Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 45

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 45
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    0.01      ​   0.01
Personal                                              2.66               2.21
Business                                              ​    0.08      ​   0.05
Total write-offs net of recoveries to average loans   0.06               0.05
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Write-offs still under enforcement activity
Of the amount of current year write-offs, $664 million for the Group (2024: $596 million) and $609 million (2024: $549 million) for the Parent Entity represent balances that the Group was still entitled to recover.
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 individually assessed and collectively assessed provisions. Collectively assessed provisions are disaggregated into the modelled ECL provision and portfolio overlays.
Portfolio overlays are used to capture areas of potential risk and uncertainty in the portfolio, that are not captured in the underlying modelled ECL.
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                            ​                                ​      ​      ​       ​     ​      ​      ​       ​  
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​                                                            ​            Consolidated   ​           Parent Entity
$m                                                           2025         2024           2025         2024        
Individually assessed provisions                             ​      539   ​        536   ​      459   ​        437
Modelled provision for ECL on loans and credit commitments        4,201          4,369        3,691          3,768
Overlays                                                     238          ​        179   248          197         
Total provision for ECL on loans and credit commitments           4,978          5,084        4,398          4,402
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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. Overlays are used to capture potential risk and uncertainty in the portfolio that are not captured in the underlying modelled ECL. Changes in the modelled provision for ECL and overlays are reflected through the “net remeasurement of provision for ECL” line item.
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FINANCIAL