Westpac provides 1Q20 Capital, Funding and Credit Quality Update

1 min read | February 19, 2020 01:31 PM AEDT | By Team Kalkine Media

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Westpac Banking Corporation (ASX:WBC) has provided with an update on 1Q20 Capital, Funding and Credit Quality.

CET1 capital:

• Common equity Tier 1 (CET1) capital ratio at 31 December 2019 was 10.8%.
• Level 1 common equity Tier 1 (CET1) capital ratio at 31 December 2019 was 11.1%.
• Internationally comparable CET1 capital ratio 16.1% at 31 December 2019

Credit quality:
• WBC has a sound credit quality and its impaired assets was $1.8 billion on 31 December 2019.
• Australian unsecured 90+ day delinquencies rose 5bps to 1.82% majorly due to $0.3 billion decline in the portfolio.
• Total provision balances increased 1.7%.

Australian mortgage portfolio:
• Australian mortgage 90+ day delinquencies dropped 2bps over the previous quarter or 0.86%.
• Properties in possession declined to 472 due to improvement in the housing condition.

Funding/liquidity position:
• Average liquidity coverage ratio (LCR) in 1Q20 was 132% and spot LCR was 130%.
• Net stable funding ratio was 112%.
• $12.4 billion term funding issued to 31 January 2020.

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