Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 87

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 87
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 to be refinanced;
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●   Wholesale funding with a residual maturity less than 12 months accounted for 11.6% of Westpac’s total funding at 30 September 2025, up from 11.4% at 30 September 2024. This portfolio, including long-term funding with a residual maturity less than one year, had a weighted average maturity of 153 days; and
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●   Funding from equity increased by $1.0 billion in 2025 and made up 6.9% of total funding at 30 September 2025, down from 7.2% at 30 September 2024, reflecting the impact of the on-market share buyback.
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Borrowings and outstanding issuances from existing debt programs at 30 September 2025 can be found in Note 12, Note 13, Note 14 and Note 19.
Funding for Lending Programme (FLP)
On 11 November 2020, the Reserve Bank of New Zealand (RBNZ) announced a stimulus through the FLP commencing in December 2020. The FLP provided funding to New Zealand banks at the prevailing OCR for a term of three years secured by high quality collateral. The size of the funding available under the FLP included an initial allocation of 4% of each bank’s eligible loans. A conditional additional allocation of up to 2% of eligible loans was also available, subject to growth in eligible loans, for a total size of up to 6% of eligible loans. The programme started on 7 December 2020 and ran until 6 December 2022. During the year, Westpac New Zealand Limited has made scheduled repayments on the programme and as at 30 September 2025 the amount outstanding totalled NZ$1,110 million (30 September 2024: NZ$2,981 million).
Credit ratings
As at 30 September 2025 the Parent Entity’s credit ratings were:

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2025                         Short-term       Long-term       Outlook
Fitch Ratings                F1+          ​   AA-         ​   Stable 
Moody’s Ratings              P-1          ​   Aa2         ​   Stable 
S&amp;P Global Ratings       A-1+         ​   AA-         ​   Stable 
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