2023. There have been no amendments to existing accounting standards that have had a material impact to the Group. Future developments in accounting standards There are no new standards or amendments to existing standards that are not yet effective that are expected to have a material impact on the Group. Interest rate benchmark reform The IBOR reform and the enterprise-wide IBORs Transition Programme the Group has established to manage the impacts of this reform are detailed in Note 22.4 of the Group’s 2022 Annual Report. A number of IBORs had a 31 December 2021 cessation date. The Group ceased to enter into new contracts referencing these rates and the Group’s exposures to contracts which reference these rates have either matured or transitioned to an alternative reference rate (ARR) with the exception of a small number of trades with immaterial balances. Certain US LIBOR tenors have not yet transitioned to an ARR as they have a cessation date of 30 June 2023. The Group has monitoring controls in place to assess US LIBOR exposures on a regular basis and an overall Programme objective to transition away from USD LIBOR transactions. For the Group’s derivative exposures, almost all have bilateral adherence from our counterparties to the fallback clauses issued by the International Swaps and Derivatives Association (ISDA) in the ISDA 2020 IBOR Fallbacks Protocol which provides a standardised process to identify the appropriate ARR at the relevant benchmark transition date. For the Group’s non-derivative exposures, the Group is engaging with its customers and counterparties to transition or include appropriate fallback provisions. Due to the nature of these contracts, these fallback provisions will be determined bilaterally with the customer or counterparty rather than the standardised basis provided by the ISDA protocols applicable to our derivative contracts. In addition, the Group’s exposure to new contracts referencing these rates is limited by regulatory guidelines whereby transactions from 31 December 2021 can only be entered into for risk management purposes.

Segment reporting

Segment reporting	6 Months Ended
	Mar. 31, 2023
Segment reporting
Segment reporting	Note 2. Segment reporting Operating segments are presented on a basis consistent with information provided internally to Westpac’s key decision makers and reflect the management of the business, rather than the legal structure of the Group. In prior periods the information provided internally to Westpac’s key decision makers presented an adjusted measure of profit that was referred to as “cash earnings” in assessing the financial performance of the Group. Cash earnings adjustments to statutory profit after tax in prior periods included: ● Fair value (gain)/loss on economic hedges (which do not qualify for hedge accounting under AAS) which may create a material timing difference on reported results but do not affect the Group’s earnings over the life of the hedge. ● The net ineffectiveness on qualifying hedges arises from the fair value movement in these hedges which reverses over time and therefore does not affect the Group’s profits over time. The Group ceased reporting this adjusted measure of profit in the current period and instead reports the Group and segments statutory profit after tax internally to Westpac’s key decision makers. The statutory amount of the net operating income and operating expenses segment line items are separated to show the balances excluding Notable Items and the total Notable Items for each of these categories. This is consistent with the information provided internally to Westpac’s key decision makers. Notable Items are items that management believes are not reflective of the Group’s ongoing business performance and are grouped into the following broad categories: ● Unrealised fair value gains and losses on economic hedges that do not qualify for hedge accounting ● Net ineffectiveness on qualifying hedges ● Large items that are not reflective of the Group’s ordinary operations. In individual reporting periods large items may include - Provisions for remediation, litigation, fines and penalties - The impact of asset sales and revaluations - The write-down of assets (including goodwill and capitalised software) - Restructuring costs Cash earnings adjustments which reclassified amounts between individual line items but did not impact on net cash earnings have also ceased. In prior periods these included: ● Operating leases: Under AAS rental income on operating leases is presented gross of the depreciation of the assets subject to the lease. In prior periods, these amounts were offset in deriving non-interest income and operating expenses on a cash earnings basis; and ● Policyholder tax recoveries: Income and tax amounts that are grossed up to comply with the AAS covering Life Insurance Business (policyholder tax recoveries) were reversed in deriving income and taxation expense on a cash earnings basis. As the sale of the Group’s life insurance business was finalised in Full Year 2022 this adjustment is no longer relevant to the Group. For the 2023 Interim Financial Report we have updated our reporting and restated comparatives for this change. Reportable operating segments We are one of Australia’s leading providers of banking and selected financial services, operating under multiple brands, and predominantly in Australia and New Zealand, with a small presence in Europe, North America and Asia. We operate through a significant online capability supported by an extensive branch and ATM network, call centres and specialist relationship and product managers. Our operations comprise the following key segments: ● Consumer and Business Banking: – Consumer provides banking products and services, including mortgages, credit cards, personal loans, and savings and deposit products to retail customers in Australia. – Business serves the banking needs of Australian small and commercial businesses, generally up to $200 million in exposure. ● Westpac Institutional Bank (WIB) delivers a broad range of financial products and services to corporate, institutional and government customers. ● Westpac New Zealand provides banking, and wealth products and services for consumer, business and institutional customers in New Zealand. ● Specialist Businesses was established in May 2020 by combining the operations that Westpac identified to be exited as part of its simplification agenda. Since its formation, nine business divestments have been completed. The remaining operations include Platforms, Westpac Pacific, margin lending and the retail auto finance business which is in run-off. ● Group Businesses includes support functions such as Treasury, Customer Services and Technology, Corporate Services and Enterprise Services. It also includes Group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. ​ Note 2. Segment reporting (continued) The tables present the segment results for the Group: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ Westpac ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Westpac ​ New ​ ​ ​ ​ ​ ​ ​ Notable ​ ​ ​ ​ ​ ​ ​ Business ​ Institutional ​ Zealand ​ Specialist ​ Group ​ ​ ​ Items ​ Income $m Consumer Business Banking Bank (A$) Businesses Businesses Total (pre-tax) statement Half Year March 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income 4,693 2,043 6,736 ​ 712 1,145 ​ 216 393 ​ 9,202 ​ (89) 9,113 Net fee income 266 163 429 ​ 296 82 ​ 22 (2) ​ 827 ​ - 827 Net wealth management and insurance income ​ 22 ​ - ​ 22 ​ - ​ 17 ​ 308 ​ - ​ 347 ​ - ​ 347 Trading income ​ - ​ - ​ - ​ 375 ​ 18 ​ 22 ​ (6) ​ 409 ​ (22) ​ 387 Other income ​ 9 ​ 2 ​ 11 ​ 33 ​ (1) ​ 41 ​ 2 ​ 86 ​ 243 ​ 329 Notable Items ​ - ​ - ​ - ​ - ​ - ​ 243 ​ (111) ​ 132 ​ (132) ​ - Net operating income 4,990 2,208 7,198 ​ 1,416 1,261 ​ 852 276 ​ 11,003 ​ - 11,003 Operating expenses 1 (2,301) ​ (914) ​ (3,215) ​ (617) ​ (574) ​ (280) ​ (302) ​ (4,988) ​ - ​ (4,988) Notable Items ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total operating expenses ​ (2,301) ​ (914) ​ (3,215) ​ (617) ​ (574) ​ (280) ​ (302) ​ (4,988) ​ - ​ (4,988) Pre-provision profit ​ 2,689 ​ 1,294 ​ 3,983 ​ 799 ​ 687 ​ 572 ​ (26) ​ 6,015 ​ - ​ 6,015 Impairment (charges)/benefits (170) ​ (78) ​ (248) ​ 4 ​ (142) ​ (2) ​ (2) ​ (390) ​ - ​ (390) Profit before income tax expense 2,519 1,216 3,735 ​ 803 545 ​ 570 (28) ​ 5,625 ​ - 5,625 Income tax (expense)/benefit 2 (756) ​ (365) ​ (1,121) ​ (229) ​ (154) ​ (73) ​ (43) ​ (1,620) ​ - ​ (1,620) Net profit attributable to NCI - - - ​ - - ​ (4) - ​ (4) ​ - (4) Net profit attributable to owners of WBC 1,763 851 2,614 ​ 574 391 ​ 493 (71) ​ 4,001 ​ - 4,001 Notable Items (post-tax) 2 ​ - ​ - ​ - ​ - ​ - ​ 256 ​ (78) ​ 178 ​ ​ ​ ​ Balance sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ 479,761 ​ 85,568 ​ 565,329 ​ 84,697 ​ 91,943 ​ 8,086 ​ (124) ​ 749,931 ​ ​ ​ ​ Deposits and other borrowings ​ 293,565 ​ 133,442 ​ 427,007 ​ 112,662 ​ 77,321 ​ 10,046 ​ 49,316 ​ 676,352 ​ ​ ​ ​ ​ 1. Impairment of assets (including goodwill and other intangible assets) were insignificant for all segments except for the following: - Specialist Businesses: First Half 2023: nil (Second Half 2022: nil , First Half 2022: $167 million); - Group Businesses: First Half 2023: nil (Second Half 2022: $159 million, First Half 2022: $7 million). 2. The tax impact of Notable Items was a reduction to income tax (expense)/benefit of $46 million in First Half 2023 (Second Half 2022: $135 million reduction, First Half 2022: $89 million addition). ​ ​ Note 2. Segment reporting (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer and ​ Westpac ​ Westpac New ​ ​ ​ ​ ​ ​ ​ Notable ​ ​ ​ ​ ​ ​ ​ Business ​ Institutional ​ Zealand ​ Specialist ​ Group ​ ​ ​ Items ​ Income $m Consumer Business Banking Bank (A$) Businesses Businesses Total (pre-tax) statement Half Year Sept 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income 4,608 1,704 6,312 ​ 629 1,073 ​ 232 339 ​ 8,585 ​ 288 8,873 Net fee income 248 165 413 ​ 303 99 ​ 17 (5) ​ 827 ​ (1) 826 Net wealth management and insurance income ​ 25 ​ - ​ 25 ​ - ​ 15 ​ 375 ​ - ​ 415 ​ (8) ​ 407 Trading income ​ - ​ - ​ - ​ 249 ​ 18 ​ 21 ​ (7) ​ 281 ​ 40 ​ 321 Other income ​ 15 ​ 2 ​ 17 ​ 2 ​ (4) ​ 5 ​ 46 ​ 66 ​ (1,117) ​ (1,051) Notable Items ​ - ​ - ​ - ​ - ​ (12) ​ (1,120) ​ 334 ​ (798) ​ 798 ​ - Net operating income 4,896 1,871 6,767 ​ 1,183 1,189 ​ (470) 707 ​ 9,376 ​ - 9,376 Operating expenses 1 (2,254) (915) (3,169) ​ (607) (538) ​ (313) (412) ​ (5,039) ​ (390) (5,429) Notable Items ​ (66) ​ - ​ (66) ​ - ​ - ​ (150) ​ (174) ​ (390) ​ 390 ​ - Total operating expenses ​ (2,320) ​ (915) ​ (3,235) ​ (607) ​ (538) ​ (463) ​ (586) ​ (5,429) ​ - ​ (5,429) Pre-provision profit ​ 2,576 ​ 956 ​ 3,532 ​ 576 ​ 651 ​ (933) ​ 121 ​ 3,947 ​ - ​ 3,947 Impairment (charges)/benefits (228) ​ 15 ​ (213) ​ (27) ​ 16 ​ 29 ​ (1) ​ (196) ​ - ​ (196) Profit before income tax expense 2,348 971 3,319 ​ 549 667 ​ (904) 120 ​ 3,751 ​ - 3,751 Income tax (expense)/benefit 2 (703) (292) (995) ​ (168) (192) ​ 50 (31) ​ (1,336) ​ - (1,336) Net profit attributable to NCI - ​ - ​ - ​ - ​ - ​ (1) ​ - ​ (1) ​ - ​ (1) Net profit attributable to owners of WBC 1,645 679 2,324 ​ 381 475 ​ (855) 89 ​ 2,414 ​ - 2,414 Notable Items (post-tax) 2 ​ (47) ​ - ​ (47) ​ - ​ (10) ​ (1,112) ​ 116 ​ (1,053) ​ ​ ​ ​ Balance sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ 474,604 ​ 84,897 ​ 559,501 ​ 85,182 ​ 85,285 ​ 9,866 ​ (187) ​ 739,647 ​ ​ ​ ​ Deposits and other borrowings ​ 280,574 ​ 133,335 ​ 413,909 ​ 116,552 ​ 71,202 ​ 9,457 ​ 48,009 ​ 659,129 ​ ​ ​ ​ ​ 1. Impairment of assets (including goodwill and other intangible assets) were insignificant for all segments except for the following: - Specialist Businesses: First Half 2023: nil (Second Half 2022: nil , First Half 2022: $167 million); - Group Businesses: First Half 2023: nil (Second Half 2022: $159 million, First Half 2022: $7 million). 2. The tax impact of Notable Items was a reduction to income tax (expense)/benefit of $46 million in First Half 2023 (Second Half 2022: $135 million reduction, First Half 2022: $89 million addition). ​ Note 2. Segment reporting (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ Westpac ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Westpac ​ New ​ ​ ​ ​ ​ ​ ​ Notable ​ ​ ​ ​ ​ ​ ​ Business ​ Institutional ​ Zealand ​ Specialist ​ Group ​ ​ ​ Items ​ Income $m Consumer Business Banking Bank (A$) Businesses Businesses Total (pre-tax) statement Half Year March 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income 4,377 1,323 5,700 ​ 481 1,034 ​ 242 564 ​ 8,021 ​ 267 8,288 Net fee income 265 162 427 ​ 302 86 ​ 29 1 ​ 845 ​ - 845 Net wealth management and insurance income ​ 26 ​ - ​ 26 ​ - ​ 39 ​ 379 ​ - ​ 444 ​ (43) ​ 401 Trading income ​ - ​ - ​ - ​ 267 ​ 25 ​ 20 ​ 27 ​ 339 ​ 4 ​ 343 Other income ​ 33 ​ 3 ​ 36 ​ 23 ​ 1 ​ 14 ​ 8 ​ 82 ​ 271 ​ 353 Notable Items ​ - ​ - ​ - ​ - ​ 132 ​ 109 ​ 258 ​ 499 ​ (499) ​ - Net operating income 4,701 1,488 6,189 ​ 1,073 1,317 ​ 793 858 ​ 10,230 ​ - 10,230 Operating expenses 1 (2,369) (984) (3,353) ​ (581) (534) ​ (370) (304) ​ (5,142) ​ (231) (5,373) Notable Items ​ - ​ - ​ - ​ - ​ - ​ (215) ​ (16) ​ (231) ​ 231 ​ - Total operating expenses (2,369) (984) (3,353) ​ (581) (534) ​ (585) (320) ​ (5,373) ​ - (5,373) Pre-provision profit ​ 2,332 ​ 504 ​ 2,836 ​ 492 ​ 783 ​ 208 ​ 538 ​ 4,857 ​ - ​ 4,857 Impairment (charges)/benefits 27 (158) (131) ​ (58) 9 ​ 38 3 ​ (139) ​ - ​ (139) Profit before income tax expense 2,359 346 2,705 ​ 434 792 ​ 246 541 ​ 4,718 ​ - ​ 4,718 Income tax (expense)/benefit 2 (713) (107) (820) ​ (128) (190) ​ (111) (185) ​ (1,434) ​ - ​ (1,434) Net profit attributable to NCI - - - ​ - - ​ (3) (1) ​ (4) ​ - ​ (4) Net profit attributable to owners of WBC 1,646 239 1,885 ​ 306 602 ​ 132 355 ​ 3,280 ​ - ​ 3,280 Notable Items (post-tax) 2 ​ - ​ - ​ - ​ - ​ 129 ​ (114) ​ 164 ​ 179 ​ ​ ​ ​ Balance sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ 465,697 ​ 80,949 ​ 546,646 ​ 73,950 ​ 87,361 ​ 11,730 ​ (131) ​ 719,556 ​ ​ ​ ​ Deposits and other borrowings ​ 276,161 ​ 134,716 ​ 410,877 ​ 104,661 ​ 75,622 ​ 8,362 ​ 46,084 ​ 645,606 ​ ​ ​ ​ ​ 1. Impairment of assets (including goodwill and other intangible assets) were insignificant for all segments except for the following: - Specialist Businesses: First Half 2023: nil (Second Half 2022: nil , First Half 2022: $167 million); - Group Businesses: First Half 2023: nil (Second Half 2022: $159 million, First Half 2022: $7 million). 2. The tax impact of Notable Items was a reduction to income tax (expense)/benefit of $46 million in First Half 2023 (Second Half 2022: $135 million reduction, First Half 2022: $89 million addition). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Notable Items after tax ​ ​ ​ ​ ​ ​ ​ ​ ​ Economic hedges (121) ​ 266 ​ 204 ​ large large Hedge ineffectiveness ​ 43 ​ (33) ​ (19) ​ large ​ large Provisions for litigation, fines and penalties 3 - ​ (68) ​ (65) ​ (100) (100) Asset sales and revaluations 256 ​ (1,089) ​ 213 ​ large 20 The write-down of assets - ​ (129) ​ (154) ​ (100) (100) Total Notable Items after tax 178 ​ (1,053) ​ 179 ​ large (1) ​ 3. Second Half 2022 and First Half 2022 also included provisions for estimated customer refunds and payments and associated costs.

Net interest income and average

Net interest income and average balance sheet and interest rates	6 Months Ended
	Mar. 31, 2023
Net interest income and average balance sheet and interest rates
Net interest income and average balance sheet and interest rates	Note 3. Net interest income and average balance sheet and interest rates Net interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Interest income 1 ​ ​ Calculated using the effective interest method ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and balances with central banks 1,806 637 46 184 large Collateral paid 269 64 4 large large Investment securities 918 620 506 48 81 Loans 16,276 11,549 9,547 41 70 Other financial assets 10 2 - large - Assets held for sale ​ - ​ - ​ 6 ​ - ​ (100) Total interest income calculated using the effective interest method ​ 19,279 ​ 12,872 ​ 10,109 ​ 50 ​ 91 Other ​ ​ ​ ​ ​ Net ineffectiveness on qualifying hedges 62 (50) (27) large large Trading securities and financial assets measured at FVIS 498 224 123 122 large Total other 560 174 96 large large Total interest income 19,839 13,046 10,205 52 94 Interest expense ​ ​ ​ ​ ​ Calculated using the effective interest method ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral received (142) (60) (4) 137 large Deposits and other borrowings (6,151) (2,098) (712) 193 large Debt issues (2,268) (1,406) (851) 61 167 Loan capital (620) (586) (440) 6 41 Other financial liabilities (234) (117) (45) 100 large Total interest expense calculated using the effective interest method (9,415) (4,267) (2,052) 121 large Other ​ ​ ​ ​ ​ Deposits and other borrowings (801) (350) (49) 129 large Trading liabilities 2 (188) 717 452 large large Debt issues (116) (62) (31) 87 large Bank levy (164) (163) (177) 1 (7) Other interest expense ​ (42) ​ (48) ​ (60) ​ (13) ​ (30) Total other (1,311) 94 135 large large Total interest expense (10,726) (4,173) (1,917) 157 large Net interest income 9,113 8,873 8,288 3 10 ​ 1. Included items relating to compliance, regulation and remediation costs recognised as a $9 million addition to net interest income (Second Half 2022: $8 million reduction, First Half 2022: $9 million addition). Refer to Note 13 for further details. 2. Includes net impact of Treasury balance sheet management activities. ​ Average balance sheet and interest rates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 ​ Half Year Sept 2022 ​ Half Year March 2022 ​ Average ​ Average Average ​ Average Average ​ Average ​ ​ balance ​ Interest ​ rate ​ balance ​ Interest ​ rate ​ balance ​ Interest ​ rate ​ ​ $m ​ $m ​ % ​ $m ​ $m ​ % ​ $m ​ $m ​ % Assets Interest earning assets Loans 1 699,735 ​ 16,276 ​ 4.7 ​ 683,786 ​ 11,549 ​ 3.4 ​ 669,815 ​ 9,547 ​ 2.9 Housing ​ 481,538 ​ 10,174 ​ 4.2 ​ 472,098 ​ 7,349 ​ 3.1 ​ 468,207 ​ 6,317 ​ 2.7 Personal ​ 13,485 ​ 556 ​ 8.3 ​ 14,471 ​ 582 ​ 8.0 ​ 15,618 ​ 618 ​ 7.9 Business ​ 204,712 ​ 5,546 ​ 5.4 ​ 197,217 ​ 3,618 ​ 3.7 ​ 185,990 ​ 2,612 ​ 2.8 Trading securities and financial assets measured at FVIS 29,044 ​ 498 ​ 3.4 ​ 23,426 ​ 224 ​ 1.9 ​ 22,243 ​ 123 ​ 1.1 Investment securities 76,015 ​ 918 ​ 2.4 ​ 77,783 ​ 620 ​ 1.6 ​ 77,779 ​ 506 ​ 1.3 Other interest earning assets 2 ​ 129,414 ​ 2,147 ​ 3.3 ​ 116,786 ​ 653 ​ 1.1 ​ 101,392 ​ 23 ​ - Assets held for sale ​ - ​ - ​ - ​ 5 ​ - ​ - ​ 846 ​ 6 ​ 1.4 Total interest earning assets and interest income 934,208 ​ 19,839 ​ 4.3 ​ 901,786 ​ 13,046 ​ 2.9 ​ 872,075 ​ 10,205 ​ 2.3 Non-interest earning assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial instruments 25,290 ​ ​ ​ 28,479 ​ ​ ​ 18,283 ​ ​ ​ Assets held for sale ​ 60 ​ ​ ​ ​ 1,843 ​ ​ ​ ​ ​ 3,048 ​ ​ ​ All other assets 3 58,365 ​ ​ ​ 59,492 ​ ​ ​ 64,427 ​ ​ ​ Total non-interest earning assets 83,715 ​ ​ ​ 89,814 ​ ​ ​ 85,758 ​ ​ ​ Total assets 1,017,923 ​ ​ ​ 991,600 ​ ​ ​ 957,833 ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest bearing liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings 599,545 6,952 ​ 2.3 581,038 2,448 0.8 570,842 761 ​ 0.3 Certificates of deposit ​ 45,447 ​ 799 ​ 3.5 ​ 48,068 ​ 347 ​ 1.4 ​ 46,544 ​ 48 ​ 0.2 At call ​ 386,455 ​ 3,520 ​ 1.8 ​ 389,417 ​ 1,158 ​ 0.6 ​ 391,719 ​ 342 ​ 0.2 Term ​ 167,643 ​ 2,633 ​ 3.1 ​ 143,553 ​ 943 ​ 1.3 ​ 132,579 ​ 371 ​ 0.6 Repurchase agreements 41,310 228 ​ 1.1 39,807 112 0.6 35,740 38 ​ 0.2 Loan capital 33,649 620 ​ 3.7 30,910 586 3.8 30,504 440 ​ 2.9 Other interest bearing liabilities 4 174,925 2,926 ​ 3.4 167,147 1,027 1.2 149,307 678 ​ 0.9 Total interest bearing liabilities and interest expense 849,429 10,726 ​ 2.5 818,902 4,173 1.0 786,393 1,917 ​ 0.5 Non-interest bearing liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings 68,678 ​ ​ ​ 69,082 ​ ​ ​ 69,413 ​ ​ ​ Derivative financial instruments 29,765 ​ ​ ​ 30,434 ​ ​ ​ 19,035 ​ ​ ​ Liabilities held for sale ​ 26 ​ ​ ​ ​ 590 ​ ​ ​ ​ ​ 775 ​ ​ ​ All other liabilities 5 (969) ​ ​ ​ 3,072 ​ ​ ​ 11,087 ​ ​ ​ Total non-interest bearing liabilities 97,500 ​ ​ ​ 103,178 ​ ​ ​ 100,310 ​ ​ ​ Total liabilities 946,929 ​ ​ ​ 922,080 ​ ​ ​ 886,703 ​ ​ ​ Shareholders’ equity 70,947 ​ ​ ​ 69,467 ​ ​ ​ 71,073 ​ ​ ​ NCI 47 ​ ​ ​ 53 ​ ​ ​ 57 ​ ​ ​ Total equity 70,994 ​ ​ ​ 69,520 ​ ​ ​ 71,130 ​ ​ ​ Total liabilities and equity ​ 1,017,923 ​ ​ ​ ​ ​ 991,600 ​ ​ ​ ​ ​ 957,833 ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Australia 602,493 13,791 ​ 4.6 590,428 9,679 3.3 574,439 8,015 ​ 2.8 New Zealand 90,605 2,304 ​ 5.1 86,989 1,755 4.0 89,021 1,448 ​ 3.3 Other overseas 6,637 181 ​ 5.5 6,369 115 3.6 6,355 84 ​ 2.7 Deposits and other borrowings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Australia 516,397 5,547 ​ 2.2 498,319 1,760 0.7 489,642 489 ​ 0.2 New Zealand 63,422 1,017 ​ 3.2 60,312 522 1.7 61,263 243 ​ 0.8 Other overseas 19,726 388 ​ 3.9 22,407 166 1.5 19,937 29 ​ 0.3 ​ 1. Loans are net of Stage 3 provision for ECL, where interest income is determined based on their carrying value. Stage 1 and 2 provisions for ECL are not included in the average interest earning assets balance, as interest income is determined based on the gross value of loans and other receivables. 2. Interest income includes net ineffectiveness on qualifying hedges. 3. Includes property and equipment, intangible assets, deferred tax assets, non-interest bearing loans relating to mortgage offset accounts and all other non-interest earning assets. 4. Includes net impact of Treasury balance sheet management activities and the Bank Levy. 5. Includes other financial liabilities, provisions, current and deferred tax liabilities and all other non-interest bearing liabilities. ​

Non-interest income

Non-interest income	6 Months Ended
	Mar. 31, 2023
Non-interest income
Non-interest income	Note 4. Non-interest income 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Net fees ​ ​ Facility fees 338 342 ​ 344 (1) (2) Transaction fees 589 576 ​ 556 2 6 Other non-risk fee income 68 50 ​ 72 36 (6) Fee income 995 968 ​ 972 3 2 Credit card loyalty programs (81) (66) ​ (60) 23 35 Transaction fee related expenses (87) (76) ​ (67) 14 30 Fee expenses (168) (142) ​ (127) 18 32 Net fees 827 826 ​ 845 - (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net wealth management and insurance ​ ​ ​ ​ ​ Net wealth management income 347 365 361 (5) (4) Life insurance premium income - 314 520 (100) (100) Life insurance investment and other income 2 - (12) (129) (100) (100) Total insurance premium, investment and other income - 302 391 (100) ​ (100) Life insurance claims, changes in life insurance liabilities and other expenses - (260) (351) (100) (100) Total insurance claims, changes in insurance liabilities and other expenses - (260) (351) (100) (100) Net wealth management and insurance 347 407 401 (15) (13) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trading 387 321 343 21 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends received from other entities - 1 3 (100) (100) Net gain/(loss) on sale/derecognition of associates 1 12 13 (92) (92) Net gain/(loss) on disposal of assets - (1) (2) (100) (100) Net gain/(loss) on hedging of overseas operations - 1 (1) (100) (100) Net gain/(loss) on derivatives held for risk management purposes 3 - 2 7 (100) (100) Net gain/(loss) on financial instruments measured at fair value 29 (4) 16 large 81 Net gain/(loss) on disposal of controlled entities and other businesses 4 ​ 268 ​ (1,112) ​ 289 ​ large ​ (7) Rental income on operating leases 5 7 9 (29) (44) Share of associates’ net profit/(loss) (3) (4) (3) (25) - Other 29 47 22 (38) 32 Total other 329 (1,051) 353 large (7) Total non-interest income 1,890 503 1,942 large (3) ​ ​ 1. Includes items relating to compliance, regulation and remediation costs recognised as an addition in non-risk fee income, net wealth management income and other income totalled $ 8 million for First Half 2023 (Second Half 2022: $56 million reduction, First Half 2022: $8 million reduction). Refer to Note 13 for further details. 2. Includes policyholder tax recoveries. 3. Income from derivatives held for risk management purposes reflects the impact of economic hedges of earnings. 4. First Half 2023 included a profit on sale of $243 million for AAML, Second Half 2022 included $1,112 million loss on sale of Australian life insurance business, while First Half 2022 included $170 million gain on sale of auto finance and $119 million gain on sale of NZ life insurance.

Operating expenses

Operating expenses	6 Months Ended
	Mar. 31, 2023
Operating expenses
Operating expenses	Note 5. Operating expenses 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Staff ​ ​ ​ Employee remuneration, entitlements and on-costs 2,545 2,527 ​ 2,584 ​ 1 (2) Superannuation 270 255 ​ 278 ​ 6 (3) Share-based payments 44 42 ​ 46 ​ 5 (4) Restructuring costs 33 60 ​ 74 ​ (45) (55) Total staff 2,892 2,884 ​ 2,982 ​ - (3) Occupancy ​ ​ ​ ​ ​ ​ ​ Operating lease rentals 81 91 ​ 79 ​ (11) 3 Depreciation and impairment of property and equipment 2 227 365 ​ 261 ​ (38) (13) Other 64 60 ​ 58 ​ 7 10 Total occupancy 372 516 ​ 398 ​ (28) (7) Technology ​ ​ ​ ​ ​ ​ ​ Amortisation and impairment of software assets 2 250 318 ​ 337 ​ (21) (26) Depreciation and impairment of IT equipment 58 92 ​ 85 ​ (37) (32) Technology services 352 377 ​ 342 ​ (7) 3 Software maintenance and licences 296 258 ​ 248 ​ 15 19 Telecommunications 59 72 ​ 72 ​ (18) (18) Data processing 39 40 ​ 41 ​ (3) (5) Total technology 1,054 1,157 ​ 1,125 ​ (9) (6) Other ​ ​ ​ ​ ​ ​ ​ Professional and processing services 413 554 ​ 460 ​ (25) (10) Amortisation and impairment of other intangible assets and deferred expenditure 2 1 1 ​ 122 ​ - (99) Postage and stationery 67 70 ​ 74 ​ (4) (9) Advertising 79 77 ​ 81 ​ 3 (2) Non-lending losses 1 59 ​ 45 ​ (98) (98) Other expenses 109 111 ​ 86 ​ (2) 27 Total other 670 872 ​ 868 ​ (23) (23) Total operating expenses 4,988 5,429 ​ 5,373 ​ (8) (7) ​ 1. Operating expenses included items relating to compliance, regulation and remediation costs were a reduction of $ 6 million (Second Half 2022: $46 million addition; First Half 2022: $17 million addition). Refer to Note 13 for further details. 2. Nil impairment expenses for the First Half 2023. Significant impairment expenses in comparative periods included: ● Property and equipment (Second Half 2022: $ 116 million, First Half 2022: $1 million); ● Capitalised software assets (Second Half 2022: $56 million, First Half 2022: $54 million); ● Goodwill and other intangible assets (Second Half 2022: nil , First Half 2022: $122 million).

Income tax

Income tax	6 Months Ended
	Mar. 31, 2023
Income tax
Income tax	Note 6. Income tax The following table reconciles income tax expense to the profit before income tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Profit before income tax 5,625 ​ 3,751 ​ 4,718 ​ 50 19 Tax at the Australian company tax rate of 30% 1,688 ​ 1,126 ​ 1,415 ​ 50 19 The effect of amounts which are not deductible/(assessable) in calculating taxable income: ​ ​ ​ ​ ​ ​ ​ Hybrid capital distributions 54 ​ 39 ​ 28 ​ 38 93 Life insurance: ​ ​ ​ ​ ​ ​ Tax adjustment on policyholder earnings - ​ (1) ​ - ​ (100) - Other non-assessable items (1) ​ (63) ​ (34) ​ (98) (97) Other non-deductible items 10 ​ 362 ​ 47 ​ (97) (79) Adjustment for overseas tax rates (16) ​ (16) ​ (15) ​ - 7 Income tax (over)/under provided in prior periods - ​ (84) ​ 7 ​ (100) (100) Other items 1 (115) ​ (27) ​ (14) ​ large large Total income tax expense 2 1,620 ​ 1,336 ​ 1,434 ​ 21 13 Effective income tax rate 28.80% ​ 35.62% ​ 30.39% ​ large ( 159 bps) ​ 1. 2.

Earnings per share

Earnings per share	6 Months Ended
	Mar. 31, 2023
Earnings per share
Earnings per share	Note 7. Earnings per share Basic earnings per share (EPS) is calculated by dividing the net profit attributable to owners of WBC by the weighted average number of ordinary shares on issue during the period, adjusted for treasury shares. Diluted EPS is calculated by adjusting the basic EPS by assuming all dilutive potential ordinary shares are converted. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 Half Year Sept 2022 Half Year March 2022 ​ Basic Diluted Basic Diluted Basic Diluted Net profit attributable to owners of WBC ($m) 4,001 4,001 2,414 2,414 3,280 3,280 Adjustment for RSP dividends 3 (2) - (1) - (2) - Adjustment for potential dilution: ​ ​ ​ ​ ​ ​ Distributions to convertible loan capital holders 4 - 186 - 133 - 100 Adjusted net profit attributable to owners of WBC 3,999 ​ 4,187 ​ 2,413 ​ 2,547 ​ 3,278 ​ 3,380 Weighted average number of ordinary shares (millions) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of ordinary shares on issue 3,506 ​ 3,506 ​ 3,501 ​ 3,501 ​ 3,626 ​ 3,626 Treasury shares (including RSP share rights) 3 (5) ​ (5) ​ (5) ​ (5) ​ (4) ​ (4) Adjustment for potential dilution: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share-based payments - ​ 3 ​ - ​ 4 ​ - ​ 3 Convertible loan capital 4 - ​ 384 ​ - ​ 361 ​ - ​ 321 Adjusted weighted average number of ordinary shares 3,501 ​ 3,888 ​ 3,496 ​ 3,861 ​ 3,622 ​ 3,946 Earnings per ordinary share (cents) 114.2 ​ 107.7 ​ 69.0 ​ 66.0 ​ 90.5 ​ 85.7 ​ 3. Some shares under the RSP have not vested and are not outstanding ordinary shares but do receive dividends. These RSP dividends are deducted to show the profit attributable to ordinary shareholders. 4. The Group has issued convertible loan capital which may convert into ordinary shares in the future. These convertible loan capital instruments are potentially dilutive instruments, and diluted EPS is therefore calculated as if the instruments had been converted at the beginning of the respective period or, if later, the instruments’ issue date.

Loans

Loans	6 Months Ended
	Mar. 31, 2023
Loans
Loans	Note 8. Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Australia ​ ​ ​ Housing 472,570 467,382 ​ 458,278 ​ 1 3 Personal 12,028 12,832 ​ 14,128 ​ (6) (15) Business 169,891 170,636 ​ 156,763 ​ - 8 Total Australia 654,489 650,850 ​ 629,169 ​ 1 4 New Zealand ​ ​ ​ ​ ​ ​ ​ Housing 61,081 56,211 ​ 57,780 ​ 9 6 Personal 1,116 1,058 ​ 1,116 ​ 5 - Business 30,668 28,855 ​ 29,294 ​ 6 5 Total New Zealand 92,865 86,124 ​ 88,190 ​ 8 5 Total other overseas 7,047 6,879 ​ 6,392 ​ 2 10 Gross loans 754,401 743,853 ​ 723,751 ​ 1 4 Provision for ECL on loans (Note 9) ​ (4,470) ​ (4,206) ​ (4,195) ​ 6 ​ 7 Total loans 1,2 749,931 739,647 719,556 1 4 ​ 1. Total loans included securitised loans of $4,019 million as at 31 March 2023 (30 September 2022: $4,747 million, 31 March 2022: $4,808 million). The level of securitised loans excludes loans where Westpac is the holder of related debt securities. 2. Total loans included assets pledged for the covered bond programs of $40,483 million as at 31 March 2023 (30 September 2022: $38,455 million, 31 March 2022: $35,052 million).

Provisions for expected credit

Provisions for expected credit losses	6 Months Ended
	Mar. 31, 2023
Provisions for expected credit losses
Provisions for expected credit losses	Note 9. Provision for expected credit losses Loans and credit commitments The following table shows the provision for ECL on loans and credit commitments by stage: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 Mar 23 $m 2023 2022 2022 - Sept 22 - Mar 22 Performing - Stage 1 891 885 1,078 1 (17) Performing - Stage 2 2,628 2,341 2,107 12 25 Non-performing - Stage 3 1,393 1,399 1,490 - (7) Total provision for ECL on loans and credit commitments 4,912 4,625 4,675 6 5 Presented as: ​ ​ ​ ​ ​ Provision for ECL on loans (Note 8) 4,470 4,206 4,195 6 7 Provision for ECL on credit commitments (Note 13) 442 419 480 5 (8) Total provision for ECL on loans and credit commitments 4,912 4,625 4,675 6 5 Of which: ​ ​ ​ ​ ​ ​ Individually assessed provisions 382 452 501 (15) (24) Collectively assessed provisions 4,530 4,173 4,174 9 9 Total provision for ECL on loans and credit commitments 4,912 4,625 4,675 6 5 Gross loans and credit commitments ​ 962,804 ​ 943,952 ​ 924,937 ​ 2 ​ 4 Coverage ratio on loans (%) ​ 0.59% ​ 0.57% ​ 0.58% ​ 2 bps ​ 1 bps Coverage ratio on loans and credit commitments (%) ​ 0.51% ​ 0.49% ​ 0.51% ​ 2 bps - ​ Note 9. Provision for expected credit losses (continued) Movement in provision for ECL on loans and credit commitments ​ The reconciliation of the provision for ECL tables for loans and credit commitments has been determined by an aggregation of monthly movements over the year. The key line items in the reconciliation represent the following: ● “Transfers between stages” lines represent transfers between Stage 1, Stage 2 and Stage 3 prior to remeasurement of the provision for ECL; ● “Business activity during the period” line represents new accounts originated during the period net of those that were de-recognised due to final repayments during the period; ● “Net remeasurement of provision for ECL” line represents the impact on the provision for ECL due to changes in credit quality during the year (including transfers between stages), changes in portfolio overlays, changes due to forward-looking economic scenarios and partial repayments and additional draw-downs on existing facilities during the period; and ● “Write-offs” represent a reduction in the provision for ECL as a result of de-recognition of exposures where there is no reasonable expectation of full recovery. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ Consolidated ​ Performing ​ performing ​ ​ $m Stage 1 Stage 2 ​ Stage 3 Total Balance as at 30 September 2021 ​ 936 ​ 2,091 ​ 1,972 ​ 4,999 Transfers to Stage 1 ​ 461 ​ (398) ​ (63) ​ - Transfers to Stage 2 ​ (102) ​ 509 ​ (407) ​ - Transfers to Stage 3 ​ (8) ​ (198) ​ 206 ​ - Business activity during the period ​ 255 ​ (149) ​ (200) ​ (94) Net remeasurement of provision for ECL ​ (463) ​ 264 ​ 535 ​ 336 Write-offs ​ - ​ - ​ (566) ​ (566) Exchange rate and other adjustments ​ (1) ​ (12) ​ 13 ​ - Balance as at 31 March 2022 ​ 1,078 ​ 2,107 ​ 1,490 ​ 4,675 Transfers to Stage 1 ​ 451 ​ (394) ​ (57) ​ - Transfers to Stage 2 ​ (133) ​ 493 ​ (360) ​ - Transfers to Stage 3 ​ (6) ​ (185) ​ 191 ​ - Business activity during the period ​ 99 ​ (95) ​ (140) ​ (136) Net remeasurement of provision for ECL ​ (603) ​ 425 ​ 594 ​ 416 Write-offs ​ - ​ - ​ (368) ​ (368) Exchange rate and other adjustments ​ (1) ​ (10) ​ 49 ​ 38 Balance as at 30 September 2022 ​ 885 ​ 2,341 ​ 1,399 ​ 4,625 Transfers to Stage 1 ​ 694 ​ (619) ​ (75) ​ - Transfers to Stage 2 ​ (159) ​ 408 ​ (249) ​ - Transfers to Stage 3 ​ (4) ​ (247) ​ 251 ​ - Business activity during the period ​ 136 ​ 54 ​ (136) ​ 54 Net remeasurement of provision for ECL ​ (670) ​ 677 ​ 456 ​ 463 Write-offs ​ - ​ - ​ (271) ​ (271) Exchange rate and other adjustments ​ 9 ​ 14 ​ 18 ​ 41 Balance as at 31 March 2023 ​ 891 ​ 2,628 ​ 1,393 ​ 4,912 ​ The following table provides further details of the provision for ECL on loans and credit commitments by class and stage: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ Performing ​ performing ​ ​ $m ​ Stage 1 ​ Stage 2 ​ Stage 3 ​ Total Housing 264 680 498 1,442 Personal 124 315 150 589 Business 690 1,112 842 2,644 Balance as at 31 March 2022 1,078 2,107 1,490 4,675 Housing 143 1,095 415 1,653 Personal 99 250 123 472 Business 643 996 861 2,500 Balance as at 30 September 2022 885 2,341 1,399 4,625 Housing 171 ​ 1,123 ​ 454 ​ 1,748 Personal 91 ​ 268 ​ 127 ​ 486 Business 629 ​ 1,237 ​ 812 ​ 2,678 Balance as at 31 March 2023 891 ​ 2,628 ​ 1,393 ​ 4,912 ​ ​ Note 9. Provision for expected credit losses (continued) Impact of overlays on the provision for ECL on loans and credit commitments The following table attributes the provision for ECL on loans and credit commitments between modelled ECL and portfolio overlays. Portfolio overlays are used to capture risk of increased uncertainty relating to forward-looking economic conditions, or areas of potential risk and uncertainty in the portfolio, that are not captured in the underlying modelled ECL. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m 2023 2022 2022 Modelled provision for ECL on loans and credit commitments 4,192 ​ 3,925 ​ 3,539 Overlays 720 ​ 700 ​ 1,136 Total provision for ECL on loans and credit commitments ​ 4,912 ​ 4,625 ​ 4,675 ​ Details of changes related to forward-looking economic inputs and portfolio overlays, based on reasonable and supportable information up to the date of this report, are provided below. Modelled provision for ECL on loans and credit commitments The modelled provision for ECL on loans and credit commitments is a probability weighted estimate based on three scenarios which together represent the Group’s view of the forward-looking distribution of potential loss outcomes. The change in provisions as a result of changes in modelled ECL are reflected through the “net remeasurement of provision for ECL” line item. Portfolio overlays are used to capture potential risk and uncertainty in the portfolio that are not captured in the underlying modelled ECL. The base case scenario uses Westpac Economic forecasts which forecast further interest rate rises and residential/ commercial price reductions due to the current high inflationary environment. Economic forecasts (from Westpac Economics) used for the different reporting periods are as follows: ​ ​ ​ ​ ​ ​ ​ Key economic assumptions for base case scenario 31 March 2023 30 September 2022 31 March 2022 Annual GDP ​ Forecast growth of 1.0% for calendar year 2023 and 1.5% for calendar year 2024 ​ Forecast growth of 3.4% for calendar year 2022 and 1.0% for calendar year 2023 ​ Forecast growth of 5.5% for calendar year 2022 and 2.7% for calendar year 2023 Commercial property index ​ Forecast price contraction of 9.4% for calendar year 2023 and forecast growth of 1.4% for calendar year 2024 ​ Forecast price contraction of 4.7% for calendar year 2022 and 3.0% for calendar year 2023 ​ Forecast price contraction of 3.1% for calendar year 2022 and growth of 2.1% for calendar year 2023 Residential property prices ​ Forecast price contraction of 7.8% for calendar year 2023 and forecast growth of 2.0% for calendar year 2024 ​ Forecast price contraction of 6.5% for calendar year 2022 and 7.8% for calendar year 2023 ​ Forecast price appreciation of 1.6% for calendar year 2022 and contraction of 7.0% for calendar 2023 Cash rate ​ Forecast cash rate of 3.85% at December 2023 and 2.85% at December 2024 ​ Forecast cash rate of 3.35% at December 2022 and 3.6% at December 2023 ​ Forecast to increase to 50 bps by December 2022 and then to 150 bps by December 2023 Unemployment rate: Australia ​ ​ Forecast rate of 4.7% at December 2023 and 5.1% at December 2024 ​ Forecast rate of 3.1% at December 2022 and 4.4% at December 2023 ​ ​ Forecast rate of 3.8% at December 2022 and 3.9% at December 2023 New Zealand ​ Forecast rate of 4.0% at December 2023 and 5.1% at December 2024 ​ Forecast rate of 3.4% at December 2022 and 3.8% at December 2023 ​ Forecast rate of 3.0% at December 2022 and 3.3% at December 2023. ​ The downside scenario is a more severe scenario with expected credit losses higher than the base case. The more severe loss outcome for the downside is generated under a recession in which the combination of negative GDP growth, declines in commercial and residential property prices and an increase in the unemployment rate simultaneously impact expected credit losses across all portfolios from the reporting date. The assumptions in this scenario and relativities to the base case will be monitored having regard to the emerging economic conditions and updated where necessary. The upside scenario represents a modest improvement to the base case. ​ ​ Note 9. Provision for expected credit losses (continued) The following sensitivity table shows the reported provision for ECL on loans and credit commitments based on the probability weighted scenarios and what the provision for ECL on loans and credit commitments would be assuming a 100% weighting to the base case scenario and to the downside scenario (with all other assumptions held constant). ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m 2023 2022 2022 Reported probability-weighted ECL 4,912 ​ 4,625 ​ 4,675 100% base case ECL 3,391 ​ 2,983 ​ 2,993 100% downside ECL 6,836 ​ 6,680 ​ 6,752 ​ If 1% of the Stage 1 gross exposure from loans and credit commitments (calculated on a 12 month ECL) was reflected in Stage 2 (calculated on a lifetime ECL) the provision for ECL on loans and credit commitments would increase by $95 million (30 September 2022: $113 million, 31 March 2022: $205 million) for the Group based on applying the average provision coverage ratios by stage to the movement in the gross exposure by stage. The following table indicates the economic weights applied by the Group at 31 March 2023, 30 September 2022 and 31 March 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March Scenario weightings (%) 2023 2022 2022 Upside 5 5 5 Base 50 50 50 Downside 45 45 45 ​ The Group’s definition of default is aligned to APRA’s regulatory definition of default, which is contained in Prudential Standard APS 220 Credit Risk Management. The Group applied APRA’s amendments to this definition in the period, which resulted in an increase in non- performing exposures. This was primarily due to the extension of the period over which certain credit exposures remain classified as non-performing before reclassification to performing. There was no material impact on the provision for ECL. Portfolio overlays Portfolio overlays are used to address areas of risk, including significant uncertainties that are not captured in the underlying modelled ECL. Determination of portfolio overlays requires expert judgement and is thoroughly documented and subject to comprehensive internal governance and oversight. Overlays are continually reassessed and if the risk is judged to have changed (increased or decreased), or is subsequently captured in the modelled ECL, the overlay will be released or remeasured. ​ The Group’s total overlays as at 31 March 2023 were $720 million (30 September 2022: $700 million; 31 March 2022: $1,136 million) and comprise: ● $489 million for consumers reflecting potential high consumer stress primarily from rising interest rates, higher inflation, higher unemployment and other risks (30 September 2022: $480 million; 31 March 2022: $270 million); ● $100 million relating to certain industries reflecting potential supply chain disruptions and labour shortages (30 September 2022: $150 million; 31 March 2022: $247 million); ● $131 million for extreme weather events including the expected impact on customers of recent flooding and cyclones in NZ; (30 September 2022: $70 million; 31 March 2022: $70 million); and ● Nil relating to COVID-19 impacts. Overlay has been removed as modelled outcomes now capture the risks (30 September 2022: nil ; 31 March 2022: $549 million). The change in provisions as a result of changes in portfolio overlays are reflected through the “net remeasurement of provision for ECL” line in Movement in provision for ECL on loans and credit commitments table. ​ Note 9. Provision for expected credit losses (continued) ​ Total provision for ECL ​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m ​ 2023 ​ 2022 ​ 2022 Provision for ECL on loans and credit commitments 4,912 4,625 4,675 Provision for ECL on debt securities at amortised cost 1 6 6 4 Provision for ECL on debt securities at FVOCI 2 5 4 3 Total provision for ECL 4,923 4,635 4,682 ​ 1. 2. ​ Reconciliation of impairment charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year ​ ​ March ​ Sept ​ March $m 2023 ​ 2022 ​ 2022 Loans and credit commitments: ​ ​ ​ ​ ​ ​ Business activity during the period ​ 54 ​ (136) ​ (94) Net remeasurement of the provision for ECL ​ 463 ​ 416 ​ 336 Impairment charges for debt securities at amortised cost ​ - ​ 3 ​ 1 Impairment charges for debt securities at FVOCI ​ 1 ​ - ​ (2) Recoveries ​ (128) ​ (87) ​ (102) Impairment charges/(benefits) ​ 390 ​ 196 ​ 139 ​

Credit Quality

Credit Quality	6 Months Ended
	Mar. 31, 2023
Credit Quality
Credit Quality	Note 10. Credit quality Credit risk ratings system The principal objective of the credit risk rating system is to reliably assess the credit risk to which the Group is exposed. The Group has two main approaches to this assessment. Transaction-managed customers Transaction managed customers are generally customers with business lending exposures. They are individually assigned a Customer Risk Grade (CRG), corresponding to their expected probability of default (PD). Each facility is assigned a loss given default (LGD). The Group’s risk rating system has a tiered scale of risk grades for both non-defaulted customers and defaulted customers. Non-defaulted CRGs are mapped to Moody’s and S&P Global Ratings (S&P) external senior unsecured ratings. The table below shows Westpac’s high level CRGs for transaction-managed portfolios mapped to the Group’s credit quality disclosure categories and to their corresponding external rating. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Transaction-managed Financial statement disclosure Westpac CRG Moody’s Rating S&P Rating Strong A Aaa – AAA – – ​ B A1 – A+ – – ​ C Baa1 – BBB+ – – Good/satisfactory D Ba1 – BB+ – ​ ​ ​ Westpac Rating Weak E Watch list ​ F Special Mention Weak/default/non-performing G Substandard/Default ​ H Default ​ ​ Note 10. Credit quality (continued) ​ Program-managed portfolio The program-managed portfolio generally includes retail products including mortgages, personal lending (including credit cards) as well as SME lending. These customers are grouped into pools of similar risk. Pools are created by analysing similar risk characteristics that have historically predicted that an account is likely to go into default. Customers grouped according to these predictive characteristics are assigned a PD and LGD relative to their pool. The credit quality of these pools is based on a combination of behavioural factors, delinquency trends, PD estimates and loan to valuation ratio (housing loans only). ​ The following table shows the credit quality of loans and undrawn credit commitments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2023 ​ ​ ​ ​ ​ As at 30 Sept 22 ​ ​ ​ ​ ​ As at 31 March 2022 ​ ​ $m Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Loans - housing Strong 403,099 ​ 39,960 ​ - ​ 443,059 393,754 41,790 - 435,544 401,201 24,367 - 425,568 Good/satisfactory 37,045 ​ 36,023 ​ - ​ 73,068 36,862 35,581 - 72,443 48,746 24,248 - 72,994 Weak 2,037 ​ 11,436 ​ 4,421 ​ 17,894 1,916 10,133 3,916 15,965 2,057 11,216 4,568 17,841 Total loans - housing 442,181 ​ 87,419 ​ 4,421 ​ 534,021 432,532 87,504 3,916 523,952 452,004 59,831 4,568 516,403 Loans - personal ​ ​ ​ ​ ​ Strong 4,854 ​ 111 ​ - ​ 4,965 4,961 99 - 5,060 4,890 84 - 4,974 Good/satisfactory 6,142 ​ 1,153 ​ - ​ 7,295 6,903 1,056 - 7,959 8,092 1,113 - 9,205 Weak 176 ​ 475 ​ 240 ​ 891 232 433 213 878 288 530 253 1,071 Total loans - personal 11,172 ​ 1,739 ​ 240 ​ 13,151 12,096 1,588 213 13,897 13,270 1,727 253 15,250 Loans - business ​ ​ ​ ​ ​ Strong 77,166 ​ 11,397 ​ - ​ 88,563 82,280 5,704 - 87,984 76,014 784 - 76,798 Good/satisfactory 81,213 ​ 29,909 ​ - ​ 111,122 87,770 23,018 - 110,788 94,954 13,197 - 108,151 Weak 72 ​ 4,300 ​ 3,172 ​ 7,544 84 4,031 3,117 7,232 185 3,897 3,067 7,149 Total loans - business 158,451 ​ 45,606 ​ 3,172 ​ 207,229 170,134 32,753 3,117 206,004 171,153 17,878 3,067 192,098 Undrawn credit commitments Strong 155,647 ​ 9,800 ​ - ​ 165,447 150,424 7,235 - 157,659 154,459 2,590 - 157,049 Good/satisfactory 32,907 ​ 8,573 ​ - ​ 41,480 34,011 6,946 - 40,957 37,519 5,369 - 42,888 Weak 113 ​ 966 ​ 397 ​ 1,476 100 1,036 347 1,483 116 812 321 1,249 Total undrawn credit commitments 188,667 ​ 19,339 ​ 397 ​ 208,403 184,535 15,217 347 200,099 192,094 8,771 321 201,186 Total strong 640,766 ​ 61,268 ​ - ​ 702,034 631,419 54,828 - 686,247 636,564 27,825 - 664,389 Total good/ satisfactory 157,307 ​ 75,658 ​ - ​ 232,965 165,546 66,601 - 232,147 189,311 43,927 - 233,238 Total weak 2,398 ​ 17,177 ​ 8,230 ​ 27,805 2,332 15,633 7,593 25,558 2,646 16,455 8,209 27,310 Total loans and undrawn credit commitments 800,471 ​ 154,103 ​ 8,230 ​ 962,804 799,297 137,062 7,593 943,952 828,521 88,207 8,209 924,937 ​

Deposits and other borrowings

Deposits and other borrowings	6 Months Ended
	Mar. 31, 2023
Deposits and other borrowings
Deposits and other borrowings	Note 11. Deposits and other borrowings 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 ​ Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 ​ - Mar 22 Australia ​ ​ Certificates of deposit 32,227 30,507 27,048 6 19 Non-interest bearing, repayable at call 54,967 55,180 54,829 - - Other interest bearing at call 349,419 352,544 361,609 (1) (3) Other interest bearing term 140,704 127,921 104,865 10 34 Total Australia 577,317 566,152 548,351 2 5 New Zealand ​ ​ ​ ​ ​ Certificates of deposit 2,618 2,588 2,783 1 (6) Non-interest bearing, repayable at call 12,251 12,674 14,706 (3) (17) Other interest bearing at call 28,395 27,517 30,188 3 (6) Other interest bearing term 34,057 28,423 27,945 20 22 Total New Zealand 77,321 71,202 75,622 9 2 Other overseas ​ ​ ​ ​ ​ Certificates of deposit 13,922 13,200 14,903 5 (7) Non-interest bearing, repayable at call 1,340 1,178 1,008 14 33 Other interest bearing at call 2,047 1,883 1,696 9 21 Other interest bearing term 4,405 5,514 4,026 (20) 9 Total other overseas 21,714 21,775 21,633 - - Total deposits and other borrowings 676,352 659,129 645,606 3 5 ​ 1. Non-interest bearing relates to instruments which do not carry a rate of interest.

Fair values of financial assets

Fair values of financial assets and financial liabilities	6 Months Ended
	Mar. 31, 2023
Fair values of financial assets and financial liabilities
Fair values of financial assets and financial liabilities	Note 12. Fair values of financial assets and financial liabilities Fair Valuation Control Framework The Group uses a Fair Valuation Control Framework where the fair value is either determined or validated by a function independent of the transaction. This framework formalises the policies and procedures used to achieve compliance with relevant accounting, industry and regulatory standards. The framework includes specific controls relating to: ● The revaluation of financial instruments; ● Independent price verification; ● Fair value adjustments; and ● Financial reporting. A key element of the framework is the Revaluation Committee, comprising senior valuation specialists from within the Group. The Revaluation Committee reviews the application of the agreed policies and procedures to assess that a fair value measurement basis has been applied. The method of determining fair value differs depending on the information available. Fair value hierarchy A financial instrument’s categorisation within the valuation hierarchy is based on the lowest level input that is significant to the fair value measurement. The Group categorises all fair value instruments according to the hierarchy described below. Valuation techniques The Group applies market accepted valuation techniques in determining the fair valuation of over the counter (OTC) derivatives. This includes CVA and FVA, which incorporate credit risk and funding costs and benefits that arise in relation to uncollateralised derivative positions, respectively. The specific valuation techniques, the observability of the inputs used in valuation models and the subsequent classification for each significant product category are outlined as follows: Level 1 instruments (Level 1) The fair value of financial instruments traded in active markets is based on recent unadjusted quoted prices. These prices are based on actual arm’s length basis transactions. The valuations of Level 1 instruments require little or no management judgement. Instrument Balance sheet category Includes Valuation ​ ​ ​ ​ ​ ​ ​ ​ ​ Exchange traded products ​ Derivatives ​ Exchange traded interest rate futures and options and commodity and carbon futures ​ ​ ​ ​ All these instruments are traded in liquid, active markets where prices are readily observable. No modelling or assumptions are used in the valuation. FX products ​ Derivatives ​ FX spot and futures contracts ​ ​ ​ ​ Equity products ​ Derivatives Trading securities and financial assets measured at FVIS Other financial liabilities ​ Listed equities and equity indices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt instruments ​ Trading securities and financial assets measured at FVIS Investment securities Other financial liabilities ​ Australian Commonwealth and New Zealand government bonds ​ ​ ​ ​ Life insurance assets ​ Life insurance assets included in assets held for sale ​ Listed equities, exchange traded derivatives and short sale of listed equities within controlled managed investment schemes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 12. Fair values of financial assets and financial liabilities (continued) Level 2 instruments (Level 2) The fair value for financial instruments that are not actively traded is determined using valuation techniques which maximise the use of observable market prices. Valuation techniques include: ● The use of market standard discounting methodologies; ● Option pricing models; and ● Other valuation techniques widely used and accepted by market participants. ​ ​ ​ ​ Instrument Balance sheet category Includes Valuation Interest rate products ​ Derivatives ​ Interest rate and inflation swaps, swaptions, caps, floors, collars and other non-vanilla interest rate derivatives ​ Industry standard valuation models are used to calculate the expected future value of payments by product, which is discounted back to a present value. The model’s interest rate inputs are benchmark and active quoted interest rates in the swap, bond and futures markets. Interest rate volatilities are sourced from brokers and consensus data providers. If consensus prices are not available, these are classified as Level 3 instruments. ​ FX products ​ Derivatives ​ FX swaps, FX forward contracts, FX options and other non-vanilla FX derivatives ​ Derived from market observable inputs or consensus pricing providers using industry standard models. If consensus prices are not available, these are classified as Level 3 instruments. ​ Other credit products ​ Derivatives ​ Single name and index credit default swaps ​ Valued using an industry standard model that incorporates the credit spread as its principal input. Credit spreads are obtained from consensus data providers. If consensus prices are not available, these are classified as Level 3 instruments. ​ Commodity products ​ Derivatives ​ Commodity and carbon derivatives ​ Valued using industry standard models. The models calculate the expected future value of deliveries and payments and discount them back to a present value. The model inputs include forward curves, volatilities implied from market observable inputs, discount curves and underlying spot and futures prices. The significant inputs are market observable or available through a consensus data service. If consensus prices are not available, these are classified as Level 3 instruments. ​ Equity products ​ Derivatives ​ Exchange traded equity options, OTC equity options and equity warrants ​ Due to low liquidity, exchange traded options are Level 2. Valued using industry standard models based on observable parameters such as stock prices, dividends, volatilities and interest rates. ​ Asset backed debt instruments ​ Trading securities and financial assets measured at FVIS Investment securities ​ Australian residential mortgage backed securities (RMBS) and other asset backed securities (ABS) ​ Valued using an industry approach to value floating rate debt with prepayment features. Australian RMBS are valued using prices sourced from a consensus data provider. If consensus prices are not available these are classified as Level 3 instruments. ​ Non-asset backed debt instruments ​ Trading securities and financial assets measured at FVIS Investment securities Other financial liabilities ​ State and other government bonds, corporate bonds and commercial paper Repurchase agreements and reverse repurchase agreements over non-asset backed debt securities ​ Valued using observable market prices, which are sourced from independent pricing services, broker quotes or inter-dealer prices. If prices are not available from these sources, these are classified as Level 3 instruments. ​ Loans at fair value ​ Loans ​ Fixed rate bills and syndicated loans ​ Discounted cash flow approach, using a discount rate which reflects the terms of the instrument and the timing of cash flows, adjusted for creditworthiness, or expected sale amount. ​ Certificates of deposit ​ Deposits and other borrowings ​ Certificates of deposit ​ Discounted cash flow using market rates offered for deposits of similar remaining maturities. ​ Debt issues at fair value ​ Debt issues ​ Debt issues ​ Discounted cash flows, using a discount rate which reflects the terms of the instrument and the timing of cash flows adjusted for market observable changes in Westpac’s implied credit worthiness. ​ ​ Note 12. Fair values of financial assets and financial liabilities (continued) Instrument Balance sheet category Includes Valuation ​ Life insurance assets and liabilities ​ Life insurance assets included in assets held for sale Life insurance liabilities included in liabilities held for sale ​ Corporate bonds, OTC derivatives, units in unlisted unit trusts, life insurance contract liabilities, life investment contract liabilities and external liabilities of managed investment schemes controlled by statutory life funds ​ Valued using observable market prices or other widely used and accepted valuation techniques utilising observable market input. ​ Level 3 instruments (Level 3) Financial instruments valued where at least one input that could have a significant effect on the instrument’s valuation is not based on observable market data due to illiquidity or complexity of the product. These inputs are generally derived and extrapolated from other relevant market data and calibrated against current market trends and historical transactions. These valuations are calculated using a high degree of management judgement. ​ ​ ​ Instrument Balance sheet category Includes Valuation Debt instruments ​ Trading securities and financial assets measured at FVIS Investment securities ​ Certain debt securities with low observability, usually issued via private placement ​ These securities are evaluated by an independent pricing service or based on third party revaluations. Due to their illiquidity and/or complexity these are classified as Level 3 assets. Equity instruments ​ Trading securities and financial assets measured at FVIS Investment securities ​ Strategic equity investments ​ Valued using valuation techniques appropriate to the instrument, including the use of recent arm’s length transactions where available, discounted cash flow approach or reference to the net assets of the entity. Due to their illiquidity, complexity and/or use of unobservable inputs into valuation models, they are classified as Level 3 assets. ​ The following tables summarise the attribution of financial instruments measured at fair value to the fair value hierarchy. ​ ​ ​ ​ ​ ​ ​ ​ ​ $m Level 1 Level 2 Level 3 Total As at 31 March 2023 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Trading securities and financial assets measured at FVIS ​ 10,885 ​ 19,578 ​ 11 ​ 30,474 Derivative financial instruments ​ 17 ​ 20,317 ​ 12 ​ 20,346 Investment securities ​ 2,905 ​ 69,150 ​ 414 ​ 72,469 Loans ​ - ​ 106 ​ 24 ​ 130 Total financial assets measured at fair value on a recurring basis ​ 13,807 ​ 109,151 ​ 461 ​ 123,419 Financial liabilities measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings ​ - ​ 48,769 ​ - ​ 48,769 Other financial liabilities ​ 1,361 ​ 10,088 ​ - ​ 11,449 Derivative financial instruments ​ 12 ​ 20,725 ​ 54 ​ 20,791 Debt issues ​ - ​ 5,655 ​ - ​ 5,655 Total financial liabilities measured at fair value on a recurring basis ​ 1,373 ​ 85,237 ​ 54 ​ 86,664 ​ ​ Note 12. Fair values of financial assets and financial liabilities (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $m ​ Level 1 Level 2 Level 3 Total As at 30 September 2022 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Trading securities and financial assets measured at FVIS ​ 2,039 ​ 22,275 ​ 18 ​ 24,332 Derivative financial instruments ​ 68 ​ 41,202 ​ 13 ​ 41,283 Investment securities ​ 12,634 ​ 62,263 ​ 387 ​ 75,284 Loans ​ - ​ 45 ​ 27 ​ 72 Total financial assets measured at fair value on a recurring basis ​ 14,741 ​ 125,785 ​ 445 ​ 140,971 Financial liabilities measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings ​ - ​ 46,331 ​ - ​ 46,331 Other financial liabilities ​ 2,006 ​ 9,319 ​ - ​ 11,325 Derivative financial instruments ​ 51 ​ 39,494 ​ 23 ​ 39,568 Debt issues ​ - ​ 6,740 ​ - ​ 6,740 Total financial liabilities measured at fair value on a recurring basis ​ 2,057 ​ 101,884 ​ 23 ​ 103,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2022 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Trading securities and financial assets measured at FVIS ​ 5,474 ​ 18,260 ​ 4 ​ 23,738 Derivative financial instruments ​ 38 ​ 18,204 ​ 27 ​ 18,269 Investment securities ​ 11,838 ​ 57,287 ​ 439 ​ 69,564 Loans ​ - ​ 217 ​ 32 ​ 249 Assets held for sale ​ 1,057 ​ 1,422 ​ - ​ 2,479 Total financial assets measured at fair value on a recurring basis ​ 18,407 ​ 95,390 ​ 502 ​ 114,299 Financial liabilities measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings ​ - ​ 44,743 ​ - ​ 44,743 Other financial liabilities ​ 1,090 ​ 5,767 ​ - ​ 6,857 Derivative financial instruments ​ 26 ​ 25,288 ​ 33 ​ 25,347 Debt issues ​ - ​ 6,294 ​ - ​ 6,294 Liabilities held for sale ​ - ​ 414 ​ - ​ 414 Total financial liabilities measured at fair value on a recurring basis ​ 1,116 ​ 82,506 ​ 33 ​ 83,655 ​ ​ Note 12. Fair values of financial assets and financial liabilities (continued) ​ Reconciliation of non-market observables The following table summarises the changes in financial instruments measured at fair value derived from non-market observable valuation techniques (Level 3). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 ​ ​ Trading ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ securities and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ measured at ​ Investment ​ ​ ​ Total Level 3 ​ ​ ​ Total Level 3 $m FVIS Securities Other 1 assets Derivatives liabilities Balance as at beginning of period ​ 18 ​ 387 ​ 40 ​ 445 ​ 23 ​ 23 Gains/(losses) on assets / (gains)/losses on liabilities recognised in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income statement ​ - ​ - ​ (4) ​ (4) ​ (2) ​ (2) Other comprehensive income ​ - ​ (32) ​ - ​ (32) ​ - ​ - Acquisitions and issues ​ 21 ​ 60 ​ 25 ​ 106 ​ 43 ​ 43 Disposals and settlements ​ - ​ (1) ​ (18) ​ (19) ​ (3) ​ (3) Transfer into or out of non-market observables ​ (29) ​ - ​ (8) ​ (37) ​ (7) ​ (7) Foreign currency translation impacts ​ 1 ​ - ​ 1 ​ 2 ​ - ​ - Balance as at end of period ​ 11 ​ 414 ​ 36 ​ 461 ​ 54 ​ 54 Unrealised gains/(losses) recognised in the income statement for financial instrument held as at end of period ​ - ​ - ​ 8 ​ 8 ​ (41) ​ (41) ​ 1. ​ Transfers into and out of Level 3 have occurred due to changes in observability in the significant inputs into the valuation models used to determine the fair value of the related financial instruments. Transfers in and transfers out are reported using the end of period fair values. Significant unobservable inputs Sensitivities to reasonably possible changes in non-market observable valuation assumptions would not have a material impact on the Group’s reported results. Day one profit or loss The closing balance of unrecognised day one profit was nil as at 31 March 2023 (30 September 2022: $1 million, 31 March 2022: $1 million). Financial instruments not measured at fair value The following table summarises the estimated fair value of financial instruments not measured at fair value for the Group. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2023 ​ As at 30 Sept 2022 ​ As at 31 March 2022 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair $m amount value amount value amount ​ value Financial assets not measured at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and balances with central banks ​ 117,886 ​ 117,886 105,257 105,257 102,410 ​ 102,410 Collateral paid ​ 4,093 ​ 4,093 6,216 6,216 7,374 ​ 7,374 Investment securities ​ 1,083 ​ 1,083 ​ 1,181 ​ 1,179 ​ 878 ​ 878 Loans ​ 749,801 ​ 744,302 739,575 732,511 719,307 ​ 716,281 Other financial assets ​ 7,343 ​ 7,343 ​ 5,626 ​ 5,626 ​ 4,896 ​ 4,896 Assets held for sale ​ - ​ - 20 20 26 ​ 26 Total financial assets not measured at fair value ​ 880,206 ​ 874,707 857,875 850,809 834,891 ​ 831,865 Financial liabilities not measured at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral received ​ 3,577 ​ 3,577 6,371 6,371 2,170 ​ 2,170 Deposits and other borrowings ​ 627,583 ​ 627,823 612,798 613,134 600,863 ​ 600,982 Other financial liabilities ​ 48,653 ​ 48,653 45,035 45,035 44,488 ​ 44,488 Debt issues 2 ​ 143,297 ​ 142,666 138,128 137,452 127,335 ​ 127,247 Loan capital 2 ​ 31,025 ​ 30,688 ​ 31,254 ​ 30,671 ​ 29,036 ​ 29,413 Liabilities held for sale ​ - ​ - 31 31 17 ​ 17 Total financial liabilities not measured at fair value ​ 854,135 ​ 853,407 833,617 832,694 803,909 ​ 804,317 ​ 2. A detailed description of how fair value is derived for financial instruments not measured at fair value is disclosed in Note 23 of the 2022 Annual Report

Provisions, contingent liabilit

Provisions, contingent liabilities, contingent assets and credit commitments	6 Months Ended
	Mar. 31, 2023
Provisions, contingent liabilities, contingent assets and credit commitments
Provisions, contingent liabilities, contingent assets and credit commitments	Note 13. Provisions, contingent liabilities, contingent assets and credit commitments Provisions are recognised for present obligations arising from past events where a payment (or other economic transfer) is likely to be necessary to settle the obligation and can be reliably estimated. Provisions raised by the Group are set out in the table in the “Provisions” section below. Where it is not probable there will be an outflow of economic resources or where a liability cannot be reliably estimated a contingent liability may exist. Provisions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2023 ​ ​ ​ ​ Annual ​ ​ ​ ​ ​ ​ ​ ​ ​ Compliance, ​ ​ ​ ​ ​ ​ leave and ​ Litigation ​ Provision for ​ ​ ​ ​ ​ regulation ​ ​ ​ ​ Long ​ other ​ and non- ​ impairment ​ Lease ​ Restructuring ​ and ​ ​ ​ ​ service ​ employee ​ lending ​ on credit ​ restoration ​ and other ​ remediation ​ ​ $m leave benefits losses commitments obligations provisions provisions Total Balance as at beginning of period ​ 450 ​ 922 ​ 83 ​ 419 ​ 208 ​ 355 ​ 513 ​ 2,950 Additions ​ 45 ​ 575 ​ 12 ​ 29 ​ 1 ​ 65 ​ 59 ​ 786 Utilisation ​ (23) ​ (859) ​ (20) ​ - ​ (13) ​ (128) ​ (172) ​ (1,215) Reversal of unutilised provisions ​ - ​ - ​ (1) ​ (6) ​ - ​ (8) ​ (82) ​ (97) Balance as at end of period ​ 472 ​ 638 ​ 74 ​ 442 ​ 196 ​ 284 ​ 318 ​ 2,424 ​ Compliance, regulation and remediation provisions Provisions for the Half Year 2023 in respect of compliance, regulation and remediation include estimates of: ● Customer refunds associated with matters of potential historical misconduct; ● Costs of completing remediation programs; and ● Potential non-lending losses and costs connected with certain litigation and regulatory investigations. It is possible that the final outcome could be below or above the provision, if the actual outcome differs from the assumptions used in estimating the provision. Remediation processes may change over time as further facts emerge and such changes could result in a change to the final exposure. Certain litigation As at 31 March 2023, the Group held provisions in respect of potential non-lending losses and costs connected with certain litigation, including a class action against Westpac Banking Corporation and two former subsidiaries, Westpac General Insurance Limited (now known as Allianz Australia General Insurance Limited) and Westpac Life Insurance Services Limited (now known as TAL Life Insurance Services Limited) in the Federal Court of Australia in relation to Westpac’s sale of consumer credit insurance products to customers. This class action has settled pending court approval. The settlement amount agreed between the parties is included in the 31 March 2023 provisions. As at the date of this report, the proposed settlement has not yet been approved by the Court. Consequently, there remains some uncertainty in respect of the settlement and the actual aggregate expense to Westpac associated with this matter. Certain of the entities mentioned above are no longer part of the Group following the sale of those entities. Westpac has provided warranties and indemnities to the acquirer for certain pre-completion matters, conduct and risks. Restructuring provisions The Group carries restructuring provisions for committed business restructures and branch closures. The provisions held primarily relate to separation costs and redundancies. The decrease in the current year mostly relates to the utilisation of provisions associated with completed business sales. Refer to Note 17 for further details. Lease restoration obligations The lease restoration provision reflects an estimate of the cost of making good leasehold premises at the end of the Group’s property leases. ​ Note 13. Provisions, contingent liabilities, contingent assets and credit commitments (continued) Contingent liabilities Contingent liabilities are possible obligations whose existence will be confirmed only by uncertain future events and present obligations where the transfer of economic resources is not probable or cannot be reliably measured. Contingent liabilities are not recognised on the balance sheet but are disclosed unless the outflow of economic resource is remote. Regulatory investigations, reviews and inquiries Regulators, statutory authorities and other bodies routinely conduct investigations, reviews and inquiries involving the financial services sector, both in Australia and overseas. These actions may consider a range of subject matters, and in Australia, a number of investigations and reviews are currently considering potential misconduct in relation to credit and financial services. Matters the subject of such reviews are also assessed for their impact on customers, with customer remediation undertaken where appropriate in accordance with the Group’s Customer Remediation Policy and Customer Remediation Standard. Domestic regulators, statutory authorities and other bodies such as ASIC, ACCC, APRA, AUSTRAC, BCCC, the OAIC, the ATO and the Fair Work Ombudsman, as well as certain international regulators such as the Reserve Bank of New Zealand, Financial Markets Authority and Commerce Commission in New Zealand, Bank of Papua New Guinea, Monetary Authority of Singapore and Hong Kong Monetary Authority, from time to time conduct investigations, reviews or inquiries, (some of which may be industry wide), covering a range of matters (including potential contraventions and non-compliance) that involve, or may in the future, involve the Group. These currently include investigations by the OAIC in relation to certain practices and systems for compliance with the Privacy Act 1988 It is uncertain what (if any) actions will result following the conclusion of these investigations or matters. No provisions have yet been made in relation to any financial liability that might arise in the event proceedings are pursued in relation to the matters outlined above, as any potential future liability of that kind cannot be reliably estimated at this time. Such investigations, reviews or inquiries have previously resulted, and may in the future result in litigation (including class action proceedings and criminal proceedings), significant fines and penalties, infringement notices, enforcement action including enforceable undertakings, requirement to undertake a review, referral to the relevant Commonwealth or State Director of Public Prosecutions for consideration for criminal prosecution, imposition of capital or liquidity requirements, licence revocation, suspension or variation, customer remediation or other sanctions or action being taken by regulators or other parties. Investigations have in some instances resulted, and could in the future result, in findings of a significant number of breaches of obligations. This in turn could lead to significant financial and other penalties. Prior penalties and contraventions by Westpac in relation to similar issues can also affect penalties that may be imposed. Litigation There are ongoing Court proceedings, claims and possible claims against the Group. Contingent liabilities exist in respect of actual and potential claims and proceedings, including those listed below. An assessment of the Group’s likely loss has been made on a case-by-case basis for the purpose of the financial statements but cannot always be reliably estimated, including in relation to those listed below. As at 31 March 2023, no provision is held for potential losses that may arise in relation to the matters below. Regulatory litigation ● On 5 May 2021, ASIC filed civil proceedings against Westpac alleging that it had engaged in insider trading and unconscionable conduct and failed to comply with its Australian financial services licence obligations. The allegations relate to interest rate hedging activity by Westpac during its involvement in the 2016 Ausgrid privatisation transaction. Westpac has filed its response to ASIC’s claim. A hearing date for this matter has been set down for 18 March 2024. ​ Note 13. Provisions, contingent liabilities, contingent assets and credit commitments (continued) Class actions ● The class action against BT Funds Management Limited (BTFM) and a former subsidiary, Westpac Life Insurance Services Limited (now known as TAL Life Insurance Services Limited) (WLIS) (referred to as ‘the respondents’) in the Federal Court of Australia, in relation to aspects of BTFM’s BT Super for Life former cash investment option, has settled pending court approval. In December 2022, the respondents paid the agreed settlement amount to a trust account held by the solicitors for the applicant so no provision remains. As at the date of this Report, the proposed settlement has not yet been approved by the Court. Consequently, there remains some uncertainty in respect of the settlement and the actual aggregate expense to Westpac associated with this matter. Certain of the entities mentioned above are no longer part of the Group following the sale of those entities. Westpac has provided warranties and indemnities to the acquirer for certain pre-completion matters, conduct and risks. ● Westpac is defending a class action proceeding which was commenced in December 2019 in the Federal Court of Australia on behalf of certain investors who acquired an interest in Westpac securities between 16 December 2013 and 19 November 2019. The proceeding involves allegations relating to market disclosure issues connected to Westpac’s monitoring of financial crime over the relevant period, and matters which were the subject of the AUSTRAC civil proceedings. The damages sought on behalf of members of the class have not yet been specified. However, in the course of a procedural hearing, the applicant indicated that a preliminary estimate of the losses that may be alleged in respect of a subset of potential group members exceeded $1 billion. While it remains unclear how the applicant will ultimately formulate their estimate of alleged damages claimed on behalf of group members, it is possible that the claim may be higher (or lower) than the amount referred to above. Given the time period and the nature of the claims alleged to be in question, along with the reduction in our market capitalisation at the time of the commencement of the AUSTRAC civil proceedings, it is likely that any total alleged damages (when, and if, ultimately articulated by the applicant) will be significant. Westpac continues to deny both that its disclosure was inappropriate and, as such, that any group member has incurred damage. ● On 15 July 2020, a class action was commenced against Westpac Banking Corporation and St.George Finance Limited (SGF) in the Supreme Court of Victoria in relation to flex commissions paid to auto dealers from 1 March 2013 to 31 October 2018. This proceeding is one of three class actions commenced against a number of lenders in the auto finance industry. It is alleged that Westpac and SGF are liable for the unfair conduct of dealers acting as credit representatives and engaged in misleading or deceptive conduct. The damages sought are unspecified. Westpac and SGF are defending the proceedings. Westpac no longer pays flex commissions following an industry wide ban issued by ASIC on 1 November 2018. Westpac is aware, including from media reports and other publicly available material, that at least one other class action (and possibly more) against Westpac entities is being investigated. For example, in July 2020 and again in October 2022, a law firm publicly stated that it is investigating a class action against Asgard and BTFM alleging that Asgard and BTFM did not act in the best interests of members of certain superannuation funds when obtaining group insurance policies. Westpac has not been served with a claim in relation to this matter and has no further information about the scope of the proposed claim beyond the public statements issued by the law firm involved. Internal reviews and remediation As in prior periods, Westpac is continuing to undertake a number of reviews to identify and resolve issues that have the potential to impact our customers, employees, other stakeholders and reputation. These internal reviews continue to identify issues in respect of which we are taking, or will take, steps to put things right, including so that our customers and employees (as applicable) are not disadvantaged from certain past practices, including by making compensation/remediation payments and providing refunds where appropriate. These issues include, among other things, compliance with lending obligations (including responsible lending); conflicts of interest; payroll processes, including as they relate to employee entitlements; regulatory reporting; oversight and sufficiency of training, policies and procedures; AML and CTF processes and procedures; product disclosure; destruction and retention of personal information; and impacts from inadequate product governance, including the way some product terms and conditions are operationalised. In relation to our New Zealand business, these issues include compliance with the requirements of the New Zealand Credit Contracts and Consumer Finance Act 2003 In addition, Westpac is currently addressing uplifts required in relation to its compliance with the Common Reporting Standard. ​ Note 13. Provisions, contingent liabilities, contingent assets and credit commitments (continued) By undertaking these reviews, we can also improve our processes and controls, including those of our contractors, agents, and authorised credit representatives. An assessment of the Group’s likely loss has been made on a case-by-case basis for the purpose of the financial statements but cannot always be reliably estimated. Even where Westpac has remediated or compensated customers, employees or issues, there can still be the risk of regulators challenging the basis, scope or pace of remediation, taking enforcement action (including enforceable undertakings and contrition payments), or imposing fines/penalties or other sanctions, including civil or criminal prosecutions. Contingent liabilities may exist in respect of actual or potential claims or proceedings (which could be brought by customers, employees/unions, regulators or criminal prosecutors), compensation/remediation payments and/or refunds identified as part of these reviews. Australian Financial Complaints Authority Contingent liabilities also exist in relation to customer complaints brought before the Australian Financial Complaints Authority (AFCA). AFCA has the power to make determinations about complaints and can award compensation up to certain thresholds. Financial Claims Scheme Under the Financial Claims Scheme (FCS), the Australian Government provides depositors a free guarantee of deposits in eligible ADIs of up to and including $250,000, per account holder for protected accounts in an eligible ADI. The FCS applies to an eligible ADI if APRA has applied for the winding up of the ADI or a statutory manager (under the Banking Act 1958 The Financial Claims Scheme (ADIs) Levy Act Exposures to third parties relating to divested businesses The Group has potential exposures relating to warranties, indemnities and other commitments it has provided to third parties in connection with various divestments of businesses and assets. The warranties, indemnities and other commitments cover a range of matters, conduct and risks, including certain compliance, regulatory investigations and litigation matters outlined in this Note 13. Contingent tax risk Tax and regulatory authorities in Australia and in other jurisdictions review, in the normal course of business, the direct and indirect taxation treatment of transactions (both historical and present-day transactions) undertaken by the Group. The Group also responds to various notices and requests for information it receives from tax and regulatory authorities. These reviews, notices and requests may result in additional tax liabilities (including interest and penalties). The Group has assessed these and other taxation matters arising in Australia and elsewhere, including seeking independent advice. Settlement risk The Group is subject to a credit risk exposure in the event that another counterparty fails to settle for its payments clearing activities (including foreign exchange). The Group seeks to minimise credit risk arising from settlement risk in the payments system by aligning our processing method with the legal certainty of settlement in the relevant clearing mechanism. Parent entity guarantees and undertakings to subsidiaries Consistent with 2022, Westpac Banking Corporation, as the parent entity of the Group, makes the following guarantees and undertakings to its subsidiaries: ● Letters of comfort for certain subsidiaries which recognise that Westpac has a responsibility that those subsidiaries continue to meet their obligations; and ● Guarantees to certain wholly owned subsidiaries which are Australian financial services or credit licensees to comply with legislative requirements. All but two guarantees are capped at $20 million per year (with an automatic reinstatement for another $20 million) and two specific guarantees are capped at $2 million (with an automatic reinstatement for another $2 million). ​ Note 13. Provisions, contingent liabilities, contingent assets and credit commitments (continued) Contingent assets The credit commitments shown in the following table also constitute contingent assets. These commitments would be classified as loans in the balance sheet on the contingent event occurring. Undrawn credit commitments The Group enters into various arrangements with customers which are only recognised in the balance sheet when called upon. These arrangements include commitments to extend credit, bill endorsements, financial guarantees, standby letters of credit and underwriting facilities. They expose the Group to liquidity risk when called upon and also to credit risk if the customer fails to repay the amounts owed at the due date. The maximum exposure to credit loss is the contractual or notional amount of the instruments. Some of the arrangements can be cancelled by the Group at any time and a significant portion is expected to expire without being drawn. The actual liquidity and credit risk exposure varies in line with amounts drawn and may be less than the amounts disclosed. The Group uses the same credit policies when entering into these arrangements as it does for on-balance sheet instruments. Refer to Notes 12 and 22 of the 2022 Annual Report for further details of credit risk and liquidity risk management, respectively. Undrawn credit commitments excluding derivatives are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 ​ Mar 23 $m 2023 2022 2022 - Sept 22 - Mar 22 Undrawn credit commitments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Letters of credit and guarantees 1 ​ 11,936 ​ 11,868 ​ 11,716 ​ 1 ​ 2 Commitments to extend credit 2 ​ 195,765 ​ 188,183 ​ 189,415 ​ 4 ​ 3 Other ​ 702 ​ 48 ​ 55 ​ large ​ large Total undrawn credit commitments ​ 208,403 ​ 200,099 ​ 201,186 ​ 4 ​ 4 ​ 1. Standby letters of credit are undertakings to pay, against presentation documents, an obligation in the event of a default by a customer. Guarantees are unconditional undertakings given to support the obligations of a customer to third parties. The Group may hold cash as collateral for certain guarantees issued. 2. Commitments to extend credit include all obligations on the part of the Group to provide credit facilities. As facilities may expire without being drawn upon, the notional amounts do not necessarily reflect future cash requirements. In addition to the commitments disclosed above, as at March 2023, the Group had $ 7.4 billion of credit exposures that were offered and accepted but still revocable (September 2022: $8.6 billion; March 2022 $8.8 billion). These represent part of Westpac Group’s maximum exposure to credit risk.

Shareholders' equity

Shareholders' equity	6 Months Ended
	Mar. 31, 2023
Shareholders' equity
Shareholders' equity	Note 14. Shareholders’ equity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m 2023 2022 2022 Share capital ​ ​ ​ ​ ​ ​ Ordinary share capital, fully paid ​ 39,824 ​ 39,666 ​ 39,667 Treasury shares 1 ​ (702) ​ (655) ​ (651) Total share capital ​ 39,122 ​ 39,011 ​ 39,016 NCI ​ 44 ​ 57 ​ 54 ​ 1. 31 March 2023: 5,396,087 unvested RSP treasury shares held (30 September 2022: 5,086,660 , 31 March 2022: 5,076,534 ). Ordinary Shares Westpac does not have authorised capital and the ordinary shares have no par value. Ordinary shares entitle the holder to participate in dividends and, in the event of Westpac winding up, to a share of the proceeds in proportion to the number of and amounts paid on the shares held. Each ordinary share entitles the holder to one vote, either in person or by proxy, at a shareholder meeting. Reconciliation of movement in number of ordinary shares ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year ​ ​ March ​ Sept ​ March ​ 2023 2022 2022 Balance as at beginning of period ​ 3,501,127,694 ​ 3,501,127,694 ​ 3,668,591,808 Dividend reinvestment plan 2 ​ 7,949,266 ​ - ​ - Issued shares for the period ​ 7,949,266 ​ - ​ - Off-market share buy-back 3 ​ - ​ - ​ (167,464,114) Balance as at end of period ​ 3,509,076,960 ​ 3,501,127,694 ​ 3,501,127,694 ​ 2. The price per share for the issuance of shares in relation to the DRP for the 2022 final dividend was $23.86 . The DRP for the 2022 interim dividend (as well as 2021 final dividend) had no impact on the number of ordinary shares on issue as Westpac arranged for the purchase of the necessary shares from the market and transfer to participants of 9,971,443 ordinary shares (2021 final dividend: 10,286,188 ordinary shares) at an average price of $23.96 (2021 final dividend: $22.34 ). 3. On 14 February 2022, the Group announced the successful completion of its $3.5 billion off-market share buy-back of Westpac ordinary shares. 167,464,114 ordinary shares were bought back at $20.90 , and comprised a fully franked dividend component of $9.56 per share ($ 1,601 million) and a capital component of $11.34 per share ($ 1,902 million including transaction costs). The shares bought back were subsequently cancelled. Ordinary shares purchased on market ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 ​ ​ ​ ​ Average price Consolidated Number ($) For share-based payment arrangements: ​ ​ ​ ​ Employee share plan (ESP) ​ 1,156,722 ​ 23.79 RSP 4 ​ 2,061,377 ​ 23.40 Westpac Performance Plan (WPP) - share rights exercised ​ 170,226 ​ 22.81 Net number of ordinary shares purchased on market ​ 3,388,325 ​ ​ ​ 4. Ordinary shares allocated to employees under the RSP are classified as treasury shares until the shares vest. ​ ​ Note 14. Shareholders’ equity (continued) Reconciliation of movement in reserves ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year ​ ​ March ​ Sept ​ March $m ​ 2023 2022 2022 Debt securities at FVOCI reserve ​ ​ ​ Balance as at beginning of period 62 ​ 223 443 Net gains/(losses) from changes in fair value 13 ​ (187) (142) Income tax effect - ​ 50 38 Transferred to income statement (65) ​ (49) (205) Income tax effect 21 ​ 16 62 Loss allowance on debt securities measured at FVOCI ​ 1 ​ - ​ (2) Other (15) ​ 9 29 Balance as at end of period 17 ​ 62 223 Equity securities at FVOCI reserve ​ ​ ​ ​ Balance as at beginning of period 136 ​ 190 44 Net gains/(losses) from changes in fair value (34) ​ (54) 146 Income tax effect ​ 9 ​ - ​ - Balance as at end of period 111 ​ 136 190 Share-based payment reserve ​ ​ ​ ​ Balance as at beginning of period 1,893 ​ 1,866 1,806 Share-based payment expense 58 ​ 27 60 Balance as at end of period 1,951 ​ 1,893 1,866 Cash flow hedge reserve ​ ​ ​ ​ Balance as at beginning of period 813 ​ 1,049 196 Net gains/(losses) from changes in fair value 522 ​ 82 1,222 Income tax effect (156) ​ (21) (362) Transferred to income statement (418) ​ (424) (10) Income tax effect 124 ​ 127 3 Balance as at end of period 885 ​ 813 1,049 Foreign currency translation reserve ​ ​ ​ ​ Balance as at beginning of period (505) ​ (407) (241) Exchange differences on translation of foreign operations 553 ​ (133) (367) Gains/(losses) on net investment hedges (175) ​ 35 201 Balance as at end of period (127) ​ (505) (407) Other reserves ​ ​ ​ ​ Balance as at beginning of period (21) ​ (20) (21) Transactions with owners - ​ (1) 1 Balance as at end of period (21) ​ (21) (20) Total reserves 2,816 ​ 2,378 2,901 ​

Notes to the consolidated cash

Notes to the consolidated cash flow statements	6 Months Ended
	Mar. 31, 2023
Notes to the consolidated cash flow statements
Notes to the consolidated cash flow statement	Note 15. Notes to the consolidated cash flow stateme nt Reconciliation of net cash provided by/(used in) operating activities to profit after income tax expense for the period is set out below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 ​ Mar 23 $m ​ 2023 2022 2022 ​ - Sept 22 ​ - Mar 22 Profit after income tax expense ​ 4,005 ​ 2,415 ​ 3,284 ​ 66 ​ 22 Adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation, amortisation and impairment ​ 536 ​ 776 ​ 805 ​ (31) ​ (33) Impairment charges/(benefits) ​ 518 ​ 283 ​ 241 ​ 83 ​ 115 Net decrease/(increase) in current and deferred tax ​ 256 ​ 326 ​ 101 ​ (21) ​ 153 (Increase)/decrease in accrued interest receivable ​ (558) ​ (485) ​ (59) ​ 15 ​ large (Decrease)/increase in accrued interest payable ​ 1,350 ​ 769 ​ 25 ​ 76 ​ large (Decrease)/increase in provisions ​ (526) ​ (85) ​ (536) ​ large ​ (2) Other non-cash items ​ 413 ​ 2,038 ​ (169) ​ (80) ​ large Cash flows from operating activities before changes in operating assets and liabilities ​ 5,994 ​ 6,037 ​ 3,692 ​ (1) ​ 62 Net (increase)/decrease in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral paid ​ 1,898 ​ 1,769 ​ (3,293) ​ 7 ​ large Trading securities and financial assets measured at FVIS ​ (4,967) ​ (1,644) ​ (2,106) ​ large ​ 136 Derivative financial instruments ​ (165) ​ (553) ​ 3,004 ​ (70) ​ large Loans ​ (5,074) ​ (23,709) ​ (12,636) ​ (79) ​ (60) Other financial assets ​ (148) ​ (447) ​ 726 ​ (67) ​ large Life insurance assets and liabilities ​ - ​ 133 ​ 133 ​ (100) ​ (100) Other assets ​ 26 ​ 37 ​ (17) ​ (30) ​ large Net increase/(decrease) in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral received ​ (2,781) ​ 3,827 ​ (184) ​ large ​ large Deposits and other borrowings ​ 13,464 ​ 13,296 ​ 21,758 ​ 1 ​ (38) Other financial liabilities ​ (328) ​ 5,738 ​ 1,382 ​ large ​ large Other liabilities ​ (4) ​ 8 ​ 3 ​ large ​ large Net cash provided by/(used in) operating activities ​ 7,915 ​ 4,492 ​ 12,462 ​ 76 ​ (36) ​ ​ Note 15. Notes to the consolidated cash flow statement (continued) Details of the assets and liabilities over which control ceased Details of the businesses over which control ceased are provided in Note 17. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year ​ ​ March ​ Sept ​ March $m 2023 2022 2022 Assets: Cash and balances with central banks 18 169 - Loans - - 965 Other financial assets 18 54 12 Life insurance assets ​ - ​ 2,180 ​ 186 Deferred tax assets - 39 - Intangible assets 55 - - Other assets - 156 12 Total assets 91 2,598 1,175 Liabilities: Other financial liabilities 22 32 2 Current tax liabilities ​ - ​ - ​ 2 Life insurance liabilities ​ - ​ 300 ​ (115) Provisions 1 48 4 Deferred tax liabilities ​ - ​ - ​ 34 Other liabilities - 177 36 Total liabilities 23 557 (37) Total equity attributable to owners of WBC 68 2,041 1,212 Cash proceeds received (net of transaction costs) 311 896 1,388 Expected receivable (completion settlement)/deferred consideration - 33 113 Total consideration 311 929 1,501 Gain/(loss) on disposal 243 (1,112) 289 Reconciliation of cash proceeds from disposal: Cash proceeds received (net of transaction costs) 311 896 1,388 Less: Cash deconsolidated (18) (169) - Cash consideration received (net of transaction costs and cash held) 293 727 1,388 ​ Businesses disposed During Half Year 2023, Westpac disposed of its 100% interest in AAML to Mercer (Australia). In addition, on 1 April 2023, Westpac merged its BT personal and corporate superannuation funds to Mercer Super Trust. ​ Non-cash financing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 ​ Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 ​ - Mar 22 Shares issued under the dividend reinvestment plan 190 - - - - Increase in lease liabilities 158 146 98 8 61 ​ Restricted cash Certain of our foreign operations are required to maintain reserves or minimum balances with central banks in their respective countries of operation, totalling $328 million (30 September 2022: $303 million, 31 March 2022: $480 million) which are included in cash and balances with central banks.

Subsequent events

Subsequent events	6 Months Ended
	Mar. 31, 2023
Subsequent events
Subsequent events	Note 16. Subsequent events ​ Since 31 March 2023, the Board has determined to pay a fully franked interim dividend of 70 cents per fully paid ordinary share. The dividend is expected to be $2,456 million. The dividend is not recognised as a liability at 31 March 2023. The proposed payment date of the dividend is 27 June 2023. The Board has determined to satisfy the DRP for the 2023 interim dividend by arranging for the purchase of existing shares by a third party. The market price used to determine the number of shares allocated to DRP participants will be set over the 10 trading days commencing 17 May 2023 and will not include a discount. No other matters have arisen since the half year ended 31 March 2023, which are not otherwise dealt with in this 2023 Interim Financial Report, that have significantly affected or may significantly affect the operations of the Group, the results of its operations or the state of affairs of the Group in subsequent periods.

Assets and liabilities held for

Assets and liabilities held for sale	6 Months Ended
	Mar. 31, 2023
Assets and liabilities held for sale
Assets and liabilities held for sale	Note 17. Assets and liabilities held for sale The assets and liabilities of certain businesses were classified as held for sale. As these businesses do not constitute a major line of business for the Group, they have not been classified as discontinued operations. Transactions completed during First Half 2023 Advance Asset Management Limited and BT Superannuation funds The sale of Advance Asset Management Limited to Mercer (Australia) completed on 31 March 2023. This sale resulted in a pre-tax gain on sale of $243 million ($256 million post-tax). On 1 April 2023, Westpac merged its BT personal and corporate superannuation funds with Mercer Super Trust also. In Half Year 2023, an expense recovery of $53 million has been recognised in operating expenses. Both businesses included in the Specialist Business division. Balance sheet presentation Details of the assets and liabilities held for sale are as follows: ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at ​ ​ 31 March 30 Sept ​ 31 March $m ​ 2023 2022 ​ 2022 Assets held for sale ​ ​ ​ ​ Cash and balances with central banks - ​ - ​ 8 Other financial assets - ​ 20 ​ 18 Life insurance assets ​ - ​ - ​ 2,479 Deferred tax assets ​ - ​ - ​ 43 Intangible assets - ​ 55 ​ - Other assets - ​ - ​ 152 Total assets held for sale ​ - ​ 75 ​ 2,700 Liabilities held for sale ​ ​ ​ ​ ​ Other financial liabilities - ​ 31 ​ 17 Life insurance liabilities ​ - ​ - ​ 414 Provisions - ​ 1 ​ 65 Deferred tax liabilities ​ - ​ - ​ 3 Other liabilities - ​ - ​ 185 Total liabilities held for sale - ​ 32 ​ 684 ​

Financial statements preparat_2

Financial statements preparation (Policies)	6 Months Ended
	Mar. 31, 2023
Financial statements preparation
Financial statements preparation	Financial statements preparation This general purpose Interim Financial Report for the half year ended 31 March 2023 has been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting Corporations Act 2001 (Cth) The Interim Financial Report does not include all the notes of the type normally included in an Annual Financial Report. Accordingly, this Interim Financial Report is to be read in conjunction with the Annual Financial Report for the year ended 30 September 2022 and any relevant public announcements made by Westpac during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001 (Cth) The Interim Financial Report complies with current Australian Accounting Standards (AAS) as they relate to interim financial reports. The Interim Financial Report was authorised for issue by the Board of Directors on 7 May 2023. All amounts have been rounded in accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, to the nearest million dollars, unless otherwise stated. Accounting policies The accounting policies adopted in the preparation of this Interim Financial Report are consistent with those in the Annual Financial Report for the year ended 30 September 2022.
Critical accounting assumptions and estimates	Critical accounting assumptions and estimates In preparing the Interim Financial Report, the application of the Group’s accounting policies requires the use of judgement, assumptions and estimates. The areas of judgement, assumptions and estimates in the Interim Financial Report, including the key sources of estimation uncertainty, are consistent with those in the Annual Financial Report for the year ended 30 September 2022. Details on specific judgements in relation to the calculation of provision for ECL including overlays are included in Note 9.
Amendments to Accounting Standards effective this period	Amendments to Accounting Standards effective this period No new accounting standards have been adopted by the Group for the half year ended 31 March 2023. There have been no amendments to existing accounting standards that have had a material impact to the Group.
Future developments in accounting standards	Future developments in accounting standards There are no new standards or amendments to existing standards that are not yet effective that are expected to have a material impact on the Group.
Interest rate benchmark reform	Interest rate benchmark reform The IBOR reform and the enterprise-wide IBORs Transition Programme the Group has established to manage the impacts of this reform are detailed in Note 22.4 of the Group’s 2022 Annual Report. A number of IBORs had a 31 December 2021 cessation date. The Group ceased to enter into new contracts referencing these rates and the Group’s exposures to contracts which reference these rates have either matured or transitioned to an alternative reference rate (ARR) with the exception of a small number of trades with immaterial balances. Certain US LIBOR tenors have not yet transitioned to an ARR as they have a cessation date of 30 June 2023. The Group has monitoring controls in place to assess US LIBOR exposures on a regular basis and an overall Programme objective to transition away from USD LIBOR transactions. For the Group’s derivative exposures, almost all have bilateral adherence from our counterparties to the fallback clauses issued by the International Swaps and Derivatives Association (ISDA) in the ISDA 2020 IBOR Fallbacks Protocol which provides a standardised process to identify the appropriate ARR at the relevant benchmark transition date. For the Group’s non-derivative exposures, the Group is engaging with its customers and counterparties to transition or include appropriate fallback provisions. Due to the nature of these contracts, these fallback provisions will be determined bilaterally with the customer or counterparty rather than the standardised basis provided by the ISDA protocols applicable to our derivative contracts. In addition, the Group’s exposure to new contracts referencing these rates is limited by regulatory guidelines whereby transactions from 31 December 2021 can only be entered into for risk management purposes.

Segment reporting (Tables)

Segment reporting (Tables)	6 Months Ended
	Mar. 31, 2023
Segment reporting
Schedule of segment results for the Group	The tables present the segment results for the Group: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ Westpac ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Westpac ​ New ​ ​ ​ ​ ​ ​ ​ Notable ​ ​ ​ ​ ​ ​ ​ Business ​ Institutional ​ Zealand ​ Specialist ​ Group ​ ​ ​ Items ​ Income $m Consumer Business Banking Bank (A$) Businesses Businesses Total (pre-tax) statement Half Year March 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income 4,693 2,043 6,736 ​ 712 1,145 ​ 216 393 ​ 9,202 ​ (89) 9,113 Net fee income 266 163 429 ​ 296 82 ​ 22 (2) ​ 827 ​ - 827 Net wealth management and insurance income ​ 22 ​ - ​ 22 ​ - ​ 17 ​ 308 ​ - ​ 347 ​ - ​ 347 Trading income ​ - ​ - ​ - ​ 375 ​ 18 ​ 22 ​ (6) ​ 409 ​ (22) ​ 387 Other income ​ 9 ​ 2 ​ 11 ​ 33 ​ (1) ​ 41 ​ 2 ​ 86 ​ 243 ​ 329 Notable Items ​ - ​ - ​ - ​ - ​ - ​ 243 ​ (111) ​ 132 ​ (132) ​ - Net operating income 4,990 2,208 7,198 ​ 1,416 1,261 ​ 852 276 ​ 11,003 ​ - 11,003 Operating expenses 1 (2,301) ​ (914) ​ (3,215) ​ (617) ​ (574) ​ (280) ​ (302) ​ (4,988) ​ - ​ (4,988) Notable Items ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total operating expenses ​ (2,301) ​ (914) ​ (3,215) ​ (617) ​ (574) ​ (280) ​ (302) ​ (4,988) ​ - ​ (4,988) Pre-provision profit ​ 2,689 ​ 1,294 ​ 3,983 ​ 799 ​ 687 ​ 572 ​ (26) ​ 6,015 ​ - ​ 6,015 Impairment (charges)/benefits (170) ​ (78) ​ (248) ​ 4 ​ (142) ​ (2) ​ (2) ​ (390) ​ - ​ (390) Profit before income tax expense 2,519 1,216 3,735 ​ 803 545 ​ 570 (28) ​ 5,625 ​ - 5,625 Income tax (expense)/benefit 2 (756) ​ (365) ​ (1,121) ​ (229) ​ (154) ​ (73) ​ (43) ​ (1,620) ​ - ​ (1,620) Net profit attributable to NCI - - - ​ - - ​ (4) - ​ (4) ​ - (4) Net profit attributable to owners of WBC 1,763 851 2,614 ​ 574 391 ​ 493 (71) ​ 4,001 ​ - 4,001 Notable Items (post-tax) 2 ​ - ​ - ​ - ​ - ​ - ​ 256 ​ (78) ​ 178 ​ ​ ​ ​ Balance sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ 479,761 ​ 85,568 ​ 565,329 ​ 84,697 ​ 91,943 ​ 8,086 ​ (124) ​ 749,931 ​ ​ ​ ​ Deposits and other borrowings ​ 293,565 ​ 133,442 ​ 427,007 ​ 112,662 ​ 77,321 ​ 10,046 ​ 49,316 ​ 676,352 ​ ​ ​ ​ ​ 1. Impairment of assets (including goodwill and other intangible assets) were insignificant for all segments except for the following: - Specialist Businesses: First Half 2023: nil (Second Half 2022: nil , First Half 2022: $167 million); - Group Businesses: First Half 2023: nil (Second Half 2022: $159 million, First Half 2022: $7 million). 2. The tax impact of Notable Items was a reduction to income tax (expense)/benefit of $46 million in First Half 2023 (Second Half 2022: $135 million reduction, First Half 2022: $89 million addition). ​ ​ Note 2. Segment reporting (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer and ​ Westpac ​ Westpac New ​ ​ ​ ​ ​ ​ ​ Notable ​ ​ ​ ​ ​ ​ ​ Business ​ Institutional ​ Zealand ​ Specialist ​ Group ​ ​ ​ Items ​ Income $m Consumer Business Banking Bank (A$) Businesses Businesses Total (pre-tax) statement Half Year Sept 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income 4,608 1,704 6,312 ​ 629 1,073 ​ 232 339 ​ 8,585 ​ 288 8,873 Net fee income 248 165 413 ​ 303 99 ​ 17 (5) ​ 827 ​ (1) 826 Net wealth management and insurance income ​ 25 ​ - ​ 25 ​ - ​ 15 ​ 375 ​ - ​ 415 ​ (8) ​ 407 Trading income ​ - ​ - ​ - ​ 249 ​ 18 ​ 21 ​ (7) ​ 281 ​ 40 ​ 321 Other income ​ 15 ​ 2 ​ 17 ​ 2 ​ (4) ​ 5 ​ 46 ​ 66 ​ (1,117) ​ (1,051) Notable Items ​ - ​ - ​ - ​ - ​ (12) ​ (1,120) ​ 334 ​ (798) ​ 798 ​ - Net operating income 4,896 1,871 6,767 ​ 1,183 1,189 ​ (470) 707 ​ 9,376 ​ - 9,376 Operating expenses 1 (2,254) (915) (3,169) ​ (607) (538) ​ (313) (412) ​ (5,039) ​ (390) (5,429) Notable Items ​ (66) ​ - ​ (66) ​ - ​ - ​ (150) ​ (174) ​ (390) ​ 390 ​ - Total operating expenses ​ (2,320) ​ (915) ​ (3,235) ​ (607) ​ (538) ​ (463) ​ (586) ​ (5,429) ​ - ​ (5,429) Pre-provision profit ​ 2,576 ​ 956 ​ 3,532 ​ 576 ​ 651 ​ (933) ​ 121 ​ 3,947 ​ - ​ 3,947 Impairment (charges)/benefits (228) ​ 15 ​ (213) ​ (27) ​ 16 ​ 29 ​ (1) ​ (196) ​ - ​ (196) Profit before income tax expense 2,348 971 3,319 ​ 549 667 ​ (904) 120 ​ 3,751 ​ - 3,751 Income tax (expense)/benefit 2 (703) (292) (995) ​ (168) (192) ​ 50 (31) ​ (1,336) ​ - (1,336) Net profit attributable to NCI - ​ - ​ - ​ - ​ - ​ (1) ​ - ​ (1) ​ - ​ (1) Net profit attributable to owners of WBC 1,645 679 2,324 ​ 381 475 ​ (855) 89 ​ 2,414 ​ - 2,414 Notable Items (post-tax) 2 ​ (47) ​ - ​ (47) ​ - ​ (10) ​ (1,112) ​ 116 ​ (1,053) ​ ​ ​ ​ Balance sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ 474,604 ​ 84,897 ​ 559,501 ​ 85,182 ​ 85,285 ​ 9,866 ​ (187) ​ 739,647 ​ ​ ​ ​ Deposits and other borrowings ​ 280,574 ​ 133,335 ​ 413,909 ​ 116,552 ​ 71,202 ​ 9,457 ​ 48,009 ​ 659,129 ​ ​ ​ ​ ​ 1. Impairment of assets (including goodwill and other intangible assets) were insignificant for all segments except for the following: - Specialist Businesses: First Half 2023: nil (Second Half 2022: nil , First Half 2022: $167 million); - Group Businesses: First Half 2023: nil (Second Half 2022: $159 million, First Half 2022: $7 million). 2. The tax impact of Notable Items was a reduction to income tax (expense)/benefit of $46 million in First Half 2023 (Second Half 2022: $135 million reduction, First Half 2022: $89 million addition). ​ Note 2. Segment reporting (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ Westpac ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Westpac ​ New ​ ​ ​ ​ ​ ​ ​ Notable ​ ​ ​ ​ ​ ​ ​ Business ​ Institutional ​ Zealand ​ Specialist ​ Group ​ ​ ​ Items ​ Income $m Consumer Business Banking Bank (A$) Businesses Businesses Total (pre-tax) statement Half Year March 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income 4,377 1,323 5,700 ​ 481 1,034 ​ 242 564 ​ 8,021 ​ 267 8,288 Net fee income 265 162 427 ​ 302 86 ​ 29 1 ​ 845 ​ - 845 Net wealth management and insurance income ​ 26 ​ - ​ 26 ​ - ​ 39 ​ 379 ​ - ​ 444 ​ (43) ​ 401 Trading income ​ - ​ - ​ - ​ 267 ​ 25 ​ 20 ​ 27 ​ 339 ​ 4 ​ 343 Other income ​ 33 ​ 3 ​ 36 ​ 23 ​ 1 ​ 14 ​ 8 ​ 82 ​ 271 ​ 353 Notable Items ​ - ​ - ​ - ​ - ​ 132 ​ 109 ​ 258 ​ 499 ​ (499) ​ - Net operating income 4,701 1,488 6,189 ​ 1,073 1,317 ​ 793 858 ​ 10,230 ​ - 10,230 Operating expenses 1 (2,369) (984) (3,353) ​ (581) (534) ​ (370) (304) ​ (5,142) ​ (231) (5,373) Notable Items ​ - ​ - ​ - ​ - ​ - ​ (215) ​ (16) ​ (231) ​ 231 ​ - Total operating expenses (2,369) (984) (3,353) ​ (581) (534) ​ (585) (320) ​ (5,373) ​ - (5,373) Pre-provision profit ​ 2,332 ​ 504 ​ 2,836 ​ 492 ​ 783 ​ 208 ​ 538 ​ 4,857 ​ - ​ 4,857 Impairment (charges)/benefits 27 (158) (131) ​ (58) 9 ​ 38 3 ​ (139) ​ - ​ (139) Profit before income tax expense 2,359 346 2,705 ​ 434 792 ​ 246 541 ​ 4,718 ​ - ​ 4,718 Income tax (expense)/benefit 2 (713) (107) (820) ​ (128) (190) ​ (111) (185) ​ (1,434) ​ - ​ (1,434) Net profit attributable to NCI - - - ​ - - ​ (3) (1) ​ (4) ​ - ​ (4) Net profit attributable to owners of WBC 1,646 239 1,885 ​ 306 602 ​ 132 355 ​ 3,280 ​ - ​ 3,280 Notable Items (post-tax) 2 ​ - ​ - ​ - ​ - ​ 129 ​ (114) ​ 164 ​ 179 ​ ​ ​ ​ Balance sheet ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ 465,697 ​ 80,949 ​ 546,646 ​ 73,950 ​ 87,361 ​ 11,730 ​ (131) ​ 719,556 ​ ​ ​ ​ Deposits and other borrowings ​ 276,161 ​ 134,716 ​ 410,877 ​ 104,661 ​ 75,622 ​ 8,362 ​ 46,084 ​ 645,606 ​ ​ ​ ​ ​ 1. Impairment of assets (including goodwill and other intangible assets) were insignificant for all segments except for the following: - Specialist Businesses: First Half 2023: nil (Second Half 2022: nil , First Half 2022: $167 million); - Group Businesses: First Half 2023: nil (Second Half 2022: $159 million, First Half 2022: $7 million). 2. The tax impact of Notable Items was a reduction to income tax (expense)/benefit of $46 million in First Half 2023 (Second Half 2022: $135 million reduction, First Half 2022: $89 million addition). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Notable Items after tax ​ ​ ​ ​ ​ ​ ​ ​ ​ Economic hedges (121) ​ 266 ​ 204 ​ large large Hedge ineffectiveness ​ 43 ​ (33) ​ (19) ​ large ​ large Provisions for litigation, fines and penalties 3 - ​ (68) ​ (65) ​ (100) (100) Asset sales and revaluations 256 ​ (1,089) ​ 213 ​ large 20 The write-down of assets - ​ (129) ​ (154) ​ (100) (100) Total Notable Items after tax 178 ​ (1,053) ​ 179 ​ large (1) ​ 3. Second Half 2022 and First Half 2022 also included provisions for estimated customer refunds and payments and associated costs.

Net Interest Income and Avera_2

Net Interest Income and Average Balance Sheet and Interest Rates (Tables)	6 Months Ended
	Mar. 31, 2023
Net interest income and average balance sheet and interest rates
Schedule of net interest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Interest income 1 ​ ​ Calculated using the effective interest method ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and balances with central banks 1,806 637 46 184 large Collateral paid 269 64 4 large large Investment securities 918 620 506 48 81 Loans 16,276 11,549 9,547 41 70 Other financial assets 10 2 - large - Assets held for sale ​ - ​ - ​ 6 ​ - ​ (100) Total interest income calculated using the effective interest method ​ 19,279 ​ 12,872 ​ 10,109 ​ 50 ​ 91 Other ​ ​ ​ ​ ​ Net ineffectiveness on qualifying hedges 62 (50) (27) large large Trading securities and financial assets measured at FVIS 498 224 123 122 large Total other 560 174 96 large large Total interest income 19,839 13,046 10,205 52 94 Interest expense ​ ​ ​ ​ ​ Calculated using the effective interest method ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral received (142) (60) (4) 137 large Deposits and other borrowings (6,151) (2,098) (712) 193 large Debt issues (2,268) (1,406) (851) 61 167 Loan capital (620) (586) (440) 6 41 Other financial liabilities (234) (117) (45) 100 large Total interest expense calculated using the effective interest method (9,415) (4,267) (2,052) 121 large Other ​ ​ ​ ​ ​ Deposits and other borrowings (801) (350) (49) 129 large Trading liabilities 2 (188) 717 452 large large Debt issues (116) (62) (31) 87 large Bank levy (164) (163) (177) 1 (7) Other interest expense ​ (42) ​ (48) ​ (60) ​ (13) ​ (30) Total other (1,311) 94 135 large large Total interest expense (10,726) (4,173) (1,917) 157 large Net interest income 9,113 8,873 8,288 3 10 ​ 1. Included items relating to compliance, regulation and remediation costs recognised as a $9 million addition to net interest income (Second Half 2022: $8 million reduction, First Half 2022: $9 million addition). Refer to Note 13 for further details. 2. Includes net impact of Treasury balance sheet management activities.
Summary of the average daily balances of the Group's interest earning assets and interest bearing liabilities	Average balance sheet and interest rates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 ​ Half Year Sept 2022 ​ Half Year March 2022 ​ Average ​ Average Average ​ Average Average ​ Average ​ ​ balance ​ Interest ​ rate ​ balance ​ Interest ​ rate ​ balance ​ Interest ​ rate ​ ​ $m ​ $m ​ % ​ $m ​ $m ​ % ​ $m ​ $m ​ % Assets Interest earning assets Loans 1 699,735 ​ 16,276 ​ 4.7 ​ 683,786 ​ 11,549 ​ 3.4 ​ 669,815 ​ 9,547 ​ 2.9 Housing ​ 481,538 ​ 10,174 ​ 4.2 ​ 472,098 ​ 7,349 ​ 3.1 ​ 468,207 ​ 6,317 ​ 2.7 Personal ​ 13,485 ​ 556 ​ 8.3 ​ 14,471 ​ 582 ​ 8.0 ​ 15,618 ​ 618 ​ 7.9 Business ​ 204,712 ​ 5,546 ​ 5.4 ​ 197,217 ​ 3,618 ​ 3.7 ​ 185,990 ​ 2,612 ​ 2.8 Trading securities and financial assets measured at FVIS 29,044 ​ 498 ​ 3.4 ​ 23,426 ​ 224 ​ 1.9 ​ 22,243 ​ 123 ​ 1.1 Investment securities 76,015 ​ 918 ​ 2.4 ​ 77,783 ​ 620 ​ 1.6 ​ 77,779 ​ 506 ​ 1.3 Other interest earning assets 2 ​ 129,414 ​ 2,147 ​ 3.3 ​ 116,786 ​ 653 ​ 1.1 ​ 101,392 ​ 23 ​ - Assets held for sale ​ - ​ - ​ - ​ 5 ​ - ​ - ​ 846 ​ 6 ​ 1.4 Total interest earning assets and interest income 934,208 ​ 19,839 ​ 4.3 ​ 901,786 ​ 13,046 ​ 2.9 ​ 872,075 ​ 10,205 ​ 2.3 Non-interest earning assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial instruments 25,290 ​ ​ ​ 28,479 ​ ​ ​ 18,283 ​ ​ ​ Assets held for sale ​ 60 ​ ​ ​ ​ 1,843 ​ ​ ​ ​ ​ 3,048 ​ ​ ​ All other assets 3 58,365 ​ ​ ​ 59,492 ​ ​ ​ 64,427 ​ ​ ​ Total non-interest earning assets 83,715 ​ ​ ​ 89,814 ​ ​ ​ 85,758 ​ ​ ​ Total assets 1,017,923 ​ ​ ​ 991,600 ​ ​ ​ 957,833 ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest bearing liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings 599,545 6,952 ​ 2.3 581,038 2,448 0.8 570,842 761 ​ 0.3 Certificates of deposit ​ 45,447 ​ 799 ​ 3.5 ​ 48,068 ​ 347 ​ 1.4 ​ 46,544 ​ 48 ​ 0.2 At call ​ 386,455 ​ 3,520 ​ 1.8 ​ 389,417 ​ 1,158 ​ 0.6 ​ 391,719 ​ 342 ​ 0.2 Term ​ 167,643 ​ 2,633 ​ 3.1 ​ 143,553 ​ 943 ​ 1.3 ​ 132,579 ​ 371 ​ 0.6 Repurchase agreements 41,310 228 ​ 1.1 39,807 112 0.6 35,740 38 ​ 0.2 Loan capital 33,649 620 ​ 3.7 30,910 586 3.8 30,504 440 ​ 2.9 Other interest bearing liabilities 4 174,925 2,926 ​ 3.4 167,147 1,027 1.2 149,307 678 ​ 0.9 Total interest bearing liabilities and interest expense 849,429 10,726 ​ 2.5 818,902 4,173 1.0 786,393 1,917 ​ 0.5 Non-interest bearing liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings 68,678 ​ ​ ​ 69,082 ​ ​ ​ 69,413 ​ ​ ​ Derivative financial instruments 29,765 ​ ​ ​ 30,434 ​ ​ ​ 19,035 ​ ​ ​ Liabilities held for sale ​ 26 ​ ​ ​ ​ 590 ​ ​ ​ ​ ​ 775 ​ ​ ​ All other liabilities 5 (969) ​ ​ ​ 3,072 ​ ​ ​ 11,087 ​ ​ ​ Total non-interest bearing liabilities 97,500 ​ ​ ​ 103,178 ​ ​ ​ 100,310 ​ ​ ​ Total liabilities 946,929 ​ ​ ​ 922,080 ​ ​ ​ 886,703 ​ ​ ​ Shareholders’ equity 70,947 ​ ​ ​ 69,467 ​ ​ ​ 71,073 ​ ​ ​ NCI 47 ​ ​ ​ 53 ​ ​ ​ 57 ​ ​ ​ Total equity 70,994 ​ ​ ​ 69,520 ​ ​ ​ 71,130 ​ ​ ​ Total liabilities and equity ​ 1,017,923 ​ ​ ​ ​ ​ 991,600 ​ ​ ​ ​ ​ 957,833 ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Australia 602,493 13,791 ​ 4.6 590,428 9,679 3.3 574,439 8,015 ​ 2.8 New Zealand 90,605 2,304 ​ 5.1 86,989 1,755 4.0 89,021 1,448 ​ 3.3 Other overseas 6,637 181 ​ 5.5 6,369 115 3.6 6,355 84 ​ 2.7 Deposits and other borrowings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Australia 516,397 5,547 ​ 2.2 498,319 1,760 0.7 489,642 489 ​ 0.2 New Zealand 63,422 1,017 ​ 3.2 60,312 522 1.7 61,263 243 ​ 0.8 Other overseas 19,726 388 ​ 3.9 22,407 166 1.5 19,937 29 ​ 0.3 ​ 1. Loans are net of Stage 3 provision for ECL, where interest income is determined based on their carrying value. Stage 1 and 2 provisions for ECL are not included in the average interest earning assets balance, as interest income is determined based on the gross value of loans and other receivables. 2. Interest income includes net ineffectiveness on qualifying hedges. 3. Includes property and equipment, intangible assets, deferred tax assets, non-interest bearing loans relating to mortgage offset accounts and all other non-interest earning assets. 4. Includes net impact of Treasury balance sheet management activities and the Bank Levy. 5. Includes other financial liabilities, provisions, current and deferred tax liabilities and all other non-interest bearing liabilities.

Non-interest income (Tables)

Non-interest income (Tables)	6 Months Ended
	Mar. 31, 2023
Non-interest income
Schedule of non-interest income	Non-interest income 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Net fees ​ ​ Facility fees 338 342 ​ 344 (1) (2) Transaction fees 589 576 ​ 556 2 6 Other non-risk fee income 68 50 ​ 72 36 (6) Fee income 995 968 ​ 972 3 2 Credit card loyalty programs (81) (66) ​ (60) 23 35 Transaction fee related expenses (87) (76) ​ (67) 14 30 Fee expenses (168) (142) ​ (127) 18 32 Net fees 827 826 ​ 845 - (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net wealth management and insurance ​ ​ ​ ​ ​ Net wealth management income 347 365 361 (5) (4) Life insurance premium income - 314 520 (100) (100) Life insurance investment and other income 2 - (12) (129) (100) (100) Total insurance premium, investment and other income - 302 391 (100) ​ (100) Life insurance claims, changes in life insurance liabilities and other expenses - (260) (351) (100) (100) Total insurance claims, changes in insurance liabilities and other expenses - (260) (351) (100) (100) Net wealth management and insurance 347 407 401 (15) (13) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trading 387 321 343 21 13 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends received from other entities - 1 3 (100) (100) Net gain/(loss) on sale/derecognition of associates 1 12 13 (92) (92) Net gain/(loss) on disposal of assets - (1) (2) (100) (100) Net gain/(loss) on hedging of overseas operations - 1 (1) (100) (100) Net gain/(loss) on derivatives held for risk management purposes 3 - 2 7 (100) (100) Net gain/(loss) on financial instruments measured at fair value 29 (4) 16 large 81 Net gain/(loss) on disposal of controlled entities and other businesses 4 ​ 268 ​ (1,112) ​ 289 ​ large ​ (7) Rental income on operating leases 5 7 9 (29) (44) Share of associates’ net profit/(loss) (3) (4) (3) (25) - Other 29 47 22 (38) 32 Total other 329 (1,051) 353 large (7) Total non-interest income 1,890 503 1,942 large (3) ​ ​ 1. Includes items relating to compliance, regulation and remediation costs recognised as an addition in non-risk fee income, net wealth management income and other income totalled $ 8 million for First Half 2023 (Second Half 2022: $56 million reduction, First Half 2022: $8 million reduction). Refer to Note 13 for further details. 2. Includes policyholder tax recoveries. 3. Income from derivatives held for risk management purposes reflects the impact of economic hedges of earnings. 4. First Half 2023 included a profit on sale of $243 million for AAML, Second Half 2022 included $1,112 million loss on sale of Australian life insurance business, while First Half 2022 included $170 million gain on sale of auto finance and $119 million gain on sale of NZ life insurance.

Operating expenses (Tables)

Operating expenses (Tables)	6 Months Ended
	Mar. 31, 2023
Operating expenses
Schedule of operating expenses	Operating expenses 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Staff ​ ​ ​ Employee remuneration, entitlements and on-costs 2,545 2,527 ​ 2,584 ​ 1 (2) Superannuation 270 255 ​ 278 ​ 6 (3) Share-based payments 44 42 ​ 46 ​ 5 (4) Restructuring costs 33 60 ​ 74 ​ (45) (55) Total staff 2,892 2,884 ​ 2,982 ​ - (3) Occupancy ​ ​ ​ ​ ​ ​ ​ Operating lease rentals 81 91 ​ 79 ​ (11) 3 Depreciation and impairment of property and equipment 2 227 365 ​ 261 ​ (38) (13) Other 64 60 ​ 58 ​ 7 10 Total occupancy 372 516 ​ 398 ​ (28) (7) Technology ​ ​ ​ ​ ​ ​ ​ Amortisation and impairment of software assets 2 250 318 ​ 337 ​ (21) (26) Depreciation and impairment of IT equipment 58 92 ​ 85 ​ (37) (32) Technology services 352 377 ​ 342 ​ (7) 3 Software maintenance and licences 296 258 ​ 248 ​ 15 19 Telecommunications 59 72 ​ 72 ​ (18) (18) Data processing 39 40 ​ 41 ​ (3) (5) Total technology 1,054 1,157 ​ 1,125 ​ (9) (6) Other ​ ​ ​ ​ ​ ​ ​ Professional and processing services 413 554 ​ 460 ​ (25) (10) Amortisation and impairment of other intangible assets and deferred expenditure 2 1 1 ​ 122 ​ - (99) Postage and stationery 67 70 ​ 74 ​ (4) (9) Advertising 79 77 ​ 81 ​ 3 (2) Non-lending losses 1 59 ​ 45 ​ (98) (98) Other expenses 109 111 ​ 86 ​ (2) 27 Total other 670 872 ​ 868 ​ (23) (23) Total operating expenses 4,988 5,429 ​ 5,373 ​ (8) (7) ​ 1. Operating expenses included items relating to compliance, regulation and remediation costs were a reduction of $ 6 million (Second Half 2022: $46 million addition; First Half 2022: $17 million addition). Refer to Note 13 for further details. 2. Nil impairment expenses for the First Half 2023. Significant impairment expenses in comparative periods included: ● Property and equipment (Second Half 2022: $ 116 million, First Half 2022: $1 million); ● Capitalised software assets (Second Half 2022: $56 million, First Half 2022: $54 million); ● Goodwill and other intangible assets (Second Half 2022: nil , First Half 2022: $122 million).

Income tax (Tables)

Income tax (Tables)	6 Months Ended
	Mar. 31, 2023
Income tax
Schedule of income tax reconciled to profit before income tax	The following table reconciles income tax expense to the profit before income tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Profit before income tax 5,625 ​ 3,751 ​ 4,718 ​ 50 19 Tax at the Australian company tax rate of 30% 1,688 ​ 1,126 ​ 1,415 ​ 50 19 The effect of amounts which are not deductible/(assessable) in calculating taxable income: ​ ​ ​ ​ ​ ​ ​ Hybrid capital distributions 54 ​ 39 ​ 28 ​ 38 93 Life insurance: ​ ​ ​ ​ ​ ​ Tax adjustment on policyholder earnings - ​ (1) ​ - ​ (100) - Other non-assessable items (1) ​ (63) ​ (34) ​ (98) (97) Other non-deductible items 10 ​ 362 ​ 47 ​ (97) (79) Adjustment for overseas tax rates (16) ​ (16) ​ (15) ​ - 7 Income tax (over)/under provided in prior periods - ​ (84) ​ 7 ​ (100) (100) Other items 1 (115) ​ (27) ​ (14) ​ large large Total income tax expense 2 1,620 ​ 1,336 ​ 1,434 ​ 21 13 Effective income tax rate 28.80% ​ 35.62% ​ 30.39% ​ large ( 159 bps) ​ 1. 2.

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Mar. 31, 2023
Earnings per share
Schedule of earnings per share	Basic earnings per share (EPS) is calculated by dividing the net profit attributable to owners of WBC by the weighted average number of ordinary shares on issue during the period, adjusted for treasury shares. Diluted EPS is calculated by adjusting the basic EPS by assuming all dilutive potential ordinary shares are converted. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 Half Year Sept 2022 Half Year March 2022 ​ Basic Diluted Basic Diluted Basic Diluted Net profit attributable to owners of WBC ($m) 4,001 4,001 2,414 2,414 3,280 3,280 Adjustment for RSP dividends 3 (2) - (1) - (2) - Adjustment for potential dilution: ​ ​ ​ ​ ​ ​ Distributions to convertible loan capital holders 4 - 186 - 133 - 100 Adjusted net profit attributable to owners of WBC 3,999 ​ 4,187 ​ 2,413 ​ 2,547 ​ 3,278 ​ 3,380 Weighted average number of ordinary shares (millions) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of ordinary shares on issue 3,506 ​ 3,506 ​ 3,501 ​ 3,501 ​ 3,626 ​ 3,626 Treasury shares (including RSP share rights) 3 (5) ​ (5) ​ (5) ​ (5) ​ (4) ​ (4) Adjustment for potential dilution: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share-based payments - ​ 3 ​ - ​ 4 ​ - ​ 3 Convertible loan capital 4 - ​ 384 ​ - ​ 361 ​ - ​ 321 Adjusted weighted average number of ordinary shares 3,501 ​ 3,888 ​ 3,496 ​ 3,861 ​ 3,622 ​ 3,946 Earnings per ordinary share (cents) 114.2 ​ 107.7 ​ 69.0 ​ 66.0 ​ 90.5 ​ 85.7 ​ 3. Some shares under the RSP have not vested and are not outstanding ordinary shares but do receive dividends. These RSP dividends are deducted to show the profit attributable to ordinary shareholders. 4. The Group has issued convertible loan capital which may convert into ordinary shares in the future. These convertible loan capital instruments are potentially dilutive instruments, and diluted EPS is therefore calculated as if the instruments had been converted at the beginning of the respective period or, if later, the instruments’ issue date.

Loans (Tables)

Loans (Tables)	6 Months Ended
	Mar. 31, 2023
Loans
Schedule of loan portfolio disaggregated by location of booking office and product type	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 - Mar 22 Australia ​ ​ ​ Housing 472,570 467,382 ​ 458,278 ​ 1 3 Personal 12,028 12,832 ​ 14,128 ​ (6) (15) Business 169,891 170,636 ​ 156,763 ​ - 8 Total Australia 654,489 650,850 ​ 629,169 ​ 1 4 New Zealand ​ ​ ​ ​ ​ ​ ​ Housing 61,081 56,211 ​ 57,780 ​ 9 6 Personal 1,116 1,058 ​ 1,116 ​ 5 - Business 30,668 28,855 ​ 29,294 ​ 6 5 Total New Zealand 92,865 86,124 ​ 88,190 ​ 8 5 Total other overseas 7,047 6,879 ​ 6,392 ​ 2 10 Gross loans 754,401 743,853 ​ 723,751 ​ 1 4 Provision for ECL on loans (Note 9) ​ (4,470) ​ (4,206) ​ (4,195) ​ 6 ​ 7 Total loans 1,2 749,931 739,647 719,556 1 4 ​ 1. Total loans included securitised loans of $4,019 million as at 31 March 2023 (30 September 2022: $4,747 million, 31 March 2022: $4,808 million). The level of securitised loans excludes loans where Westpac is the holder of related debt securities. 2. Total loans included assets pledged for the covered bond programs of $40,483 million as at 31 March 2023 (30 September 2022: $38,455 million, 31 March 2022: $35,052 million).

Provisions for expected credi_2

Provisions for expected credit losses (Tables)	6 Months Ended
	Mar. 31, 2023
Provisions for expected credit losses
Schedule of provision for ECL	​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m ​ 2023 ​ 2022 ​ 2022 Provision for ECL on loans and credit commitments 4,912 4,625 4,675 Provision for ECL on debt securities at amortised cost 1 6 6 4 Provision for ECL on debt securities at FVOCI 2 5 4 3 Total provision for ECL 4,923 4,635 4,682 ​ 1. 2. ​
Reconciliation of impairment charges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year ​ ​ March ​ Sept ​ March $m 2023 ​ 2022 ​ 2022 Loans and credit commitments: ​ ​ ​ ​ ​ ​ Business activity during the period ​ 54 ​ (136) ​ (94) Net remeasurement of the provision for ECL ​ 463 ​ 416 ​ 336 Impairment charges for debt securities at amortised cost ​ - ​ 3 ​ 1 Impairment charges for debt securities at FVOCI ​ 1 ​ - ​ (2) Recoveries ​ (128) ​ (87) ​ (102) Impairment charges/(benefits) ​ 390 ​ 196 ​ 139
Loans and credit commitments
Provisions for expected credit losses
Schedule of provision for ECL	The following table shows the provision for ECL on loans and credit commitments by stage: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 Mar 23 $m 2023 2022 2022 - Sept 22 - Mar 22 Performing - Stage 1 891 885 1,078 1 (17) Performing - Stage 2 2,628 2,341 2,107 12 25 Non-performing - Stage 3 1,393 1,399 1,490 - (7) Total provision for ECL on loans and credit commitments 4,912 4,625 4,675 6 5 Presented as: ​ ​ ​ ​ ​ Provision for ECL on loans (Note 8) 4,470 4,206 4,195 6 7 Provision for ECL on credit commitments (Note 13) 442 419 480 5 (8) Total provision for ECL on loans and credit commitments 4,912 4,625 4,675 6 5 Of which: ​ ​ ​ ​ ​ ​ Individually assessed provisions 382 452 501 (15) (24) Collectively assessed provisions 4,530 4,173 4,174 9 9 Total provision for ECL on loans and credit commitments 4,912 4,625 4,675 6 5 Gross loans and credit commitments ​ 962,804 ​ 943,952 ​ 924,937 ​ 2 ​ 4 Coverage ratio on loans (%) ​ 0.59% ​ 0.57% ​ 0.58% ​ 2 bps ​ 1 bps Coverage ratio on loans and credit commitments (%) ​ 0.51% ​ 0.49% ​ 0.51% ​ 2 bps -
Movement in provisions for ECL on loans and credit commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ Consolidated ​ Performing ​ performing ​ ​ $m Stage 1 Stage 2 ​ Stage 3 Total Balance as at 30 September 2021 ​ 936 ​ 2,091 ​ 1,972 ​ 4,999 Transfers to Stage 1 ​ 461 ​ (398) ​ (63) ​ - Transfers to Stage 2 ​ (102) ​ 509 ​ (407) ​ - Transfers to Stage 3 ​ (8) ​ (198) ​ 206 ​ - Business activity during the period ​ 255 ​ (149) ​ (200) ​ (94) Net remeasurement of provision for ECL ​ (463) ​ 264 ​ 535 ​ 336 Write-offs ​ - ​ - ​ (566) ​ (566) Exchange rate and other adjustments ​ (1) ​ (12) ​ 13 ​ - Balance as at 31 March 2022 ​ 1,078 ​ 2,107 ​ 1,490 ​ 4,675 Transfers to Stage 1 ​ 451 ​ (394) ​ (57) ​ - Transfers to Stage 2 ​ (133) ​ 493 ​ (360) ​ - Transfers to Stage 3 ​ (6) ​ (185) ​ 191 ​ - Business activity during the period ​ 99 ​ (95) ​ (140) ​ (136) Net remeasurement of provision for ECL ​ (603) ​ 425 ​ 594 ​ 416 Write-offs ​ - ​ - ​ (368) ​ (368) Exchange rate and other adjustments ​ (1) ​ (10) ​ 49 ​ 38 Balance as at 30 September 2022 ​ 885 ​ 2,341 ​ 1,399 ​ 4,625 Transfers to Stage 1 ​ 694 ​ (619) ​ (75) ​ - Transfers to Stage 2 ​ (159) ​ 408 ​ (249) ​ - Transfers to Stage 3 ​ (4) ​ (247) ​ 251 ​ - Business activity during the period ​ 136 ​ 54 ​ (136) ​ 54 Net remeasurement of provision for ECL ​ (670) ​ 677 ​ 456 ​ 463 Write-offs ​ - ​ - ​ (271) ​ (271) Exchange rate and other adjustments ​ 9 ​ 14 ​ 18 ​ 41 Balance as at 31 March 2023 ​ 891 ​ 2,628 ​ 1,393 ​ 4,912 ​
Schedule of provision for ECL by class and stage	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ Performing ​ performing ​ ​ $m ​ Stage 1 ​ Stage 2 ​ Stage 3 ​ Total Housing 264 680 498 1,442 Personal 124 315 150 589 Business 690 1,112 842 2,644 Balance as at 31 March 2022 1,078 2,107 1,490 4,675 Housing 143 1,095 415 1,653 Personal 99 250 123 472 Business 643 996 861 2,500 Balance as at 30 September 2022 885 2,341 1,399 4,625 Housing 171 ​ 1,123 ​ 454 ​ 1,748 Personal 91 ​ 268 ​ 127 ​ 486 Business 629 ​ 1,237 ​ 812 ​ 2,678 Balance as at 31 March 2023 891 ​ 2,628 ​ 1,393 ​ 4,912 ​
Schedule of impact of overlays on the provision for ECL	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m 2023 2022 2022 Modelled provision for ECL on loans and credit commitments 4,192 ​ 3,925 ​ 3,539 Overlays 720 ​ 700 ​ 1,136 Total provision for ECL on loans and credit commitments ​ 4,912 ​ 4,625 ​ 4,675 ​
Summary of key macroeconomic assumptions for base case scenario	Economic forecasts (from Westpac Economics) used for the different reporting periods are as follows: ​ ​ ​ ​ ​ ​ ​ Key economic assumptions for base case scenario 31 March 2023 30 September 2022 31 March 2022 Annual GDP ​ Forecast growth of 1.0% for calendar year 2023 and 1.5% for calendar year 2024 ​ Forecast growth of 3.4% for calendar year 2022 and 1.0% for calendar year 2023 ​ Forecast growth of 5.5% for calendar year 2022 and 2.7% for calendar year 2023 Commercial property index ​ Forecast price contraction of 9.4% for calendar year 2023 and forecast growth of 1.4% for calendar year 2024 ​ Forecast price contraction of 4.7% for calendar year 2022 and 3.0% for calendar year 2023 ​ Forecast price contraction of 3.1% for calendar year 2022 and growth of 2.1% for calendar year 2023 Residential property prices ​ Forecast price contraction of 7.8% for calendar year 2023 and forecast growth of 2.0% for calendar year 2024 ​ Forecast price contraction of 6.5% for calendar year 2022 and 7.8% for calendar year 2023 ​ Forecast price appreciation of 1.6% for calendar year 2022 and contraction of 7.0% for calendar 2023 Cash rate ​ Forecast cash rate of 3.85% at December 2023 and 2.85% at December 2024 ​ Forecast cash rate of 3.35% at December 2022 and 3.6% at December 2023 ​ Forecast to increase to 50 bps by December 2022 and then to 150 bps by December 2023 Unemployment rate: Australia ​ ​ Forecast rate of 4.7% at December 2023 and 5.1% at December 2024 ​ Forecast rate of 3.1% at December 2022 and 4.4% at December 2023 ​ ​ Forecast rate of 3.8% at December 2022 and 3.9% at December 2023 New Zealand ​ Forecast rate of 4.0% at December 2023 and 5.1% at December 2024 ​ Forecast rate of 3.4% at December 2022 and 3.8% at December 2023 ​ Forecast rate of 3.0% at December 2022 and 3.3% at December 2023. ​
Summary of the the probability weighted scenarios	The following sensitivity table shows the reported provision for ECL on loans and credit commitments based on the probability weighted scenarios and what the provision for ECL on loans and credit commitments would be assuming a 100% weighting to the base case scenario and to the downside scenario (with all other assumptions held constant). ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m 2023 2022 2022 Reported probability-weighted ECL 4,912 ​ 4,625 ​ 4,675 100% base case ECL 3,391 ​ 2,983 ​ 2,993 100% downside ECL 6,836 ​ 6,680 ​ 6,752 ​
Summary of macroeconomic scenario weightings	The following table indicates the economic weights applied by the Group at 31 March 2023, 30 September 2022 and 31 March 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March Scenario weightings (%) 2023 2022 2022 Upside 5 5 5 Base 50 50 50 Downside 45 45 45 ​

Credit Quality (Tables)

Credit Quality (Tables)	6 Months Ended
	Mar. 31, 2023
Credit Quality
Schedule of credit quality of loans and credit commitments	The following table shows the credit quality of loans and undrawn credit commitments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2023 ​ ​ ​ ​ ​ As at 30 Sept 22 ​ ​ ​ ​ ​ As at 31 March 2022 ​ ​ $m Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Loans - housing Strong 403,099 ​ 39,960 ​ - ​ 443,059 393,754 41,790 - 435,544 401,201 24,367 - 425,568 Good/satisfactory 37,045 ​ 36,023 ​ - ​ 73,068 36,862 35,581 - 72,443 48,746 24,248 - 72,994 Weak 2,037 ​ 11,436 ​ 4,421 ​ 17,894 1,916 10,133 3,916 15,965 2,057 11,216 4,568 17,841 Total loans - housing 442,181 ​ 87,419 ​ 4,421 ​ 534,021 432,532 87,504 3,916 523,952 452,004 59,831 4,568 516,403 Loans - personal ​ ​ ​ ​ ​ Strong 4,854 ​ 111 ​ - ​ 4,965 4,961 99 - 5,060 4,890 84 - 4,974 Good/satisfactory 6,142 ​ 1,153 ​ - ​ 7,295 6,903 1,056 - 7,959 8,092 1,113 - 9,205 Weak 176 ​ 475 ​ 240 ​ 891 232 433 213 878 288 530 253 1,071 Total loans - personal 11,172 ​ 1,739 ​ 240 ​ 13,151 12,096 1,588 213 13,897 13,270 1,727 253 15,250 Loans - business ​ ​ ​ ​ ​ Strong 77,166 ​ 11,397 ​ - ​ 88,563 82,280 5,704 - 87,984 76,014 784 - 76,798 Good/satisfactory 81,213 ​ 29,909 ​ - ​ 111,122 87,770 23,018 - 110,788 94,954 13,197 - 108,151 Weak 72 ​ 4,300 ​ 3,172 ​ 7,544 84 4,031 3,117 7,232 185 3,897 3,067 7,149 Total loans - business 158,451 ​ 45,606 ​ 3,172 ​ 207,229 170,134 32,753 3,117 206,004 171,153 17,878 3,067 192,098 Undrawn credit commitments Strong 155,647 ​ 9,800 ​ - ​ 165,447 150,424 7,235 - 157,659 154,459 2,590 - 157,049 Good/satisfactory 32,907 ​ 8,573 ​ - ​ 41,480 34,011 6,946 - 40,957 37,519 5,369 - 42,888 Weak 113 ​ 966 ​ 397 ​ 1,476 100 1,036 347 1,483 116 812 321 1,249 Total undrawn credit commitments 188,667 ​ 19,339 ​ 397 ​ 208,403 184,535 15,217 347 200,099 192,094 8,771 321 201,186 Total strong 640,766 ​ 61,268 ​ - ​ 702,034 631,419 54,828 - 686,247 636,564 27,825 - 664,389 Total good/ satisfactory 157,307 ​ 75,658 ​ - ​ 232,965 165,546 66,601 - 232,147 189,311 43,927 - 233,238 Total weak 2,398 ​ 17,177 ​ 8,230 ​ 27,805 2,332 15,633 7,593 25,558 2,646 16,455 8,209 27,310 Total loans and undrawn credit commitments 800,471 ​ 154,103 ​ 8,230 ​ 962,804 799,297 137,062 7,593 943,952 828,521 88,207 8,209 924,937

Deposits and other borrowings (

Deposits and other borrowings (Tables)	6 Months Ended
	Mar. 31, 2023
Deposits and other borrowings
Schedule of deposits and other borrowings	Deposits and other borrowings 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 ​ Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 ​ - Mar 22 Australia ​ ​ Certificates of deposit 32,227 30,507 27,048 6 19 Non-interest bearing, repayable at call 54,967 55,180 54,829 - - Other interest bearing at call 349,419 352,544 361,609 (1) (3) Other interest bearing term 140,704 127,921 104,865 10 34 Total Australia 577,317 566,152 548,351 2 5 New Zealand ​ ​ ​ ​ ​ Certificates of deposit 2,618 2,588 2,783 1 (6) Non-interest bearing, repayable at call 12,251 12,674 14,706 (3) (17) Other interest bearing at call 28,395 27,517 30,188 3 (6) Other interest bearing term 34,057 28,423 27,945 20 22 Total New Zealand 77,321 71,202 75,622 9 2 Other overseas ​ ​ ​ ​ ​ Certificates of deposit 13,922 13,200 14,903 5 (7) Non-interest bearing, repayable at call 1,340 1,178 1,008 14 33 Other interest bearing at call 2,047 1,883 1,696 9 21 Other interest bearing term 4,405 5,514 4,026 (20) 9 Total other overseas 21,714 21,775 21,633 - - Total deposits and other borrowings 676,352 659,129 645,606 3 5 ​ 1. Non-interest bearing relates to instruments which do not carry a rate of interest.

Fair values of financial asse_2

Fair values of financial assets and financial liabilities (Tables)	6 Months Ended
	Mar. 31, 2023
Fair values of financial assets and financial liabilities
Summary of the attribution of financial instruments measured at fair value to the fair value hierarchy	The following tables summarise the attribution of financial instruments measured at fair value to the fair value hierarchy. ​ ​ ​ ​ ​ ​ ​ ​ ​ $m Level 1 Level 2 Level 3 Total As at 31 March 2023 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Trading securities and financial assets measured at FVIS ​ 10,885 ​ 19,578 ​ 11 ​ 30,474 Derivative financial instruments ​ 17 ​ 20,317 ​ 12 ​ 20,346 Investment securities ​ 2,905 ​ 69,150 ​ 414 ​ 72,469 Loans ​ - ​ 106 ​ 24 ​ 130 Total financial assets measured at fair value on a recurring basis ​ 13,807 ​ 109,151 ​ 461 ​ 123,419 Financial liabilities measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings ​ - ​ 48,769 ​ - ​ 48,769 Other financial liabilities ​ 1,361 ​ 10,088 ​ - ​ 11,449 Derivative financial instruments ​ 12 ​ 20,725 ​ 54 ​ 20,791 Debt issues ​ - ​ 5,655 ​ - ​ 5,655 Total financial liabilities measured at fair value on a recurring basis ​ 1,373 ​ 85,237 ​ 54 ​ 86,664 ​ ​ Note 12. Fair values of financial assets and financial liabilities (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $m ​ Level 1 Level 2 Level 3 Total As at 30 September 2022 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Trading securities and financial assets measured at FVIS ​ 2,039 ​ 22,275 ​ 18 ​ 24,332 Derivative financial instruments ​ 68 ​ 41,202 ​ 13 ​ 41,283 Investment securities ​ 12,634 ​ 62,263 ​ 387 ​ 75,284 Loans ​ - ​ 45 ​ 27 ​ 72 Total financial assets measured at fair value on a recurring basis ​ 14,741 ​ 125,785 ​ 445 ​ 140,971 Financial liabilities measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings ​ - ​ 46,331 ​ - ​ 46,331 Other financial liabilities ​ 2,006 ​ 9,319 ​ - ​ 11,325 Derivative financial instruments ​ 51 ​ 39,494 ​ 23 ​ 39,568 Debt issues ​ - ​ 6,740 ​ - ​ 6,740 Total financial liabilities measured at fair value on a recurring basis ​ 2,057 ​ 101,884 ​ 23 ​ 103,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2022 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Trading securities and financial assets measured at FVIS ​ 5,474 ​ 18,260 ​ 4 ​ 23,738 Derivative financial instruments ​ 38 ​ 18,204 ​ 27 ​ 18,269 Investment securities ​ 11,838 ​ 57,287 ​ 439 ​ 69,564 Loans ​ - ​ 217 ​ 32 ​ 249 Assets held for sale ​ 1,057 ​ 1,422 ​ - ​ 2,479 Total financial assets measured at fair value on a recurring basis ​ 18,407 ​ 95,390 ​ 502 ​ 114,299 Financial liabilities measured at fair value on a recurring basis ​ ​ ​ ​ ​ ​ ​ ​ Deposits and other borrowings ​ - ​ 44,743 ​ - ​ 44,743 Other financial liabilities ​ 1,090 ​ 5,767 ​ - ​ 6,857 Derivative financial instruments ​ 26 ​ 25,288 ​ 33 ​ 25,347 Debt issues ​ - ​ 6,294 ​ - ​ 6,294 Liabilities held for sale ​ - ​ 414 ​ - ​ 414 Total financial liabilities measured at fair value on a recurring basis ​ 1,116 ​ 82,506 ​ 33 ​ 83,655 ​
Summary of changes in financial instruments measured at fair value on a recurring basis derived from non-market observable valuation techniques (Level 3)	The following table summarises the changes in financial instruments measured at fair value derived from non-market observable valuation techniques (Level 3). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 ​ ​ Trading ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ securities and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ measured at ​ Investment ​ ​ ​ Total Level 3 ​ ​ ​ Total Level 3 $m FVIS Securities Other 1 assets Derivatives liabilities Balance as at beginning of period ​ 18 ​ 387 ​ 40 ​ 445 ​ 23 ​ 23 Gains/(losses) on assets / (gains)/losses on liabilities recognised in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income statement ​ - ​ - ​ (4) ​ (4) ​ (2) ​ (2) Other comprehensive income ​ - ​ (32) ​ - ​ (32) ​ - ​ - Acquisitions and issues ​ 21 ​ 60 ​ 25 ​ 106 ​ 43 ​ 43 Disposals and settlements ​ - ​ (1) ​ (18) ​ (19) ​ (3) ​ (3) Transfer into or out of non-market observables ​ (29) ​ - ​ (8) ​ (37) ​ (7) ​ (7) Foreign currency translation impacts ​ 1 ​ - ​ 1 ​ 2 ​ - ​ - Balance as at end of period ​ 11 ​ 414 ​ 36 ​ 461 ​ 54 ​ 54 Unrealised gains/(losses) recognised in the income statement for financial instrument held as at end of period ​ - ​ - ​ 8 ​ 8 ​ (41) ​ (41) ​ 1. ​
Schedule of estimated fair value and fair value hierarchy of financial instruments not measured at fair value	The following table summarises the estimated fair value of financial instruments not measured at fair value for the Group. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2023 ​ As at 30 Sept 2022 ​ As at 31 March 2022 ​ ​ Carrying ​ Fair ​ Carrying ​ Fair ​ Carrying ​ Fair $m amount value amount value amount ​ value Financial assets not measured at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and balances with central banks ​ 117,886 ​ 117,886 105,257 105,257 102,410 ​ 102,410 Collateral paid ​ 4,093 ​ 4,093 6,216 6,216 7,374 ​ 7,374 Investment securities ​ 1,083 ​ 1,083 ​ 1,181 ​ 1,179 ​ 878 ​ 878 Loans ​ 749,801 ​ 744,302 739,575 732,511 719,307 ​ 716,281 Other financial assets ​ 7,343 ​ 7,343 ​ 5,626 ​ 5,626 ​ 4,896 ​ 4,896 Assets held for sale ​ - ​ - 20 20 26 ​ 26 Total financial assets not measured at fair value ​ 880,206 ​ 874,707 857,875 850,809 834,891 ​ 831,865 Financial liabilities not measured at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral received ​ 3,577 ​ 3,577 6,371 6,371 2,170 ​ 2,170 Deposits and other borrowings ​ 627,583 ​ 627,823 612,798 613,134 600,863 ​ 600,982 Other financial liabilities ​ 48,653 ​ 48,653 45,035 45,035 44,488 ​ 44,488 Debt issues 2 ​ 143,297 ​ 142,666 138,128 137,452 127,335 ​ 127,247 Loan capital 2 ​ 31,025 ​ 30,688 ​ 31,254 ​ 30,671 ​ 29,036 ​ 29,413 Liabilities held for sale ​ - ​ - 31 31 17 ​ 17 Total financial liabilities not measured at fair value ​ 854,135 ​ 853,407 833,617 832,694 803,909 ​ 804,317 ​ 2.

Provisions, contingent liabil_2

Provisions, contingent liabilities, contingent assets and credit commitments (Tables)	6 Months Ended
	Mar. 31, 2023
Provisions, contingent liabilities, contingent assets and credit commitments
Schedule of changes in provisions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 31 March 2023 ​ ​ ​ ​ Annual ​ ​ ​ ​ ​ ​ ​ ​ ​ Compliance, ​ ​ ​ ​ ​ ​ leave and ​ Litigation ​ Provision for ​ ​ ​ ​ ​ regulation ​ ​ ​ ​ Long ​ other ​ and non- ​ impairment ​ Lease ​ Restructuring ​ and ​ ​ ​ ​ service ​ employee ​ lending ​ on credit ​ restoration ​ and other ​ remediation ​ ​ $m leave benefits losses commitments obligations provisions provisions Total Balance as at beginning of period ​ 450 ​ 922 ​ 83 ​ 419 ​ 208 ​ 355 ​ 513 ​ 2,950 Additions ​ 45 ​ 575 ​ 12 ​ 29 ​ 1 ​ 65 ​ 59 ​ 786 Utilisation ​ (23) ​ (859) ​ (20) ​ - ​ (13) ​ (128) ​ (172) ​ (1,215) Reversal of unutilised provisions ​ - ​ - ​ (1) ​ (6) ​ - ​ (8) ​ (82) ​ (97) Balance as at end of period ​ 472 ​ 638 ​ 74 ​ 442 ​ 196 ​ 284 ​ 318 ​ 2,424 ​
Summary of undrawn credit commitments and maturity analysis	Undrawn credit commitments excluding derivatives are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ % Mov’t ​ ​ 31 March ​ 30 Sept ​ 31 March ​ Mar 23 ​ Mar 23 $m 2023 2022 2022 - Sept 22 - Mar 22 Undrawn credit commitments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Letters of credit and guarantees 1 ​ 11,936 ​ 11,868 ​ 11,716 ​ 1 ​ 2 Commitments to extend credit 2 ​ 195,765 ​ 188,183 ​ 189,415 ​ 4 ​ 3 Other ​ 702 ​ 48 ​ 55 ​ large ​ large Total undrawn credit commitments ​ 208,403 ​ 200,099 ​ 201,186 ​ 4 ​ 4 ​ 1. Standby letters of credit are undertakings to pay, against presentation documents, an obligation in the event of a default by a customer. Guarantees are unconditional undertakings given to support the obligations of a customer to third parties. The Group may hold cash as collateral for certain guarantees issued. 2. Commitments to extend credit include all obligations on the part of the Group to provide credit facilities. As facilities may expire without being drawn upon, the notional amounts do not necessarily reflect future cash requirements. In addition to the commitments disclosed above, as at March 2023, the Group had $ 7.4 billion of credit exposures that were offered and accepted but still revocable (September 2022: $8.6 billion; March 2022 $8.8 billion). These represent part of Westpac Group’s maximum exposure to credit risk.

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
	Mar. 31, 2023
Shareholders' equity
Summary of share capital by class	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at ​ As at ​ As at ​ ​ 31 March ​ 30 Sept ​ 31 March $m 2023 2022 2022 Share capital ​ ​ ​ ​ ​ ​ Ordinary share capital, fully paid ​ 39,824 ​ 39,666 ​ 39,667 Treasury shares 1 ​ (702) ​ (655) ​ (651) Total share capital ​ 39,122 ​ 39,011 ​ 39,016 NCI ​ 44 ​ 57 ​ 54 ​ 1. 31 March 2023: 5,396,087 unvested RSP treasury shares held (30 September 2022: 5,086,660 , 31 March 2022: 5,076,534 ). Reconciliation of movement in number of ordinary shares ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year ​ ​ March ​ Sept ​ March ​ 2023 2022 2022 Balance as at beginning of period ​ 3,501,127,694 ​ 3,501,127,694 ​ 3,668,591,808 Dividend reinvestment plan 2 ​ 7,949,266 ​ - ​ - Issued shares for the period ​ 7,949,266 ​ - ​ - Off-market share buy-back 3 ​ - ​ - ​ (167,464,114) Balance as at end of period ​ 3,509,076,960 ​ 3,501,127,694 ​ 3,501,127,694 ​ 2. The price per share for the issuance of shares in relation to the DRP for the 2022 final dividend was $23.86 . The DRP for the 2022 interim dividend (as well as 2021 final dividend) had no impact on the number of ordinary shares on issue as Westpac arranged for the purchase of the necessary shares from the market and transfer to participants of 9,971,443 ordinary shares (2021 final dividend: 10,286,188 ordinary shares) at an average price of $23.96 (2021 final dividend: $22.34 ). 3. On 14 February 2022, the Group announced the successful completion of its $3.5 billion off-market share buy-back of Westpac ordinary shares. 167,464,114 ordinary shares were bought back at $20.90 , and comprised a fully franked dividend component of $9.56 per share ($ 1,601 million) and a capital component of $11.34 per share ($ 1,902 million including transaction costs). The shares bought back were subsequently cancelled. Ordinary shares purchased on market ​ ​ ​ ​ ​ ​ ​ ​ Half Year March 2023 ​ ​ ​ ​ Average price Consolidated Number ($) For share-based payment arrangements: ​ ​ ​ ​ Employee share plan (ESP) ​ 1,156,722 ​ 23.79 RSP 4 ​ 2,061,377 ​ 23.40 Westpac Performance Plan (WPP) - share rights exercised ​ 170,226 ​ 22.81 Net number of ordinary shares purchased on market ​ 3,388,325 ​ ​ ​ 4. Ordinary shares allocated to employees under the RSP are classified as treasury shares until the shares vest.
Schedule of reconciliation of movement in reserves	​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year ​ ​ March ​ Sept ​ March $m ​ 2023 2022 2022 Debt securities at FVOCI reserve ​ ​ ​ Balance as at beginning of period 62 ​ 223 443 Net gains/(losses) from changes in fair value 13 ​ (187) (142) Income tax effect - ​ 50 38 Transferred to income statement (65) ​ (49) (205) Income tax effect 21 ​ 16 62 Loss allowance on debt securities measured at FVOCI ​ 1 ​ - ​ (2) Other (15) ​ 9 29 Balance as at end of period 17 ​ 62 223 Equity securities at FVOCI reserve ​ ​ ​ ​ Balance as at beginning of period 136 ​ 190 44 Net gains/(losses) from changes in fair value (34) ​ (54) 146 Income tax effect ​ 9 ​ - ​ - Balance as at end of period 111 ​ 136 190 Share-based payment reserve ​ ​ ​ ​ Balance as at beginning of period 1,893 ​ 1,866 1,806 Share-based payment expense 58 ​ 27 60 Balance as at end of period 1,951 ​ 1,893 1,866 Cash flow hedge reserve ​ ​ ​ ​ Balance as at beginning of period 813 ​ 1,049 196 Net gains/(losses) from changes in fair value 522 ​ 82 1,222 Income tax effect (156) ​ (21) (362) Transferred to income statement (418) ​ (424) (10) Income tax effect 124 ​ 127 3 Balance as at end of period 885 ​ 813 1,049 Foreign currency translation reserve ​ ​ ​ ​ Balance as at beginning of period (505) ​ (407) (241) Exchange differences on translation of foreign operations 553 ​ (133) (367) Gains/(losses) on net investment hedges (175) ​ 35 201 Balance as at end of period (127) ​ (505) (407) Other reserves ​ ​ ​ ​ Balance as at beginning of period (21) ​ (20) (21) Transactions with owners - ​ (1) 1 Balance as at end of period (21) ​ (21) (20) Total reserves 2,816 ​ 2,378 2,901

Notes to the consolidated cas_2

Notes to the consolidated cash flow statement (Tables)	6 Months Ended
	Mar. 31, 2023
Notes to the consolidated cash flow statements
Summary of reconciliation of net cash provided by/(used in) operating activities to net profit for the year	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year Half Year Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 ​ Mar 23 $m ​ 2023 2022 2022 ​ - Sept 22 ​ - Mar 22 Profit after income tax expense ​ 4,005 ​ 2,415 ​ 3,284 ​ 66 ​ 22 Adjustments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation, amortisation and impairment ​ 536 ​ 776 ​ 805 ​ (31) ​ (33) Impairment charges/(benefits) ​ 518 ​ 283 ​ 241 ​ 83 ​ 115 Net decrease/(increase) in current and deferred tax ​ 256 ​ 326 ​ 101 ​ (21) ​ 153 (Increase)/decrease in accrued interest receivable ​ (558) ​ (485) ​ (59) ​ 15 ​ large (Decrease)/increase in accrued interest payable ​ 1,350 ​ 769 ​ 25 ​ 76 ​ large (Decrease)/increase in provisions ​ (526) ​ (85) ​ (536) ​ large ​ (2) Other non-cash items ​ 413 ​ 2,038 ​ (169) ​ (80) ​ large Cash flows from operating activities before changes in operating assets and liabilities ​ 5,994 ​ 6,037 ​ 3,692 ​ (1) ​ 62 Net (increase)/decrease in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral paid ​ 1,898 ​ 1,769 ​ (3,293) ​ 7 ​ large Trading securities and financial assets measured at FVIS ​ (4,967) ​ (1,644) ​ (2,106) ​ large ​ 136 Derivative financial instruments ​ (165) ​ (553) ​ 3,004 ​ (70) ​ large Loans ​ (5,074) ​ (23,709) ​ (12,636) ​ (79) ​ (60) Other financial assets ​ (148) ​ (447) ​ 726 ​ (67) ​ large Life insurance assets and liabilities ​ - ​ 133 ​ 133 ​ (100) ​ (100) Other assets ​ 26 ​ 37 ​ (17) ​ (30) ​ large Net increase/(decrease) in: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral received ​ (2,781) ​ 3,827 ​ (184) ​ large ​ large Deposits and other borrowings ​ 13,464 ​ 13,296 ​ 21,758 ​ 1 ​ (38) Other financial liabilities ​ (328) ​ 5,738 ​ 1,382 ​ large ​ large Other liabilities ​ (4) ​ 8 ​ 3 ​ large ​ large Net cash provided by/(used in) operating activities ​ 7,915 ​ 4,492 ​ 12,462 ​ 76 ​ (36) ​
Summary of the assets and liabilities over which control ceased	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year ​ ​ March ​ Sept ​ March $m 2023 2022 2022 Assets: Cash and balances with central banks 18 169 - Loans - - 965 Other financial assets 18 54 12 Life insurance assets ​ - ​ 2,180 ​ 186 Deferred tax assets - 39 - Intangible assets 55 - - Other assets - 156 12 Total assets 91 2,598 1,175 Liabilities: Other financial liabilities 22 32 2 Current tax liabilities ​ - ​ - ​ 2 Life insurance liabilities ​ - ​ 300 ​ (115) Provisions 1 48 4 Deferred tax liabilities ​ - ​ - ​ 34 Other liabilities - 177 36 Total liabilities 23 557 (37) Total equity attributable to owners of WBC 68 2,041 1,212 Cash proceeds received (net of transaction costs) 311 896 1,388 Expected receivable (completion settlement)/deferred consideration - 33 113 Total consideration 311 929 1,501 Gain/(loss) on disposal 243 (1,112) 289 Reconciliation of cash proceeds from disposal: Cash proceeds received (net of transaction costs) 311 896 1,388 Less: Cash deconsolidated (18) (169) - Cash consideration received (net of transaction costs and cash held) 293 727 1,388 ​
Schedule of non-cash financing activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Half Year ​ Half Year ​ Half Year % Mov’t ​ ​ March ​ Sept ​ March ​ Mar 23 ​ Mar 23 $m ​ 2023 ​ 2022 ​ 2022 ​ - Sept 22 ​ - Mar 22 Shares issued under the dividend reinvestment plan 190 - - - - Increase in lease liabilities 158 146 98 8 61 ​

Assets and liabilities held f_2

Assets and liabilities held for sale (Tables)	6 Months Ended
	Mar. 31, 2023
Assets and liabilities held for sale
Schedule of assets and liabilities that have been presented as held for sale	Details of the assets and liabilities held for sale are as follows: ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at ​ ​ 31 March 30 Sept ​ 31 March $m ​ 2023 2022 ​ 2022 Assets held for sale ​ ​ ​ ​ Cash and balances with central banks - ​ - ​ 8 Other financial assets - ​ 20 ​ 18 Life insurance assets ​ - ​ - ​ 2,479 Deferred tax assets ​ - ​ - ​ 43 Intangible assets - ​ 55 ​ - Other assets - ​ - ​ 152 Total assets held for sale ​ - ​ 75 ​ 2,700 Liabilities held for sale ​ ​ ​ ​ ​ Other financial liabilities - ​ 31 ​ 17 Life insurance liabilities ​ - ​ - ​ 414 Provisions - ​ 1 ​ 65 Deferred tax liabilities ​ - ​ - ​ 3 Other liabilities - ​ - ​ 185 Total liabilities held for sale - ​ 32 ​ 684

Segment reporting - Narrative (

Segment reporting - Narrative (Details) $ in Millions	35 Months Ended
	Mar. 31, 2023 AUD ($) item
Business
Segment reporting
Maximum exposure | $	$ 200
Specialist Businesses
Segment reporting
Cumulative number of businesses sold | item	9

Segment reporting - Segment res

Segment reporting - Segment results (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Income Statement
Net interest income	$ 9,113	$ 8,873	$ 8,288
Net fee income	827	826	845
Net wealth management and insurance	347	407	401
Trading income	387	321	343
Other income	329	(1,051)	353
Net operating income	11,003	9,376	10,230
Operating expenses	(4,988)	(5,429)	(5,373)
Total operating expenses	(4,988)	(5,429)	(5,373)
Pre-provision profit	6,015	3,947	4,857
Impairment (charges)/benefits	(390)	(196)	(139)
Profit before income tax expense	5,625	3,751	4,718
Income tax (expense)/benefit	(1,620)	(1,336)	(1,434)
Net profit attributable to NCI	(4)	(1)	(4)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	4,001	2,414	3,280
Notable items (post tax)	178	(1,053)	179
Balance sheet
Loans	749,931	739,647	719,556
Deposits and other borrowings	676,352	659,129	645,606
Addition (Reduction) to Income tax attributable to notable items	(46)	(135)	89
Specialist Businesses
Balance sheet
Impairment of assets, including goodwill and other intangible assets	0	0	167
Group Businesses
Balance sheet
Impairment of assets, including goodwill and other intangible assets	0	159	7
Operating segments | Total
Income Statement
Net interest income	9,202	8,585	8,021
Net fee income	827	827	845
Net wealth management and insurance	347	415	444
Trading income	409	281	339
Other income	86	66	82
Notable items	132	(798)	499
Net operating income	11,003	9,376	10,230
Operating expenses	(4,988)	(5,039)	(5,142)
Notable items		(390)	(231)
Total operating expenses	(4,988)	(5,429)	(5,373)
Pre-provision profit	6,015	3,947	4,857
Impairment (charges)/benefits	(390)	(196)	(139)
Profit before income tax expense	5,625	3,751	4,718
Income tax (expense)/benefit	(1,620)	(1,336)	(1,434)
Net profit attributable to NCI	(4)	(1)	(4)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	4,001	2,414	3,280
Notable items (post tax)	178	(1,053)	179
Balance sheet
Loans	749,931	739,647	719,556
Deposits and other borrowings	676,352	659,129	645,606
Operating segments | Consumer and Business Banking
Income Statement
Net interest income	6,736	6,312	5,700
Net fee income	429	413	427
Net wealth management and insurance	22	25	26
Other income	11	17	36
Net operating income	7,198	6,767	6,189
Operating expenses	(3,215)	(3,169)	(3,353)
Notable items		(66)
Total operating expenses	(3,215)	(3,235)	(3,353)
Pre-provision profit	3,983	3,532	2,836
Impairment (charges)/benefits	(248)	(213)	(131)
Profit before income tax expense	3,735	3,319	2,705
Income tax (expense)/benefit	(1,121)	(995)	(820)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	2,614	2,324	1,885
Notable items (post tax)		(47)
Balance sheet
Loans	565,329	559,501	546,646
Deposits and other borrowings	427,007	413,909	410,877
Operating segments | Consumer
Income Statement
Net interest income	4,693	4,608	4,377
Net fee income	266	248	265
Net wealth management and insurance	22	25	26
Other income	9	15	33
Net operating income	4,990	4,896	4,701
Operating expenses	(2,301)	(2,254)	(2,369)
Notable items		(66)
Total operating expenses	(2,301)	(2,320)	(2,369)
Pre-provision profit	2,689	2,576	2,332
Impairment (charges)/benefits	(170)	(228)	27
Profit before income tax expense	2,519	2,348	2,359
Income tax (expense)/benefit	(756)	(703)	(713)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	1,763	1,645	1,646
Notable items (post tax)		(47)
Balance sheet
Loans	479,761	474,604	465,697
Deposits and other borrowings	293,565	280,574	276,161
Operating segments | Business
Income Statement
Net interest income	2,043	1,704	1,323
Net fee income	163	165	162
Other income	2	2	3
Net operating income	2,208	1,871	1,488
Operating expenses	(914)	(915)	(984)
Total operating expenses	(914)	(915)	(984)
Pre-provision profit	1,294	956	504
Impairment (charges)/benefits	(78)	15	(158)
Profit before income tax expense	1,216	971	346
Income tax (expense)/benefit	(365)	(292)	(107)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	851	679	239
Balance sheet
Loans	85,568	84,897	80,949
Deposits and other borrowings	133,442	133,335	134,716
Operating segments | Westpac Institutional Bank
Income Statement
Net interest income	712	629	481
Net fee income	296	303	302
Trading income	375	249	267
Other income	33	2	23
Net operating income	1,416	1,183	1,073
Operating expenses	(617)	(607)	(581)
Total operating expenses	(617)	(607)	(581)
Pre-provision profit	799	576	492
Impairment (charges)/benefits	4	(27)	(58)
Profit before income tax expense	803	549	434
Income tax (expense)/benefit	(229)	(168)	(128)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	574	381	306
Balance sheet
Loans	84,697	85,182	73,950
Deposits and other borrowings	112,662	116,552	104,661
Operating segments | Westpac New Zealand
Income Statement
Net interest income	1,145	1,073	1,034
Net fee income	82	99	86
Net wealth management and insurance	17	15	39
Trading income	18	18	25
Other income	(1)	(4)	1
Notable items		(12)	132
Net operating income	1,261	1,189	1,317
Operating expenses	(574)	(538)	(534)
Total operating expenses	(574)	(538)	(534)
Pre-provision profit	687	651	783
Impairment (charges)/benefits	(142)	16	9
Profit before income tax expense	545	667	792
Income tax (expense)/benefit	(154)	(192)	(190)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	391	475	602
Notable items (post tax)		(10)	129
Balance sheet
Loans	91,943	85,285	87,361
Deposits and other borrowings	77,321	71,202	75,622
Operating segments | Specialist Businesses
Income Statement
Net interest income	216	232	242
Net fee income	22	17	29
Net wealth management and insurance	308	375	379
Trading income	22	21	20
Other income	41	5	14
Notable items	243	(1,120)	109
Net operating income	852	(470)	793
Operating expenses	(280)	(313)	(370)
Notable items		(150)	(215)
Total operating expenses	(280)	(463)	(585)
Pre-provision profit	572	(933)	208
Impairment (charges)/benefits	(2)	29	38
Profit before income tax expense	570	(904)	246
Income tax (expense)/benefit	(73)	50	(111)
Net profit attributable to NCI	(4)	(1)	(3)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	493	(855)	132
Notable items (post tax)	256	(1,112)	(114)
Balance sheet
Loans	8,086	9,866	11,730
Deposits and other borrowings	10,046	9,457	8,362
Operating segments | Group Businesses
Income Statement
Net interest income	393	339	564
Net fee income	(2)	(5)	1
Trading income	(6)	(7)	27
Other income	2	46	8
Notable items	(111)	334	258
Net operating income	276	707	858
Operating expenses	(302)	(412)	(304)
Notable items		(174)	(16)
Total operating expenses	(302)	(586)	(320)
Pre-provision profit	(26)	121	538
Impairment (charges)/benefits	(2)	(1)	3
Profit before income tax expense	(28)	120	541
Income tax (expense)/benefit	(43)	(31)	(185)
Net profit attributable to NCI			(1)
Net profit attributable to owners of Westpac Banking Corporation (WBC)	(71)	89	355
Notable items (post tax)	(78)	116	164
Balance sheet
Loans	(124)	(187)	(131)
Deposits and other borrowings	49,316	48,009	46,084
Notable Items (pre-tax)
Income Statement
Net interest income	(89)	288	267
Net fee income		(1)
Net wealth management and insurance		(8)	(43)
Trading income	(22)	40	4
Other income	243	(1,117)	271
Notable items	$ (132)	798	(499)
Operating expenses		(390)	(231)
Notable items		$ 390	$ 231

Segment reporting - Notable Ite

Segment reporting - Notable Items after tax (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Segment reporting
Economic hedges	$ (121)	$ 266	$ 204
Hedge ineffectiveness	$ 43	(33)	(19)
Provision for litigation, fines and penalties		(68)	(65)
Provisions for litigation, fines and penalties, percentage movement from prior period	(100.00%)
Provisions for litigation, fines and penalties, percentage movement from same period in prior year	(100.00%)
Asset sales and revaluations	$ 256	(1,089)	213
Asset sales and revaluations, percentage movement from same period in prior year	20%
The write-down of assets		(129)	(154)
The write-down of assets, percentage movement from prior period	(100.00%)
The write-down of assets, percentage movement from same period in prior year	(100.00%)
Total notable items after tax	$ 178	$ (1,053)	$ 179
Total notable items after tax, percentage movement from same period in prior year	(1.00%)

Net Interest Income and Avera_3

Net Interest Income and Average Balance Sheet and Interest Rates - Net interest income (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Calculated using the effective interest rate method
Cash and balances with central banks	$ 1,806	$ 637	$ 46
Cash and balances with central banks, percentage movement from prior period	184%
Collateral paid	$ 269	64	4
Investment securities	$ 918	620	506
Investment securities, percentage movement from prior period	48%
Investment securities, percentage movement from same period in prior year	81%
Loans	$ 16,276	11,549	9,547
Loans, percentage movement from prior period	41%
Loans, percentage movement from same period in prior year	70%
Other financial assets	$ 10	2
Assets held for sale			6
Assets held for sale, percentage movement from same period in prior year	(100.00%)
Total interest income calculated using the effective interest rate method	$ 19,279	12,872	10,109
Total interest income calculated using the effective interest rate method, percentage movement from prior period	50%
Total interest income calculated using the effective interest rate method, percentage movement from same period in prior year	91%
Other
Net ineffectiveness on qualifying hedges	$ 62	(50)	(27)
Trading securities and financial assets measured at FVIS	$ 498	224	123
Trading securities and financial assets measured at FVIS, percentage movement from prior period	122%
Total other	$ 560	174	96
Total interest income	$ 19,839	13,046	10,205
Interest income, percentage movement from prior period	52%
Interest income, percentage movement from same period of prior year	94%
Calculated using the effective interest rate method
Collateral received	$ (142)	(60)	(4)
Collateral received, percentage movement from prior period	137%
Deposits and other borrowings	$ (6,151)	(2,098)	(712)
Deposits and other borrowings, percentage movement from prior period	193%
Debt issues	$ (2,268)	(1,406)	(851)
Debt issues, percentage movement from prior period	61%
Debt issues, percentage movement from same period in prior year	167%
Loan capital	$ (620)	(586)	(440)
Loan capital, percentage movement from prior period	6%
Loan capital, percentage movement from same period in prior year	41%
Other financial liabilities	$ (234)	(117)	(45)
Other financial liabilities, percentage movement from prior period	100%
Total interest expense calculated using the effective interest rate method	$ (9,415)	(4,267)	(2,052)
Interest expense, percentage movement from prior period	121%
Other
Deposits and other borrowings	$ (801)	(350)	(49)
Deposits and other borrowings, percentage movement from prior period	129%
Trading liabilities	$ (188)	717	452
Debt issues	$ (116)	(62)	(31)
Debt issues, percentage movement from prior period	87%
Bank levy	$ (164)	(163)	(177)
Bank levy, percentage movement from prior period	1%
Bank levy, percentage movement from same period in prior year	(7.00%)
Other interest expense	$ (42)	(48)	(60)
Other interest expense, percentage movement from prior period	(13.00%)
Other interest expense, percentage movement from same period in prior year	(30.00%)
Total other	$ (1,311)	94	135
Total interest expense	$ (10,726)	(4,173)	(1,917)
Interest expense, percentage movement from prior period	157%
Net interest income	$ 9,113	8,873	8,288
Net interest income, percentage movement from prior period	3%
Net interest income, percentage movement from same period of prior year	10%
Addition to interest income related to compliance, regulation and remediation costs	$ 9		$ 9
Reduction in interest income related to compliance, regulation and remediation costs		$ 8

Net Interest Income and Avera_4

Net Interest Income and Average Balance Sheet and Interest Rates - Average balance sheet and interest rates - Assets (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Interest earning assets
Average balance	$ 934,208	$ 901,786	$ 872,075
Interest income	$ 19,839	$ 13,046	$ 10,205
Average rate %	4.30%	2.90%	2.30%
Non-interest earning assets
Average balance	$ 83,715	$ 89,814	$ 85,758
Total assets
Average balance	1,017,923	991,600	957,833
Loans
Interest earning assets
Average balance	699,735	683,786	669,815
Interest income	$ 16,276	$ 11,549	$ 9,547
Average rate %	4.70%	3.40%	2.90%
Loans | Australia
Interest earning assets
Average balance	$ 602,493	$ 590,428	$ 574,439
Interest income	$ 13,791	$ 9,679	$ 8,015
Average rate %	4.60%	3.30%	2.80%
Loans | New Zealand
Interest earning assets
Average balance	$ 90,605	$ 86,989	$ 89,021
Interest income	$ 2,304	$ 1,755	$ 1,448
Average rate %	5.10%	4%	3.30%
Loans | Other overseas
Interest earning assets
Average balance	$ 6,637	$ 6,369	$ 6,355
Interest income	$ 181	$ 115	$ 84
Average rate %	5.50%	3.60%	2.70%
Loans | Housing
Interest earning assets
Average balance	$ 481,538	$ 472,098	$ 468,207
Interest income	$ 10,174	$ 7,349	$ 6,317
Average rate %	4.20%	3.10%	2.70%
Loans | Personal
Interest earning assets
Average balance	$ 13,485	$ 14,471	$ 15,618
Interest income	$ 556	$ 582	$ 618
Average rate %	8.30%	8%	7.90%
Loans | Business
Interest earning assets
Average balance	$ 204,712	$ 197,217	$ 185,990
Interest income	$ 5,546	$ 3,618	$ 2,612
Average rate %	5.40%	3.70%	2.80%
Trading securities and financial assets measured at FVIS
Interest earning assets
Average balance	$ 29,044	$ 23,426	$ 22,243
Interest income	$ 498	$ 224	$ 123
Average rate %	3.40%	1.90%	1.10%
Investment securities
Interest earning assets
Average balance	$ 76,015	$ 77,783	$ 77,779
Interest income	$ 918	$ 620	$ 506
Average rate %	2.40%	1.60%	1.30%
Other interest earning assets
Interest earning assets
Average balance	$ 129,414	$ 116,786	$ 101,392
Interest income	$ 2,147	$ 653	23
Average rate %	3.30%	1.10%
Derivative financial instruments
Non-interest earning assets
Average balance	$ 25,290	$ 28,479	18,283
Assets held for sale
Interest earning assets
Average balance		5	846
Interest income			$ 6
Average rate %			1.40%
Non-interest earning assets
Average balance	60	1,843	$ 3,048
All other assets
Non-interest earning assets
Average balance	$ 58,365	$ 59,492	$ 64,427

Net Interest Income and Avera_5

Net Interest Income and Average Balance Sheet and Interest Rates - Average balance sheet and interest rates - Liabilities and equity (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Interest bearing liabilities and interest expense
Average balance	$ 849,429	$ 818,902	$ 786,393
Interest expense	$ 10,726	$ 4,173	$ 1,917
Average rate %	2.50%	1%	0.50%
Non-interest bearing liabilities
Average balance	$ 97,500	$ 103,178	$ 100,310
Total liabilities
Average balance	946,929	922,080	886,703
Shareholders' equity
Average balance	70,947	69,467	71,073
NCI
Average balance	47	53	57
Total equity
Average balance	70,994	69,520	71,130
Total liabilities and equity
Average balance	1,017,923	991,600	957,833
Deposits and other borrowings
Interest bearing liabilities and interest expense
Average balance	599,545	581,038	570,842
Interest expense	$ 6,952	$ 2,448	$ 761
Average rate %	2.30%	0.80%	0.30%
Non-interest bearing liabilities
Average balance	$ 68,678	$ 69,082	$ 69,413
Deposits and other borrowings | Australia
Interest bearing liabilities and interest expense
Average balance	516,397	498,319	489,642
Interest expense	$ 5,547	$ 1,760	$ 489
Average rate %	2.20%	0.70%	0.20%
Deposits and other borrowings | New Zealand
Interest bearing liabilities and interest expense
Average balance	$ 63,422	$ 60,312	$ 61,263
Interest expense	$ 1,017	$ 522	$ 243
Average rate %	3.20%	1.70%	0.80%
Deposits and other borrowings | Other overseas
Interest bearing liabilities and interest expense
Average balance	$ 19,726	$ 22,407	$ 19,937
Interest expense	$ 388	$ 166	$ 29
Average rate %	3.90%	1.50%	0.30%
Deposits and other borrowings | Certificates of deposit
Interest bearing liabilities and interest expense
Average balance	$ 45,447	$ 48,068	$ 46,544
Interest expense	$ 799	$ 347	$ 48
Average rate %	3.50%	1.40%	0.20%
Deposits and other borrowings | At call
Interest bearing liabilities and interest expense
Average balance	$ 386,455	$ 389,417	$ 391,719
Interest expense	$ 3,520	$ 1,158	$ 342
Average rate %	1.80%	0.60%	0.20%
Deposits and other borrowings | Term
Interest bearing liabilities and interest expense
Average balance	$ 167,643	$ 143,553	$ 132,579
Interest expense	$ 2,633	$ 943	$ 371
Average rate %	3.10%	1.30%	0.60%
Repurchase agreements
Interest bearing liabilities and interest expense
Average balance	$ 41,310	$ 39,807	$ 35,740
Interest expense	$ 228	$ 112	$ 38
Average rate %	1.10%	0.60%	0.20%
Loan capital
Interest bearing liabilities and interest expense
Average balance	$ 33,649	$ 30,910	$ 30,504
Interest expense	$ 620	$ 586	$ 440
Average rate %	3.70%	3.80%	2.90%
Other interest bearing liabilities
Interest bearing liabilities and interest expense
Average balance	$ 174,925	$ 167,147	$ 149,307
Interest expense	$ 2,926	$ 1,027	$ 678
Average rate %	3.40%	1.20%	0.90%
Derivative financial instruments
Non-interest bearing liabilities
Average balance	$ 29,765	$ 30,434	$ 19,035
Liabilities held for sale
Non-interest bearing liabilities
Average balance	26	590	775
All other liabilities
Non-interest bearing liabilities
Average balance	$ (969)	$ 3,072	$ 11,087

Non-interest income (Details)

Non-interest income (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Net fee income
Facility fees	$ 338	$ 342	$ 344
Facility fees, percentage movement from prior period	(1.00%)
Facility fees, percentage movement from same period in prior year	(2.00%)
Transactions fees	$ 589	576	556
Transactions fees, percentage movement from prior period	2%
Transactions fees, percentage movement from same period in prior year	6%
Other non-risk fee income	$ 68	50	72
Other non-risk fee income, percentage movement from prior period	36%
Other non-risk fee income percentage movement from same period in prior year	(6.00%)
Fee income	$ 995	968	972
Fee income, percentage movement from prior period	3%
Fee income, percentage movement from same period in prior year	2%
Credit card loyalty programs	$ (81)	(66)	(60)
Credit card loyalty programs, percentage movement from prior period	23%
Credit card loyalty programs, percentage movement from same period in prior year	35%
Transaction fee related expenses	$ (87)	(76)	(67)
Transaction fee related expenses, percentage movement from prior period	14%
Transaction fee related expenses, percentage movement from same period in prior year	30%
Fee expenses	$ (168)	(142)	(127)
Fee expenses, percentage movement from prior period	18%
Fee expenses, percentage movement from same period in prior year	32%
Net fee income	$ 827	826	845
Net fees, percentage movement from same period of prior year	(2.00%)
Net wealth management and insurance income
Wealth management income	$ 347	365	361
Wealth management income, percentage movement from prior period	(5.00%)
Wealth management income, percentage movement from same period in prior year	(4.00%)
Life insurance premium income		314	520
Life insurance premium income, percentage movement from prior period	(100.00%)
Life insurance premium income, percentage movement from same period in prior year	(100.00%)
Life insurance investment and other income		(12)	(129)
Life insurance investment and other income, percentage movement from prior period	(100.00%)
Life insurance investment and other income, percentage movement from same period in prior year	(100.00%)
Total insurance premium, investment and other income		302	391
Total insurance premium, investment and other income, percentage movement from prior period	(100.00%)
Total insurance premium, investment and other income, percentage movement from same period in prior year	(100.00%)
Life insurance claims, changes in life insurance liabilities and other expenses		(260)	(351)
Life insurance claims, changes in life insurance liabilities and other expenses, percentage movement from prior period	(100.00%)
Life insurance claims, changes in life insurance liabilities and other expenses, percentage movement from same period in prior year	(100.00%)
Total insurance claims, changes in insurance liabilities and other expenses		(260)	(351)
Total insurance claims, changes in insurance liabilities and other expenses, percentage movement from prior period	(100.00%)
Total insurance claims, changes in insurance liabilities and other expenses, percentage movement from same period in prior year	(100.00%)
Net wealth management and insurance income	$ 347	407	401
Net wealth management and insurance, percentage movement from prior period	(15.00%)
Net wealth management and insurance, percentage movement from same period of prior year	(13.00%)
Trading	$ 387	321	343
Trading, percentage movement from prior period	21%
Trading, percentage movement from same period in prior year	13%
Other
Dividends received from other entities		1	3
Dividends received from other entities, percentage movement from prior period	(100.00%)
Dividends received from other entities, percentage movement from same period in prior year	(100.00%)
Net gain/(loss) on sale/derecognition of associates	$ 1	12	13
Net gain/(loss) on sale/derecognition of associates, percentage movement from prior period	(92.00%)
Net gain/(loss) on sale/derecognition of associates, percentage movement from same period in prior year	(92.00%)
Net gain/(loss) on disposal of assets		(1)	(2)
Net gain/(loss) on disposal of assets, percentage movement from prior period	(100.00%)
Net gain/(loss) on disposal of assets, percentage movement from same period in prior year	(100.00%)
Net gain/(loss) on hedging of overseas operations		1	(1)
Net gain/(loss) on hedging of overseas operations, percentage movement from prior period	(100.00%)
Net gain/(loss) on hedging of overseas operations, percentage movement from same period in prior year	(100.00%)
Net gain/(loss) on derivatives held for risk management purposes		2	7
Net gain/(loss) on derivatives held for risk management purposes, percentage movement from prior period	(100.00%)
Net gain/(loss) on derivatives held for risk management purposes, percentage movement from same period in prior year	(100.00%)
Net gain/(loss) on financial instruments measured at fair value	$ 29	(4)	16
Net gain/(loss) on financial instruments measured at fair value, percentage movement from same period in prior year	81%
Net gain/(loss) on disposal of controlled entities and other businesses	$ 268	(1,112)	289
Net gain/(loss) on disposal of controlled entities, percentage movement from same period in prior year	(7.00%)
Rental income on operating leases	$ 5	7	9
Rental income on operating leases, percentage movement from prior period	(29.00%)
Rental income on operating leases, percentage movement from same period in prior year	(44.00%)
Share of associates' net profit/(loss)	$ (3)	(4)	(3)
Share of associates' net profit/(loss), percentage movement from prior period	(25.00%)
Other	$ 29	47	22
Other, percentage movement from prior period	(38.00%)
Other, percentage movement from same period in prior year	32%
Total other income	$ 329	(1,051)	353
Total other income, percentage movement from same period of prior year	(7.00%)
Total non-interest income	$ 1,890	503	1,942
Total non-interest income, percentage movement from same period in prior year	(3.00%)
Compliance, regulation and remediation costs recognised as an addition to non-risk fee income, wealth management income and other income	$ 8
Compliance, regulation and remediation costs recognised as a reduction of non-risk fee income, wealth management income and other income		56	8
Advance Asset Management Limited
Other
Net gain/(loss) on disposal of controlled entities and other businesses	$ 243
Australian life insurance business
Other
Net gain/(loss) on disposal of controlled entities and other businesses		$ (1,112)
Auto finance
Other
Net gain/(loss) on disposal of controlled entities and other businesses			170
NZ life insurance
Other
Net gain/(loss) on disposal of controlled entities and other businesses			$ 119

Operating expenses (Details)

Operating expenses (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Staff expenses
Employee remuneration, entitlements and on-costs	$ 2,545	$ 2,527	$ 2,584
Employee remuneration, entitlements and on-costs, percentage movement from prior period	1%
Employee remuneration, entitlements and on-costs, percentage movement from same period in prior year	(2.00%)
Superannuation expense	$ 270	255	278
Superannuation expense, percentage movement from prior period	6%
Superannuation expense, percentage movement from same period in prior year	(3.00%)
Share-based payments	$ 44	42	46
Share-based payments, percentage movement from prior period	5%
Share-based payments, percentage movement from same period in prior year	(4.00%)
Restructuring costs	$ 33	60	74
Restructuring costs, percentage movement from prior period	(45.00%)
Restructuring costs, percentage movement from same period in prior year	(55.00%)
Total staff expenses	$ 2,892	2,884	2,982
Total staff expenses, percentage movement from same period in prior year	(3.00%)
Occupancy expenses
Operating lease rentals	$ 81	91	79
Operating lease rentals, percentage movement from prior period	(11.00%)
Operating lease rentals, percentage movement from same period in prior year	3%
Depreciation and impairment of property and equipment	$ 227	365	261
Depreciation and impairment of property and equipment, percentage movement from prior period	(38.00%)
Depreciation and impairment of property and equipment, percentage movement from same period in prior year	(13.00%)
Other	$ 64	60	58
Other, percentage movement from prior period	7%
Other, percentage movement from same period in prior year	10%
Total occupancy expenses	$ 372	516	398
Total occupancy expenses, percentage movement from prior period	(28.00%)
Total occupancy expenses, percentage movement from same period in prior year	(7.00%)
Technology expenses
Amortisation and impairment of software assets	$ 250	318	337
Amortisation and impairment of software assets, percentage movement from prior period	(21.00%)
Amortisation and impairment of software assets, percentage movement from same period in prior year	(26.00%)
Depreciation and impairment of IT equipment	$ 58	92	85
Depreciation and impairment of IT equipment, percentage movement from prior period	(37.00%)
Depreciation and impairment of IT equipment, percentage movement from same period in prior year	(32.00%)
Technology services	$ 352	377	342
Technology services, percentage movement from prior period	(7.00%)
Technology services, percentage movement from same period in prior year	3%
Software maintenance and licences	$ 296	258	248
Software maintenance and licences, percentage movement from prior period	15%
Software maintenance and licences, percentage movement from same period in prior year	19%
Telecommunications	$ 59	72	72
Telecommunications, percentage movement from prior period	(18.00%)
Telecommunications, percentage movement from same period in prior year	(18.00%)
Data processing	$ 39	40	41
Data processing, percentage movement from prior period	(3.00%)
Data processing, percentage movement from same period in prior year	(5.00%)
Total technology expenses	$ 1,054	1,157	1,125
Total technology expenses, percentage movement from prior period	(9.00%)
Total technology expenses, percentage movement from same period in prior year	(6.00%)
Other expenses
Professional and processing services	$ 413	554	460
Professional and processing services, percentage movement from prior period	(25.00%)
Professional and processing services, percentage movement from same period in prior year	(10.00%)
Amortisation and impairment of other intangible assets and deferred expenditure	$ 1	1	122
Amortisation and impairment of other intangible assets and deferred expenditure, percentage movement from same period in prior year	(99.00%)
Postage and stationery	$ 67	70	74
Postage and stationery, percentage movement from prior period	(4.00%)
Postage and stationery, percentage movement from same period in prior year	(9.00%)
Advertising	$ 79	77	81
Advertising, percentage movement from prior period	3%
Advertising, percentage movement from same period in prior year	(2.00%)
Non-lending losses	$ 1	59	45
Non-lending losses, percentage movement from prior period	(98.00%)
Non-lending losses, percentage movement from same period in prior year	(98.00%)
Other expenses	$ 109	111	86
Other expenses, percentage movement from prior period	(2.00%)
Other expenses, percentage movement from same period in prior year	27%
Total other expenses	$ 670	872	868
Total other expenses, percentage movement from prior period	(23.00%)
Total other expenses, percentage movement from same period in prior year	(23.00%)
Total operating expenses	$ 4,988	5,429	5,373
Total operating expenses, percentage movement from prior period	(8.00%)
Total operating expenses, percentage movement from same period of prior year	(7.00%)
Addition (Reduction) to compliance, regulation and remediation costs	$ (6)	46	17
Impairment	$ 0
Capitalised software assets
Other expenses
Impairment		56	54
Goodwill and other intangible assets
Other expenses
Impairment		0	122
Property and equipment
Other expenses
Impairment		$ 116	$ 1

Income tax (Details)

Income tax (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Income tax expense reconciled to profit before income tax
Profit before income tax	$ 5,625	$ 3,751	$ 4,718
Profit before income tax, percentage movement from prior period	50%
Profit before income tax, percentage movement from same period in prior year	19%
Tax at the Australian company tax rate of 30%	$ 1,688	1,126	1,415
Australian company tax rate (as a percent)	30%
Tax at the Australian company tax rate of 30%, percentage movement from prior period	50%
Tax at the Australian company tax rate of 30%, percentage movement from same period in prior year	19%
The effect of amounts which are not deductible/(assessable) in calculating taxable income
Hybrid capital distributions	$ 54	39	28
Hybrid capital distributions, percentage movement from prior period	38%
Hybrid capital distributions, percentage movement from same period in prior year	93%
Life insurance: Tax adjustment on policyholder earnings		(1)
Life insurance: Tax adjustment on policyholder earnings, percentage movement from prior period	(100.00%)
Other non-assessable items	$ (1)	(63)	(34)
Other non-assessable items, percentage movement from prior period	(98.00%)
Other non-assessable items, percentage movement from same period in prior year	(97.00%)
Other non-deductible items	$ 10	362	47
Other non-deductible items, percentage movement from prior period	(97.00%)
Other non-deductible items, percentage movement from same period in prior year	(79.00%)
Adjustment for overseas tax rates	$ (16)	(16)	(15)
Adjustment for overseas tax rates, percentage movement from same period in prior year	7%
Income tax (over)/under provided in prior years		(84)	7
Income tax (over)/under provided in prior years, percentage movement from prior period	(100.00%)
Income tax (over)/under provided in prior years, percentage movement from same period in prior year	(100.00%)
Other items	$ (115)	(27)	(14)
Total income tax expense	$ 1,620	$ 1,336	$ 1,434
Total income tax expense, percentage movement from prior period	21%
Total income tax expense, percentage movement from same period of prior year	13%
Effective income tax rate	28.80%	35.62%	30.39%
Effective income tax rate, percentage movement from same period in prior year	1.59%
Tax losses on sale of AAML	$ 86

Earnings per share - Basic (Det

Earnings per share - Basic (Details) - AUD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Earnings per share
Net profit attributable to owners of WBC	$ 4,001	$ 2,414	$ 3,280
Adjustment for RSP dividends	(2)	(1)	(2)
Adjusted net profit attributable to owners of WBC	$ 3,999	$ 2,413	$ 3,278
Weighted average number of ordinary shares
Weighted average number of ordinary shares on issue	3,506	3,501	3,626
Treasury shares (including RSP share rights)	(5)	(5)	(4)
Adjusted weighted average number of ordinary shares	3,501	3,496	3,622
Earnings per ordinary share (cents)	$ 1.142	$ 0.690	$ 0.905

Earnings per share - Diluted (D

Earnings per share - Diluted (Details) - AUD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Earnings per share
Net profit attributable to owners of WBC	$ 4,001	$ 2,414	$ 3,280
Adjustment for potential dilution:
Distributions to convertible loan capital holders	186	133	100
Adjusted net profit attributable to owners of WBC	$ 4,187	$ 2,547	$ 3,380
Weighted average number of ordinary shares
Weighted average number of ordinary shares on issue	3,506	3,501	3,626
Treasury shares (including RSP share rights)	(5)	(5)	(4)
Adjustment for potential dilution:
Share-based payments	3	4	3
Convertible loan capital	384	361	321
Adjusted weighted average number of ordinary shares	3,888	3,861	3,946
Earnings per ordinary share (cents)	$ 1.077	$ 0.660	$ 0.857

Loans (Details)

Loans (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 749,931	$ 739,647	$ 719,556
Loans, percentage movement from prior period	1%
Loans, percentage movement from same period of prior year	4%
Securitised loans	$ 4,019	4,747	4,808
Assets pledged for covered bond programs	40,483	38,455	35,052
Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 754,401	743,853	723,751
Loans, percentage movement from prior period	1%
Loans, percentage movement from same period of prior year	4%
Provision | Provision for ECL on loans
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ (4,470)	(4,206)	(4,195)
Loans, percentage movement from prior period	6%
Loans, percentage movement from same period of prior year	7%
Australia | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 654,489	650,850	629,169
Loans, percentage movement from prior period	1%
Loans, percentage movement from same period of prior year	4%
Australia | Housing | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 472,570	467,382	458,278
Loans, percentage movement from prior period	1%
Loans, percentage movement from same period of prior year	3%
Australia | Personal | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 12,028	12,832	14,128
Loans, percentage movement from prior period	(6.00%)
Loans, percentage movement from same period of prior year	(15.00%)
Australia | Business | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 169,891	170,636	156,763
Loans, percentage movement from same period of prior year	8%
New Zealand | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 92,865	86,124	88,190
Loans, percentage movement from prior period	8%
Loans, percentage movement from same period of prior year	5%
New Zealand | Housing | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 61,081	56,211	57,780
Loans, percentage movement from prior period	9%
Loans, percentage movement from same period of prior year	6%
New Zealand | Personal | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 1,116	1,058	1,116
Loans, percentage movement from prior period	5%
New Zealand | Business | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 30,668	28,855	29,294
Loans, percentage movement from prior period	6%
Loans, percentage movement from same period of prior year	5%
Other overseas | Gross amount
Loan portfolio, disaggregated by location of booking office and product type
Loans	$ 7,047	$ 6,879	$ 6,392
Loans, percentage movement from prior period	2%
Loans, percentage movement from same period of prior year	10%

Provisions for expected credi_3

Provisions for expected credit losses - Provision for ECL on loans and credit commitments by stage (Details) $ in Millions	6 Months Ended
	Mar. 31, 2023 AUD ($)	Sep. 30, 2022 AUD ($)	Mar. 31, 2022 AUD ($)	Sep. 30, 2021 AUD ($)
Loans and credit commitments
Gross loans and credit commitments	$ 962,804	$ 943,952	$ 924,937
Gross loans and credit commitments, percentage movement from prior period	2%
Gross loans and credit commitments, percentage movement from same period in prior year	4%
Coverage ratio on loans (%)	0.59%	0.57%	0.58%
Coverage ratio on loans, basis points movement from prior period	0.02
Coverage ratio on loans, basis points movement from same period in prior year	0.01
Coverage ratio on loans and credit commitments (%)	0.51%	0.49%	0.51%
Coverage ratio on loans and credit commitments, basis points movement from prior period	0.02
Provisions for ECL on loans and credit commitments
Loans and credit commitments
Provisions for expected credit losses	$ 4,912	$ 4,625	$ 4,675
Provisions for expected credit losses, percentage movement from prior period	6%
Provisions for expected credit losses, percentage movement from same period in prior year	5%
Provisions for ECL on loans and credit commitments | Individually assessed
Loans and credit commitments
Provisions for expected credit losses	$ 382	452	501
Provisions for expected credit losses, percentage movement from prior period	(15.00%)
Provisions for expected credit losses, percentage movement from same period in prior year	(24.00%)
Provisions for ECL on loans and credit commitments | Collectively assessed
Loans and credit commitments
Provisions for expected credit losses	$ 4,530	4,173	4,174
Provisions for expected credit losses, percentage movement from prior period	9%
Provisions for expected credit losses, percentage movement from same period in prior year	9%
Provision for ECL on loans
Loans and credit commitments
Provisions for expected credit losses	$ 4,470	4,206	4,195
Provisions for expected credit losses, percentage movement from prior period	6%
Provisions for expected credit losses, percentage movement from same period in prior year	7%
Provision for ECL on credit commitments
Loans and credit commitments
Provisions for expected credit losses	$ 442	419	480
Provisions for expected credit losses, percentage movement from prior period	5%
Provisions for expected credit losses, percentage movement from same period in prior year	(8.00%)
Loans and credit commitments | Provisions for ECL on loans and credit commitments
Loans and credit commitments
Provisions for expected credit losses	$ 4,912	4,625	4,675	$ 4,999
Provisions for expected credit losses, percentage movement from prior period	6%
Provisions for expected credit losses, percentage movement from same period in prior year	5%
Loans and credit commitments | Performing - Stage 1 | Provisions for ECL on loans and credit commitments
Loans and credit commitments
Provisions for expected credit losses	$ 891	885	1,078	936
Provisions for expected credit losses, percentage movement from prior period	1%
Provisions for expected credit losses, percentage movement from same period in prior year	(17.00%)
Loans and credit commitments | Performing - Stage 2 | Provisions for ECL on loans and credit commitments
Loans and credit commitments
Provisions for expected credit losses	$ 2,628	2,341	2,107	2,091
Provisions for expected credit losses, percentage movement from prior period	12%
Provisions for expected credit losses, percentage movement from same period in prior year	25%
Loans and credit commitments | Non-performing - Stage 3 | Provisions for ECL on loans and credit commitments
Loans and credit commitments
Provisions for expected credit losses	$ 1,393	$ 1,399	$ 1,490	$ 1,972
Provisions for expected credit losses, percentage movement from same period in prior year	(7.00%)

Provisions for expected credi_4

Provisions for expected credit losses - Movement in provision for ECL on loans and credit commitments (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Balance at the beginning of the period	$ 4,625	$ 4,675
Balance at the end of the period	4,912	4,625	$ 4,675
Loans and credit commitments
Provisions for expected credit losses
Business activity during the year	54	(136)	(94)
Net remeasurement of provision for ECL	463	416	336
Loans and credit commitments | Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Balance at the beginning of the period	4,625	4,675	4,999
Business activity during the year	54	(136)	(94)
Net remeasurement of provision for ECL	463	416	336
Write-offs	(271)	(368)	(566)
Exchange rate and other adjustments	41	38
Balance at the end of the period	4,912	4,625	4,675
Loans and credit commitments | Performing - Stage 1 | Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Balance at the beginning of the period	885	1,078	936
Transfers to Stage 1	694	451	461
Transfers to Stage 2	(159)	(133)	(102)
Transfers to Stage 3	(4)	(6)	(8)
Business activity during the year	136	99	255
Net remeasurement of provision for ECL	(670)	(603)	(463)
Exchange rate and other adjustments	9	(1)	(1)
Balance at the end of the period	891	885	1,078
Loans and credit commitments | Performing - Stage 2 | Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Balance at the beginning of the period	2,341	2,107	2,091
Transfers to Stage 1	(619)	(394)	(398)
Transfers to Stage 2	408	493	509
Transfers to Stage 3	(247)	(185)	(198)
Business activity during the year	54	(95)	(149)
Net remeasurement of provision for ECL	677	425	264
Exchange rate and other adjustments	14	(10)	(12)
Balance at the end of the period	2,628	2,341	2,107
Loans and credit commitments | Non-performing - Stage 3 | Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Balance at the beginning of the period	1,399	1,490	1,972
Transfers to Stage 1	(75)	(57)	(63)
Transfers to Stage 2	(249)	(360)	(407)
Transfers to Stage 3	251	191	206
Business activity during the year	(136)	(140)	(200)
Net remeasurement of provision for ECL	456	594	535
Write-offs	(271)	(368)	(566)
Exchange rate and other adjustments	18	49	13
Balance at the end of the period	$ 1,393	$ 1,399	$ 1,490

Provisions for expected credi_5

Provisions for expected credit losses - Provision for ECL on loans and credit commitments by class and stage (Details) - Loans and credit commitments - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Provisions for expected credit losses
Provisions for ECL/Impairment charges	$ 4,912	$ 4,625	$ 4,675
Performing - Stage 1
Provisions for expected credit losses
Provisions for ECL/Impairment charges	891	885	1,078
Performing - Stage 2
Provisions for expected credit losses
Provisions for ECL/Impairment charges	2,628	2,341	2,107
Non-performing - Stage 3
Provisions for expected credit losses
Provisions for ECL/Impairment charges	1,393	1,399	1,490
Housing
Provisions for expected credit losses
Provisions for ECL/Impairment charges	1,748	1,653	1,442
Housing | Performing - Stage 1
Provisions for expected credit losses
Provisions for ECL/Impairment charges	171	143	264
Housing | Performing - Stage 2
Provisions for expected credit losses
Provisions for ECL/Impairment charges	1,123	1,095	680
Housing | Non-performing - Stage 3
Provisions for expected credit losses
Provisions for ECL/Impairment charges	454	415	498
Personal
Provisions for expected credit losses
Provisions for ECL/Impairment charges	486	472	589
Personal | Performing - Stage 1
Provisions for expected credit losses
Provisions for ECL/Impairment charges	91	99	124
Personal | Performing - Stage 2
Provisions for expected credit losses
Provisions for ECL/Impairment charges	268	250	315
Personal | Non-performing - Stage 3
Provisions for expected credit losses
Provisions for ECL/Impairment charges	127	123	150
Business
Provisions for expected credit losses
Provisions for ECL/Impairment charges	2,678	2,500	2,644
Business | Performing - Stage 1
Provisions for expected credit losses
Provisions for ECL/Impairment charges	629	643	690
Business | Performing - Stage 2
Provisions for expected credit losses
Provisions for ECL/Impairment charges	1,237	996	1,112
Business | Non-performing - Stage 3
Provisions for expected credit losses
Provisions for ECL/Impairment charges	$ 812	$ 861	$ 842

Provisions for expected credi_6

Provisions for expected credit losses - Impact of overlays on the provision for ECL on loans and credit commitments (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Provisions for expected credit losses
Modelled provision for ECL on loans and credit commitments	$ 4,192	$ 3,925	$ 3,539
Overlays	720	700	1,136
Total provision for ECL on loans and credit commitments	$ 4,912	$ 4,625	$ 4,675

Provisions for expected credi_7

Provisions for expected credit losses - Forecast assumptions (Details)	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Calendar year 2022
Provisions for expected credit losses
Annual GDP, percentage of forecast growth (contraction)		3.40%	5.50%
Commercial property index, percentage of forecast growth (contraction)		(4.70%)	(3.10%)
Residential property prices, percentage of forecast appreciation (contraction)		(6.50%)	1.60%
Calendar year 2023
Provisions for expected credit losses
Annual GDP, percentage of forecast growth (contraction)	1%	1%	2.70%
Commercial property index, percentage of forecast growth (contraction)	(9.40%)	(3.00%)	2.10%
Residential property prices, percentage of forecast appreciation (contraction)	(7.80%)	(7.80%)	(7.00%)
Calendar Year 2024
Provisions for expected credit losses
Annual GDP, percentage of forecast growth (contraction)	1.50%
Commercial property index, percentage of forecast growth (contraction)	1.40%
Residential property prices, percentage of forecast appreciation (contraction)	2%
December 2022
Provisions for expected credit losses
Cash rate (percentage)		3.35%
Cash rate (in basis points)			0.0050
December 2023
Provisions for expected credit losses
Cash rate (percentage)	3.85%	3.60%
Cash rate (in basis points)			0.0150
December 2024
Provisions for expected credit losses
Cash rate (percentage)	2.85%
Australia | December 2022
Provisions for expected credit losses
Unemployment rate, percentage		3.10%	3.80%
Australia | December 2023
Provisions for expected credit losses
Unemployment rate, percentage	4.70%	4.40%	3.90%
Australia | December 2024
Provisions for expected credit losses
Unemployment rate, percentage	5.10%
New Zealand | December 2022
Provisions for expected credit losses
Unemployment rate, percentage		3.40%	3%
New Zealand | December 2023
Provisions for expected credit losses
Unemployment rate, percentage	4%	3.80%	3.30%
New Zealand | December 2024
Provisions for expected credit losses
Unemployment rate, percentage	5.10%

Provisions for expected credi_8

Provisions for expected credit losses - Sensitivity (Details) - AUD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Provisions for expected credit losses
Percentage of gross exposure from loans and credit commitments stage 1 reflected in stage 2		1%	1%	1%
Staging sensitivity, increase in provision for ECL		$ 95	$ 113	$ 205
Upside scenario
Provisions for expected credit losses
Percentage of weight assigned to scenario		5%	5%	5%
Base case scenario
Provisions for expected credit losses
Percentage of weight assigned to scenario		50%	50%	50%
Downside scenario
Provisions for expected credit losses
Percentage of weight assigned to scenario		45%	45%	45%
Provision for ECL | Reported probability-weighted ECL
Provisions for expected credit losses
Adjustment to ECL based on probability weighted scenario	$ 4,912		$ 4,625	$ 4,675
Provision for ECL | 100% base case ECL
Provisions for expected credit losses
Adjustment to ECL based on probability weighted scenario	3,391		2,983	2,993
Provision for ECL | 100% downside ECL
Provisions for expected credit losses
Adjustment to ECL based on probability weighted scenario	$ 6,836		$ 6,680	$ 6,752

Provisions for expected credi_9

Provisions for expected credit losses - Portfolio Overlays (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Provisions for expected credit losses
Overlays	$ 720	$ 700	$ 1,136
Potential high consumer stress from rising interest rates, higher inflation, higher unemployment, and other risks
Provisions for expected credit losses
Overlays	489	480	270
Supply chain disruptions and labour shortages
Provisions for expected credit losses
Overlays	100	150	247
Extreme weather events
Provisions for expected credit losses
Overlays	131	70	70
COVID-19 impacts
Provisions for expected credit losses
Overlays	$ 0	$ 0	$ 549

Provisions for expected cred_10

Provisions for expected credit losses - Total provision for ECL (Details) - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Provisions for expected credit losses	$ 4,912	$ 4,625	$ 4,675
Provisions for ECL
Provisions for expected credit losses
Provisions for expected credit losses	4,923	4,635	4,682
Loans and credit commitments | Provisions for ECL on loans and credit commitments
Provisions for expected credit losses
Provisions for expected credit losses	4,912	4,625	4,675	$ 4,999
Debt securities at amortised cost | Provision for ECL on debt securities at amortised cost
Provisions for expected credit losses
Provisions for expected credit losses	6	6	4
Debt securities at FVOCI | Provision for ECL on debt securities at FVOCI
Provisions for expected credit losses
Provisions for expected credit losses	$ 5	$ 4	$ 3

Provisions for expected cred_11

Provisions for expected credit losses - Reconciliation of impairment charges (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Reconciliation of impairment charges
Recoveries	$ (128)	$ (87)	$ (102)
Impairment charges/(benefits)	390	196	139
Loans and credit commitments
Reconciliation of impairment charges
Business activity during the year	54	(136)	(94)
Net remeasurement of provision for ECL	463	416	336
Debt Securities | Amortised cost
Reconciliation of impairment charges
Impairment charges		$ 3	1
Debt Securities | FVOCI
Reconciliation of impairment charges
Impairment charges	$ 1		$ (2)

Credit Quality (Details)

Credit Quality (Details) - Credit risk - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Loans | Housing
Credit quality
Exposure to credit risk	$ 534,021	$ 523,952	$ 516,403
Loans | Housing | Performing - Stage 1
Credit quality
Exposure to credit risk	442,181	432,532	452,004
Loans | Housing | Performing - Stage 2
Credit quality
Exposure to credit risk	87,419	87,504	59,831
Loans | Housing | Non-performing - Stage 3
Credit quality
Exposure to credit risk	4,421	3,916	4,568
Loans | Housing | Strong
Credit quality
Exposure to credit risk	443,059	435,544	425,568
Loans | Housing | Strong | Performing - Stage 1
Credit quality
Exposure to credit risk	403,099	393,754	401,201
Loans | Housing | Strong | Performing - Stage 2
Credit quality
Exposure to credit risk	39,960	41,790	24,367
Loans | Housing | Good/satisfactory
Credit quality
Exposure to credit risk	73,068	72,443	72,994
Loans | Housing | Good/satisfactory | Performing - Stage 1
Credit quality
Exposure to credit risk	37,045	36,862	48,746
Loans | Housing | Good/satisfactory | Performing - Stage 2
Credit quality
Exposure to credit risk	36,023	35,581	24,248
Loans | Housing | Weak
Credit quality
Exposure to credit risk	17,894	15,965	17,841
Loans | Housing | Weak | Performing - Stage 1
Credit quality
Exposure to credit risk	2,037	1,916	2,057
Loans | Housing | Weak | Performing - Stage 2
Credit quality
Exposure to credit risk	11,436	10,133	11,216
Loans | Housing | Weak | Non-performing - Stage 3
Credit quality
Exposure to credit risk	4,421	3,916	4,568
Loans | Personal
Credit quality
Exposure to credit risk	13,151	13,897	15,250
Loans | Personal | Performing - Stage 1
Credit quality
Exposure to credit risk	11,172	12,096	13,270
Loans | Personal | Performing - Stage 2
Credit quality
Exposure to credit risk	1,739	1,588	1,727
Loans | Personal | Non-performing - Stage 3
Credit quality
Exposure to credit risk	240	213	253
Loans | Personal | Strong
Credit quality
Exposure to credit risk	4,965	5,060	4,974
Loans | Personal | Strong | Performing - Stage 1
Credit quality
Exposure to credit risk	4,854	4,961	4,890
Loans | Personal | Strong | Performing - Stage 2
Credit quality
Exposure to credit risk	111	99	84
Loans | Personal | Good/satisfactory
Credit quality
Exposure to credit risk	7,295	7,959	9,205
Loans | Personal | Good/satisfactory | Performing - Stage 1
Credit quality
Exposure to credit risk	6,142	6,903	8,092
Loans | Personal | Good/satisfactory | Performing - Stage 2
Credit quality
Exposure to credit risk	1,153	1,056	1,113
Loans | Personal | Weak
Credit quality
Exposure to credit risk	891	878	1,071
Loans | Personal | Weak | Performing - Stage 1
Credit quality
Exposure to credit risk	176	232	288
Loans | Personal | Weak | Performing - Stage 2
Credit quality
Exposure to credit risk	475	433	530
Loans | Personal | Weak | Non-performing - Stage 3
Credit quality
Exposure to credit risk	240	213	253
Loans | Business
Credit quality
Exposure to credit risk	207,229	206,004	192,098
Loans | Business | Performing - Stage 1
Credit quality
Exposure to credit risk	158,451	170,134	171,153
Loans | Business | Performing - Stage 2
Credit quality
Exposure to credit risk	45,606	32,753	17,878
Loans | Business | Non-performing - Stage 3
Credit quality
Exposure to credit risk	3,172	3,117	3,067
Loans | Business | Strong
Credit quality
Exposure to credit risk	88,563	87,984	76,798
Loans | Business | Strong | Performing - Stage 1
Credit quality
Exposure to credit risk	77,166	82,280	76,014
Loans | Business | Strong | Performing - Stage 2
Credit quality
Exposure to credit risk	11,397	5,704	784
Loans | Business | Good/satisfactory
Credit quality
Exposure to credit risk	111,122	110,788	108,151
Loans | Business | Good/satisfactory | Performing - Stage 1
Credit quality
Exposure to credit risk	81,213	87,770	94,954
Loans | Business | Good/satisfactory | Performing - Stage 2
Credit quality
Exposure to credit risk	29,909	23,018	13,197
Loans | Business | Weak
Credit quality
Exposure to credit risk	7,544	7,232	7,149
Loans | Business | Weak | Performing - Stage 1
Credit quality
Exposure to credit risk	72	84	185
Loans | Business | Weak | Performing - Stage 2
Credit quality
Exposure to credit risk	4,300	4,031	3,897
Loans | Business | Weak | Non-performing - Stage 3
Credit quality
Exposure to credit risk	3,172	3,117	3,067
Undrawn credit commitments
Credit quality
Exposure to credit risk	208,403	200,099	201,186
Undrawn credit commitments | Performing - Stage 1
Credit quality
Exposure to credit risk	188,667	184,535	192,094
Undrawn credit commitments | Performing - Stage 2
Credit quality
Exposure to credit risk	19,339	15,217	8,771
Undrawn credit commitments | Non-performing - Stage 3
Credit quality
Exposure to credit risk	397	347	321
Undrawn credit commitments | Strong
Credit quality
Exposure to credit risk	165,447	157,659	157,049
Undrawn credit commitments | Strong | Performing - Stage 1
Credit quality
Exposure to credit risk	155,647	150,424	154,459
Undrawn credit commitments | Strong | Performing - Stage 2
Credit quality
Exposure to credit risk	9,800	7,235	2,590
Undrawn credit commitments | Good/satisfactory
Credit quality
Exposure to credit risk	41,480	40,957	42,888
Undrawn credit commitments | Good/satisfactory | Performing - Stage 1
Credit quality
Exposure to credit risk	32,907	34,011	37,519
Undrawn credit commitments | Good/satisfactory | Performing - Stage 2
Credit quality
Exposure to credit risk	8,573	6,946	5,369
Undrawn credit commitments | Weak
Credit quality
Exposure to credit risk	1,476	1,483	1,249
Undrawn credit commitments | Weak | Performing - Stage 1
Credit quality
Exposure to credit risk	113	100	116
Undrawn credit commitments | Weak | Performing - Stage 2
Credit quality
Exposure to credit risk	966	1,036	812
Undrawn credit commitments | Weak | Non-performing - Stage 3
Credit quality
Exposure to credit risk	397	347	321
Loans and undrawn credit commitments
Credit quality
Exposure to credit risk	962,804	943,952	924,937
Loans and undrawn credit commitments | Performing - Stage 1
Credit quality
Exposure to credit risk	800,471	799,297	828,521
Loans and undrawn credit commitments | Performing - Stage 2
Credit quality
Exposure to credit risk	154,103	137,062	88,207
Loans and undrawn credit commitments | Non-performing - Stage 3
Credit quality
Exposure to credit risk	8,230	7,593	8,209
Loans and undrawn credit commitments | Strong
Credit quality
Exposure to credit risk	702,034	686,247	664,389
Loans and undrawn credit commitments | Strong | Performing - Stage 1
Credit quality
Exposure to credit risk	640,766	631,419	636,564
Loans and undrawn credit commitments | Strong | Performing - Stage 2
Credit quality
Exposure to credit risk	61,268	54,828	27,825
Loans and undrawn credit commitments | Good/satisfactory
Credit quality
Exposure to credit risk	232,965	232,147	233,238
Loans and undrawn credit commitments | Good/satisfactory | Performing - Stage 1
Credit quality
Exposure to credit risk	157,307	165,546	189,311
Loans and undrawn credit commitments | Good/satisfactory | Performing - Stage 2
Credit quality
Exposure to credit risk	75,658	66,601	43,927
Loans and undrawn credit commitments | Weak
Credit quality
Exposure to credit risk	27,805	25,558	27,310
Loans and undrawn credit commitments | Weak | Performing - Stage 1
Credit quality
Exposure to credit risk	2,398	2,332	2,646
Loans and undrawn credit commitments | Weak | Performing - Stage 2
Credit quality
Exposure to credit risk	17,177	15,633	16,455
Loans and undrawn credit commitments | Weak | Non-performing - Stage 3
Credit quality
Exposure to credit risk	$ 8,230	$ 7,593	$ 8,209

Deposits and other borrowings_2

Deposits and other borrowings (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Deposits and other borrowings
Deposits and other borrowings	$ 676,352	$ 659,129	$ 645,606
Deposits and other borrowings, percentage movement from prior period	3%
Deposits and other borrowings, percentage movement from same period of prior year	5%
Australia
Deposits and other borrowings
Deposits and other borrowings	$ 577,317	566,152	548,351
Deposits and other borrowings, percentage movement from prior period	2%
Deposits and other borrowings, percentage movement from same period of prior year	5%
Australia | Certificates of deposit
Deposits and other borrowings
Deposits and other borrowings	$ 32,227	30,507	27,048
Deposits and other borrowings, percentage movement from prior period	6%
Deposits and other borrowings, percentage movement from same period of prior year	19%
Australia | Non-interest bearing, repayable at call
Deposits and other borrowings
Deposits and other borrowings	$ 54,967	55,180	54,829
Australia | Other interest bearing at call
Deposits and other borrowings
Deposits and other borrowings	$ 349,419	352,544	361,609
Deposits and other borrowings, percentage movement from prior period	(1.00%)
Deposits and other borrowings, percentage movement from same period of prior year	(3.00%)
Australia | Other interest bearing term
Deposits and other borrowings
Deposits and other borrowings	$ 140,704	127,921	104,865
Deposits and other borrowings, percentage movement from prior period	10%
Deposits and other borrowings, percentage movement from same period of prior year	34%
New Zealand
Deposits and other borrowings
Deposits and other borrowings	$ 77,321	71,202	75,622
Deposits and other borrowings, percentage movement from prior period	9%
Deposits and other borrowings, percentage movement from same period of prior year	2%
New Zealand | Certificates of deposit
Deposits and other borrowings
Deposits and other borrowings	$ 2,618	2,588	2,783
Deposits and other borrowings, percentage movement from prior period	1%
Deposits and other borrowings, percentage movement from same period of prior year	(6.00%)
New Zealand | Non-interest bearing, repayable at call
Deposits and other borrowings
Deposits and other borrowings	$ 12,251	12,674	14,706
Deposits and other borrowings, percentage movement from prior period	(3.00%)
Deposits and other borrowings, percentage movement from same period of prior year	(17.00%)
New Zealand | Other interest bearing at call
Deposits and other borrowings
Deposits and other borrowings	$ 28,395	27,517	30,188
Deposits and other borrowings, percentage movement from prior period	3%
Deposits and other borrowings, percentage movement from same period of prior year	(6.00%)
New Zealand | Other interest bearing term
Deposits and other borrowings
Deposits and other borrowings	$ 34,057	28,423	27,945
Deposits and other borrowings, percentage movement from prior period	20%
Deposits and other borrowings, percentage movement from same period of prior year	22%
Other overseas
Deposits and other borrowings
Deposits and other borrowings	$ 21,714	21,775	21,633
Other overseas | Certificates of deposit
Deposits and other borrowings
Deposits and other borrowings	$ 13,922	13,200	14,903
Deposits and other borrowings, percentage movement from prior period	5%
Deposits and other borrowings, percentage movement from same period of prior year	(7.00%)
Other overseas | Non-interest bearing, repayable at call
Deposits and other borrowings
Deposits and other borrowings	$ 1,340	1,178	1,008
Deposits and other borrowings, percentage movement from prior period	14%
Deposits and other borrowings, percentage movement from same period of prior year	33%
Other overseas | Other interest bearing at call
Deposits and other borrowings
Deposits and other borrowings	$ 2,047	1,883	1,696
Deposits and other borrowings, percentage movement from prior period	9%
Deposits and other borrowings, percentage movement from same period of prior year	21%
Other overseas | Other interest bearing term
Deposits and other borrowings
Deposits and other borrowings	$ 4,405	$ 5,514	$ 4,026
Deposits and other borrowings, percentage movement from prior period	(20.00%)
Deposits and other borrowings, percentage movement from same period of prior year	9%

Fair values of financial asse_3

Fair values of financial assets and financial liabilities - Hierarchy (Details) - Recurring - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	$ 123,419	$ 140,971	$ 114,299
Financial liabilities measured at fair value	86,664	103,964	83,655
Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	48,769	46,331	44,743
Other financial liabilities
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	11,449	11,325	6,857
Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	20,791	39,568	25,347
Debt issues
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	5,655	6,740	6,294
Liabilities held for sale
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value			414
Trading securities and financial assets measured at FVIS
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	30,474	24,332	23,738
Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	20,346	41,283	18,269
Investment securities
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	72,469	75,284	69,564
Loans
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	130	72	249
Assets held for sale
Fair values of financial assets and financial liabilities
Financial assets measured at fair value			2,479
Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	13,807	14,741	18,407
Financial liabilities measured at fair value	1,373	2,057	1,116
Level 1 | Other financial liabilities
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	1,361	2,006	1,090
Level 1 | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	12	51	26
Level 1 | Trading securities and financial assets measured at FVIS
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	10,885	2,039	5,474
Level 1 | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	17	68	38
Level 1 | Investment securities
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	2,905	12,634	11,838
Level 1 | Assets held for sale
Fair values of financial assets and financial liabilities
Financial assets measured at fair value			1,057
Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	109,151	125,785	95,390
Financial liabilities measured at fair value	85,237	101,884	82,506
Level 2 | Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	48,769	46,331	44,743
Level 2 | Other financial liabilities
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	10,088	9,319	5,767
Level 2 | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	20,725	39,494	25,288
Level 2 | Debt issues
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	5,655	6,740	6,294
Level 2 | Liabilities held for sale
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value			414
Level 2 | Trading securities and financial assets measured at FVIS
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	19,578	22,275	18,260
Level 2 | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	20,317	41,202	18,204
Level 2 | Investment securities
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	69,150	62,263	57,287
Level 2 | Loans
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	106	45	217
Level 2 | Assets held for sale
Fair values of financial assets and financial liabilities
Financial assets measured at fair value			1,422
Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	461	445	502
Financial liabilities measured at fair value	54	23	33
Level 3 | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value	54	23	33
Level 3 | Trading securities and financial assets measured at FVIS
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	11	18	4
Level 3 | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	12	13	27
Level 3 | Investment securities
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	414	387	439
Level 3 | Loans
Fair values of financial assets and financial liabilities
Financial assets measured at fair value	$ 24	$ 27	$ 32

Fair values of financial asse_4

Fair values of financial assets and financial liabilities - Reconciliation of non-market observables (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Day one profit or loss
Closing balance of unrecognised day one profit (loss)	$ 0	$ 1	$ 1
At fair value | Level 3
Assets
Balance at the beginning of the period	445
Gains/(losses) on assets / (gains)/losses on liabilities recognised in:
Income statements	(4)
Other comprehensive income	(32)
Acquisition and issues	106
Disposal and settlements	(19)
Transfer into or out of non-market observables	(37)
Foreign currency translation impacts	2
Balance at the end of the period	461
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at end of period	8
Liabilities
Balance at the beginning of the period	23
Gains/(losses) on assets / (gains)/losses on liabilities recognised in:
Income statements	(2)
Acquisition and issues	43
Disposal and settlements	(3)
Transfer into or out of non-market observables	(7)
Balance at the end of the period	54
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at end of period	(41)
At fair value | Level 3 | Derivatives
Liabilities
Balance at the beginning of the period	23
Gains/(losses) on assets / (gains)/losses on liabilities recognised in:
Income statements	(2)
Acquisition and issues	43
Disposal and settlements	(3)
Transfer into or out of non-market observables	(7)
Balance at the end of the period	54
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at end of period	(41)
At fair value | Level 3 | Trading securities and financial assets measured at FVIS
Assets
Balance at the beginning of the period	18
Gains/(losses) on assets / (gains)/losses on liabilities recognised in:
Acquisition and issues	21
Transfer into or out of non-market observables	(29)
Foreign currency translation impacts	1
Balance at the end of the period	11
At fair value | Level 3 | Investment securities
Assets
Balance at the beginning of the period	387
Gains/(losses) on assets / (gains)/losses on liabilities recognised in:
Other comprehensive income	(32)
Acquisition and issues	60
Disposal and settlements	(1)
Balance at the end of the period	414
At fair value | Level 3 | Other
Assets
Balance at the beginning of the period	40
Gains/(losses) on assets / (gains)/losses on liabilities recognised in:
Income statements	(4)
Acquisition and issues	25
Disposal and settlements	(18)
Transfer into or out of non-market observables	(8)
Foreign currency translation impacts	1
Balance at the end of the period	36
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at end of period	$ 8

Fair values of financial asse_5

Fair values of financial assets and financial liabilities - Not measured at fair value (Details) - Not measured at fair value - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Fair values of financial assets and financial liabilities
Financial assets	$ 880,206	$ 857,875	$ 834,891
Financial assets, Fair Value	874,707	850,809	831,865
Financial liabilities	854,135	833,617	803,909
Financial liabilities, Fair Value	853,407	832,694	804,317
Collateral received
Fair values of financial assets and financial liabilities
Financial liabilities	3,577	6,371	2,170
Financial liabilities, Fair Value	3,577	6,371	2,170
Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial liabilities	627,583	612,798	600,863
Financial liabilities, Fair Value	627,823	613,134	600,982
Other financial liabilities
Fair values of financial assets and financial liabilities
Financial liabilities	48,653	45,035	44,488
Financial liabilities, Fair Value	48,653	45,035	44,488
Debt issues
Fair values of financial assets and financial liabilities
Financial liabilities	143,297	138,128	127,335
Financial liabilities, Fair Value	142,666	137,452	127,247
Loan capital
Fair values of financial assets and financial liabilities
Financial liabilities	31,025	31,254	29,036
Financial liabilities, Fair Value	30,688	30,671	29,413
Liabilities held for sale
Fair values of financial assets and financial liabilities
Financial liabilities		31	17
Financial liabilities, Fair Value		31	17
Cash and balances with central banks
Fair values of financial assets and financial liabilities
Financial assets	117,886	105,257	102,410
Financial assets, Fair Value	117,886	105,257	102,410
Collateral paid
Fair values of financial assets and financial liabilities
Financial assets	4,093	6,216	7,374
Financial assets, Fair Value	4,093	6,216	7,374
Investment securities
Fair values of financial assets and financial liabilities
Financial assets	1,083	1,181	878
Financial assets, Fair Value	1,083	1,179	878
Loans
Fair values of financial assets and financial liabilities
Financial assets	749,801	739,575	719,307
Financial assets, Fair Value	744,302	732,511	716,281
Other financial assets
Fair values of financial assets and financial liabilities
Financial assets	7,343	5,626	4,896
Financial assets, Fair Value	$ 7,343	5,626	4,896
Assets held for sale
Fair values of financial assets and financial liabilities
Financial assets		20	26
Financial assets, Fair Value		$ 20	$ 26

Provisions, contingent liabil_3

Provisions, contingent liabilities, contingent assets and credit commitments - Provisions and contingent liabilities (Details) $ in Millions	6 Months Ended
	Mar. 31, 2023 AUD ($) item	Dec. 31, 2019 AUD ($)
Changes in other provisions
Balance at beginning of period	$ 2,950
Additions	786
Utilisation	(1,215)
Reversal of unutilised provisions	(97)
Balance at end of period	2,424
Litigation
Contingent liabilities
Preliminary estimate of losses		$ 1,000
Guarantees | Guarantees capped at $20 million per year
Parent Entity guarantees and undertakings
Maximum amount of initial guarantee	20
Automatic reinstatement guarantee amount	$ 20
Guarantees | Guarantees capped at $2 million per year
Parent Entity guarantees and undertakings
Number of specific guarantees | item	2
Maximum amount of initial guarantee	$ 2
Automatic reinstatement guarantee amount	2
Long service leave
Changes in other provisions
Balance at beginning of period	450
Additions	45
Utilisation	(23)
Balance at end of period	472
Annual leave and other employee benefits
Changes in other provisions
Balance at beginning of period	922
Additions	575
Utilisation	(859)
Balance at end of period	638
Litigation and non-lending losses
Changes in other provisions
Balance at beginning of period	83
Additions	12
Utilisation	(20)
Reversal of unutilised provisions	(1)
Balance at end of period	74
Provision for impairment on credit commitments
Changes in other provisions
Balance at beginning of period	419
Additions	29
Reversal of unutilised provisions	(6)
Balance at end of period	442
Lease restoration obligations
Changes in other provisions
Balance at beginning of period	208
Additions	1
Utilisation	(13)
Balance at end of period	196
Restructuring and other provisions
Changes in other provisions
Balance at beginning of period	355
Additions	65
Utilisation	(128)
Reversal of unutilised provisions	(8)
Balance at end of period	284
Compliance, regulation and remediation provisions
Changes in other provisions
Balance at beginning of period	513
Additions	59
Utilisation	(172)
Reversal of unutilised provisions	(82)
Balance at end of period	$ 318

Provisions, contingent liabil_4

Provisions, contingent liabilities, contingent assets and credit commitments - Undrawn credit commitments (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Undrawn credit commitments
Letters of credit and guarantees	$ 11,936	$ 11,868	$ 11,716
Letters of credit and guarantees, percentage change from prior period	1%
Letters of credit and guarantees, percentage change from same period of prior year	2%
Commitments to extend credit	$ 195,765	188,183	189,415
Commitments to extend credit, percentage change from prior period	4%
Commitments to Extend Credit, percentage change from same period of prior year	3%
Other	$ 702	48	55
Total undrawn credit commitments	$ 208,403	200,099	201,186
Total undrawn credit commitments, percentage change from prior period	4%
Total undrawn credit commitments, percentage change from same period of prior year	4%
Credit commitments to customers offered and accepted but still revocable	$ 7,400	$ 8,600	$ 8,800

Shareholders' equity - Share ca

Shareholders' equity - Share capital (Details) - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Shareholders' equity
Ordinary share capital, fully paid	$ 39,824	$ 39,666	$ 39,667
Total treasury shares	(702)	(655)	(651)
Total share capital	39,122	39,011	39,016
NCI	$ 44	$ 57	$ 54
Number of unvested RSP treasury shares held	5,396,087	5,086,660	5,076,534

Shareholders' equity - Movement

Shareholders' equity - Movement in number of ordinary shares (Details) $ / shares in Units, $ in Millions		6 Months Ended
	Feb. 14, 2022 AUD ($) $ / shares shares	Mar. 31, 2023 $ / shares shares	Sep. 30, 2022 AUD ($) $ / shares shares	Mar. 31, 2022 AUD ($) $ / shares shares
Reconciliation of movement in number of ordinary shares
Value of shares acquired in off-market buy back | $			$ 1	$ 3,502
Ordinary shares
Shareholders' equity
Par value | $ / shares		$ 0
Number of votes per ordinary shares | $ / shares		1
Reconciliation of movement in number of ordinary shares
Balance as at beginning of period		3,501,127,694	3,501,127,694	3,668,591,808
Dividend reinvestment plan		7,949,266
Issued shares for the period		7,949,266
Off-market share buy-back				(167,464,114)
Balance as at end of period		3,509,076,960	3,501,127,694	3,501,127,694
DRP average price per share for final dividend | $ / shares		$ 23.86	$ 23.96	$ 22.34
Value of shares acquired in off-market buy back | $	$ 3,500
Number of shares acquired in an off-market share buy-back	167,464,114
Average price per share of shares repurchased in an off-market buy back | $ / shares	$ 20.90
Fully franked dividend component, per share | $ / shares	$ 9.56
Fully franked dividend component, aggregate value | $	$ 1,601
Off-market share buy-back, capital component per share | $ / shares	$ 11.34
Off-market share buy-back, transaction costs | $	$ 1,902
Ordinary shares | Shares purchased on the market for 2021 final dividend
Reconciliation of movement in number of ordinary shares
Dividend reinvestment plan		9,971,443	10,286,188

Shareholders' equity - Ordinary

Shareholders' equity - Ordinary shares purchased and sold on market (Details) - Ordinary shares	6 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-based payments
Net number of ordinary shares purchased/(sold) on market	3,388,325
Employee Share Plan (ESP)
Share-based payments
Net number of ordinary shares purchased/(sold) on market	1,156,722
Average share price, ordinary shares | $ / shares	$ 23.79
Restricted Share Plan (RSP)
Share-based payments
Net number of ordinary shares purchased/(sold) on market	2,061,377
Average share price, ordinary shares | $ / shares	$ 23.40
Westpac Performance Plan (WPP) | Share rights
Share-based payments
Net number of ordinary shares purchased/(sold) on market	170,226
Average share price, ordinary shares | $ / shares	$ 22.81

Shareholders' equity - Reconcil

Shareholders' equity - Reconciliation of movement in reserves (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Debt securities at FVOCI reserve
Balance as at beginning of period	$ 62	$ 223	$ 443
Net gains/(losses) from changes in fair value	13	(187)	(142)
Income tax effect		50	38
Transferred to income statement	(65)	(49)	(205)
Income tax effect	21	16	62
Loss allowance on debt securities measured at FVOCI	1		(2)
Other	(15)	9	29
Balance as at end of period	17	62	223
Equity securities at FVOCI reserve
Balance as at beginning of period	136	190	44
Net gains/(losses) from changes in fair value	(34)	(54)	146
Income tax effect	9
Balance as at end of period	111	136	190
Share-based payment reserve
Balance as at beginning of period	1,893	1,866	1,806
Share-based payment expense	58	27	60
Balance as at end of period	1,951	1,893	1,866
Cash flow hedge reserve
Balance as at beginning of period	813	1,049	196
Net gains/(losses) from changes in fair value	522	82	1,222
Income tax effect	(156)	(21)	(362)
Transferred to income statements	(418)	(424)	(10)
Income tax effect	124	127	3
Balance as at end of period	885	813	1,049
Foreign currency translation reserve
Balance as at beginning of period	(505)	(407)	(241)
Exchange differences on translation of foreign operations	553	(133)	(367)
Gains/(losses) on net investment hedges	(175)	35	201
Balance as at end of period	(127)	(505)	(407)
Other reserves
Balance as at beginning of period	(21)	(20)	(21)
Transactions with owners		(1)	1
Balance as at end of period	(21)	(21)	(20)
Total reserves	$ 2,816	$ 2,378	$ 2,901

Notes to the consolidated cas_3

Notes to the consolidated cash flow statements - Operating activities (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Reconciliation of net cash provided by/(used in) operating activities to net profit for the year
Profit after income tax expense	$ 4,005	$ 2,415	$ 3,284
Profit after income tax expense, percentage movement from prior period	66%
Profit after income tax expense, percentage movement from same period of prior year	22%
Adjustments:
Depreciation, amortisation and impairment	$ 536	776	805
Depreciation, amortisation and impairment, percentage movement from prior period	(31.00%)
Depreciation, amortisation and impairment, percentage movement from same period in prior year	(33.00%)
Impairment charges/(benefits)	$ 518	283	241
Impairment charges/(benefits), percentage movement from prior period	83%
Impairment charges/(benefits), percentage movement from same period in prior year	115%
Net decrease/(increase) in current and deferred tax	$ 256	326	101
Net decrease/(increase) in current and deferred tax, percentage movement from prior period	(21.00%)
Net decrease/(increase) in current and deferred tax, percentage movement from same period in prior year	153%
(Increase)/decrease in accrued interest receivable	$ (558)	(485)	(59)
(Increase)/decrease in accrued interest receivable, percentage movement from prior period	15%
(Decrease)/increase in accrued interest payable	$ 1,350	769	25
(Decrease)/increase in accrued interest payable, percentage movement from prior period	76%
(Decrease)/increase in provisions	$ (526)	(85)	(536)
(Decrease)/increase in provisions, percentage movement from same period in prior year	(2.00%)
Other non-cash items	$ 413	2,038	(169)
Other non-cash items, percentage movement from prior period	(80.00%)
Cash flows from operating activities before changes in operating assets and liabilities	$ 5,994	6,037	3,692
Cash flows from operating activities before changes in operating assets and liabilities, percentage movement from prior period	(1.00%)
Cash flows from operating activities before changes in operating assets and liabilities, percentage movement from same period in prior year	62%
Net (increase)/decrease in:
Collateral paid	$ 1,898	1,769	(3,293)
Collateral paid, percentage movement from prior period	7%
Trading securities and financial assets measured at FVIS	$ (4,967)	(1,644)	(2,106)
Trading securities and financial assets measured at FVIS, percentage movement from same period in prior year	136%
Derivative financial instruments	$ (165)	(553)	3,004
Derivative financial instruments, percentage movement from prior period	(70.00%)
Loans	$ (5,074)	(23,709)	(12,636)
Loans, percentage movement from prior period	(79.00%)
Loans, percentage movement from same period in prior year	(60.00%)
Other financial assets	$ (148)	(447)	726
Other financial assets, percentage movement from prior period	(67.00%)
Life insurance assets and liabilities		133	133
Life insurance assets and liabilities, percentage movement from prior period	(100.00%)
Life insurance assets and liabilities, percentage movement from same period in prior year	(100.00%)
Other assets	$ 26	37	(17)
Other assets, percentage movement from prior period	(30.00%)
Net increase/(decrease) in:
Collateral received	$ (2,781)	3,827	(184)
Deposits and other borrowings	$ 13,464	13,296	21,758
Deposits and other borrowings, percentage movement from prior period	1%
Deposits and other borrowings, percentage movement from same period in prior year	(38.00%)
Other financial liabilities	$ (328)	5,738	1,382
Other liabilities	(4)	8	3
Net cash provided by/(used in) operating activities	$ 7,915	$ 4,492	$ 12,462
Net cash provided by/(used in) operating activities, percentage movement from prior period	76%
Net cash provided by/(used in) operating activities, percentage movement from same period in prior year	(36.00%)

Notes to the consolidated cas_4

Notes to the consolidated cash flow statements - Details of the assets and liabilities over which control ceased (Details) - AUD ($) $ in Millions	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Assets:
Cash and balances with central banks	$ 117,886	$ 105,257	$ 102,410
Loans	749,931	739,647	719,556
Other financial assets	7,343	5,626	4,896
Deferred tax assets	1,703	1,754	1,831
Intangible assets	10,724	10,327	10,064
Other assets	582	734	600
Total assets	1,019,108	1,014,198	964,749
Liabilities:
Other financial liabilities	60,102	56,360	51,345
Current tax liabilities	363	219	21
Provisions	2,424	2,950	3,035
Deferred tax liabilities			164
Other liabilities	2,854	2,938	3,379
Total equity attributable to owners of WBC	72,624	70,452	70,279
Assets and liabilities over which control ceased
Assets:
Cash and balances with central banks	18	169
Loans			965
Other financial assets	18	54	12
Life insurance assets		2,180	186
Deferred tax assets		39
Intangible assets	55
Other assets		156	12
Total assets	91	2,598	1,175
Liabilities:
Other financial liabilities	22	32	2
Current tax liabilities			2
Life insurance liabilities		300	(115)
Provisions	1	48	4
Deferred tax liabilities			34
Other liabilities		177	36
Total Liabilities	23	557	(37)
Total equity attributable to owners of WBC	$ 68	$ 2,041	$ 1,212

Notes to the consolidated cas_5

Notes to the consolidated cash flow statements - Other disclosures for entities over which control ceased (Details) - Assets and liabilities over which control ceased - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Details of the assets and liabilities over which control ceased
Cash proceeds received (net of transaction costs)	$ 311	$ 896	$ 1,388
Expected receivable (completion settlement))/deferred consideration		33	113
Total consideration	311	929	1,501
Gain/(loss) on disposal	$ 243	$ (1,112)	$ 289

Notes to the consolidated cas_6

Notes to the consolidated cash flow statements - Reconciliation of cash proceeds from disposal (Details) - Assets and liabilities over which control ceased - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Reconciliation of cash proceeds from disposal
Cash proceeds received (net of transaction costs)	$ 311	$ 896	$ 1,388
Less: Cash deconsolidated	(18)	(169)
Cash consideration received (net of transaction costs and cash held)	$ 293	$ 727	$ 1,388

Notes to the consolidated cas_7

Notes to the consolidated cash flow statements - Non-cash financing activities and restricted cash (Details) - AUD ($) $ in Millions	6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022
Non-cash financing activities
Shares issued under the dividend reinvestment plan	$ 190
Increase in lease liabilities	$ 158	$ 146	$ 98
Increase in lease liabilities, percentage movement from prior period	8%
Increase in lease liabilities, percentage movement from same period in prior year	61%
Restricted cash
Restricted cash included in cash and balances with central banks	$ 328	$ 303	$ 480
AAML
Businesses disposed
Proportion of ownership interest in business sold	100%

Subsequent events (Details)

Subsequent events (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Mar. 31, 2023 AUD ($) $ / shares
Subsequent events
Interim dividend per share determined by the Board | $ / shares	$ 0.70
Proposed dividend | $	$ 2,456

Assets and liabilities held f_3

Assets and liabilities held for sale - Summary (Details) - Specialist Businesses - AUD ($) $ in Millions		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2023
Assets and liabilities held for sale
Amount of expense recovery recognized in operating expenses		$ 53
Disposed of by sale | Advance Asset Management Limited
Assets and liabilities held for sale
Pre-tax gain on sale	$ 243
Post-tax gain on sale	$ 256

Assets and liabilities held f_4

Assets and liabilities held for sale - Balance sheet presentation (Details) - AUD ($) $ in Millions	Sep. 30, 2022	Mar. 31, 2022
Assets and liabilities held for sale
Total assets held for sale	$ 75	$ 2,700
Total liabilities held for sale	32	684
Held for sale
Assets and liabilities held for sale
Total assets held for sale	75	2,700
Total liabilities held for sale	32	684
Held for sale | Other financial liabilities
Assets and liabilities held for sale
Total liabilities held for sale	31	17
Held for sale | Life insurance liabilities
Assets and liabilities held for sale
Total liabilities held for sale		414
Held for sale | Provisions
Assets and liabilities held for sale
Total liabilities held for sale	1	65
Held for sale | Deferred tax liabilities
Assets and liabilities held for sale
Total liabilities held for sale		3
Held for sale | Other liabilities
Assets and liabilities held for sale
Total liabilities held for sale		185
Held for sale | Cash and balances with central banks
Assets and liabilities held for sale
Total assets held for sale		8
Held for sale | Other financial assets
Assets and liabilities held for sale
Total assets held for sale	20	18
Held for sale | Life insurance assets
Assets and liabilities held for sale
Total assets held for sale		2,479
Held for sale | Deferred tax assets
Assets and liabilities held for sale
Total assets held for sale		43
Held for sale | Intangible assets
Assets and liabilities held for sale
Total assets held for sale	$ 55
Held for sale | Other assets
Assets and liabilities held for sale
Total assets held for sale		$ 152