1Q22 Overview

  • Unaudited Statutory NPAT of ~$2.3bn in the quarter.
  • Unaudited Cash NPAT of ~$2.2bn in the quarter, with pre-provision profits stable.
  • Income down 1%, or flat excluding the divestment of Aussie Home Loans (AHL), with above system volume growth helping to offset continued margin pressures and lower non-interest income.
  • Expenses down 1%, with lower remediation costs offsetting higher staff expenses.
  • Operating performance flat on the 2H21 quarterly average, and 2% higher than 1Q21.
  • Loan impairment expense of $103m in the quarter, or 5 basis points of average Gross Loans and Acceptances.
  • Credit provisions broadly unchanged, continuing to reflect sound portfolio credit quality and a cautious approach to provisioning as the Australian economy recovers from the impact of COVID-19 restrictions.
  • Strong balance sheet settings maintained, with a customer deposit funding ratio of 74%, NSFR of 131% and LCR of 132%.
  • CET1 Ratio of 12.5% as at 30 September 2021, up 19bpts in the quarter after allowing for $3.5bn in 2H21 final dividend payments to ~870,000 shareholders. Following the successful completion of the Group’s $6bn share buy-back in October, the pro-forma CET1 ratio was 11.2%