Full Year 2024 Westpac Banking Corp Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ed Henning - CLSA Limited - Analyst : Look, I'll start with a couple. Firstly, just on the margin, if you look on slide 61, where you look at the Australian mortgage portfolio, if you look at -- you're growing your investment property lending, you're growing your interest-only lending, but the flows have stepped up quite a lot and you've stepped down on your proprietary channel. Can you just talk about, is that just the impact of RAMS? And can you talk about the impact on margin going forward and what you're seeing in the mortgage market, please, there, as the first question?

Question: Ed Henning - CLSA Limited - Analyst : And do you see that continuing, Peter? And is that going to give you a little bit of a tailwind on your margin?

Question: Ed Henning - CLSA Limited - Analyst : Okay. And just one other question on costs. Can you just clarify the UNITE headwind running into '25? It's currently roughly around $200 million. And then also can you just touch on what you're seeing on the -- or your BAU expectations? And you have -- have you gotten any more amortization headwind coming through as well, so we can just get a feeling of what we should expect for cost growth for next year at this point? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 03, 2024 / 11:00PM, WBC.AX - Full Year 2024 Westpac Banking Corp Earnings Presentation