Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 15

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 15
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able Items presentationIn prior years, Segment information was presented with a separate line item for Notable Items impacting Operating income and Operating expense for each segments. To align with internal presentation in 2025, Segment results are presented excluding Notable Items, and reconciled at a Group level to the Statutory Profit. Accordingly, prior period presentations have been reclassified to reflect current presentation.
Reportable operating segmentsWe 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, Asia and the Pacific. We operate significant online capability supported by an extensive branch and ATM network, call centres and relationship bankers. Our operations comprise the following key segments:

●   Consumer provides banking products and services to customers in Australia through three lines of business consisting of mortgages, consumer finance and cash and transactional banking.
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●   Business &amp; Wealth comprises Business Banking for customers generally up to $200 million in exposure, Wealth Management, Private Wealth and Westpac Pacific.
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●   Institutional delivers a broad range of financial products and services to corporate, institutional and government customers.
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●   New Zealand provides banking, and wealth products and services for consumer, business and institutional customers in New Zealand.
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●   Group Businesses includes Treasury, Enterprise services and other costs not directly attributable to segments including Corporate Affairs, Finance and HR services, a portion of enterprise technology costs related to UNITE in prior periods, certain customer remediation expenses and enterprise provisions. It also includes Group-wide consolidation entries.
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Changes in Segment Composition
In 2025, the following changes to Segment results were applied:

●   The merchants services business was transferred from Business &amp; Wealth to Institutional given strategic alignment with the management of payments infrastructure;
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●   The contribution from the auto finance portfolio, which was sold in March 2025, was transferred from Business &amp; Wealth to Group Businesses; and
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●   The realignment of Consumer, Business &amp; Wealth and Institutional Human Resources and Finance function expenses to Group Businesses.
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FINANCIAL   EXHIBITS INDEX   STRATEGIC   PERFORMANCE   EXHIBIT 15.4   ADDITIONAL 
REPORT                       REVIEW      REVIEW                       INFORMATION
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Note 2.Segment reporting (Continued)
Results for 2025 reflect the new segment composition. As the impact