20-F/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 20-F/A

(Amendment No. 1)

o	REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
Or
x	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended September 30, 2018
Or
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Or
o	SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 1-10167

WESTPAC BANKING CORPORATION
Australian Business Number 33 007 457 141
(Exact name of Registrant as specified in its charter)

New South Wales, Australia
(Jurisdiction of incorporation or organization)

275 Kent Street, Sydney, NSW 2000, Australia
(Address of principal executive offices)

Westpac Banking Corporation, New York branch,

575 Fifth Avenue, 39th Floor, New York, New York 10017-2422,
Attention: Branch Manager, telephone number: (212) 551-1800

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class	Name of each exchange on which registered
Ordinary shares	Listed on the New York Stock Exchange, not for trading, but only in connection with the registration of related American Depositary Shares, pursuant to the requirements of the New York Stock Exchange.
American Depositary Shares, each representing the right to receive one ordinary share	New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act:  None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: 1.950% Notes due November 23, 2018, Floating Rate Notes due November 23, 2018, 2.25% Notes due January 17, 2019, Floating Rate Notes due January 17, 2019, 1.650% Notes due May 13, 2019, Floating Rate Notes due May 13, 2019, 1.600% Notes due August 19, 2019, Floating Rate Notes due August 19, 2019, 4.875% Notes due November 19, 2019, 2.150% Notes due March 6, 2020, Floating Rate Notes due March 6, 2020, 3.050% Notes due May 15, 2020, Floating Rate Notes due May 15, 2020, 2.30% Notes due May 26, 2020, 2.600% Notes due November 23, 2020, 2.650% Notes due January 25, 2021, Floating Rate Notes due January 25, 2021, 2.100% Notes due May 13, 2021, Floating Rate Notes due May 13, 2021, 2.000% Notes due August 19, 2021, Floating Rate Notes due August 19, 2021, 2.800% Notes due January 11, 2022, Floating Rate Notes due January 11, 2022, 2.500% Notes due June 28, 2022, Floating Rate Notes due June 28, 2022, 2.750% Notes due January 11, 2023, Floating Rate Notes due January 11, 2023, 3.650% Notes due May 15, 2023, Floating Rate Notes due May 15, 2023, 2.850% Notes due May 13, 2026, 2.700% Notes due August 19, 2026, 3.350% Notes due March 8, 2027, 3.400% Notes due January 25, 2028, 4.322% Subordinated Notes due November 23, 2031, 5.000% Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities and notes issued under our Retail Medium-Term Notes program (Registration Statement No. 333-172579)

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

Ordinary shares 3,434,796,711 fully paid

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes x     No o

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes o      No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x     No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes x     No o (not currently applicable to registrant)

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer x Accelerated filer o Non-accelerated filer o Emerging growth company o

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. o

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP o   International Financial Reporting Standards as issued by the International Accounting Standards Board x

Other o

If this is an annual report, indicate by check mark whether the registrant is a shell company.

Yes o      No x

EXPLANATORY NOTE

Westpac Banking Corporation is filing this Amendment No. 1 to its annual report on Form 20-F for the fiscal year ended September 30, 2018 (the “2018 Form 20-F”), which was originally filed with the Securities and Exchange Commission on November 7, 2018, solely for the purposes of adding Exhibit 101 to Item 19 “Exhibits” and furnishing the Interactive Data File disclosure as Exhibit 101 in accordance with Rule 405 of Regulation S-T. Exhibit 101 was not previously filed.

This Amendment No. 1 speaks as of the filing date of the 2018 Form 20-F on November 7, 2018. Other than as expressly set forth above, this Amendment No. 1 does not, and does not purport to, amend, update or restate the information in the 2018 Form 20-F, or reflect any events that have occurred after the 2018 Form 20-F was originally filed.

Item 19. Exhibits Index

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Labels Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

Signatures

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorised the undersigned to sign this Amendment No. 1 to its Annual Report on its behalf.

WESTPAC BANKING CORPORATION

By: /s/ Paddy Rennie

Paddy Rennie
General Counsel - Treasury & Corporate
Dated December 6, 2018

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Document and Entity Information	12 Months Ended
	Sep. 30, 2018 shares
Document and Entity Information [Abstract]
Entity Registrant Name	WESTPAC BANKING CORP
Entity Central Index Key	0000719245
Document Type	20-F/A
Document Period End Date	Sep. 30, 2018
Amendment Flag	true
Amendment Description	Westpac Banking Corporation is filing this Amendment No. 1 to its annual report on Form 20-F for the fiscal year ended September 30, 2018 (the "2018 Form 20-F"), which was originally filed with the Securities and Exchange Commission on November 7, 2018, solely for the purposes of adding Exhibit 101 to Item 19 "Exhibits" and furnishing the Interactive Data File disclosure as Exhibit 101 in accordance with Rule 405 of Regulation S-T. Exhibit 101 was not previously filed. This Amendment No. 1 speaks as of the filing date of the 2018 Form 20-F on November 7, 2018. Other than as expressly set forth above, this Amendment No. 1 does not, and does not purport to, amend, update or restate the information in the 2018 Form 20-F, or reflect any events that have occurred after the 2018 Form 20-F was originally filed.
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	3,434,796,711
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY

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Income statements - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income statements
Interest income	$ 32,571	$ 31,232
Interest expense	(16,066)	(15,716)
Net interest income	16,505	15,516
Non-interest income	5,628	6,286
Net operating income before operating expenses and impairment charges	22,133	21,802
Operating expenses	(9,692)	(9,434)
Impairment charges	(710)	(853)
Profit before income tax	11,731	11,515
Income tax expense	(3,632)	(3,518)
Net profit for the year	8,099	7,997
Net profit attributable to non-controlling interests	(4)	(7)
Net profit attributable to owners of Westpac Banking Corporation	$ 8,095	$ 7,990
Earnings per share
Basic (in dollars per share)	$ 2.375	$ 2.380
Diluted (in dollars per share)	$ 2.301	$ 2.293
Parent Entity
Income statements
Interest income	$ 32,830	$ 30,865
Interest expense	(18,977)	(17,765)
Net interest income	13,853	13,100
Non-interest income	5,825	6,131
Net operating income before operating expenses and impairment charges	19,678	19,231
Operating expenses	(8,101)	(7,898)
Impairment charges	(682)	(870)
Profit before income tax	10,895	10,463
Income tax expense	(2,751)	(2,620)
Net profit for the year	8,144	7,843
Net profit attributable to owners of Westpac Banking Corporation	$ 8,144	$ 7,843

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Statements of comprehensive income - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Statements of comprehensive income
Net profit for the year	$ 8,099	$ 7,997	$ 7,460
Gains/(losses) on available-for-sale securities:
Recognised in equity	(102)	75	56
Transferred to income statements	66	(3)	(8)
Gains/(losses) on cash flow hedging instruments:
Recognised in equity	(161)	(91)	(304)
Transferred to income statements	203	115	21
Movement in foreign currency translation reserve:
Exchange differences on translation of foreign operations	181	(116)	(238)
Transferred to income statements	(3)
Income tax on items taken to or transferred from equity:
Available-for-sale securities reserve	9	(18)	(13)
Cash flow hedge reserve	(13)	(6)	85
Share of associates' other comprehensive income:
Recognised in equity (net of tax)		3	(17)
Transferred to income statements		9
Items that will not be reclassified subsequently to profit or loss
Own credit adjustment on financial liabilities designated at fair value (net of tax)	43	(164)	(54)
Remeasurement of defined benefit obligation recognised in equity (net of tax)	45	190	(47)
Other comprehensive income for the year (net of tax)	268	(6)	(519)
Total comprehensive income for the year	8,367	7,991	6,941
Attributable to:
Owners of Westpac Banking Corporation	8,363	7,984	6,926
Non-controlling interests	4	7	15
Total comprehensive income for the year	8,367	7,991	$ 6,941
Parent Entity
Statements of comprehensive income
Net profit for the year	8,144	7,843
Gains/(losses) on available-for-sale securities:
Recognised in equity	(32)	88
Transferred to income statements	(33)	(3)
Gains/(losses) on cash flow hedging instruments:
Recognised in equity	(125)	(42)
Transferred to income statements	160	19
Movement in foreign currency translation reserve:
Exchange differences on translation of foreign operations	174	(77)
Income tax on items taken to or transferred from equity:
Available-for-sale securities reserve	19	(25)
Cash flow hedge reserve	(10)	7
Items that will not be reclassified subsequently to profit or loss
Own credit adjustment on financial liabilities designated at fair value (net of tax)	43	(164)
Remeasurement of defined benefit obligation recognised in equity (net of tax)	47	182
Other comprehensive income for the year (net of tax)	243	(15)
Total comprehensive income for the year	8,387	7,828
Attributable to:
Owners of Westpac Banking Corporation	8,387	7,828
Total comprehensive income for the year	$ 8,387	$ 7,828

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Balance Sheets - AUD ($) $ in Millions		Sep. 30, 2018	Sep. 30, 2017
Assets
Cash and balances with central banks		$ 26,431	$ 18,397
Receivables due from other financial institutions		5,790	7,128
Trading securities and financial assets designated at fair value		22,134	25,324
Derivative financial instruments		24,101	24,033
Available-for-sale securities		61,119	60,710
Loans		709,690	684,919
Life insurance assets		9,450	10,643
Regulatory deposits with central banks overseas		1,355	1,048
Investment in associates		115	60
Property and equipment		1,329	1,487
Deferred tax assets		1,180	1,112
Intangible assets		11,763	11,652
Other assets		5,135	5,362
Total assets		879,592	851,875
Liabilities
Payables due to other financial institutions		18,137	21,907
Deposits and other borrowings		559,285	533,591
Other financial liabilities at fair value through income statement		4,297	4,056
Derivative financial instruments		24,407	25,375
Debt issues		172,596	168,356
Current tax liabilities		296	308
Life insurance liabilities		7,597	9,019
Provisions	[1]	1,928	1,639
Deferred tax liabilities		18	10
Other liabilities	[1]	9,193	8,606
Total liabilities excluding loan capital		797,754	772,867
Loan capital		17,265	17,666
Total liabilities		815,019	790,533
Net assets/(net liabilities)		64,573	61,342
Share capital:
Ordinary share capital		36,054	34,889
Treasury shares and RSP treasury shares		(493)	(495)
Reserves		1,077	794
Retained profits		27,883	26,100
Total equity attributable to owners of Westpac Banking Corporation		64,521	61,288
Non-controlling interests		52	54
Total shareholders' equity and non-controlling interests		64,573	61,342
Parent Entity
Assets
Cash and balances with central banks		24,726	16,405
Receivables due from other financial institutions		5,711	6,357
Trading securities and financial assets designated at fair value		20,417	22,946
Derivative financial instruments		23,562	23,823
Available-for-sale securities		56,513	55,800
Loans		630,168	606,237
Life insurance assets		0	0
Regulatory deposits with central banks overseas		1,248	945
Due from subsidiaries		140,597	142,455
Investment in subsidiaries		4,508	3,975
Investment in associates		76	46
Property and equipment		1,120	1,250
Deferred tax assets		1,102	1,053
Intangible assets		9,494	9,259
Other assets		3,988	4,318
Total assets		923,230	894,869
Liabilities
Payables due to other financial institutions		17,682	21,775
Deposits and other borrowings		500,468	477,693
Other financial liabilities at fair value through income statement		4,297	4,038
Derivative financial instruments		24,229	24,911
Debt issues		152,288	144,116
Current tax liabilities		184	234
Life insurance liabilities		0	0
Due to subsidiaries		142,400	143,834
Provisions	[1]	1,766	1,472
Deferred tax liabilities		3
Other liabilities	[1]	7,292	6,949
Total liabilities excluding loan capital		850,609	825,022
Loan capital		17,265	17,666
Total liabilities		867,874	842,688
Net assets/(net liabilities)		55,356	52,181
Share capital:
Ordinary share capital		36,054	34,889
Treasury shares and RSP treasury shares		(508)	(437)
Reserves		1,114	858
Retained profits		18,696	16,871
Total equity attributable to owners of Westpac Banking Corporation		55,356	52,181
Total shareholders' equity and non-controlling interests		$ 55,356	$ 52,181

[1] Comparatives have been revised to reclassify compliance, regulation and remediation provisions.

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Statements of changes in equity - AUD ($) $ in Millions		Total equity attributable to owners of Westpac Banking Corporation Parent Entity		Total equity attributable to owners of Westpac Banking Corporation		Share capital Parent Entity	Share capital	Reserves Parent Entity	Reserves	Retained profits Parent Entity		Retained profits		Non-controlling interests	Parent Entity	Total
Balance at the beginning of period at Sep. 30, 2015				$ 53,098			$ 28,895		$ 1,031			$ 23,172		$ 817		$ 53,915
Net profit for the year				7,445								7,445		15		7,460
Net other comprehensive income for the year				(519)					(418)			(101)				(519)
Total comprehensive income for the year				6,926					(418)			7,344		15		6,941
Dividends on ordinary shares	[1]			(6,128)								(6,128)				(6,128)
Dividend reinvestment plan				726			726									726
Share entitlement offer				3,510			3,510									3,510
Share based payment arrangements				116					116							116
Exercise of employee share options and rights				2			2									2
Purchase of shares (net of issue costs)				(49)			(49)									(49)
Net (acquisition)/disposal of treasury shares				(70)			(70)									(70)
Other	[2]			(11)					(2)			(9)		(771)		(782)
Total contributions and distributions				(1,904)			4,119		114			(6,137)		(771)		(2,675)
Balance at the end of period at Sep. 30, 2016		$ 49,201		58,120		$ 33,100	33,014	$ 790	727	$ 15,311		24,379		61		58,181
Net profit for the year		7,843		7,990						7,843		7,990		7	$ 7,843	7,997
Net other comprehensive income for the year		(15)		(6)				(33)	(32)	18		26			(15)	(6)
Total comprehensive income for the year		7,828		7,984				(33)	(32)	7,861		8,016		7	7,828	7,991
Dividends on ordinary shares		(6,301)	[3]	(6,291)	[1]					(6,301)	[3]	(6,291)	[1]			(6,291)	[1]
Dividend reinvestment plan		1,452		1,452		1,452	1,452								1,452	1,452
Share based payment arrangements		101		98				101	98						101	98
Exercise of employee share options and rights		11		11		11	11									11
Purchase of shares (net of issue costs)		(43)		(43)		(43)	(43)									(43)
Net (acquisition)/disposal of treasury shares		(68)		(40)		(68)	(40)									(40)
Other				(3)					1			(4)		(14)		(17)
Total contributions and distributions		(4,848)		(4,816)		1,352	1,380	101	99	(6,301)		(6,295)		(14)		(4,830)
Balance at the end of period at Sep. 30, 2017		52,181		61,288		34,452	34,394	858	794	16,871		26,100		54	52,181	61,342
Net profit for the year		8,144		8,095						8,144		8,095		4	8,144	8,099
Net other comprehensive income for the year		243		268				153	180	90		88			243	268
Total comprehensive income for the year		8,387		8,363				153	180	8,234		8,183		4	8,387	8,367
Dividends on ordinary shares		(6,409)	[3]	(6,400)	[1]					(6,409)	[3]	(6,400)	[1]			(6,400)	[1]
Dividend reinvestment plan		631		631		631	631								631	631
Conversion of Convertible Preference Shares		566		566		566	566									566
Share based payment arrangements		103		103				103	103						103	103
Exercise of employee share options and rights		3		3		3	3									3
Purchase of shares (net of issue costs)		(35)		(35)		(35)	(35)									(35)
Net (acquisition)/disposal of treasury shares		(71)		2		(71)	2									2
Other														(6)		(6)
Total contributions and distributions		(5,212)		(5,130)		1,094	1,167	103	103	(6,409)		(6,400)		(6)		(5,136)
Balance at the end of period at Sep. 30, 2018		$ 55,356		$ 64,521		$ 35,546	$ 35,561	$ 1,114	$ 1,077	$ 18,696		$ 27,883		$ 52	$ 55,356	$ 64,573

[1] 2018 comprises 2018 interim dividend 94 cents per share ($3,213 million) and 2017 final dividend 94 cents per share ($3,187 million), (2017: 2017 interim dividend 94 cents per share ($3,150 million) and 2016 final dividend 94 cents per share ($3,141 million), 2016: 2016 interim dividend 94 cents ($3,130 million) and 2015 final dividend 94 cents per share ($2,998 million)), all fully franked at 30%.

[2] On 30 June 2016 the 2006 TPS were redeemed in full.

[3] 2018 comprises 2018 interim dividend 94 cents per share ($3,218 million) and 2017 final dividend 94 cents per share ($3,191 million) (2017: 2017 interim dividend 94 cents per share ($3,156 million) and 2016 final dividend 94 cents per share ($3,145 million)), all fully franked at 30%.

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Statements of changes in equity (Parenthetical) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Interim dividend (in dollars per share)	$ 0.94	$ 0.94	$ 0.94
Interim dividend	$ 3,213	$ 3,150	$ 3,130
Final dividend (in dollars per share)		$ 0.94		$ 0.94
Final dividend		$ 3,187	$ 3,141	$ 2,998
Dividend tax rate (as a percent)	30.00%	30.00%	30.00%	30.00%
Parent Entity
Interim dividend (in dollars per share)	$ 0.94	$ 0.94
Interim dividend	$ 3,218	$ 3,156
Final dividend (in dollars per share)		$ 0.94	$ 0.94
Final dividend		$ 3,191	$ 3,145
Dividend tax rate (as a percent)	30.00%	30.00%	30.00%

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Cash flow statements - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Interest received	$ 32,639	$ 31,133	$ 31,817
Interest paid	(15,789)	(15,415)	(16,721)
Dividends received excluding life business	9	27	43
Other non-interest income received	5,097	5,064	5,050
Operating expenses paid	(7,991)	(7,966)	(8,106)
Income tax paid excluding life business	(3,585)	(3,388)	(3,373)
Life business:
Receipts from policyholders and customers	2,008	2,239	1,893
Interest and other items of similar nature	17	24	30
Dividends received	642	433	348
Payments to policyholders and suppliers	(2,089)	(1,861)	(1,642)
Income tax paid	(143)	(164)	(96)
Cash flows from operating activities before changes in operating assets and liabilities	10,815	10,126	9,243
Net (increase)/decrease in:
Trading securities and financial assets designated at fair value	3,827	(5,054)	6,755
Loans	(24,740)	(26,815)	(38,082)
Receivables due from other financial institutions	1,678	2,653	(896)
Life insurance assets and liabilities	(230)	219	(253)
Regulatory deposits with central banks overseas	(303)	308	(209)
Derivative financial instruments	8,584	(5,042)	(5,107)
Other assets	160	200	(476)
Net increase/(decrease) in:
Other financial liabilities at fair value through income statement	243	(681)	(4,488)
Deposits and other borrowings	23,928	23,062	38,771
Payables due to other financial institutions	(4,072)	3,859	(73)
Other liabilities	(88)	(15)	312
Net cash provided by/(used in) operating activities	19,802	2,820	5,497
Cash flows from investing activities
Proceeds from available-for-sale securities	23,878	25,717	18,779
Purchase of available-for-sale securities	(24,376)	(27,028)	(24,724)
Proceeds/(Payments) on disposal of controlled entities, net of cash disposed	9		(104)
Proceeds from sale of associates		630
Purchase of associates	(30)	(52)
Proceeds from disposal of property and equipment	91	65	32
Purchase of property and equipment	(310)	(264)	(521)
Purchase of intangible assets	(882)	(766)	(707)
Net cash provided by/(used in) investing activities	(1,620)	(1,698)	(7,245)
Cash flows from financing activities
Issue of loan capital (net of issue costs)	2,342	4,437	3,596
Redemption of loan capital	(2,387)	(2,188)	(1,444)
Net increase/(decrease) in debt issues	(5,242)	3,249	5,213
Proceeds from Share Entitlement Offer			3,510
Proceeds from exercise of employee options	3	11	2
Purchase of shares on exercise of employee options and rights	(8)	(17)	(24)
Shares purchased for delivery of employee share plan	(27)	(27)	(27)
Purchase of RSP treasury shares	(71)	(68)	(62)
Net sale/(purchase) of other treasury shares	73	7	(8)
Payment of dividends	(5,769)	(4,839)	(5,402)
Payment of distributions to non-controlling interests	(6)	(13)	(18)
Redemption of 2006 Trust Preferred Securities			(763)
Net cash provided by/(used in) financing activities	(11,092)	552	4,573
Net increase/(decrease) in cash and cash equivalents	7,090	1,674	2,825
Effect of exchange rate changes on cash and cash equivalents	944	(292)	(580)
Cash and cash equivalents as at the beginning of the year	18,397	17,015	14,770
Cash and cash equivalents as at the end of the year	26,431	18,397	17,015
Parent Entity
Cash flows from operating activities
Interest received	32,947	30,784
Interest paid	(18,728)	(17,458)
Dividends received excluding life business	2,016	1,861
Other non-interest income received	3,926	4,457
Operating expenses paid	(6,637)	(6,748)
Income tax paid excluding life business	(3,349)	(3,192)
Life business:
Cash flows from operating activities before changes in operating assets and liabilities	10,175	9,704
Net (increase)/decrease in:
Trading securities and financial assets designated at fair value	3,150	(5,194)
Loans	(23,661)	(27,677)
Receivables due from other financial institutions	987	1,817
Regulatory deposits with central banks overseas	(299)	294
Derivative financial instruments	8,263	(5,378)
Other assets	210	136
Net increase/(decrease) in:
Other financial liabilities at fair value through income statement	261	(325)
Deposits and other borrowings	20,783	22,518
Payables due to other financial institutions	(4,396)	3,792
Other liabilities	(196)	78
Net cash provided by/(used in) operating activities	15,277	(235)
Cash flows from investing activities
Proceeds from available-for-sale securities	21,525	23,707
Purchase of available-for-sale securities	(22,230)	(24,820)
Net movement in amounts due to/from controlled entities	923	2,999
Net (increase)/decrease in investments in controlled entities	(577)	640
Purchase of associates	(30)	(46)
Proceeds from disposal of property and equipment	62	55
Purchase of property and equipment	(251)	(203)
Purchase of intangible assets	(823)	(692)
Net cash provided by/(used in) investing activities	(1,401)	1,640
Cash flows from financing activities
Issue of loan capital (net of issue costs)	2,342	4,437
Redemption of loan capital	(2,387)	(2,188)
Net increase/(decrease) in debt issues	(565)	2,746
Proceeds from exercise of employee options	3	11
Purchase of shares on exercise of employee options and rights	(8)	(17)
Shares purchased for delivery of employee share plan	(27)	(27)
Purchase of RSP treasury shares	(71)	(68)
Payment of dividends	(5,778)	(4,849)
Net cash provided by/(used in) financing activities	(6,491)	45
Net increase/(decrease) in cash and cash equivalents	7,385	1,450
Effect of exchange rate changes on cash and cash equivalents	936	(231)
Cash and cash equivalents as at the beginning of the year	16,405	15,186
Cash and cash equivalents as at the end of the year	$ 24,726	$ 16,405	$ 15,186

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Financial statements preparation

12 Months Ended

Sep. 30, 2018

Financial statements preparation

Financial statements preparation

Note 1. Financial statements preparation

This financial report of Westpac Banking Corporation (the Parent Entity), together with its controlled entities (the Group or Westpac), for the year ended 30 September 2018 was authorised for issue by the Board of Directors on 5 November 2018. The Directors have the power to amend and reissue the financial report.

The principal accounting policies are set out below and in the relevant notes to the financial statements. The accounting policy for the recognition and derecognition of financial assets and financial liabilities precedes Note 10. These accounting policies provide details of the accounting treatments adopted for complex balances and where accounting standards provide policy choices. These policies have been consistently applied to all the years presented, unless otherwise stated.

a.Basis of preparation

(i)Basis of accounting

This financial report is a general purpose financial report prepared in accordance with:

§ the requirements for an authorised deposit-taking institution under the Banking Act 1959 (as amended);

§ Australian Accounting Standards (AAS) and Interpretations as issued by the Australian Accounting Standards Board (AASB); and

§ the Corporations Act 2001.

Westpac Banking Corporation is a for-profit entity for the purposes of preparing this financial report.

The financial report also complies with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and Interpretations as issued by the IFRS Interpretations Committee (IFRIC). It also includes additional disclosures required for foreign registrants by the United States Securities and Exchange Commission (US SEC).

All amounts have been rounded in accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, to the nearest million dollars, unless otherwise stated.

(ii)Historical cost convention

The financial report has been prepared under the historical cost convention, as modified by applying fair value accounting to available-for-sale securities, and financial assets and liabilities (including derivative instruments) measured at fair value through income statement or in other comprehensive income.

(iii)Comparative revisions

Comparative information has been revised where appropriate to conform to changes in presentation in the current year and to enhance comparability.

(iv)Standards adopted during the year ended 30 September 2018

The Group adopted the requirements of AASB 2016-2-Amendments to Australian Accounting Standards – Disclosure Initiative: Amendments to AASB 107 which require additional disclosures regarding both cash and non-cash changes in liabilities arising from financing activities. These disclosures have been made in Note 19 and Note 20. As permitted by the standard, comparatives are not required on first application.

There were no other new standards applied in 2018.

(v)Business combinations

Business combinations are accounted for using the acquisition method of accounting. Acquisition cost is measured as the aggregate of the fair value at the date of acquisition of the assets given, equity instruments issued or liabilities incurred or assumed. Acquisition-related costs are expensed as incurred (except for those costs arising on the issue of equity instruments which are recognised directly in equity).

Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured at fair value on the acquisition date. Goodwill is measured as the excess of the acquisition cost, the amount of any non-controlling interest and the fair value of any previous Westpac equity interest in the acquiree, over the fair value of the identifiable net assets acquired.

(vi)Foreign currency translation

Functional and presentational currency

The consolidated financial statements are presented in Australian dollars which is the Parent Entity’s functional and presentation currency. The functional currency of offshore entities is usually the main currency of the economy it operates in.

Transactions and balances

Foreign currency transactions are translated into the functional currency of the relevant branch or subsidiary using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement, except when deferred in other comprehensive income for qualifying cash flow hedges and qualifying net investment hedges.

Foreign operations

Assets and liabilities of foreign branches and subsidiaries that have a functional currency other than the Australian dollar are translated at exchange rates prevailing on the balance date. Income and expenses are translated at average exchange rates prevailing during the year. Equity balances are translated at historical exchange rates. The resulting exchange differences are recognised in the foreign currency translation reserve and in other comprehensive income.

On consolidation, exchange differences arising from the translation of borrowings and other foreign currency instruments designated as hedges of the net investment in foreign operations are reflected in the foreign currency translation reserve and in other comprehensive income. When all or part of a foreign operation is disposed or borrowings that are part of the net investments are repaid, a proportionate share of such exchange differences is recognised in the income statement as part of the gain or loss on disposal or repayment of borrowing.

b.Critical accounting assumptions and estimates

Applying the Group’s accounting policies requires the use of judgement, assumptions and estimates which impact the financial information. The significant assumptions and estimates used are discussed in the relevant notes below:

§ Note 7       Income tax

§ Note 14     Provisions for impairment charges

§ Note 15     Life insurance assets and life insurance liabilities

§ Note 23     Fair values of financial assets and financial liabilities

§ Note 26     Intangible assets

§ Note 28     Provisions

§ Note 38     Superannuation commitments

c.Future developments in accounting standards

The following new standards and interpretations which may have a material impact on the Group have been issued but are not yet effective, and unless otherwise stated, have not been early adopted by the Group:

AASB 9 Financial Instruments (December 2014) (AASB 9) will replace AASB 139 Financial Instruments: Recognition and Measurement (AASB 139). It includes a forward looking ‘expected credit loss’ impairment model, revised classification and measurement model and modifies the approach to hedge accounting. The standard is effective from 1 October 2018.

The adoption of AASB 9 is expected to reduce retained earnings at 1 October 2018 by approximately $709 million (net of tax) primarily due to the increase in impairment provisions under the new standard. The Group continues to assess and refine certain aspects of our impairment provision process and the opening adjustment may change. There is no significant impact to our regulatory capital. These estimates are based on accounting policies, assumptions, judgements and estimation techniques that remain subject to change until the Group finalises its financial statements for the year ending 30 September 2019.

The major changes under the standard and details of the implementation project are outlined below.

Impairment

AASB 9 introduces a revised impairment model which requires entities to recognise expected credit losses based on unbiased forward looking information, replacing the existing incurred loss model in AASB 139 which only recognises impairment if there is objective evidence that a loss has been incurred. This will result in the earlier recognition of impairment provisions. The revised impairment model applies to all financial assets at amortised cost, lease receivables, debt securities measured at fair value through other comprehensive income, loans commitments and financial guarantee contracts.

Key elements of the new impairment model are:

§ requires earlier recognition of expected credit losses using a three stage approach. For financial assets where there has been no significant increase in credit risk since origination a provision for 12 months expected credit losses is required (stage 1). For financial assets where there has been a significant increase in credit risk or where the asset is credit impaired a provision for full lifetime expected losses is required (stages 2 and 3 respectively);

§ expected credit losses are probability-weighted amounts determined by evaluating a range of possible outcomes and taking into account the time value of money, past events, current conditions and forecasts of future economic conditions. This will involve a greater use of judgement than the existing impairment model; and

§ interest is calculated on the gross carrying amount of a financial asset, except where the asset is credit impaired (i.e. stage 3). This will result in an increase in interest income and impairment charges as currently interest is calculated on the net carrying value for all loans.

Implementation

Measurement

Models have been developed, tested and approved while certain aspects of the impairment provisioning process continue to be assessed and refined. These models use three main components (as well as the time value of money) being:

§ Probability of default (PD): the probability that a counterparty will default;

§ Loss given default (LGD): the loss that is expected to arise in the event of a default; and

§ Exposure at default (EAD): the estimated outstanding amount of credit exposure at the time of the default.

The models use a 12 month timeframe for expected losses in stage 1 and a lifetime timeframe for expected losses in stages 2 and 3. The models incorporate past experience, current conditions and multiple probability-weighted macroeconomic scenarios for reasonably supportable future economic conditions. Where appropriate, adjustments will be made to modelled outcomes to reflect reasonable and supportable information not already incorporated in the models.

Significant increase in credit risk and movement between stages

An asset will move from stage 1 to stage 2 if there has been a significant increase in credit risk since origination.

The judgement to determine this will be primarily based on changes in internal customer risk grades since origination of the facility.  The Group does not intend to rebut the presumption that instruments that are 30 days past due have experienced a significant increase in risk but this will be used as a backstop rather than the primary indicator.

The Group will not be applying the low credit risk exemption which assumes investment grade facilities do not have a significant increase in credit risk.

The movement between stages 2 and 3 will be based on whether financial assets are credit-impaired at the reporting date which is expected to be similar to the individual assessment of impairment for financial assets under the current AASB 139.

Assets may move in both directions through the stages of the impairment model. Assets previously in stage 2 may move back to stage 1 if it is no longer considered that there has been a significant deterioration of credit risk. Similarly, assets in stage 3 may move back to stage 2 if they are no longer assessed to be credit-impaired.

Forward looking information

The estimation of forward looking information is a key area requiring judgement. The Group intends to consider a minimum of three future macroeconomic scenarios. These will include a base case scenario along with upside and downside scenarios. The macroeconomic variables used in these scenarios, based on current economic forecasts, include (but are not limited to) unemployment rates, gross domestic product growth rates and residential and commercial property price indices. The macroeconomic variables and probability weightings of the three scenarios will be subject to the approval of the Group Chief Financial Officer and the Chief Risk Officer with oversight from the Board of Directors (and its Committees).

Governance

The Group has established a governance framework and has implemented controls to address disclosure of the impact of the new requirements of AASB 9 including key areas of judgement such as the determination of a significant increase in credit risk and the use of forward looking information in future economic scenarios along with the controls addressing credit data and systems and the expected credit loss models.

The AASB 9 provision calculation models have been independently reviewed in accordance with the Group’s model risk policies and approved by the Credit Risk Estimates Committee (CREC). The key judgements in relation to the new provisioning methodology have been discussed and agreed with the Board Risk and Compliance Committee (BRCC) and the Board Audit Committee.

Models and credit risk processes have been tested in parallel run since May 2018 to provide a better understanding of the implications of the new impairment requirements. This included an evaluation of the effect on the Group’s results as well as ongoing validation of the controls and effectiveness of the governance and operational processes. The control environment will continue to evolve as the Group embeds processes and controls during the financial year ending 30 September 2019.

Classification and measurement

AASB 9 replaces the classification and measurement model in AASB 139 with a new model that categorises financial assets based on a) the business model within which the assets are managed, and b) whether the contractual cash flows under the instrument solely represent the payment of principal and interest. Financial assets will be measured at:

§ amortised cost where the business model is to hold the financial assets in order to collect contractual cash flows and those cash flows represent solely payments of principal and interest;

§ fair value through other comprehensive income where the business model is to both collect contractual cash flows and sell financial assets and the cash flows represent solely payments of principal and interest. Non-traded equity instruments can also be measured at fair value through other comprehensive income; or

§ fair value through profit or loss if they are held for trading or if the cash flows on the asset do not solely represent payments of principal and interest. An entity can also elect to measure a financial asset at fair value through profit or loss if it eliminates or reduces an accounting mismatch.

The accounting for financial liabilities is largely unchanged.

Implementation

The Group’s classification and measurement implementation project has identified approximately $800 million of available-for-sale financial assets which will be reclassified to amortised cost under AASB 9 based on the hold to collect business model. In addition, the Group identified some available-for-sale and amortised cost financial assets that will be reclassified to fair value through profit and loss, however, the amounts being reclassified are not material.

Hedging

AASB 9 will change hedge accounting by increasing the eligibility of both hedged items and hedging instruments and introducing a more principles-based approach to assessing hedge effectiveness. Adoption of the new hedge accounting model is optional until the IASB completes its accounting for dynamic risk management project. Until this time, current hedge accounting under AASB 139 can continue to be applied.

Implementation

The Group will apply the option to continue hedge accounting under AASB 139, however will implement the amended AASB7 Financial Instruments: Disclosure (AASB7) hedge accounting disclosures as required.

Transition

The impairment and classification and measurement requirements of AASB 9 will be applied retrospectively by adjusting the opening balance sheet at the date of initial application, 1 October 2018, with no restatement of comparatives as permitted by the standard. However, detailed transitional disclosures will be provided in accordance with the amended requirements of AASB 7.

AASB 15 Revenue from Contracts with Customers (AASB 15) was issued on 28 May 2014 and will be effective from 1 October 2018. The standard replaces AASB 118 Revenue and related interpretations, and applies to all contracts with customers, except leases, financial instruments and insurance contracts. The standard provides a systematic approach to revenue recognition by introducing a five-step model governing revenue measurement and recognition. This includes:

§ identifying the contract with customer;

§ identifying each of the performance obligations included in the contract;

§ determining the amount of consideration in the contract;

§ allocating the consideration to each of the identified performance obligations; and

§ recognising revenue as each performance obligation is satisfied.

The Group will elect to apply AASB 15 retrospectively by adjusting the opening balance of retained earnings at the date of initial application, 1 October 2018, with no comparatives restatement.

The Group has assessed the revenue streams existing at transition. Based on this assessment, the primary impacts from the adoption of AASB 15 are expected to be a grossing up of some income and expenses which are currently reported on a net basis. In addition, certain facility fees will be reclassified from non-interest income to interest income. These presentation changes will not have a material impact on the Group’s net profit, retained earnings or capital position.

AASB 16 Leases (AASB 16) was issued on 24 February 2016 and will be effective for the 30 September 2020 financial year. The standard will not result in significant changes for lessor accounting. The main changes under the standard are:

§ all operating leases of greater than 12 months duration will be required to be presented on balance sheet by the lessee as a right-of-use asset and lease liability. The asset and liability will initially be measured at the present value of non-cancellable lease payments and payments to be made in optional periods where it is reasonably certain that the option will be exercised. Details of the Group’s lease obligations are included in Note 30; and

§ all leases on balance sheet will give rise to a combination of interest expense on the lease liability and depreciation of the right-of-use asset.

Alternative methods of calculating the right-of-use asset are allowed under AASB 16 which impact the size of the transition adjustment. The Group is still evaluating which transition method to apply.

Current project implementation efforts are focused on the review and evaluation of contracts within scope of the standard.

AASB 17 Insurance Contracts (AASB 17) was issued on 19 July 2017 and will be effective for the 30 September 2022 year end unless early adopted. This will replace AASB 4 Insurance Contracts, AASB 1023 General Insurance Contracts and AASB 1038 Life Insurance Contracts. The main changes under the standard are:

§ the scope of the standard may result in some contracts that are currently “unbundled”, i.e. accounted for separately as insurance and investment contracts being required to be “bundled” and accounted for as an insurance contract;

§ portfolios of contracts (with similar risks which are managed together) will be required to be disaggregated to a more granular level by both the age of a contract and the likelihood of the contract being onerous in order to determine the recognition of profit over the contract period (i.e. the contractual service margin). The contractual service margin uses a different basis to recognise profit to the current Margin on Services approach for life insurance and therefore the pattern of profit recognition is likely to differ;

§ risk adjustments, which reflect uncertainties in the amount and timing of future cash flows, are required for both general and life insurance contracts rather than just general insurance contracts under the current accounting standards;

§ the contract boundary, which is the period over which profit is recognised, differs and is determined based on the ability to compel the policyholder to pay premiums or the substantive obligation to provide coverage/services. For some general insurance contracts (e.g. some lender mortgage insurance and reinsurance contracts) this may result in the contract boundary being longer. For life insurance, in particular term renewable contracts, the contract boundary is expected to be shorter. Both will be impacted by different patterns of profit recognition compared to the current standards;

§ a narrower definition of what acquisition costs may be deferred;

§ an election to recognise changes in assumptions regarding discount rate in other comprehensive income rather than in profit and loss;

§ an election to recognise changes in the fair value of assets supporting policy liabilities in other comprehensive income rather than through profit and loss;

§ reinsurance contracts and the associated liability are to be determined separately to the gross contract liability and may have different contract boundaries; and

§ additional disclosure requirements.

The standard is expected to result in a reduction in the level of deferred acquisition costs, however the quantum of this and the profit and loss impacts to the Group are not yet practicable to determine.

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Segment reporting

12 Months Ended

Sep. 30, 2018

Segment reporting

Segment reporting

Note 2. Segment reporting

Accounting policy

Operating segments are presented on a basis consistent with information provided internally to Westpac’s key decision makers and reflects the management of the business, rather than the legal structure of the Group. Internally, Westpac uses ‘cash earnings’ in assessing the financial performance of its divisions. Management believes this allows the Group to:
§	more effectively assess current year performance against prior years;
§	compare performance across business divisions; and
§	compare performance across peer companies.
Cash earnings is viewed as a measure of the level of profit that is generated by ongoing operations and is therefore considered in assessing distributions, including dividends. Cash earnings is neither a measure of cash flow nor net profit determined on a cash accounting basis, as it includes both cash and non-cash adjustments to statutory net profit. To determine cash earnings, three categories of adjustments are made to statutory results:
§	material items that key decision makers at the Westpac Group believe do not reflect ongoing operations;
§	items that are not considered when dividends are recommended, such as the amortisation of intangibles, impact of Treasury shares and economic hedging; and
§	accounting reclassifications between individual line items that do not impact statutory results.
Internal charges and transfer pricing adjustments have been reflected in the performance of each operating segment. Inter-segment pricing is determined on an arm’s length basis.

Reportable operating segments

The operating segments are defined by the customers they service and the services they provide:

§ Consumer Bank (CB):

- responsible for sales and service of banking and financial products and services;

- customer base is consumer in Australia; and

- operates under the Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands.

§ Business Bank (BB):

- responsible for sales and service of banking and financial products and services;

- customer base is SME and commercial business customers in Australia for facilities up to approximately $150 million; and

- operates under the Westpac, St.George, BankSA and Bank of Melbourne brands.

§ BT Financial Group (Australia) (BTFG):

- Westpac’s Australian wealth management and insurance division;

- services include the manufacturing and distribution of investment, superannuation and retirement products, wealth administration platforms, private wealth, margin lending and equities broking;

- BTFG’s insurance business covers the manufacturing and distribution of life, general and lenders mortgage insurance;

- in addition to the BT brand, BTFG operates a range of financial services brands along with the banking brands of Westpac, St.George, Bank of Melbourne and BankSA for Private Wealth and Insurance.

§ Westpac Institutional Bank (WIB):

- Westpac’s institutional financial services division delivering a broad range of financial products and services;

- services include transactional banking, financial and debt capital markets, specialised capital, and alternative investment solutions;

- customer base includes commercial, corporate, institutional and government customers;

- customers are supported throughout Australia, as well as via branches and subsidiaries located in New Zealand, US, UK and Asia; and

- also responsible for Westpac Pacific, providing a range of banking services in Fiji and Papua New Guinea.

§ Westpac New Zealand:

- responsible for sales and service of banking, wealth and insurance products to customers in New Zealand;

- customer base includes consumers, business and institutional customers; and

- operates under the Westpac brand for banking products, the Westpac Life brand for life insurance products and the BT brand for wealth products.

§ Group Businesses include:

- Treasury, which is responsible for the management of the Group’s balance sheet including wholesale funding, capital and management of liquidity. Treasury also manages the interest rate risk and foreign exchange risks inherent in the balance sheet, including managing the mismatch between Group assets and liabilities. Treasury’s earnings are primarily sourced from managing the Group’s balance sheet and interest rate risk, (excluding Westpac New Zealand) within set risk limits;

- Group Technology1, which comprises functions for the Australian businesses, is responsible for technology strategy and architecture, infrastructure and operations, applications development and business integration;

- Core Support2, which comprises functions performed centrally, including Australian banking operations, property services, strategy, finance, risk, compliance, legal, human resources, and customer and corporate relations; and

- Group Businesses also includes earnings on capital not allocated to divisions, for certain intra-group transactions that facilitate presentation of performance of the Group’s operating segments, earnings from non-core asset sales, earnings and costs associated with the Group’s fintech investments, and certain other head office items such as centrally held provisions.

Revisions to segment allocations

In 2018, Westpac implemented a number of changes to the presentation of its divisional financial information. These changes have no impact on the Group’s overall results or balance sheet but impact divisional results and balance sheets. Comparative divisional financial information has been restated for these changes.

The changes include updates to the methodologies to allocate certain costs, revenues and capital to the divisions. These changes can be summarised as:

1. Allocating additional capital from Group Businesses to operating divisions, following greater clarity from APRA on updates to its capital framework;

2. Updating the Group’s cost of funds transfer pricing methodology, including the allocation of revenue from balance sheet management activities;

3. Realigning divisional earnings and balance sheet disclosures for recent customer transfers; and

4. Refining expense allocations to improve the allocation of support costs to divisions.

1Costs are fully allocated to other divisions in the Group.

2Costs are partially allocated to other divisions in the Group, with costs attributed to enterprise activity retained in Group Businesses.

The following tables present the segment results on a cash earnings basis for the Group:1

2018			BT
			Financial	Westpac	Westpac			Net cash
	Consumer	Business	Group	Institutional	New	Group		earnings	Income
$m	Bank	Bank	(Australia)	Bank	Zealand	Businesses	Total	adjustment	Statement
Net interest income	7,748	4,065	578	1,416	1,720	812	16,339	166	16,505
Non-interest income	746	1,189	1,648	1,556	438	35	5,612	16	5,628
Net operating income before operating expenses and impairment charges	8,494	5,254	2,226	2,972	2,158	847	21,951	182	22,133
Operating expenses	(3,542)	(1,876)	(1,291)	(1,446)	(860)	(571)	(9,586)	(106)	(9,692)
Impairment (charges)/benefits	(451)	(291)	(6)	38	(2)	2	(710)	-	(710)
Profit before income tax	4,501	3,087	929	1,564	1,296	278	11,655	76	11,731
Income tax expense	(1,361)	(928)	(284)	(473)	(362)	(178)	(3,586)	(46)	(3,632)
Net profit attributable to non-controlling interests	-	-	-	(5)	-	1	(4)	-	(4)
Cash earnings for the year	3,140	2,159	645	1,086	934	101	8,065	30	8,095
Net cash earnings adjustments	(15)	(2)	(73)	-	13	107	30
Net profit attributable to owners of Westpac Banking Corporation	3,125	2,157	572	1,086	947	208	8,095
Additional information
Depreciation, amortisation and impairments	(173)	(71)	(78)	(274)	(81)	(467)	(1,144)
Balance Sheet
Total assets	392,495	156,523	34,923	102,380	82,424	110,847	879,592
Total liabilities	212,472	114,137	42,500	126,620	72,078	247,212	815,019
Additions of property and
equipment and intangible assets	363	94	96	88	99	452	1,192

2017			BT
			Financial	Westpac	Westpac			Net cash
	Consumer	Business	Group	Institutional	New	Group		earnings	Income
$m	Bank	Bank	(Australia)	Bank	Zealand	Businesses	Total	adjustment	Statement
Net interest income	7,638	3,885	511	1,328	1,629	713	15,704	(188)	15,516
Non-interest income	813	1,141	1,744	1,707	480	(33)	5,852	434	6,286
Net operating income before operating expenses and impairment charges	8,451	5,026	2,255	3,035	2,109	680	21,556	246	21,802
Operating expenses	(3,378)	(1,818)	(1,199)	(1,351)	(903)	(456)	(9,105)	(329)	(9,434)
Impairment (charges)/benefits	(565)	(343)	(4)	(56)	72	43	(853)	-	(853)
Profit before income tax	4,508	2,865	1,052	1,628	1,278	267	11,598	(83)	11,515
Income tax expense	(1,353)	(862)	(316)	(462)	(361)	(175)	(3,529)	11	(3,518)
Net profit attributable to non-controlling interests	-	-	-	(7)	-	-	(7)	-	(7)
Cash earnings for the year	3,155	2,003	736	1,159	917	92	8,062	(72)	7,990
Net cash earnings adjustments	(116)	(10)	160	-	(14)	(92)	(72)
Net profit attributable to owners of Westpac Banking Corporation	3,039	1,993	896	1,159	903	-	7,990
Additional information
Depreciation, amortisation and impairments1	(335)	(79)	(49)	(206)	(86)	(514)	(1,269)
Balance Sheet
Total assets	377,457	153,078	35,237	103,080	81,285	101,738	851,875
Total liabilities	202,689	111,385	41,431	118,875	71,432	244,721	790,533
Additions of property and
equipment and intangible assets	276	54	93	55	85	442	1,005

1Comparatives have been revised for consistency.

2016			BT
			Financial	Westpac	Westpac			Net cash
	Consumer	Business	Group	Institutional	New	Group		earnings	Income
$m	Bank	Bank	(Australia)	Bank	Zealand	Businesses	Total	adjustment	Statement
Net interest income	7,268	3,766	460	1,421	1,606	827	15,348	(200)	15,148
Non-interest income	863	1,089	1,908	1,537	483	8	5,888	(51)	5,837
Net operating income before operating expenses and impairment charges	8,131	4,855	2,368	2,958	2,089	835	21,236	(251)	20,985
Operating expenses	(3,312)	(1,774)	(1,184)	(1,374)	(889)	(398)	(8,931)	(286)	(9,217)
Impairment (charges)/benefits	(516)	(386)	-	(177)	(54)	9	(1,124)	-	(1,124)
Profit before income tax	4,303	2,695	1,184	1,407	1,146	446	11,181	(537)	10,644
Income tax expense	(1,292)	(810)	(352)	(421)	(321)	(148)	(3,344)	160	(3,184)
Net profit attributable to
non-controlling interests	-	-	-	(7)	-	(8)	(15)	-	(15)
Cash earnings for the year	3,011	1,885	832	979	825	290	7,822	(377)	7,445
Net cash earnings adjustments	(116)	(10)	(32)	-	2	(221)	(377)
Net profit attributable to owners of Westpac Banking Corporation	2,895	1,875	800	979	827	69	7,445
Additional information
Depreciation, amortisation and impairments	(282)	(65)	(67)	(188)	(102)	(524)	(1,228)
Balance Sheet
Total assets1	359,228	148,904	38,217	110,616	82,071	100,166	839,202
Total liabilities	191,027	106,046	40,792	125,931	72,408	244,817	781,021
Additions of property and
equipment and intangible assets	178	83	88	459	96	417	1,321

1Total assets for BT Financial Group (Australia) include the equity accounted carrying value of the investment in Pendal Group Limited of $718 million.

Reconciliation of cash earnings to net profit

$m	2018	2017	2016
Cash earnings for the year	8,065	8,062	7,822
Cash earning adjustments:
Adjustments relating to Pendal (BTIM)1	(73)	171	-
Amortisation of intangible assets	(17)	(137)	(158)
Acquisition, transaction and integration expenses	-	-	(15)
Fair value gain/(loss) on economic hedges	126	(69)	(203)
Ineffective hedges	(13)	(16)	9
Treasury shares	7	(21)	(10)
Total cash earnings adjustments	30	(72)	(377)
Net profit attributable to owners of Westpac Banking Corporation	8,095	7,990	7,445

Further details of the above cash earnings adjustments, which are all net of tax, are provided in Divisional performance in Section 2.

Revenue from products and services

Details of revenue from external customers by product or service are disclosed in Notes 3 and 4. No single customer amounted to greater than 10% of the Group’s revenue.

Geographic segments

Geographic segments are based on the location of the office where the following items were recognised:

	2018		2017		2016
	$m	%	$m	%	$m	%
Revenue
Australia	32,696	85.6	32,328	86.2	32,868	87.3
New Zealand	4,406	11.5	4,360	11.6	4,158	11.0
Other overseas2	1,097	2.9	830	2.2	633	1.7
Total	38,199	100.0	37,518	100.0	37,659	100.0
Non-current assets3
Australia	12,271	93.7	12,326	93.8	12,607	93.7
New Zealand	756	5.8	745	5.7	774	5.8
Other overseas2	65	0.5	68	0.5	77	0.5
Total	13,092	100.0	13,139	100.0	13,458	100.0

1Pendal Group Limited (Pendal), formerly BT Investment Management (BTIM).

2Other included Pacific Islands, Asia, the Americas and Europe.

3Non-current assets represent property and equipment and intangible assets.

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Net interest income

12 Months Ended

Sep. 30, 2018

Net interest income

Net interest income

Note 3. Net interest income

Accounting policy

Interest income and expense for all interest earning financial assets and interest bearing financial liabilities, detailed within the table below, are recognised using the effective interest rate method. Net income from treasury’s interest rate and liquidity management activities and the cost of the Bank levy are included in net interest income.

The effective interest rate method calculates the amortised cost of a financial instrument by discounting the financial instrument’s estimated future cash receipts or payments to their present value and allocates the interest income or interest expense, including any fees, costs, premiums or discounts integral to the instrument, over its expected life.

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Interest income
Cash and balances with central banks	325	241	260	300	216
Receivables due from other financial institutions	108	110	100	102	85
Net ineffectiveness on qualifying hedges	(18)	(22)	12	(22)	(13)
Trading securities and financial assets designated at fair value	542	558	645	499	505
Available-for-sale securities	1,914	1,795	1,808	1,743	1,613
Loans	29,621	28,504	28,953	25,801	24,577
Regulatory deposits with central banks overseas	23	17	13	23	17
Due from subsidiaries	-	-	-	4,328	3,838
Other interest income	56	29	31	56	27
Total interest income	32,571	31,232	31,822	32,830	30,865
Interest expense
Payables due to other financial institutions	(319)	(279)	(345)	(314)	(278)
Deposits and other borrowings	(9,021)	(8,868)	(9,369)	(7,817)	(7,680)
Trading liabilities	(959)	(2,065)	(2,520)	(754)	(1,646)
Debt issues	(4,480)	(3,585)	(3,737)	(3,958)	(3,034)
Due to subsidiaries	-	-	-	(4,851)	(4,211)
Loan capital	(774)	(693)	(589)	(774)	(693)
Bank levy	(378)	(95)	-	(378)	(95)
Other interest expense	(135)	(131)	(114)	(131)	(128)
Total interest expense	(16,066)	(15,716)	(16,674)	(18,977)	(17,765)
Net interest income	16,505	15,516	15,148	13,853	13,100

Of the amounts noted in total interest income and total interest expense, the amounts related to financial instruments not measured at fair value through income statement were as follows:

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Interest income	31,934	30,555	30,941	32,240	30,232
Interest expense	14,070	12,673	13,101	17,217	15,205

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Non-interest income

12 Months Ended

Sep. 30, 2018

Non-interest income

Non-interest income

Note 4. Non-interest income

Accounting policy

Fees and commissions Fees and commission income are recognised as follows:
§	facility fees are primarily earned for the provision of credit and other facilities to customers and are recognised as the services are provided;
§	transaction fees are earned for facilitating transactions and are recognised once the transaction is executed;
§	other non-risk fee income includes advisory and underwriting fees which are recognised when the related service is completed.
Income which forms an integral part of the effective interest rate of a financial instrument is recognised using the effective interest method and recorded in interest income (for example, loan origination fees). Funds management income Funds management fees earned for the ongoing management of customer funds and investments are recognised over the period of management. Premium income Premium income includes premiums earned for life insurance, life investment and general insurance products:
§	life insurance premiums with a regular due date are recognised as revenue on an accrual basis. Premiums with no due date are recognised on a cash received basis;
§	life investment premiums include a management fee component which is recognised as funds management income over the period the service is provided. The deposit components of life insurance and investment contracts are not revenue and are treated as movements in life insurance policy liabilities;
§	general insurance premium comprises amounts charged to policyholders, excluding taxes, and is recognised based on the likely pattern in which the insured risk is likely to emerge. The portion not yet earned based on the pattern assessment is recognised as unearned premium liability
Claims expense
§	life and general insurance contract claims are recognised as an expense when the liability is established;
§	claims incurred in respect of life investment contracts represent withdrawals and are recognised as a reduction in life insurance liabilities.
Trading income
§	realised and unrealised gains or losses from changes in the fair value of trading assets, liabilities and derivatives are recognised in the period in which they arise (except day one profits or losses which are deferred, refer to Note 23);
§	dividend income on the trading portfolio is recorded as part of trading income;
§	net income related to Treasury’s interest rate and liquidity management activities is included in net interest income.
Dividend income
§	dividends on quoted shares are recognised on the ex-dividend date;
§	dividends on unquoted shares are recognised when the company’s right to receive payment is established.

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Fees and commissions
Facility fees	1,347	1,333	1,297	1,333	1,299
Transaction fees and commissions	1,105	1,193	1,177	886	953
Other non-risk fee income	98	229	281	54	211
Total fees and commissions	2,550	2,755	2,755	2,273	2,463
Wealth management and insurance income1
Life insurance and funds management net operating income	1,825	1,590	1,657	-	-
General insurance and lenders mortgage insurance net operating income	236	210	242	-	-
Total wealth management and insurance income	2,061	1,800	1,899	-	-
Trading income2	945	1,202	1,124	919	1,095
Other income
Dividends received from subsidiaries	-	-	-	2,013	1,859
Dividends received from other entities	3	2	7	3	2
Net gain on sale of associates3	-	279	-	-	-
Net gain on disposal of assets	24	6	1	-	5
Net gain/(loss) on hedging overseas operations	-	-	(6)	19	152
Net gain/(loss) on derivatives held for risk management purposes4	8	52	(88)	8	52
Net gain/(loss) on financial instruments designated at fair value	38	11	(6)	36	3
Net gain/(loss) on disposal of controlled entities	(9)	-	1	-	-
Rental income on operating leases	107	143	109	77	104
Share of associates’ net profit/(loss)	(10)	17	30	-	-
Other5	(89)	19	11	5	20
Total other income	72	529	59	2,161	2,197
Transactions with subsidiaries	-	-	-	472	376
Total non-interest income	5,628	6,286	5,837	5,825	6,131
Wealth management and insurance income comprised
Funds management income	1,145	997	1,006	-	-
Life insurance premium income	1,410	1,204	1,114	-	-
Life insurance commissions, investment income and other income	666	544	386	-	-
Life insurance claims and changes in life insurance liabilities	(1,396)	(1,155)	(849)	-	-
General insurance and lenders mortgage insurance net premiums earned	472	451	455	-	-
General insurance and lenders mortgage insurance investment, commissions and other income	50	77	70	-	-
General insurance and lenders mortgage insurance claims incurred, underwriting and commission expenses	(286)	(318)	(283)	-	-
Total wealth management and insurance income	2,061	1,800	1,899	-	-

1Wealth management and insurance income includes policy holder tax recoveries.

2Trading income represents a component of total markets income from WIB markets business, Westpac Pacific and Treasury foreign exchange operations in Australia and New Zealand.

3On 26 May 2017, the Group sold 60 million (19% of Pendal’s shares on issue) Pendal shares. Refer to Note 35 for further details.

4Income from derivatives held for risk management purposes reflects the impact of economic hedges of foreign currency capital and earnings.

5Other includes $104 million of impairment on the remaining shareholdings of Pendal for the Group and nil for Parent in 2018.

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Operating expenses

12 Months Ended

Sep. 30, 2018

Operating expenses

Operating expenses

Note 5. Operating expenses

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Staff expenses
Employee remuneration, entitlements and on-costs	4,292	4,133	4,005	3,537	3,371
Superannuation expense1	386	380	369	315	314
Share-based payments	95	113	135	97	96
Restructuring costs	114	75	92	97	68
Total staff expenses	4,887	4,701	4,601	4,046	3,849
Occupancy expenses
Operating lease rentals	632	648	622	565	579
Depreciation of property and equipment	245	291	285	196	235
Other	156	134	125	134	111
Total occupancy expenses	1,033	1,073	1,032	895	925
Technology expenses
Amortisation and impairment of software assets	620	628	571	567	572
Depreciation and impairment of IT equipment	141	158	156	124	139
Technology services	721	639	672	564	512
Software maintenance and licences	342	313	277	289	269
Telecommunications	209	190	181	183	163
Data processing	77	80	72	76	78
Total technology expenses	2,110	2,008	1,929	1,803	1,733
Other expenses
Professional and processing services2	824	755	741	638	515
Amortisation and impairment of intangible assets and deferred expenditure	138	192	216	21	169
Postage and stationery	182	217	217	152	179
Advertising	173	155	156	127	107
Credit card loyalty programs	126	152	144	101	118
Non-lending losses	133	73	81	112	58
Impairment/(reversal of impairment) on investments in subsidiaries	-	-	-	44	7
Other expenses	86	108	100	162	238
Total other expenses	1,662	1,652	1,655	1,357	1,391
Total operating expenses	9,692	9,434	9,217	8,101	7,898

1Superannuation expense includes both defined contribution and defined benefit expense. Further details of the Group’s defined benefit plans are in Note 38.

2Professional and processing services relates to:

- services provided by external suppliers including items such as cash handling and security services, marketing costs, research and recruitment fees (2018: $271 million, 2017: $268 million, 2016: $283 million);

- operations processing (2018: $195 million, 2017: $184 million, 2016: $196 million);

- consultants (2018: $151 million, 2017: $162 million, 2016: $120 million);

- credit assessment (2018: $58 million, 2017: $53 million, 2016: $60 million);

- legal and audit fees (2018: $111 million, 2017: $61 million, 2016: $51 million); and

- regulatory fees and share market related costs (2018: $38 million, 2017: $27 million, 2016: $31 million).

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Impairment charges

12 Months Ended

Sep. 30, 2018

Impairment charges

Impairment charges

Note 6. Impairment charges

Accounting policy

At each balance sheet date, the Group assesses whether there is any objective evidence of impairment of its loan portfolio. An impairment charge is recognised if there is objective evidence that the principal or interest repayments may not be recoverable and when the financial impact of the non-recoverable loan can be reliably measured.

Objective evidence of impairment could include a breach of contract with the Group such as a default on interest or principal payments, a borrower experiencing significant financial difficulties or observable economic conditions that correlate to defaults on a group of loans.

The impairment charge is measured as the difference between the loan’s current carrying amount and the present value of its estimated future cash flows. The estimated future cash flows exclude any expected future credit losses which have not yet occurred and are discounted to their present value using the loan’s original effective interest rate. If a loan has a variable interest rate, the discount rate for measuring any impairment is the current effective interest rate.

The impairment charge is recognised in the income statement with a corresponding reduction of the carrying value of the loan through an offsetting provision account (refer to Note 14).

In subsequent periods, objective evidence may indicate that an impairment charge should be reversed. Objective evidence could include a borrower’s credit rating or financial circumstances improving. The impairment charge is reversed in the income statement of that future period and the related provision for impairment is reduced.

Uncollectable loans

A loan may become uncollectable in full or part if, after following the Group’s loan recovery procedures, the Group remains unable to collect that loan’s contractual repayments. Uncollectable amounts are written off against their related provision for impairment, after all possible repayments have been received.

The Group may subsequently be able to recover cash flows from loans written off. In the period which these recoveries are made, they are recognised in the income statement.

Critical accounting assumptions and estimates relating to impairment charges are included in Note 14.

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Individually assessed provisions raised	371	610	727	341	581
Write-backs	(150)	(288)	(210)	(131)	(218)
Recoveries	(179)	(168)	(137)	(138)	(121)
Collectively assessed provisions raised	668	699	744	610	628
Impairment charges	710	853	1,124	682	870

Refer to Note 14 for further details on Provisions for impairment charges.

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Income tax

12 Months Ended

Sep. 30, 2018

Income tax

Income tax

Note 7. Income tax

Accounting policy

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised directly in other comprehensive income, in which case it is recognised in the statement of other comprehensive income. Current tax is the tax payable for the year using enacted or substantively enacted tax rates and laws for each jurisdiction. Current tax also includes adjustments to tax payable for previous years. Deferred tax accounts for temporary differences between the carrying amounts of assets and liabilities in the financial statements and their values for taxation purposes. Deferred tax is determined using the enacted or substantively enacted tax rates and laws for each jurisdiction which are expected to apply when the assets will be realised or the liabilities settled. Deferred tax assets and liabilities have been offset where they relate to the same taxation authority, the same taxable entity or group, and where there is a legal right and intention to settle on a net basis. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available to utilise the assets. Deferred tax is not recognised for the following temporary differences:
§	the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither the accounting nor taxable profit or loss;
§	the initial recognition of goodwill in a business combination;
§	retained earnings in subsidiaries which the Parent Entity does not intend to distribute for the foreseeable future.
The Parent Entity is the head entity of a tax consolidated group with its wholly owned, Australian subsidiaries. All entities in the tax consolidated group have entered into a tax sharing agreement which, in the opinion of the Directors, limits the joint and several liabilities in the case of a default by the Parent Entity. Tax expense and income deferred tax balances arising from temporary differences are recognised using a ‘group allocation basis’. As head entity, the Parent Entity recognises all current tax balances and deferred tax assets arising from unused tax losses and relevant tax credits for the tax-consolidated group. The Parent Entity fully compensates/is compensated by the other members for these balances. Critical accounting assumptions and estimates The Group operates in multiple tax jurisdictions and significant judgement is required in determining the worldwide current tax liability. There are many transactions with uncertain tax outcomes and provisions are held to reflect these tax uncertainties.

Income tax expense

The income tax expense for the year reconciles to the profit before income tax as follows:

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Profit before income tax	11,731	11,515	10,644	10,895	10,463
Tax at the Australian company tax rate of 30%	3,519	3,455	3,193	3,269	3,139
The effect of amounts which are not deductible/ (assessable) in calculating taxable income
Hybrid capital distributions	69	64	50	69	64
Life insurance:
Tax adjustment on policyholder earnings	24	8	(2)	-	-
Adjustment for life business tax rates	(1)	(1)	-	-	-
Dividend adjustments	(1)	(3)	(4)	(604)	(558)
Other non-assessable items	(5)	(3)	(10)	(2)	(2)
Other non-deductible items	64	32	35	34	25
Adjustment for overseas tax rates	(28)	(30)	(26)	(3)	(5)
Income tax (over)/under provided in prior years	9	4	(65)	-	1
Other items	(18)	(8)	13	(12)	(44)
Total income tax expense	3,632	3,518	3,184	2,751	2,620
Income tax analysis
Income tax expense comprises:
Current income tax	3,704	3,404	3,351	2,806	2,367
Movement in deferred tax	(81)	110	(102)	(55)	252
Income tax (over)/under provision in prior years	9	4	(65)	-	1
Total income tax expense	3,632	3,518	3,184	2,751	2,620
Total Australia	3,178	3,072	2,835	2,677	2,544
Total Overseas	454	446	349	74	76
Total income tax expense1	3,632	3,518	3,184	2,751	2,620

The effective tax rate was 30.96% in 2018 (2017: 30.55%, 2016: 29.91%).

1As the Bank Levy is not a levy on income, it is not included in income tax. It is included in Note 3 Net interest income.

Deferred tax assets

The balance comprises temporary differences attributable to:

	Consolidated			Parent Entity
$m	2018	2017		2018	2017
Amounts recognised in the income statements
Provisions for impairment charges on loans	827	847		708	701
Provision for long service leave, annual leave and other employee benefits	323	321		301	292
Financial instruments	5	3		2	4
Property and equipment	196	198		177	180
Other provisions	322	239		299	223
Other liabilities	119	100		112	99
Total amounts recognised in the income statements	1,792	1,708		1,599	1,499
Amounts recognised directly in other comprehensive income
Cash flow hedges1	50	63		31	41
Defined benefit	-	3		-	3
Total amounts recognised directly in other comprehensive income1	50	66		31	44
Gross deferred tax assets1	1,842	1,774		1,630	1,543
Set-off of deferred tax assets and deferred tax liabilities1	(662)	(662)		(528)	(490)
Net deferred tax assets	1,180	1,112		1,102	1,053
Movements
Opening balance	1,112	1,351		1,053	1,399
Recognised in the income statements	84	(387)		100	(313)
Recognised in other comprehensive income1	(16)	(85)		(13)	(69)
Set-off of deferred tax assets and deferred tax liabilities1	-	233		(38)	36
Closing balance	1,180	1,112		1,102	1,053
Deferred tax liabilities
The balance comprises temporary differences attributable to:
	Consolidated			Parent Entity
$m	2018		2017	2018	2017
Amounts recognised in the income statements
Financial instruments	-		3	-	3
Finance lease transactions	158		106	161	83
Property and equipment	135		162	135	163
Life insurance assets	51		47	-	-
Other assets	312		335	213	215
Total amounts recognised in the income statements	656		653	509	464
Amounts recognised directly in other comprehensive income
Available-for-sale securities1	10		19	7	26
Defined benefit	14		-	15	-
Total amounts recognised directly in other comprehensive income1	24		19	22	26
Gross deferred tax liabilities1	680		672	531	490
Set-off of deferred tax assets and deferred tax liabilities1	(662)		(662)	(528)	(490)
Net deferred tax liabilities	18		10	3	-
Movements
Opening balance	10		36	-	-
Recognised in the income statements	3		(277)	45	(61)
Recognised in other comprehensive income1	5		18	(4)	25
Set-off of deferred tax assets and deferred tax liabilities1	-		233	(38)	36
Closing balance	18		10	3	-

1Comparatives have been revised for consistency.

Unrecognised deferred tax balances

The following potential deferred tax balances have not been recognised. The values shown are the gross balances and not tax effected. The tax effected balances would be approximately 30% of the values shown.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Unrecognised deferred tax asset
Tax losses on revenue account	190	213	151	162
Unrecognised deferred tax liability
Gross retained earnings of subsidiaries which the Parent Entity does
not intend to distribute in the foreseeable future	58	51	-	-

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Earnings per share

12 Months Ended

Sep. 30, 2018

Earnings per share

Earnings per share

Note 8. Earnings per share

Accounting policy

Basic earnings per share (EPS) is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares on issue during the year, adjusted for treasury shares. Diluted EPS is calculated by adjusting the basic earnings per share by assuming all dilutive potential ordinary shares (share based payments – Note 37 and convertible loan capital – Note 20) are converted.

Consolidated	2018		2017		2016
$m	Basic	Diluted	Basic	Diluted	Basic	Diluted
Net profit attributable to shareholders	8,095	8,095	7,990	7,990	7,445	7,445
Adjustment for Restricted Share Plan (RSP) dividends1	(5)	-	(6)	-	(5)	-
Adjustment for potential dilution:
Distributions to convertible loan capital holders2	-	283	-	253	-	222
Adjusted net profit attributable to shareholders	8,090	8,378	7,984	8,243	7,440	7,667
Weighted average number of ordinary shares (millions)
Weighted average number of ordinary shares on issue	3,414	3,414	3,364	3,364	3,322	3,322
Treasury shares (including RSP share rights)	(8)	(8)	(9)	(9)	(9)	(9)
Adjustment for potential dilution:
Share-based payments	-	3	-	4	-	4
Convertible loan capital2	-	232	-	236	-	203
Adjusted weighted average number of ordinary shares	3,406	3,641	3,355	3,595	3,313	3,520
Earnings per ordinary share (cents)	237.5	230.1	238.0	229.3	224.6	217.8

1RSP share rights are explained in Note 37. Some RSP share rights have not vested and are not ordinary shares but do receive dividends. These RSP dividends are deducted to show the profit attributable to ordinary shareholders.

2The Group has issued convertible loan capital which is expected to convert into ordinary shares in the future (refer to Note 20 for further details). These convertible loan capital instruments are all dilutive and diluted EPS is therefore calculated as if the instruments had already been converted.

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Average balance sheet and interest rates

12 Months Ended

Sep. 30, 2018

Average balance sheet and interest rates

Average balance sheet and interest rates

Note 9. Average balance sheet and interest rates

The daily average balances of the Group’s interest earning assets and interest bearing liabilities are shown below along with their interest income or expense.

Consolidated	2018			2017			2016
	Average	Interest	Average	Average	Interest	Average	Average	Interest	Average
	Balance	Income	Rate	Balance	Income	Rate	Balance	Income	Rate
	$m	$m	%	$m	$m	%	$m	$m	%
Assets
Interest earning assets
Receivables due from other financial institutions:
Australia	4,169	77	1.8	7,422	82	1.1	9,616	84	0.9
New Zealand	350	6	1.7	850	8	0.9	449	6	1.3
Other overseas	1,046	25	2.4	851	20	2.4	1,292	10	0.8
Trading securities and financial assets designated at fair value:
Australia	17,420	423	2.4	18,418	416	2.3	18,632	481	2.6
New Zealand	3,538	80	2.3	4,238	96	2.3	4,105	118	2.9
Other overseas	2,286	39	1.7	3,214	46	1.4	3,339	46	1.4
Available-for-sale securities:
Australia	55,458	1,692	3.1	52,457	1,573	3.0	48,151	1,581	3.3
New Zealand	3,304	136	4.1	3,479	147	4.2	3,193	141	4.4
Other overseas	2,778	86	3.1	2,272	75	3.3	2,710	86	3.2
Regulatory deposits with central banks overseas
Other overseas	1,040	23	2.2	1,035	17	1.6	1,197	13	1.1
Loans and other receivables1:
Australia	579,749	25,709	4.4	557,865	24,772	4.4	532,172	25,162	4.7
New Zealand	73,804	3,514	4.8	72,938	3,460	4.7	68,370	3,617	5.3
Other overseas	30,002	761	2.5	27,255	520	1.9	28,617	477	1.7
Total interest earning assets and interest income	774,944	32,571	4.2	752,294	31,232	4.2	721,843	31,822	4.4
Non-Interest earning assets
Cash, receivables due from other financial institutions and regulatory deposits with central banks overseas	2,376			2,000			2,431
Derivative financial instruments	34,702			37,673			48,666
Life insurance assets	10,664			12,447			12,702
All other assets2	61,938			60,111			57,913
Total non-interest earning assets	109,680			112,231			121,712
Total assets	884,624			864,525			843,555

1Loans and other receivables are stated net of provisions for impairment charges on loans. Other receivables include cash and balances with central banks and other interest earning assets.

2Include property and equipment, intangible assets, deferred tax assets, non-interest bearing loans relating to mortgage offset accounts and other assets.

Consolidated	2018			2017			2016
	Average	Interest	Average	Average	Interest	Average	Average	Interest	Average
	Balance	Expense	Rate	Balance	Expense	Rate	Balance	Expense	Rate
	$m	$m	%	$m	$m	%	$m	$m	%
Liabilities
Interest bearing liabilities
Payables due to other financial institutions:
Australia	16,180	262	1.6	15,740	241	1.5	16,570	301	1.8
New Zealand	1,135	17	1.5	642	9	1.4	567	10	1.8
Other overseas	1,963	40	2.0	2,451	29	1.2	2,811	34	1.2
Deposits and other borrowings:
Australia	422,006	7,308	1.7	409,586	7,344	1.8	376,115	7,801	2.1
New Zealand	51,368	1,196	2.3	51,042	1,173	2.3	48,251	1,280	2.7
Other overseas	26,599	517	1.9	24,085	351	1.5	29,336	288	1.0
Loan capital:
Australia	15,028	635	4.2	15,841	638	4.0	12,150	513	4.2
New Zealand	1,645	84	5.1	43	2	4.7	-	-	-
Other overseas	1,324	55	4.2	1,324	53	4.0	1,687	76	4.5
Other interest bearing liabilities1:
Australia	163,949	5,369	3.3	157,842	5,117	3.2	164,871	5,574	3.4
New Zealand	14,218	580	4.1	15,821	747	4.7	14,067	787	5.6
Other overseas	94	3	3.2	507	12	2.4	851	10	1.2
Total interest bearing liabilities and interest expense	715,509	16,066	2.2	694,924	15,716	2.3	667,276	16,674	2.5
Non-interest bearing liabilities Deposits and payables due to
other financial institutions:
Australia	42,377			40,514			36,594
New Zealand	5,289			4,716			4,105
Other overseas	824			869			1,023
Derivative financial instruments	37,504			42,780			55,956
Life insurance liabilities	8,874			10,560			10,985
All other liabilities2	12,199			11,586			11,145
Total non-interest bearing liabilities	107,067			111,025			119,808
Total liabilities	822,576			805,949			787,084
Shareholders’ equity	62,017			58,556			55,896
Non-controlling interests	31			20			575
Total equity	62,048			58,576			56,471
Total liabilities and equity	884,624			864,525			843,555

1Include net impact of Treasury balance sheet management activities and the Bank Levy.

2Include other liabilities, provisions, current and deferred tax liabilities.

Net interest income may vary from year to year due to changes in the volume of, and interest rates associated with, interest earning assets and interest bearing liabilities. The table below allocates the change in net interest income between changes in volume and interest rate for those assets and liabilities.

Calculation of variances

§ volume changes are determined based on the movements in average asset and liability balances;

§ interest rate changes are determined based on the change in interest rate associated with those assets and liabilities.

Where variances arise due to a combination of volume and interest rate changes, the absolute dollar value of each change is allocated in proportion to their impact on the total change.

Consolidated	2018			2017
	Change Due to			Change Due to
$m	Volume	Rate	Total	Volume	Rate	Total
Interest earning assets
Receivables due from other financial institutions:
Australia	(36)	31	(5)	(19)	17	(2)
New Zealand	(5)	3	(2)	5	(3)	2
Other overseas	5	-	5	(3)	13	10
Trading securities and financial assets designated at fair value:
Australia	(23)	30	7	(6)	(59)	(65)
New Zealand	(16)	-	(16)	4	(26)	(22)
Other overseas	(13)	6	(7)	(2)	2	-
Available-for-sale securities:
Australia	90	29	119	141	(149)	(8)
New Zealand	(7)	(4)	(11)	13	(7)	6
Other overseas	17	(6)	11	(14)	3	(11)
Regulatory deposits with central banks overseas:
Other overseas	-	6	6	(2)	6	4
Loans and other receivables:
Australia	972	(35)	937	1,217	(1,607)	(390)
New Zealand	41	13	54	242	(399)	(157)
Other overseas	52	189	241	(25)	68	43
Total change in interest income Interest bearing liabilities	1,077	262	1,339	1,551	(2,141)	(590)
Payables due to other financial institutions:
Australia	7	14	21	(15)	(45)	(60)
New Zealand	7	1	8	1	(2)	(1)
Other overseas	(6)	17	11	(4)	(1)	(5)
Deposits and other borrowings:
Australia	223	(259)	(36)	693	(1,150)	(457)
New Zealand	7	16	23	75	(182)	(107)
Other overseas	37	129	166	(52)	115	63
Loan capital:
Australia	(33)	30	(3)	156	(31)	125
New Zealand	75	7	82	2	-	2
Other overseas	-	2	2	(16)	(7)	(23)
Other interest bearing liabilities:
Australia	198	54	252	(237)	(220)	(457)
New Zealand	(76)	(91)	(167)	98	(138)	(40)
Other overseas	(10)	1	(9)	(5)	7	2
Total change in interest expense	429	(79)	350	696	(1,654)	(958)
Change in net interest income:
Australia	608	216	824	736	(352)	384
New Zealand	-	79	79	88	(113)	(25)
Other overseas	40	46	86	31	(22)	9
Total change in net interest income	648	341	989	855	(487)	368

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Financial Assets and Financial Liabilities

12 Months Ended

Sep. 30, 2018

Financial Assets and Financial Liabilities

Financial Assets and Financial Liabilities

FINANCIAL ASSETS AND FINANCIAL LIABILITIES

Accounting policy

Recognition

Purchases and sales of regular way financial assets, except for loans and receivables, are recognised on trade-date; the date on which the Group commits to purchase or sell the asset. Loans and receivables are recognised on settlement date, when cash is advanced to the borrowers.

Financial liabilities are recognised when an obligation arises.

Classification and measurement

The Group classifies its financial assets in the following categories: cash and balances with central banks, receivables due from financial institutions, trading securities and financial assets designated at fair value, derivative financial instruments, available-for-sale securities, loans, life insurance assets and regulatory deposits with central banks overseas. The Group has not classified any of its financial assets as held-to-maturity investments.

The Group classifies significant financial liabilities in the following categories: payables due to other financial institutions, deposits and other borrowings, other financial liabilities at fair value through income statement, derivative financial instruments, debt issues and loan capital.

Financial assets and financial liabilities measured at fair value through income statement are recognised initially at fair value. All other financial assets and financial liabilities are recognised initially at fair value plus directly attributable transaction costs.

The accounting policy for each category of financial asset or financial liability mentioned above is set out in the note for the relevant item.

The Group’s policies for determining the fair value of financial assets and financial liabilities are set out in Note 23.

Derecognition

Financial assets are derecognised when the rights to receive cash flows from the asset have expired, or when the Group has either transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full under a ‘pass through’ arrangement and transferred substantially all the risks and rewards of ownership.

There may be situations where the Group has partially transferred the risks and rewards of ownership but has neither transferred nor retained substantially all the risks and rewards of ownership. In such situations, the asset continues to be recognised on the balance sheet to the extent of the Group’s continuing involvement in the asset.

Financial liabilities are derecognised when the obligation is discharged, cancelled or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, the exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, with the difference in the respective carrying amounts recognised in the income statement.

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Receivables due from other financial institutions

12 Months Ended

Sep. 30, 2018

Receivables due from other financial institutions

Receivables due from other financial institutions

Note 10. Receivables due from other financial institutions

Accounting policy

Receivables due from other financial institutions are recognised initially at fair value and subsequently at amortised cost using the effective interest rate method.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Conduit assets1	-	392	-	-
Cash collateral	4,332	4,834	4,267	4,462
Interbank lending	1,458	1,902	1,444	1,895
Total receivables due from other financial institutions	5,790	7,128	5,711	6,357

1Further information on conduit assets is disclosed in Note 25. Conduit assets are only available to meet associated conduit liabilities disclosed in Note 19.

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Trading securities and financial assets designated at fair value

12 Months Ended

Sep. 30, 2018

Trading securities and financial assets designated at fair value

Trading securities and financial assets designated at fair value

Note 11. Trading securities and financial assets designated at fair value

Accounting policy

Trading securities

Trading securities include actively traded debt (government and other) and equity instruments and those acquired for sale in the near term.

As part of its trading activities, the Group also lends and borrows securities on a collateralised basis. Securities lent remain on the Group’s balance sheet and securities borrowed are not reflected on the Group’s balance sheet, as the risk and rewards of ownership remain with the initial holder. Where cash is provided as collateral, the amount advanced to or received from third parties is recognised as a receivable in other assets (Note 27) or as a borrowing in other liabilities (Note 29) respectively.

Gains and losses on trading securities are recognised in the income statement. Interest received from government and other debt securities is recognised in net interest income (Note 3) and dividends on equity securities are recognised in non-interest income (Note 4).

Securities purchased under agreements to resell (‘reverse repos’)

Securities purchased under agreements to resell are not recognised on the balance sheet as Westpac has not obtained the risks and rewards of ownership. The cash consideration paid is recognised as an asset. Reverse repos which are part of a trading portfolio are designated at fair value. Gains and losses on these financial assets are recognised in non-interest income.  Interest received under these agreements is recognised in interest income.

Other financial assets designated at fair value

Other financial assets designated at fair value either: contain an embedded derivative; are managed on a fair value basis, or are held at fair value to reduce or eliminate an accounting mismatch. Gains and losses on these financial assets are recognised as non-interest income. Interest received from these other financial assets is recognised in interest income.

A portfolio of fixed rate bills designated at fair value to reduce an accounting mismatch have, due to their nature, been presented in loans (Note 13).

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Trading securities	17,779	15,860	15,288	16,673	14,151
Securities purchased under agreement to resell	1,379	6,887	3,260	1,379	6,887
Other financial assets designated at fair value	2,976	2,577	2,620	2,365	1,908
Total trading securities and financial assets designated at fair value	22,134	25,324	21,168	20,417	22,946
Trading securities include the following:
	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Government and semi-government securities	13,062	11,339	9,267	12,253	10,452
Other debt securities	4,622	4,453	5,960	4,325	3,631
Equity securities	8	11	7	8	11
Other	87	57	54	87	57
Total trading securities	17,779	15,860	15,288	16,673	14,151
Other financial assets designated at fair value include:
	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Other debt securities	2,715	2,259	2,319	2,302	1,848
Equity securities	261	318	301	63	60
Total other financial assets designated at fair value	2,976	2,577	2,620	2,365	1,908

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Available-for-sale securities

12 Months Ended

Sep. 30, 2018

Available-for-sale securities

Available-for-sale securities

Note 12. Available-for-sale securities

Accounting policy

Available-for-sale debt (government and other) and equity securities are held at fair value with gains and losses recognised in other comprehensive income except for the following amounts recognised in the income statement:
§	interest on debt securities;
§	dividends on equity securities; and
§	impairment charges.
The cumulative gain or loss recognised in other comprehensive income is subsequently recognised in the income statement when the instrument is disposed. At each reporting date, the Group assesses whether any available-for-sale securities are impaired. Impairment exists if one or more events have occurred which have a negative impact on the security’s estimated cash flows. For debt instruments, evidence of impairment includes significant financial difficulties or adverse changes in the payment status of an issuer. For equity securities, a significant or prolonged decline in the fair value of the security below its cost is considered evidence of impairment. If impairment exists, the cumulative loss is removed from other comprehensive income and recognised in the income statement. Any subsequent reversals of impairment on debt securities are also recognised in the income statement. Subsequent reversal of impairment charges on equity instruments is not recognised in the income statement until the instrument is disposed.

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Available-for-sale securities
Government and semi-government securities	42,979	43,382	46,255	40,345	40,491
Other debt securities	17,756	16,863	14,323	16,101	15,252
Equity securities1	384	465	87	67	57
Total available-for-sale securities	61,119	60,710	60,665	56,513	55,800

The following table shows the maturities of the Group’s available-for-sale securities as at 30 September 2018 and their weighted-average yield. There are no tax-exempt securities.

	Within		Over 1 Year		Over 5 Years		Over		No Specific			Weighted
	1 Year		to 5 Years		to 10 Years		10 Years		Maturity		Total	Average
2018	$m	%	$m	%	$m	%	$m	%	$m	%	$m	%
Carrying amount
Government and semi- government securities	4,780	3.1%	25,126	3.3%	13,073	2.9%	-	-	-	-	42,979	3.2%
Other debt securities	2,118	3.0%	15,638	2.9%	-	-	-	-	-	-	17,756	2.9%
Equity securities	-	-	-	-	-	-	-	-	384	-	384	-
Total by maturity	6,898		40,764		13,073		-		384		61,119

The maturity profile is determined based upon contractual terms for available-for-sale instruments.

Available-for-sale securities include:

§ US Government treasury notes of $5,229 million (2017: $6,796 million, 2016: $6,413 million); and

§ total holdings of debt securities, where the aggregate book value exceeds 10% of equity attributable to Westpac’s owners:

- Queensland Treasury Corporation totalling $11,144 million; and

- Australian Commonwealth Government totalling $10,657 million.

1Certain equity securities are measured at cost because their fair value cannot be reliably measured (there is no active market and quoted prices are not available). 2018: nil for the Group (2017: nil, 2016: $59 million) and nil for the Parent Entity (2017: nil).

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Loans

12 Months Ended

Sep. 30, 2018

Loans

Loans

Note 13. Loans

Accounting policy

Loans are financial assets initially recognised at fair value plus directly attributable transaction costs and fees. Except for a portfolio of fixed rate bills (see below), loans are subsequently measured at amortised cost using the effective interest rate method and are presented net of any provisions for impairment.

Loan products that have both mortgage and deposit facilities are presented gross on the balance sheet, segregating the asset and liability component, because they do not meet the criteria to be offset. Interest earned on these products is presented on a net basis in the income statement as this reflects how the customer is charged.

Finance leases, where the Group acts as lessor, are also included within loans. These are leases where substantially all the risks and rewards of the leased asset have been transferred to the lessee. Finance income is recognised on a basis reflecting a constant rate of return on the net investment in the finance lease. The net investment of a finance lease is the present value of future cash flows on the lease. Gross future cash flows are discounted using the interest rate implicit in the lease to determine their present value.

The loan portfolio is disaggregated by location of booking office and product type, as follows:

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Australia
Housing	444,741	427,167	444,730	427,155
Personal (loans and cards)	21,079	21,952	20,090	19,905
Business	154,347	150,542	150,580	146,143
Margin lending	1,830	1,885	1,830	1,885
Other	88	100	88	100
Total Australia	622,085	601,646	617,318	595,188
New Zealand
Housing	44,772	43,198	-	-
Personal (loans and cards)	1,793	1,856	-	-
Business	27,701	26,667	376	321
Other	76	85	-	-
Total New Zealand	74,342	71,806	376	321
Other overseas
Trade finance	3,600	2,818	3,600	2,818
Other	12,477	11,515	11,281	10,283
Total other overseas	16,077	14,333	14,881	13,101
Total loans	712,504	687,785	632,575	608,610
Provisions for impairment charges on loans (refer to Note 14)	(2,814)	(2,866)	(2,407)	(2,373)
Total net loans1,2	709,690	684,919	630,168	606,237

1Total net loans include $3,250 million (2017: $4,587 million) of fixed rate bills designated at fair value to reduce an accounting mismatch. The change in fair value of fixed rate bills attributable to credit risk recognised during the year was $1 million (2017: $6 million) for both the Group and Parent Entity. The cumulative change in fair value of the fixed rate bills attributable to credit risk was a decrease of $22 million (2017: $23 million decrease) for both the Group and Parent Entity.

2Total net loans include securitised loans of:

- Group - 2018 $7,135 million (2017: $7,651 million)

- Parent - 2018 $85,965 million (2017: $82,135 million)

Loans included the following finance lease receivables:

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Gross investment in finance lease receivables:
Due within one year	692	661	473	433
Due after one year but not later than five years	4,866	4,619	3,804	3,349
Due after five years	595	301	563	237
Unearned future finance income on finance lease receivables	(870)	(796)	(727)	(606)
Net investment in finance lease receivables	5,283	4,785	4,113	3,413
Accumulated allowance for uncollectable minimum lease payments	(8)	(6)	(3)	(2)
Net investment in finance lease receivables after accumulated allowance	5,275	4,779	4,110	3,411
The net investment in finance lease receivables may be analysed as follows:
Due within one year	677	634	458	416
Due after one year but not later than five years	4,116	3,913	3,192	2,809
Due after five years	490	238	463	188
Total net investment in finance lease receivables	5,283	4,785	4,113	3,413

The following table shows loans presented based on their industry classification:

Consolidated
$m	2018	2017	2016	2015	2014
Australia
Accommodation, cafes and restaurants	8,297	8,177	7,536	7,490	7,273
Agriculture, forestry and fishing	8,642	8,182	7,953	7,667	7,246
Construction	6,751	6,043	5,797	5,596	5,533
Finance and insurance	14,059	12,923	14,298	13,175	12,202
Government, administration and defence	628	554	675	796	750
Manufacturing	9,298	9,054	9,140	9,342	8,876
Mining	3,311	3,025	3,641	4,415	3,207
Property	45,471	43,220	44,785	44,667	41,718
Property services and business services	13,477	12,050	11,674	10,703	10,045
Services	12,158	12,950	12,362	10,798	9,629
Trade	16,501	16,063	16,044	15,484	14,449
Transport and storage	8,853	8,624	9,015	9,940	9,186
Utilities	4,350	5,237	4,025	3,554	3,232
Retail lending	463,609	451,315	429,522	400,441	376,662
Other	6,680	4,229	2,777	1,587	1,247
Total Australia	622,085	601,646	579,244	545,655	511,255
New Zealand
Accommodation, cafes and restaurants	323	290	256	182	159
Agriculture, forestry and fishing	8,138	7,772	7,788	6,860	6,019
Construction	502	447	396	359	361
Finance and insurance	2,903	2,478	2,682	1,725	1,158
Government, administration and defence	114	137	163	292	350
Manufacturing	2,199	2,090	2,324	2,110	1,848
Mining	206	141	280	407	484
Property	5,997	5,858	5,925	5,301	5,116
Property services and business services	1,073	1,113	1,084	925	869
Services	1,733	1,810	1,396	1,173	996
Trade	2,509	2,163	2,333	2,003	1,878
Transport and storage	1,029	1,080	1,257	1,094	868
Utilities	1,003	1,237	1,600	1,021	1,004
Retail lending	46,613	45,190	45,011	40,277	37,222
Other	-	-	-	-	138
Total New Zealand	74,342	71,806	72,495	63,729	58,470
Other overseas
Accommodation, cafes and restaurants	112	97	118	111	127
Agriculture, forestry and fishing	19	5	12	568	465
Construction	71	55	147	247	120
Finance and insurance	4,098	4,289	2,767	4,297	2,006
Government, administration and defence	25	4	4	130	35
Manufacturing	3,257	2,982	2,619	3,848	2,886
Mining	322	349	535	778	1,617
Property	467	491	479	409	352
Property services and business services	1,684	540	526	403	140
Services	205	205	99	182	242
Trade	2,988	2,680	3,463	2,898	3,248
Transport and storage	1,232	1,389	1,186	1,099	689
Utilities	736	514	442	722	701
Retail lending	683	657	1,120	1,191	1,111
Other	178	76	-	77	52
Total other overseas	16,077	14,333	13,517	16,960	13,791
Total loans	712,504	687,785	665,256	626,344	583,516
Provisions for impairment charges on loans	(2,814)	(2,866)	(3,330)	(3,028)	(3,173)
Total net loans	709,690	684,919	661,926	623,316	580,343

Parent Entity
$m	2018	2017
Australia
Accommodation, cafes and restaurants	8,228	8,098
Agriculture, forestry and fishing	8,584	8,063
Construction	6,247	5,440
Finance and insurance	14,006	12,882
Government, administration and defence	620	541
Manufacturing	9,072	8,782
Mining	3,279	2,985
Property	45,471	43,220
Property services and business services	12,433	10,979
Services	11,891	12,605
Trade	16,291	15,760
Transport and storage	8,456	8,167
Utilities	4,324	5,206
Retail lending	462,568	449,207
Other	5,848	3,253
Total Australia	617,318	595,188
New Zealand
Accommodation, cafes and restaurants	-	-
Agriculture, forestry and fishing	2	1
Construction	5	3
Finance and insurance	-	-
Government, administration and defence	-	-
Manufacturing	98	88
Mining	-	-
Property	-	-
Property services and business services	8	9
Services	-	1
Trade	263	217
Transport and storage	-	-
Utilities	-	-
Retail lending	-	-
Other	-	2
Total New Zealand	376	321
Other overseas
Accommodation, cafes and restaurants	70	88
Agriculture, forestry and fishing	4	4
Construction	59	44
Finance and insurance	4,093	4,284
Government, administration and defence	24	3
Manufacturing	3,253	2,969
Mining	323	349
Property	234	288
Property services and business services	1,595	525
Services	187	74
Trade	2,802	2,446
Transport and storage	1,127	1,159
Utilities	734	508
Retail lending	277	280
Other	99	80
Total other overseas	14,881	13,101
Total loans	632,575	608,610
Provisions for impairment charges on loans	(2,407)	(2,373)
Total net loans	630,168	606,237

The following table shows the consolidated contractual maturity distribution of all loans by type of customer as at 30 September 2018:

Consolidated 2018
$m	Up to 1 Year	1 to 5 Years	Over 5 Years	Total
Loans by type of customer in Australia
Accommodation, cafes and restaurants	3,381	4,457	459	8,297
Agriculture, forestry and fishing	3,173	4,763	706	8,642
Construction	1,647	4,301	803	6,751
Finance and insurance	7,465	4,896	1,698	14,059
Government, administration and defence	125	174	329	628
Manufacturing	3,263	4,701	1,334	9,298
Mining	548	1,281	1,482	3,311
Property	19,019	22,782	3,670	45,471
Property services and business services	4,029	7,547	1,901	13,477
Services	3,248	7,185	1,725	12,158
Trade	6,737	8,048	1,716	16,501
Transport and storage	1,688	5,660	1,505	8,853
Utilities	1,105	2,625	620	4,350
Retail lending	14,618	24,316	424,675	463,609
Other	1,076	4,097	1,507	6,680
Total Australia	71,122	106,833	444,130	622,085
Total overseas	24,824	18,958	46,637	90,419
Total loans	95,946	125,791	490,767	712,504

Consolidated	2018			2017
	Loans at	Loans at		Loans at	Loans at
	Variable	Fixed		Variable	Fixed
	Interest	Interest		Interest	Interest
$m	Rates	Rates	Total	Rates	Rates	Total
Interest rate segmentation of Group loans maturing after one year
By offices in Australia	423,886	127,077	550,963	417,643	117,326	534,969
By offices overseas	18,816	46,779	65,595	18,371	44,428	62,799
Total loans maturing after one year	442,702	173,856	616,558	436,014	161,754	597,768

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Provisions for impairment charges

12 Months Ended

Sep. 30, 2018

Provisions for impairment charges

Provisions for impairment charges

Note 14. Provisions for impairment charges

Accounting policy

The Group recognises two types of impairment provisions for its loans, being provisions for loans which are:
§	individually assessed for impairment; and
§	collectively assessed for impairment.
Note 6 explains how impairment charges are determined. The Group assesses impairment as follows:
§	individually for loans that exceed specified thresholds. Where there is objective evidence of impairment, individually assessed provisions will be recognised; and
§	collectively for loans below the specified thresholds noted above or if there is no objective evidence of impairment. These loans are included in a group of loans with similar risk characteristics and collectively assessed for impairment. If there is objective evidence that the group of loans is collectively impaired, collectively assessed provisions will be recognised.
Critical accounting assumptions and estimates The methodology and assumptions used for estimating future cash flows are reviewed regularly by the Group to reduce differences between impairment provisions and actual loss experience. Individual component Key judgements include the business prospects for the customer, the realisable value of collateral, the Group’s position relative to other claimants, the reliability of customer information and the likely cost and duration of recovering the loan. Judgements can change with time as new information becomes available or as loan recovery strategies evolve, which may result in revisions to the impairment provision. Collective component Collective provisions are established on a portfolio basis taking into account the level of arrears, collateral and security, past loss experience, current economic conditions, expected default and timing of recovery based on portfolio trends. Key judgements include estimated loss rates and their related emergence periods. The emergence period for each loan type is determined through studies of loss emergence patterns. Loan files are reviewed to identify the average time period between observable loss indicator events and the loss becoming identifiable. Actual credit losses may differ materially from reported loan impairment provisions due to uncertainties including interest rates and their effect on consumer spending, unemployment levels, payment behaviour and bankruptcy rates.

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Individually assessed provisions
Opening balance	480	869	669	417	752
Provisions raised	371	610	727	341	581
Write-backs	(150)	(288)	(210)	(131)	(218)
Write-offs	(269)	(688)	(287)	(248)	(681)
Interest adjustment	(11)	(16)	(13)	(11)	(16)
Other adjustments	1	(7)	(17)	7	(1)
Closing balance	422	480	869	375	417
Collectively assessed provisions
Opening balance	2,639	2,733	2,663	2,180	2,198
Provisions raised	668	699	744	610	628
Write-offs	(858)	(968)	(902)	(742)	(810)
Interest adjustment	179	188	193	148	152
Other adjustments	3	(13)	35	42	12
Closing balance	2,631	2,639	2,733	2,238	2,180
Total provisions for impairment charges on loans and credit commitments	3,053	3,119	3,602	2,613	2,597
Less provisions for credit commitments (refer to Note 28)	(239)	(253)	(272)	(206)	(224)
Total provisions for impairment charges on loans	2,814	2,866	3,330	2,407	2,373

The following table presents provisions for impairment charges on loans by industry classification for the past five years:

Consolidated	2018		2017		2016		2015		2014
	$m	%	$m	%	$m	%	$m	%	$m	%
Individually assessed provisions by industry
Australia
Accommodation, cafes and restaurants	9	0.3	15	0.5	39	1.1	38	1.1	47	1.4
Agriculture, forestry and fishing	13	0.4	9	0.3	21	0.6	23	0.7	47	1.4
Construction	24	0.8	20	0.6	23	0.6	20	0.6	61	1.8
Finance and insurance	25	0.8	6	0.2	15	0.4	23	0.7	24	0.7
Manufacturing	49	1.6	40	1.3	120	3.4	41	1.2	36	1.0
Mining	9	0.3	19	0.6	41	1.1	11	0.3	15	0.4
Property	47	1.5	74	2.4	125	3.5	127	3.9	200	5.7
Property services and business services	35	1.1	77	2.5	215	6.0	97	2.9	83	2.4
Services	27	0.9	25	0.8	16	0.4	20	0.6	32	0.9
Trade	39	1.3	37	1.2	62	1.7	39	1.2	70	2.0
Transport and storage	16	0.5	14	0.4	14	0.4	54	1.6	12	0.3
Utilities	-	-	-	-	-	-	-	-	2	0.1
Retail lending	92	3.0	94	3.0	57	1.6	57	1.7	60	1.7
Other	2	0.1	3	0.1	4	0.1	3	0.1	2	0.1
Total Australia	387	12.6	433	13.9	752	20.9	553	16.6	691	19.9
New Zealand
Accommodation, cafes and restaurants	-	-	-	-	-	-	-	-	-	-
Agriculture, forestry and fishing	13	0.4	11	0.4	11	0.3	6	0.2	6	0.2
Construction	-	-	-	-	1	-	1	-	1	-
Finance and insurance	-	-	-	-	-	-	-	-	-	-
Manufacturing	6	0.2	4	0.1	34	0.9	33	1.0	33	0.9
Mining	-	-	-	-	14	0.4	13	0.4	36	1.0
Property	6	0.2	20	0.6	31	0.9	42	1.3	38	1.1
Property services and business services	-	-	-	-	1	-	1	-	-	-
Services	1	0.1	2	0.1	2	0.1	2	0.1	1	-
Trade	-	-	1	-	1	-	1	-	2	0.1
Transport and storage	-	-	-	-	-	-	-	-	1	-
Utilities	-	-	-	-	-	-	-	-	-	-
Retail lending	7	0.2	7	0.2	4	0.1	8	0.2	10	0.3
Total New Zealand	33	1.1	45	1.4	99	2.7	107	3.2	128	3.6
Total other overseas	2	0.1	2	0.1	18	0.5	9	0.3	48	1.4
Total individually assessed provisions	422	13.8	480	15.4	869	24.1	669	20.1	867	24.9
Total collectively assessed provisions	2,631	86.2	2,639	84.6	2,733	75.9	2,663	79.9	2,614	75.1
Total provisions for impairment charges and credit commitments	3,053	100.0	3,119	100.0	3,602	100.0	3,332	100.0	3,481	100.0

The following table shows details of loan write-offs by industry classifications for the past five years:

Consolidated
$m	2018	2017	2016	2015	2014
Write-offs
Australia
Accommodation, cafes and restaurants	(14)	(38)	(17)	(40)	(26)
Agriculture, forestry and fishing	(12)	(10)	(12)	(36)	(60)
Construction	(23)	(30)	(20)	(40)	(37)
Finance and insurance	(4)	(6)	(13)	(12)	(10)
Manufacturing	(12)	(105)	(21)	(20)	(85)
Mining	(14)	(46)	(18)	(17)	(4)
Property	(39)	(76)	(44)	(104)	(182)
Property services and business services	(44)	(203)	(43)	(70)	(50)
Services	(24)	(97)	(36)	(18)	(22)
Trade	(56)	(59)	(30)	(56)	(70)
Transport and storage	(17)	(17)	(48)	(24)	(43)
Utilities	(1)	-	(1)	(2)	(3)
Retail lending	(793)	(898)	(803)	(658)	(603)
Other	(5)	(17)	(13)	(13)	(14)
Total Australia	(1,058)	(1,602)	(1,119)	(1,110)	(1,209)
New Zealand
Accommodation, cafes and restaurants	-	-	-	-	(2)
Agriculture, forestry and fishing	-	-	(1)	(3)	(10)
Construction	(1)	(1)	(1)	-	(5)
Finance and insurance	-	-	-	-	(10)
Manufacturing	-	-	-	(1)	(1)
Mining	-	-	-	(28)	(10)
Property	(13)	(2)	(10)	(18)	(41)
Property services and business services	-	-	(2)	-	-
Services	(1)	-	-	(1)	(37)
Trade	(1)	(1)	(1)	(4)	(3)
Transport and storage	-	-	-	-	-
Utilities	-	-	-	-	-
Retail lending	(53)	(49)	(51)	(55)	(49)
Other	-	-	(1)	-	-
Total New Zealand	(69)	(53)	(67)	(110)	(168)
Total other overseas	-	(1)	(3)	(18)	(31)
Total write-offs	(1,127)	(1,656)	(1,189)	(1,238)	(1,408)
Write-offs in relation to:
Collectively assessed provisions	(858)	(968)	(902)	(793)	(702)
Individually assessed provisions	(269)	(688)	(287)	(445)	(706)
Total write-offs	(1,127)	(1,656)	(1,189)	(1,238)	(1,408)

The following table shows details of recoveries of loans by industry classifications for the past five years:

Consolidated
$m	2018	2017	2016	2015	2014
Recoveries
Australia
Accommodation, cafes and restaurants	1	3	-	-	-
Agriculture, forestry and fishing	-	-	-	-	-
Construction	1	2	1	4	2
Finance and insurance	1	1	34	8	8
Manufacturing	-	2	1	3	3
Mining	1	1	-	-	-
Property	7	10	3	15	12
Property services and business services	1	3	2	2	-
Services	1	-	2	1	-
Trade	2	3	1	1	1
Transport and storage	1	1	1	-	-
Utilities	-	-	-	-	2
Retail lending	139	118	84	78	62
Other	-	5	2	1	2
Total Australia	155	149	131	113	92
Total New Zealand	24	19	6	18	14
Total other overseas	-	-	-	-	-
Total recoveries	179	168	137	131	106
Total write-offs	(1,127)	(1,656)	(1,189)	(1,238)	(1,408)
Net write-offs and recoveries	(948)	(1,488)	(1,052)	(1,107)	(1,302)

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Life insurance assets and life insurance liabilities

12 Months Ended

Sep. 30, 2018

Life insurance assets and life insurance liabilities

Life insurance assets and life insurance liabilities

Note 15. Life insurance assets and life insurance liabilities

Accounting policy

The Group conducts its life insurance business in Australia primarily through Westpac Life Insurance Services Limited and separate statutory funds registered under the Life Insurance Act 1995 (Life Act) and in New Zealand through Westpac Life-NZ-Limited which are separate statutory funds licensed under the Insurance (Prudential Supervision) Act 2010. Life insurance assets Life insurance assets, including investments in funds managed by the Group, are designated at fair value through income statement. Changes in fair value are recognised in non-interest income. The determination of fair value of life insurance assets involves the same judgements as other financial assets, which are described in the critical accounting assumptions and estimates in Note 23. The Life Act places restrictions on life insurance assets, including that they can only be used:
§	to meet the liabilities and expenses of that statutory fund;
§	to acquire investments to further the business of the statutory fund; or
§	as a distribution, when the statutory fund has met its solvency and capital adequacy requirements.
Life insurance liabilities Life insurance liabilities primarily consist of life investment contract liabilities and life insurance contract liabilities. Claims incurred in respect of life investment contracts are withdrawals of customer deposits, and are recognised as a reduction in life insurance liabilities. Life investment contract liabilities Life investment contract liabilities are designated at fair value through income statement. Fair value is the higher of the valuation of life insurance assets linked to the life investment contract, or the minimum current surrender value (the minimum amount the Group would pay to a policyholder if their policy is voluntarily terminated before it matures or the insured event occurs). Changes in fair value are recognised in non-interest income.

Life insurance contract liabilities The value of life insurance contract liabilities is calculated using the margin on services methodology (MoS), specified in the Prudential Standard LPS 340 Valuation of Policy Liabilities. MoS accounts for the associated risks and uncertainties of each type of life insurance contract written. At each reporting date, planned profit margins and an estimate of future liabilities are calculated. Profit margins are released to non-interest income over the period that life insurance is provided to policyholders (Note 4). The cost incurred in acquiring specific insurance contracts is deferred provided that these amounts are recoverable out of planned profit margins. The deferred amounts are recognised as a reduction in life insurance policy liabilities and are amortised to non-interest income over the same period as the planned profit margins. External unit holder liabilities of managed investment schemes The life insurance statutory funds include controlling interests in managed investment schemes which are consolidated. When the managed investment scheme is consolidated, the external unit holder liabilities are recognised as a liability and included in life insurance liabilities. They are designated at fair value through income statement. Critical accounting assumptions and estimates The key factors that affect the estimation of life insurance liabilities and related assets are:
§	the cost of providing benefits and administering contracts;
§	mortality and morbidity experience, which includes policyholder benefits enhancements;
§	discontinuance rates, which affects the Group’s ability to recover the cost of acquiring new business over the life of the contracts; and
§	the discount rate of projected future cash flows.
Regulation, competition, interest rates, taxes, securities market conditions and general economic conditions also affect the estimation of life insurance liabilities.

Life insurance assets

Consolidated
$m	2018	20171
Investments held directly and in unit trusts
Equities	1,223	2,515
Debt securities	1,622	2,025
Unit trusts	6,545	6,093
Loans and other assets	60	10
Total life insurance assets	9,450	10,643

There were no life insurance assets in the Parent Entity as at 30 September 2018 (2017: nil).

Life insurance liabilities

Consolidated	Life Investment		Life Insurance
Reconciliation of movements in policy liabilities	Contracts		Contracts		Total
$m	2018	2017	2018	2017	2018	2017
Opening balance	9,854	13,234	(835)	(873)	9,019	12,361
Movements in policy liabilities reflected in the income statement	704	544	(6)	38	698	582
Contract contributions recognised in policy liabilities	738	790	-	-	738	790
Contract withdrawals recognised in policy liabilities	(1,115)	(1,214)	-	-	(1,115)	(1,214)
Contract fees, expenses and tax recoveries	(104)	(100)	-	-	(104)	(100)
Change in external unit holders of managed investment schemes	(1,639)	(3,400)	-	-	(1,639)	(3,400)
Closing balance	8,438	9,854	(841)	(835)	7,597	9,019

There were no life insurance liabilities in the Parent Entity as at 30 September 2018 (2017: nil).

1Comparatives have been restated for consistency.

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Payables due to other financial institutions

12 Months Ended

Sep. 30, 2018

Payables due to other financial institutions

Payables due to other financial institutions

Note 16. Payables due to other financial institutions

Accounting policy

Payables due to other financial institutions are recognised initially at fair value and subsequently at amortised cost using the effective interest rate method.

Security repurchase agreements

Where securities are sold subject to an agreement to repurchase at a predetermined price, they remain recognised on the balance sheet in their original category (i.e. ‘Trading securities’ or ‘Available-for-sale’).

The cash consideration received is recognised as a liability (‘Security repurchase agreements’). Security repurchase agreements are designated at fair value and recognised as part of ‘Other financial liabilities at fair value through income statement’ (refer to Note 18) where they are managed as part of a trading portfolio; otherwise they are measured on an amortised cost basis and recognised in ‘Payables due to other financial institutions’.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash collateral	2,171	2,429	1,735	2,304
Offshore central bank deposits	3,397	3,108	3,397	3,108
Interbank borrowing	6,564	6,953	6,545	6,946
Security repurchase agreements1	6,005	9,417	6,005	9,417
Total payables due to other financial institutions	18,137	21,907	17,682	21,775

1The carrying value of securities pledged under repurchase agreements for the Group and the Parent Entity is $8,884 million (2017: $15,192 million).

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Deposits and other borrowings

12 Months Ended

Sep. 30, 2018

Deposits and other borrowings

Deposits and other borrowings

Note 17. Deposits and other borrowings

Accounting policy

Deposits and other borrowings are initially recognised at fair value and subsequently either measured at amortised cost using the effective interest rate method or at fair value.

Deposits and other borrowings are designated at fair value if they are managed on a fair value basis, reduce or eliminate an accounting mismatch or contain an embedded derivative.

Where they are measured at fair value, any changes in fair value (except those due to changes in credit risk) are recognised as non-interest income. The change in the fair value that is due to changes in credit risk is recognised in other comprehensive income except where it would create an accounting mismatch, in which case it is also recognised in the income statement.

Interest expense incurred is recognised in net interest income using the effective interest rate method.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Australia
Certificates of deposit	28,746	37,515	28,746	37,515
Non-interest bearing, repayable at call	41,783	40,324	41,783	40,324
Other interest bearing at call1	233,052	224,268	233,052	223,686
Other interest bearing term1	171,832	156,249	171,832	156,249
Total Australia	475,413	458,356	475,413	457,774
New Zealand
Certificates of deposit	1,116	546	-	-
Non-interest bearing, repayable at call	5,406	4,853	-	-
Other interest bearing at call	21,368	21,273	-	-
Other interest bearing term	29,897	27,620	3	-
Total New Zealand	57,787	54,292	3	-
Other overseas
Certificates of deposit	11,672	8,860	11,672	8,860
Non-interest bearing, repayable at call	830	810	352	322
Other interest bearing at call	1,638	1,505	1,249	1,150
Other interest bearing term	11,945	9,768	11,779	9,587
Total other overseas	26,085	20,943	25,052	19,919
Total deposits and other borrowings	559,285	533,591	500,468	477,693
Deposits and other borrowings at fair value2	41,178	46,569	40,062	46,023
Deposits and other borrowings at amortised cost	518,107	487,022	460,406	431,670
Total deposits and other borrowings	559,285	533,591	500,468	477,693

1Comparatives have been revised for consistency.

2The contractual outstanding amount payable at maturity for the Group is $41,330 million (2017: $46,713 million) and for the Parent Entity is $40,214 million (2017: $46,168 million).

The following table shows average balances and average rates in each of the past three years for major categories of deposits:

Consolidated	2018		2017		2016
	Average	Average	Average	Average	Average	Average
	Balance	Rate	Balance	Rate	Balance	Rate
	$m	%	$m	%	$m	%
Australia
Non-interest bearing	41,156		39,355		35,732
Certificates of deposit	31,424	2.0%	33,350	2.0%	31,165	2.4%
Other interest bearing at call1	228,328	1.2%	222,122	1.1%	208,333	1.5%
Other interest bearing term1	162,254	2.5%	154,114	2.7%	136,617	2.9%
Total Australia	463,162		448,941		411,847
Overseas
Non-interest bearing	6,021		5,527		5,051
Certificates of deposit	13,008	1.9%	13,151	1.4%	16,938	0.9%
Other interest bearing at call	23,017	1.2%	24,163	1.3%	24,686	1.9%
Other interest bearing term	41,942	2.8%	37,813	2.7%	35,963	2.7%
Total overseas	83,988		80,654		82,638

Certificates of deposit and term deposits

All certificates of deposit issued by foreign offices were greater than US$100,000.

The maturity profile of certificates of deposit and term deposits greater than US$100,000 issued by Australian operations is set out below:

Consolidated 2018			Between
		Between	6 Months
	Less Than	3 and	and
$m	3 Months	6 Months	1 Year	Over 1 Year	Total
Certificates of deposit greater than US$100,000	14,181	13,176	1,285	104	28,746
Term deposits greater than US$100,000	84,292	30,627	27,139	8,848	150,906

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Other financial liabilities at fair value through income statement

12 Months Ended

Sep. 30, 2018

Other financial liabilities at fair value through income statement

Other financial liabilities at fair value through income statement

Note 18. Other financial liabilities at fair value through income statement

Accounting policy

Other financial liabilities at fair value through income statement include trading securities sold short and security repurchase agreements which have been designated at fair value at initial recognition.

The accounting policy for security repurchase agreements is consistent with that detailed in Note 16.

Securities sold short reflect the obligation to deliver securities to a buyer for the sale of securities Westpac does not own at the time of sale but that are promised to be delivered to the buyer. Securities delivered to the buyer are usually borrowed and/or subsequently purchased.

Subsequent to initial recognition, these liabilities are measured at fair value with changes in fair value (except credit risk) recognised through the income statement as they arise. The change in fair value that is attributable to credit risk is recognised in other comprehensive income except where it would create an accounting mismatch, in which case it is also recognised through the income statement.

Interest expense is recognised in net interest income using the effective interest rate method.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Security repurchase agreements2	3,517	3,543	3,517	3,525
Securities sold short	780	513	780	513
Total other financial liabilities at fair value through income statement	4,297	4,056	4,297	4,038

At maturity, the Group is contractually required to pay $4,298 million (2017: $4,056 million), and the Parent Entity $4,298 million (2017: $4,038 million) to holders of these financial liabilities.

1Comparatives have been revised for consistency.

2The carrying value of securities pledged under repurchase agreements for the Group is $3,608 million (2017: $3,554 million) and for the Parent Entity is $3,608 million (2017: $3,536 million).

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Debt issues

12 Months Ended

Sep. 30, 2018

Debt issues

Debt issues

Note 19. Debt issues

Accounting policy

Debt issues are bonds, notes, commercial paper and debentures that have been issued by entities in the Group. Debt issues also include acceptances which are bills of exchange initially accepted and discounted by the Group that have been subsequently rediscounted into the market. Bill financing provided to customers by accepting and discounting of bills of exchange is reported as part of loans.

Debt issues are initially measured at fair value and subsequently either measured at amortised cost using the effective interest rate method or at fair value.

Debt issues are designated at fair value if they reduce or eliminate an accounting mismatch or contain an embedded derivative.

They are measured at fair value with changes in fair value (except those due to changes in credit risk) recognised as non-interest income.

The change in the fair value that is due to credit risk is recognised in other comprehensive income except where it would create an accounting mismatch, in which case it is also recognised in the income statement.

Interest expense incurred is recognised within net interest income using the effective interest rate method.

In the table below, the distinction between short-term (12 months or less) and long-term (greater than 12 months) debt is based on the original maturity of the underlying security.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Short-term debt:
Own issuances1	26,266	31,514	26,266	30,002
Customer conduits2	-	392	-	-
Acceptances	-	6	-	6
Total short-term debt1	26,266	31,912	26,266	30,008
Long-term debt:
Covered bonds	35,434	34,516	30,268	29,698
Senior1	103,159	93,476	95,754	84,410
Securitisation	7,588	8,209	-	-
Structured notes	149	243	-	-
Total long-term debt1	146,330	136,444	126,022	114,108
Total debt issues	172,596	168,356	152,288	144,116
Debt issues at fair value3	3,355	4,673	3,223	2,940
Debt issues at amortised cost	169,241	163,683	149,065	141,176
Total debt issues	172,596	168,356	152,288	144,116
Movement Reconciliation ($m)
Balance as at 1 October 2017	168,356		144,116
Issuances	59,456		57,440
Maturities, repayments, buy backs and reductions	(64,698)		(58,005)
Other cash movements	-		-
Total cash movements	(5,242)		(565)
Foreign exchange translation impact	11,022		10,252
Fair value adjustments	(244)		(240)
Fair value hedge accounting adjustments	(1,313)		(1,288)
Other (amortisation of bond issue costs, etc.)	17		13
Total non-cash movements	9,482		8,737
Balance as at 30 September 2018	172,596		152,288

1Comparatives have been revised for consistency.

2Further information on customer conduits is disclosed in Note 25.

3The contractual outstanding amount payable at maturity for the Group is $3,475 million (2017: $4,604 million) and for the Parent Entity is $3,344 million (2017: $2,875 million). The cumulative change in the fair value of debt issues which is attributable to changes in Westpac’s own credit risk is a decrease of $45 million (2017: $2 million decrease) for the Group and Parent Entity.

Consolidated
$m		2018	2017
Short-term debt
Own issuances:
US commercial paper		18,675	26,167
Senior debt1:
AUD		550	1,900
GBP		6,604	2,916
Other		437	531
Total own issuances1		26,266	31,514
Asset backed commercial paper (by currency):
AUD		-	392
Total assets backed commercial paper		-	392
Acceptances		-	6
Total short-term debt		26,266	31,912
Long-term debt (by currency)1:
AUD		37,571	35,780
CHF		2,953	1,903
EUR		31,734	25,049
GBP		5,290	4,922
JPY		3,226	2,137
NZD		2,294	3,416
USD		60,336	60,971
Other		2,926	2,266
Total long-term debt1		146,330	136,444
Consolidated
$m	2018	2017	2016
Short-term borrowings
US commercial paper
Maximum amount outstanding at any month end	28,331	27,456	36,478
Approximate average amount outstanding	23,315	23,025	26,351
Approximate weighted average interest rate on:
Average amount outstanding	2.0%	1.3%	0.7%
Outstanding as at end of the year	2.5%	1.2%	0.9%

The Group manages foreign exchange exposure from debt issuances as part of its hedging activities. Further details of the Group’s hedge accounting are in Note 21.

1Comparatives have been revised for consistency.

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Loan Capital

12 Months Ended

Sep. 30, 2018

Loan Capital

Loan Capital

Note 20. Loan Capital

Accounting policy

Loan capital are instruments issued by the Group which qualify for inclusion as regulatory capital under Australian Prudential Regulation Authority (APRA) Prudential Standards. Loan capital is initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method. Interest expense incurred is recognised in net interest income.

R

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Additional Tier 1 (AT1) loan capital
Convertible preference shares	-	1,188	-	1,188
Westpac capital notes	7,370	5,684	7,370	5,684
USD AT1 securities	1,585	1,556	1,585	1,556
Total AT1 loan capital	8,955	8,428	8,955	8,428
Tier 2 loan capital
Subordinated notes	7,822	8,789	7,822	8,789
Subordinated perpetual notes	488	449	488	449
Total Tier 2 loan capital	8,310	9,238	8,310	9,238
Total loan capital	17,265	17,666	17,265	17,666
Movement Reconciliation ($m)
Balance as at 1 October 2017	17,666		17,666
Issuances	2,342		2,342
Maturities, repayments, buy backs and reductions	(2,387)		(2,387)
Total cash movements	(45)		(45)
Foreign exchange translation impact	449		449
Fair value hedge accounting adjustments	(257)		(257)
Conversion of Convertible Preference Shares to ordinary shares1	(566)		(566)
Other (amortisation of bond issue costs, etc.)	18		18
Total non-cash movements	(356)		(356)
Balance as at 30 September 2018	17,265		17,265

1Refer to AT1 loan capital discussion in the next page and Note 41.

Additional Tier 1 loan capital

A summary of the key terms and common features of AT1 instruments are provided below1.

Consolidated and Parent Entity
	Dividend/distribution/	Potential scheduled	Optional
$m	interest rate	conversion date2	redemption date3	2018	2017
Westpac convertible preference shares (CPS)
$1,189 million CPS	(180 day bank bill rate + 3.25% p.a.)	31 March 2020	31 March 20184	-	1,188
	x (1 - Australian corporate tax rate)
Total convertible preference shares				-	1,188
Westpac capital notes (WCN)
$1,384 million WCN	(90 day bank bill rate + 3.20% p.a.)	8 March 2021	8 March 2019	1,382	1,379
	x (1 - Australian corporate tax rate)
$1,311 million WCN2	(90 day bank bill rate + 3.05% p.a.)	23 September 2024	23 September 2022	1,305	1,304
	x (1 - Australian corporate tax rate)
$1,324 million WCN3	(90 day bank bill rate + 4.00% p.a.)	22 March 2023	22 March 2021	1,316	1,313
	x (1 - Australian corporate tax rate)
$1,702 million WCN4	(90 day bank bill rate + 4.90% p.a.)	20 December 2023	20 December 2021	1,691	1,688
	x (1 - Australian corporate tax rate)
$1,690 million WCN5	(90 day bank bill rate + 3.20% p.a.)	22 September 2027	22 September 2025	1,676	-
	x (1 - Australian corporate tax rate)
Total Westpac capital notes				7,370	5,684
USD AT1 securities
US$1,250 million securities	5.000% p.a. until but excluding	n/a	21 September 20276	1,585	1,556
	21 September 2027 (first reset date).
	If not redeemed, converted or
	written-off earlier, from, and
	including, each reset date5 to, but
	excluding, the next succeeding
	reset date, at a fixed rate p.a. equal
	to the prevailing 5-year USD mid-
	market swap rate plus 2.888% p.a.
Total USD AT1 securities				1,585	1,556

1A$ unless otherwise noted.

2Conversion is subject to the satisfaction of the scheduled conversion conditions. If the conversion conditions are not satisfied on the relevant scheduled conversion date, conversion will not occur until the next distribution payment date on which the scheduled conversion conditions are satisfied.

3Westpac may elect to redeem the relevant AT1 instrument, subject to APRA’s prior written approval.

4On 13 March 2018, $623 million of CPS were transferred to the Westpac CPS nominated party for $100 each pursuant to the Westpac Capital Notes 5 reinvestment offer. Those CPS were subsequently bought back and cancelled by Westpac. On 3 April 2018, the remaining $566 million of CPS were transferred to the Westpac CPS nominated party for $100 each. Following the transfer, those remaining CPS were converted into 19,189,765 ordinary shares.

521 September 2027 and every fifth anniversary thereafter is a reset date.

6Westpac may elect to redeem on 21 September 2027 and every fifth anniversary thereafter.

Common features of AT1 instruments

Payment conditions

Quarterly distributions on the Westpac capital notes and semi-annual interest payments on the USD AT1 securities are discretionary and will only be paid if the payment conditions are satisfied, including that the payment will not result in a breach of Westpac’s capital requirements under APRA’s prudential standards; not result in Westpac becoming, or being likely to become, insolvent; or if APRA does not object to the payment.

Broadly, if for any reason a distribution or interest payment has not been paid in full on the relevant payment date, Westpac must not determine or pay any dividends on Westpac ordinary shares or undertake a discretionary buy back or capital reduction of Westpac ordinary shares, unless the unpaid payment is paid in full within 20 business days of the relevant payment date or in certain other circumstances.

The AT1 instruments convert into Westpac ordinary shares in the following circumstances:

Scheduled Conversion

On the scheduled conversion date, provided certain conversion conditions are satisfied, it is expected that the relevant AT1 instrument1 will be converted and holders will receive a variable number of Westpac ordinary shares calculated using the formula described in the terms of the relevant AT1 instrument, subject to a maximum conversion number. The conversion number of Westpac ordinary shares will be calculated using the face value of the relevant AT1 instrument and the Westpac ordinary share price determined over the 20 business day period prior to the scheduled conversion date, including a 1% discount.

Capital Trigger Event or Non-Viability Trigger Event

Westpac will be required to convert some or all AT1 instruments into a variable number of Westpac ordinary shares upon the occurrence of a capital trigger event or non-viability trigger event. No conversion conditions apply in these circumstances.

A capital trigger event occurs when Westpac determines, or APRA notifies Westpac in writing that it believes, Westpac’s Common Equity Tier 1 Capital ratio is equal to or less than 5.125% (on a level 1 or level 2 basis2).

A non-viability trigger event will occur when APRA notifies Westpac in writing that it believes conversion of all or some AT1 instruments (or conversion, write-off or write-down of relevant capital instruments of the Westpac Group), or public sector injection of capital (or equivalent support), in each case is necessary because without it, Westpac would become non-viable.

For each AT1 instrument converted, holders will receive a variable number of Westpac ordinary shares calculated using the formula described in the terms of the relevant AT1 instrument, subject to a maximum conversion number. The conversion number of Westpac ordinary shares is calculated using the face value or outstanding principal amount of the relevant AT1 instrument and the Westpac ordinary share price determined over the 5 business day period prior to the capital trigger event date or non-viability trigger event date and includes a 1% discount. For each AT1 instrument, the maximum conversion number is set using a Westpac ordinary share price which is broadly equivalent to 20% of the Westpac ordinary share price at the time of issue.

Following the occurrence of a capital trigger event or non-viability trigger event, if conversion of an AT1 instrument does not occur within five business days, holders’ rights in relation to the relevant AT1 instrument will be immediately and irrevocably terminated.

Early conversion

Westpac is able to elect to convert3, or may be required to convert, AT1 instruments early in certain circumstances. The terms of conversion and the conversion conditions are broadly similar to scheduled conversion.

Early redemption

Westpac is able to elect to redeem the relevant AT1 instrument on the optional redemption date or for certain taxation or regulatory reasons, subject to APRA’s prior written approval.

1Scheduled conversion does not apply to USD AT1 securities.

2Level 1 comprises Westpac Banking Corporation and subsidiaries approved by APRA as being part of a single ‘Extended Licenced Entity’ for the purposes of measuring capital adequacy. Level 2 includes all subsidiaries except those entities specifically excluded by APRA regulations for the purposes of measuring capital adequacy.

3Excludes WCN and USD AT1 securities.

Tier 2 loan capital

A summary of the key terms and common features of Westpac’s Tier 2 instruments are provided below1.

Consolidated and Parent Entity
			Optional
$m	Interest rate2	Maturity date	redemption date3	2018	2017
Basel III transitional subordinated notes
US$350 million subordinated notes	Fixed 4.625% p.a.	1 June 2018	n/a	-	454
US$800 million subordinated notes	3.625% p.a. until but excluding 28 February 2018. Thereafter, if not	28 February 2023	28 February 20184	-	1,018
	redeemed, fixed rate equal to 5-year US Treasury rate + 2.90% p.a.
Basel III fully compliant subordinated notes
A$925 million subordinated notes	90 day bank bill rate + 2.30% p.a.	22 August 2023	22 August 20184	-	923
A$1,000 million subordinated notes	90 day bank bill rate + 2.05% p.a.	14 March 2024	14 March 2019	999	991
CNY1,250 million subordinated notes	4.85% p.a. until but excluding 9 February 2020. Thereafter, if not	9 February 2025	9 February 2020	252	239
	redeemed, a fixed rate per annum equal to the one-year CNH HIBOR
	reference rate plus 0.8345% p.a.
A$350 million subordinated notes	4.50% p.a. until but excluding 11 March 2022. Thereafter, if not redeemed,	11 March 2027	11 March 2022	347	350
	a fixed rate per annum equal to the five-year AUD semi-quarterly mid-swap
	reference rate plus 1.95% p.a., the sum of which will be annualised.
S$325 million subordinated notes	4.00% p.a. until but excluding 12 August 2022. Thereafter, if not redeemed,	12 August 2027	12 August 2022	330	312
	a fixed rate per annum equal to the five-year SGD swap offer rate
	plus 1.54% p.a.
A$175 million subordinated notes	4.80% p.a. until but excluding 14 June 2023. Thereafter, if not redeemed,	14 June 2028	14 June 2023	171	171
	a fixed rate per annum equal to the five-year AUD semi-quarterly mid-swap
	reference rate plus 2.65% p.a., each of which will be annualised.
US$100 million subordinated notes	Fixed 5.00% p.a.	23 February 2046	n/a	114	117
A$700 million subordinated notes	Floating 90 day bank bill rate + 3.10% p.a.	10 March 2026	10 March 2021	700	700
JPY20,000 million subordinated notes	Fixed 1.16% p.a.	19 May 2026	n/a	242	225
JPY10,200 million subordinated notes	Fixed 1.16% p.a.	2 June 2026	n/a	123	115
JPY10,000 million subordinated notes	Fixed 0.76% p.a.	9 June 2026	n/a	120	112
NZ$400 million subordinated notes	4.6950% p.a. until but excluding 1 September 2021. Thereafter, if not	1 September 2026	1 September 2021	358	357
	redeemed, a fixed rate per annum equal to the New Zealand 5-year swap
	rate on 1 September 2021 plus 2.60% p.a.
JPY8,000 million subordinated notes	0.9225% p.a until but excluding 7 October 2021. Thereafter, if not	7 October 2026	7 October 2021	97	90
	redeemed, a fixed rate per annum equal to the five-year JPY mid-swap
	rate plus 1.0005% p.a.
US$1,500 million subordinated notes	4.322% p.a. until but excluding 23 November 2026. Thereafter, if not	23 November 2031	23 November 2026	1,922	1,882
	redeemed, a fixed rate per annum equal to the five-year USD mid-swap
	rate plus 2.236% p.a.
JPY12,000 million subordinated notes	0.87% p.a. until but excluding 6 July 2022. Thereafter, if not redeemed, a	6 July 2027	6 July 2022	146	136
	fixed rate per annum equal to the five-year JPY mid-swap rate
	plus 0.78% p.a.
JPY13,500 million subordinated notes	0.868% p.a. until but excluding 6 July 2022. Thereafter, if not redeemed,	6 July 2027	6 July 2022	165	152
	a fixed rate per annum equal to the five-year JPY mid-swap rate
	plus 0.778% p.a.
HKD600 million subordinated notes	3.15% p.a. until but excluding 14 July 2022. Thereafter, if not redeemed, a	14 July 2027	14 July 2022	102	98
	fixed rate per annum equal to the five-year HKD mid-swap rate
	plus 1.34% p.a.
A$350 million subordinated notes	4.334% p.a. until but excluding 16 August 2024. Thereafter, if not	16 August 2029	16 August 2024	347	347
	redeemed, a fixed rate per annum equal to the five-year AUD
	semi-quarterly mid-swap reference rate plus 1.83% p.a., each of which will
	be annualised.
A$185 million subordinated notes	Fixed 5.00% p.a.	24 January 2048	n/a	185	-
A$250 million subordinated notes	90 day bank bill rate + 1.40% p.a.	16 February 2028	16 February 2023	250	-
A$130 million subordinated notes	Fixed 5.00% p.a.	2 March 2048	n/a	130	-
A$725 million subordinated notes	90 day bank bill rate + 1.80% p.a.	22 June 2028	22 June 2023	722	-
Total subordinated notes				7,822	8,789

1Excludes subordinated perpetual notes.

2Interest payments are made periodically as set out in the terms of the subordinated notes.

3Westpac may elect to redeem the relevant Tier 2 instrument on the optional redemption date, subject to APRA’s prior written approval. If not redeemed on the first optional redemption date, Westpac may elect to redeem the relevant Tier 2 instrument on any interest payment date after the first optional redemption date (except for US$1,500 million subordinated notes), subject to APRA’s prior written approval.

4The subordinated notes were redeemed in full on the relevant optional redemption date.

Common features of Basel III fully compliant subordinated notes

Interest payments are subject to Westpac being solvent at the time of, and immediately following, the interest payment. These subordinated notes contain non-viability loss absorption requirements.

Non-viability trigger event

Westpac will be required to convert some or all subordinated notes into a variable number of Westpac ordinary shares upon the occurrence of a non-viability trigger event. A non-viability trigger event will occur on similar terms as described under AT1 loan capital.

For each subordinated note converted, holders will receive a variable number of Westpac ordinary shares calculated using the formula described in the terms of the relevant Tier 2 instrument, subject to a maximum conversion number. The conversion number of Westpac ordinary shares will be calculated in a manner similar to that described under AT1 loan capital for a non-viability trigger event. For each Tier 2 instrument, the maximum conversion number is set using a Westpac ordinary share price which is broadly equivalent to 20% of the Westpac ordinary share price at the time of issue.

Following the occurrence of a non-viability trigger event, if conversion of a Tier 2 instrument does not occur within five business days, holders’ rights in relation to the relevant Tier 2 instrument will be immediately and irrevocably terminated.

Subordinated perpetual notes

These notes have no final maturity but Westpac can choose to redeem them at par on any interest payment date falling on or after September 1991, subject to APRA approval and certain other conditions. Interest is cumulative and payable on the notes semi-annually at a rate of 6 month US$ LIBOR plus 0.15% p.a., subject to Westpac being solvent immediately after making the payment and having paid any dividend on any class of share capital of Westpac within the prior 12 month period.

These notes qualify for transitional treatment as Tier 2 capital of Westpac under APRA’s Basel III capital adequacy framework.

The rights of the noteholders and coupon holders are subordinated to the claims of all creditors (including depositors) of Westpac other than creditors whose claims against Westpac rank equally with, or junior to, these notes.

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Derivative financial instruments

12 Months Ended

Sep. 30, 2018

Derivative financial instruments

Derivative financial instruments

Note 21. Derivative financial instruments

Accounting policy

Derivative financial instruments are instruments whose values derive from the value of an underlying asset, reference rate or index and include forwards, futures, swaps and options.

All derivatives are held at fair value. Changes in fair value are recognised in the income statement, unless designated in a cash flow or net investment hedge relationship. Derivatives are presented as an asset where they have a positive fair value at balance date or as a liability where the fair value at balance date is negative.

The Group uses derivative instruments for trading and also as part of its asset and liability risk management activities, which are discussed in Note 22. Derivatives used for risk management activities include designating derivatives into one of three hedge accounting relationships: fair value hedge; cash flow hedge; or hedge of a net investment in a foreign operation, where permitted under AASB 139. These hedge designations and associated accounting treatment are as follows:

Fair value hedges

Fair value hedges hedge the exposure to changes in the fair value of an asset or liability.

Changes in the fair value of derivatives and the hedged asset or liability in fair value hedges are recognised in interest income. The carrying value of the hedged asset or liability is adjusted for the changes in fair value related to the hedged risk.

If a hedge is discontinued, any fair value adjustments to the carrying value of the asset or liability are amortised to interest income over the period to maturity. If the asset or liability is sold, any unamortised adjustment is immediately recognised in interest income.

Cash flow hedges

Cash flow hedges hedge the exposure to variability of cash flows attributable to an asset, liability or future forecast transaction.

For effective hedges, changes in the fair value of derivatives are recognised in the cash flow hedge reserve through other comprehensive income and subsequently recognised in interest income when the asset or liability that was hedged impacts the income statement.

For hedges with some ineffectiveness, the changes in the fair value of the derivatives relating to the ineffective portion are immediately recognised in interest income.

If a hedge is discontinued, any cumulative gain or loss remains in other comprehensive income. It is amortised to interest income over the period which the asset or liability that was hedged also impacts the income statement.

If a hedge of a forecast transaction is no longer expected to occur, any cumulative gain or loss in other comprehensive income is immediately recognised in interest income.

Net investment hedges

Net investment hedges hedge foreign currency risks arising from a net investment of a foreign operation.

For effective hedges, changes in the fair value of derivatives are recognised in the foreign currency translation reserve through other comprehensive income.

For hedges with some ineffectiveness, the changes in the fair value of the derivatives relating to the ineffective portion are immediately recognised in non-interest income.

If a foreign operation is disposed of, any cumulative gain or loss in other comprehensive income is immediately recognised in non-interest income.

a.    Fair value hedges

The Group hedges its interest rate risk from fixed debt issuances and fixed rate assets with single currency interest rate derivatives.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Change in fair value hedging instruments	(1,203)	(328)	(1,208)	(337)
Change in fair value hedge items attributed to hedged risk	1,192	292	1,197	306
Ineffectiveness in interest income	(11)	(36)	(11)	(31)

b.    Cash flow hedges

Exposure to the volatility of interest cash flows from customer deposits and loans is hedged with interest rate derivatives.

Exposure to foreign currency principal and interest cash flows from floating rate debt issuances is hedged through the use of cross currency derivatives.

Gross cash inflows and outflows on derivatives designated in cash flow hedges are, as a proportion of total gross cash flows, expected to occur in the following periods:

	Less Than	1 Month to	3 Months	1 Year to	2 Years to	3 Years to	4 Years to	Over
	1 Month	3 Months	to 1 Year	2 Years	3 Years	4 Years	5 Years	5 Years
2018
Cash inflows	0.3%	2.1%	21.8%	23.8%	18.9%	19.1%	4.7%	9.3%
Cash outflows	0.5%	1.8%	22.4%	23.0%	19.5%	18.0%	4.9%	9.9%
2017
Cash inflows	3.2%	3.6%	15.6%	21.6%	17.5%	14.6%	14.7%	9.2%
Cash outflows	3.7%	3.6%	15.3%	20.6%	17.1%	15.4%	14.4%	9.9%

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash flow hedge ineffectiveness	(7)	14	(11)	18

c.    Dual fair value and cash flow hedges

Fixed rate foreign currency denominated debt is hedged using cross currency interest rate derivatives, designated as fair value hedges of foreign interest rates and cash flow hedges of foreign exchange rates.

d.    Net investment hedges

The Group uses foreign exchange forward contracts when hedging the currency translation risk of net investments in foreign operations. For both the Group and Parent Entity, ineffectiveness arising from net investment hedges amounted to nil (2017: nil).

The notional amount and fair value of derivative instruments held for trading and designated in hedge relationships are set out in the following tables:

Consolidated 2018		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	189,853	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	168,132	11	(12)	-	-	-	-	-	-	11	(12)
Swap agreements	2,863,349	15,626	(15,580)	505	(4,751)	385	(550)	-	-	16,516	(20,881)
Options	39,067	165	(167)	-	-	-	-	-	-	165	(167)
Total interest rate contracts	3,260,401	15,802	(15,759)	505	(4,751)	385	(550)	-	-	16,692	(21,060)
Foreign exchange contracts
Spot and forward contracts	784,791	6,741	(6,418)	-	-	-	-	-	(32)	6,741	(6,450)
Cross currency swap agreements2	462,949	6,561	(9,019)	726	33	1,639	(215)	-	-	8,926	(9,201)
Options	22,281	120	(184)	-	-	-	-	-	-	120	(184)
Total foreign exchange contracts	1,270,021	13,422	(15,621)	726	33	1,639	(215)	-	(32)	15,787	(15,835)
Commodity contracts	6,735	246	(300)	-	-	-	-	-	-	246	(300)
Equities	96	1	-	-	-	-	-	-	-	1	-
Credit default swaps	13,536	102	(101)	-	-	-	-	-	-	102	(101)
Total of gross derivatives	4,550,789	29,573	(31,781)	1,231	(4,718)	2,024	(765)	-	(32)	32,828	(37,296)
Impact of netting arrangements3	-	(8,222)	8,912	(375)	3,633	(130)	344	-	-	(8,727)	12,889
Total of net derivatives	4,550,789	21,351	(22,869)	856	(1,085)	1,894	(421)	-	(32)	24,101	(24,407)

Consolidated 2017		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	132,785	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	215,934	21	(20)	-	-	-	-	-	-	21	(20)
Swap agreements	2,655,134	16,438	(15,361)	446	(3,241)	498	(707)	-	-	17,382	(19,309)
Options	69,016	156	(183)	-	-	-	-	-	-	156	(183)
Total interest rate contracts	3,072,869	16,615	(15,564)	446	(3,241)	498	(707)	-	-	17,559	(19,512)
Foreign exchange contracts
Spot and forward contracts	668,896	5,781	(6,027)	-	-	-	-	19	(19)	5,800	(6,046)
Cross currency swap agreements2	444,421	6,272	(7,893)	573	4	1,006	(744)	-	-	7,851	(8,633)
Options	13,604	124	(138)	-	-	-	-	-	-	124	(138)
Total foreign exchange contracts	1,126,921	12,177	(14,058)	573	4	1,006	(744)	19	(19)	13,775	(14,817)
Commodity contracts	7,772	270	(235)	-	-	-	-	-	-	270	(235)
Equities	202	3	-	-	-	-	-	-	-	3	-
Credit default swaps	10,907	79	(78)	-	-	-	-	-	-	79	(78)
Total of gross derivatives	4,218,671	29,144	(29,935)	1,019	(3,237)	1,504	(1,451)	19	(19)	31,686	(34,642)
Impact of netting arrangements3	-	(7,332)	7,178	(149)	1,782	(172)	307	-	-	(7,653)	9,267
Total of net derivatives	4,218,671	21,812	(22,757)	870	(1,455)	1,332	(1,144)	19	(19)	24,033	(25,375)

1The fair value differential of futures contracts are settled daily with the exchange. The notional balance represents open contracts as at 30 September.

2The unrealised foreign exchange gains or losses on derivatives in hedge relationships are substantially offset by the retranslation at spot exchange rates of the foreign currency denominated debt being hedged.

3Consists of derivative trades settled directly with central clearing counterparties and their associated variation margin. Refer to Note 24.

Parent Entity 2018		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	189,853	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	168,132	11	(12)	-	-	-	-	-	-	11	(12)
Swap agreements	2,859,358	15,659	(15,751)	489	(4,568)	352	(444)	-	-	16,500	(20,763)
Options	39,067	165	(167)	-	-	-	-	-	-	165	(167)
Total interest rate contracts	3,256,410	15,835	(15,930)	489	(4,568)	352	(444)	-	-	16,676	(20,942)
Foreign exchange contracts
Spot and forward contracts	784,438	6,737	(6,417)	-	-	-	-	-	(31)	6,737	(6,448)
Cross currency swap agreements2	456,251	6,562	(9,019)	703	40	1,142	(164)	-	-	8,407	(9,143)
Options	22,281	120	(184)	-	-	-	-	-	-	120	(184)
Total foreign exchange contracts	1,262,970	13,419	(15,620)	703	40	1,142	(164)	-	(31)	15,264	(15,775)
Commodity contracts	6,735	246	(300)	-	-	-	-	-	-	246	(300)
Equities	96	1	-	-	-	-	-	-	-	1	-
Credit default swaps	13,536	102	(101)	-	-	-	-	-	-	102	(101)
Total of gross derivatives	4,539,747	29,603	(31,951)	1,192	(4,528)	1,494	(608)	-	(31)	32,289	(37,118)
Impact of netting arrangements3	-	(8,222)	8,912	(375)	3,633	(130)	344	-	-	(8,727)	12,889
Total of net derivatives	4,539,747	21,381	(23,039)	817	(895)	1,364	(264)	-	(31)	23,562	(24,229)

Parent Entity 2017		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	132,785	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	215,934	21	(20)	-	-	-	-	-	-	21	(20)
Swap agreements	2,646,153	16,472	(15,549)	426	(3,008)	465	(588)	-	-	17,363	(19,145)
Options	69,016	156	(183)	-	-	-	-	-	-	156	(183)
Total interest rate contracts	3,063,888	16,649	(15,752)	426	(3,008)	465	(588)	-	-	17,540	(19,348)
Foreign exchange contracts
Spot and forward contracts	668,322	5,774	(6,024)	-	-	-	-	19	(16)	5,793	(6,040)
Cross currency swap agreements2	434,600	6,273	(7,894)	545	9	849	(454)	-	-	7,667	(8,339)
Options	13,604	124	(138)	-	-	-	-	-	-	124	(138)
Total foreign exchange contracts	1,116,526	12,171	(14,056)	545	9	849	(454)	19	(16)	13,584	(14,517)
Commodity contracts	7,772	270	(235)	-	-	-	-	-	-	270	(235)
Equities	202	3	-	-	-	-	-	-	-	3	-
Credit default swaps	10,907	79	(78)	-	-	-	-	-	-	79	(78)
Total of gross derivatives	4,199,295	29,172	(30,121)	971	(2,999)	1,314	(1,042)	19	(16)	31,476	(34,178)
Impact of netting arrangements3	-	(7,338)	7,330	(148)	1,711	(167)	226	-	-	(7,653)	9,267
Total of net derivatives	4,199,295	21,834	(22,791)	823	(1,288)	1,147	(816)	19	(16)	23,823	(24,911)

1The fair value differential of futures contracts are settled daily with the exchange. The notional balance represents open contracts as at 30 September.

2The unrealised foreign exchange gains or losses on derivatives in hedge relationships are substantially offset by the retranslation at spot exchange rates of the foreign currency denominated debt being hedged.

3Consists of derivative trades settled directly with central clearing counterparties and their associated variation margin. Refer to Note 24.

Credit default swaps

The Group buys and sells credit protection through the use of credit default swap (CDS) derivatives. These CDSs either protect the Group (as a buyer) or expose it (as a seller) to the risk of default of the entity referenced by the CDS. The CDSs are predominantly executed with other financial institutions and are entered into to facilitate institutional customer transactions and to manage the Group’s credit risk exposures.

The notional amount and fair value of CDSs are presented in the following table for both the Group and the Parent Entity:

	2018			2017
	Notional	Fair value		Notional	Fair value
$m	Amount	Asset	Liability	Amount	Asset	Liability
Credit protection bought	6,895	3	(101)	5,630	5	(78)
Credit protection sold	6,641	99	-	5,277	74	-
Total	13,536	102	(101)	10,907	79	(78)

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Financial risk

12 Months Ended

Sep. 30, 2018

Financial risk

Financial risk

Note 22. Financial risk

Financial instruments are fundamental to the Group’s business of providing banking and financial services.  The associated financial risks (including credit risk, funding and liquidity risk and market risk) are a significant proportion of the total risks faced by the Group.

This note details the financial risk management policies, practices and quantitative information of the Group’s principal financial risk exposures.

Principal financial risks	Note name	Note number
Overview	Risk management frameworks	22.1
Credit risk	Credit risk ratings system	22.2.1
The risk of financial loss where a customer or counterparty fails to meet their financial obligations.	Credit risk mitigation, collateral and other credit enhancements	22.2.2
	Credit risk concentrations	22.2.3
	Credit quality of financial assets	22.2.4
	Financial assets that are past due, but not impaired	22.2.5
	Items 90 days past due, or otherwise in default, and not impaired	22.2.6
	Impaired loans	22.2.7
	Collateral held	22.2.8
Funding and liquidity risk	Liquidity modelling	22.3.1
The risk that the Group will be unable to fund assets and meet obligations as they become due.	Sources of liquidity	22.3.2
	Assets pledged as collateral	22.3.3
	Contractual maturity of financial liabilities	22.3.4
	Expected maturity	22.3.5
Market risk	Value-at-Risk (VaR)	22.4.1
The risk of an adverse impact on earnings resulting from changes in market factors, such as foreign exchange rates, interest rates, commodity prices and equity prices.	Traded market risk	22.4.2
	Non-traded market risk	22.4.3

22.1 Risk management frameworks

The Board is responsible for approving the Westpac Group Risk Management Strategy and Westpac Group Risk Appetite Statement and for monitoring the effectiveness of risk management by the Westpac Group. The Board has delegated to the Board Risk and Compliance Committee (BRCC) responsibility to:

§ review and recommend the Westpac Group Risk Management Strategy and Westpac Group Risk Appetite Statement to the Board for approval;

§ set risk appetite consistent with the Group Risk Appetite Statement;

§ approve frameworks, policies and processes for managing risk (consistent with the Westpac Group Risk Management Strategy and Westpac Group Risk Appetite Statement); and

§ review and, where appropriate, approve risks beyond the approval discretion provided to management.

For each of its primary financial risks, the Group maintains risk management frameworks and a number of supporting policies that define roles and responsibilities, acceptable practices, limits and key controls:

Risk	Risk management framework and controls
Credit risk	§	The Credit Risk Management Framework describes the principles, methodologies, systems, roles and responsibilities, reports and key controls for managing credit risk.
	§	The BRCC, Westpac Group Executive Risk Committee (RISKCO) and Westpac Group Credit Risk Committee (CREDCO) monitor the risk profile, performance and management of the Group’s credit portfolio and the development and review of key credit risk policies.
	§	The Credit Risk Rating System Policy describes the credit risk rating system philosophy, design, key features and uses of rating outcomes.
	§	All models materially impacting the risk rating process are periodically reviewed in accordance with Westpac’s model risk policies.
	§	An annual review is performed of the Credit Risk Rating System by the BRCC and CREDCO.
	§	Specific credit risk estimates (including probability of default (PD), loss given default (LGD) and exposure at default (EAD) levels) are overseen, reviewed annually and supported by the Credit Risk Estimates Committee (a subcommittee of CREDCO) prior to approval under delegated authority from the Chief Risk Officer.
	§	Policies for the delegation of credit approval authorities and formal limits for the extension of credit are established throughout the Group.
	§	Credit manuals are established throughout the Group including policies governing the origination, evaluation, approval, documentation, settlement and ongoing management of credit risks.
	§	Sector policies guide credit extension where industry-specific guidelines are considered necessary (e.g. acceptable financial ratios or permitted collateral).
	§	The Related Entity Risk Management Framework and supporting policies govern credit exposures to related entities, to minimise the spread of credit risk between Group entities and to comply with prudential requirements prescribed by APRA.
Funding and liquidity risk	§	The Liquidity Risk Management Framework sets out the Group’s approach to managing liquidity risk. It is part of the Group’s board-approved Risk Management Strategy and sets out the Group’s liquidity risk appetite, roles and responsibilities of key people, managing liquidity risk within the Group, risk reporting and control processes, limits and targets for minimum liquid asset holdings and the wholesale funding and ratios used to manage the Group’s balance sheet.
	§	The Group’s Treasury function is responsible for managing funding and liquidity including managing the balance sheet against approved limits and targets and managing the Group’s funding base so that it is appropriately maintained, stable and diversified. Group Treasury manages a  portfolio of liquid assets held by the Group for several purposes, including as a buffer against unforeseen funding requirements. The level of liquid assets held takes into account the liquidity requirements of Westpac’s balance sheet under normal and stress conditions.
	§	Daily liquidity risk reports are reviewed by Treasury and the Group’s Liquidity risk teams.  Liquidity reports are presented to ALCO monthly and to the BRCC quarterly.
	§	Group Treasury undertakes an annual funding review that outlines the Group’s balance sheet funding strategy over a three year period. This review encompasses trends in global markets, peer analysis, wholesale funding capacity, expected funding requirements and a funding risk analysis. This strategy is continuously reviewed to take account of changing market conditions, investor sentiment and estimations of asset and liability growth rates.
	§	Group Treasury also maintains a contingent funding plan that outlines the steps that should be taken by the Group in the event of an emerging ‘funding crisis’. The plan is aligned with Westpac’s broader Liquidity Crisis Management Policy which is approved annually by the Board.

Risk	Risk management framework and controls
Market risk	§	The Market Risk Framework describes the Group’s approach to managing traded and non-traded market risk.
	§	Traded market risk includes interest rate, foreign exchange, commodity, equity price, credit spread and volatility risks. Non-traded market risk includes interest rate and credit spread risks.
	§	Market risk is managed using VaR limits, Net interest income at risk (NaR) and structural risk limits (including credit spread and interest rate basis point value limits) as well as scenario analysis and stress testing.
	§	The BRCC approves the risk appetite for traded and non-traded risks through the use of VaR, NaR and specific structural risk limits.
	§	Westpac Group Market Risk Committee (MARCO) has approved separate VaR sub-limits for the trading activities of Financial Markets and Treasury and for Asset and Liability Management (ALM) activities.
	§	Market risk limits are assigned to business managers based upon business strategies, experience, and the consideration of market liquidity and the concentration of risks.
	§	Market risk positions are managed by the trading desks and ALM unit consistent with their delegated authorities and the nature and scale of the market risks involved.
	§	Daily monitoring of current exposure and limit utilisation is conducted independently by the Market Risk unit, which monitors market risk exposures against VaR and structural risk limits. Daily VaR position reports are produced by risk type, by product lines and by geographic region. Quarterly reports are produced for the MARCO, RISKCO and the BRCC.
	§	Daily stress testing and backtesting of VaR results are performed to support model integrity and to analyse extreme or unexpected movements. A review of both the potential profit and loss outcomes is also undertaken to monitor any skew created by the historical data. MARCO has ratified an approved escalation framework.
	§	The BRCC has approved a framework for profit or loss escalation which considers both single day and 20 day cumulative results.
	§	Treasury’s ALM unit is responsible for managing the non-traded interest rate risk including risk mitigation through hedging using derivatives. This is overseen by the Market Risk unit and reviewed by MARCO, RISKCO and BRCC.

Further details regarding the Group’s principal risks including our strategic approach to their management is contained within the Corporate governance statement in Section 1 and the Risk and risk management section in Section 2.

22.2 Credit Risk

22.2.1 Credit risk ratings system

The principal objective of the credit risk rating system is to reliably assess the credit risk to which the Group is exposed. The Group has two main approaches to this assessment.

Transaction-managed customers

The Group assigns a Customer Risk Grade (CRG) to each customer, corresponding to their expected PD. Each facility is assigned an LGD. The Group’s risk rating system has a tiered scale of risk grades for both non-defaulted customers and defaulted customers. Non-defaulted CRGs are mapped to Moody’s and S&P Global Ratings (S&P) external senior ranking unsecured ratings.

Customer risk grades

The table below maps the Group’s high level CRGs to their corresponding external rating.

Financial statement disclosure	Westpac CRG	Moody’s Rating	S&P Rating
Strong	A	Aaa – Aa3	AAA – AA–
	B	A1 – A3	A+ – A–
	C	Baa1 – Baa3	BBB+ – BBB–
Good/satisfactory	D	Ba1 – B1	BB+ – B+
		Westpac Rating
Weak	E	Watchlist
	F	Special Mention
Weak/default/non-performing	G	Substandard/Default
	H	Default

Program-managed portfolio

Customers that are not transaction-managed are grouped into pools of similar risk. Pools are created by analysing similar risk characteristics that have historically predicted that an account is likely to go into default. Customers grouped according to these predictive characteristics are assigned a PD and LGD relative to their pool. The credit quality of these pools is based on a combination of delinquency trends, PD estimates and loan to valuation ratio (housing loans only).

22.2.2 Credit risk mitigation, collateral and other credit enhancements

Westpac uses a variety of techniques to reduce the credit risk arising from its lending activities.

This includes the Group establishing that it has direct, irrevocable and unconditional recourse to collateral and other credit enhancements through obtaining legally enforceable documentation.

Collateral

The table below describes the nature of collateral or security held for each relevant class of financial asset:

Loans – housing and personal1	Housing loans are secured by a mortgage over property and additional security may take the form of guarantees and deposits. Personal lending (including credit cards and overdrafts) is predominantly unsecured. Where security is taken, it is restricted to eligible motor vehicles, caravans, campers, motor homes and boats.
Loans – business1	Business loans may be secured, partially secured or unsecured. Security is typically taken by way of a mortgage over property and/or a general security agreement over business assets or other assets. Other security such as guarantees, standby letters of credit or derivative protection may also be taken as collateral, if appropriate.
Trading securities, financial assets designated at fair value and derivatives	These exposures are carried at fair value which reflects the credit risk. For trading securities, no collateral is sought directly from the issuer or counterparty; however this may be implicit in the terms of the instrument (such as an asset-backed security). The terms of debt securities may include collateralisation. For derivatives, master netting agreements are typically used to enable the effects of derivative assets and liabilities with the same counterparty to be offset when measuring these exposures. Additionally, collateralisation agreements are also typically entered into with major institutional counterparties to avoid the potential build-up of excessive mark-to-market positions. Derivative transactions are increasingly being cleared through central clearers.

1This includes collateral held in relation to associated credit commitments.

Management of risk mitigation

The Group mitigates credit risk through controls covering:

Collateral and valuation management	The estimated realisable value of collateral held in support of loans is based on a combination of:
	§	formal valuations currently held for such collateral; and
	§	management’s assessment of the estimated realisable value of all collateral held.
	This analysis also takes into consideration any other relevant knowledge available to management at the time. Updated valuations are obtained when appropriate.
	The Group revalues collateral related to financial markets positions on a daily basis and has formal processes in place to promptly call for collateral top-ups, if required. These processes include margining for non-centrally cleared customer derivatives as regulated by Australian Prudential Standard CPS226. The collateralisation arrangements are documented via the Credit Support Annex of the International Swaps and Derivatives Association (ISDA) dealing agreements.
	In relation to financial markets positions, Westpac only recognises collateral which is:
	§	cash, primarily in Australian dollars (AUD), New Zealand dollars (NZD), US dollars (USD), Canadian dollars (CAD), British pounds (GBP) or European Union euro (EUR);
	§	bonds issued by Australian Commonwealth, State and Territory governments or their Public Sector Enterprises, provided these attract a zero risk-weighting under Australian Prudential Standard (APS) 112;
	§	securities issued by other specified Aa3 / AA– or better rated sovereign governments.
Other credit enhancements	The Group only recognises guarantees, standby letters of credit, or credit derivative protection from the following entities (provided they are not related to the entity with which Westpac has a credit exposure):
	§	Sovereign;
	§	Australia and New Zealand public sector;
	§	ADIs and overseas banks with a minimum risk grade equivalent of A3 / A–; and
	§	Others with a minimum risk grade equivalent of A3 / A–.
	Credit Portfolio Management (CPM) manages the Group’s corporate, sovereign and bank credit portfolios through monitoring the exposure and any offsetting hedge positions.
	CPM purchases credit protection from entities meeting the criteria above and sells credit protection to diversify the Group’s credit risk.
Offsetting	Creditworthy customers domiciled in Australia and New Zealand may enter into formal agreements with the Group, permitting the Group to set-off gross credit and debit balances in their nominated accounts. Cross-border set-offs are not permitted.
	Close-out netting is undertaken with counterparties with whom the Group has entered into a legally enforceable master netting agreement for their off-balance sheet financial market transactions in the event of default.
	Further details of offsetting are provided in Note 24.
Central clearing	The Group executes derivative transactions through central clearing counterparties. Central clearing counterparties mitigate risk through stringent membership requirements, the collection of margin against all trades placed, the default fund, and an explicitly defined order of priority of payments in the event of default.

22.2.3 Credit risk concentrations

Credit risk is concentrated when a number of counterparties are engaged in similar activities, have similar economic characteristics and thus may be similarly affected by changes in economic or other conditions.

The Group monitors its credit portfolio to manage risk concentrations and rebalance the portfolio.

Individual customers or groups of related customers

The Group has large exposure limits governing the aggregate size of credit exposure normally acceptable to individual customers and groups of related customers. These limits are tiered by customer risk grade.

Specific industries

Exposures to businesses, governments and other financial institutions are classified into a number of industry clusters based on related Australian and New Zealand Standard Industrial Classification (ANZSIC) codes and are monitored against the Group’s industry risk appetite limits.

Individual countries

The Group has limits governing risks related to individual countries, such as political situations, government policies and economic conditions that may adversely affect either a customer’s ability to meet its obligations to the Group, or the Group’s ability to realise its assets in a particular country.

Maximum exposure to credit risk

The carrying amount of on-balance sheet financial assets (which comprises receivables due from financial institutions; trading securities and financial assets designated at fair value; derivatives; available-for-sale securities; loans; and regulatory deposits with central banks overseas) and undrawn credit commitments represents the maximum exposure to credit risk (excluding any collateral received), as set out in the following tables.

The following tables set out the credit risk concentrations to which the Group and the Parent Entity are exposed for on-balance sheet financial assets and for undrawn credit commitments. Cash and balances with central banks are excluded as it is not considered to give rise to material credit risk.

Life insurance assets are excluded as primarily the credit risk is passed on to the policyholder and backed by the policyholder liabilities.

The balances for trading securities and financial assets designated at fair value and available-for-sale securities exclude equity securities as the primary financial risk is not credit risk.

The credit concentrations for each significant class of financial asset are:

Trading securities and financial assets designated at fair value (Note 11)	§	40% (2017: 52%) were issued by financial institutions for the Group; 39% (2017: 50%) for the Parent Entity.
	§	56% (2017: 45%) were issued by government or semi-government authorities for the Group; 58% (2017: 47%) for the Parent Entity.
	§	76% (2017: 76%) were held in Australia by the Group; 80% (2017: 81%) by the Parent Entity.
Available-for-sale securities (Note12)	§	27% (2017: 26%) were issued by financial institutions for the Group; 28% (2017: 27%) for the Parent Entity.
	§	73% (2017: 74%) were issued by government or semi-government authorities for the Group; 72% (2017: 73%) for the Parent Entity.
	§	89% (2017: 90%) were held in Australia by the Group; 96% (2017: 98%) by the Parent Entity.
Loans (Note 13)	§	Note 13 provides a detailed breakdown of loans by industry and geographic classification.
Derivative financial instruments (Note 21)	§	79% (2017: 77%) were issued by financial institutions for both the Group and Parent Entity.
	§	84% (2017: 86%) were held in Australia by the Group; 86% (2017: 86%) by the Parent Entity.

		2018			2017
		Undrawn			Undrawn
	Total on	credit		Total on	credit
Consolidated	balance	commit-		balance	commit-
$m	sheet	ments	Total	sheet	ments	Total
Australia
Accommodation, cafes and restaurants	8,306	1,404	9,710	8,189	1,468	9,657
Agriculture, forestry and fishing	8,651	2,035	10,686	8,193	2,155	10,348
Construction	6,756	3,324	10,080	6,050	3,666	9,716
Finance and insurance	57,153	7,781	64,934	59,432	8,415	67,847
Government, administration and defence	49,830	728	50,558	49,341	813	50,154
Manufacturing	9,968	5,738	15,706	9,784	6,186	15,970
Mining	3,637	3,079	6,716	3,411	3,568	6,979
Property	45,814	12,309	58,123	43,640	12,046	55,686
Property services and business services	13,561	5,596	19,157	12,119	5,145	17,264
Services	12,297	5,700	17,997	13,198	6,082	19,280
Trade	16,809	7,951	24,760	16,401	8,712	25,113
Transport and storage	9,587	4,958	14,545	9,554	6,038	15,592
Utilities	5,281	3,471	8,752	6,418	4,216	10,634
Retail lending	463,609	86,421	550,030	451,315	88,363	539,678
Other	6,781	1,597	8,378	4,360	1,519	5,879
Total Australia	718,040	152,092	870,132	701,405	158,392	859,797
New Zealand
Accommodation, cafes and restaurants	323	39	362	290	42	332
Agriculture, forestry and fishing	8,188	684	8,872	7,809	745	8,554
Construction	504	429	933	450	397	847
Finance and insurance	6,919	1,437	8,356	7,626	2,038	9,664
Government, administration and defence	4,767	691	5,458	5,051	549	5,600
Manufacturing	2,307	1,577	3,884	2,185	1,527	3,712
Mining	213	101	314	144	197	341
Property	6,236	1,035	7,271	5,901	1,039	6,940
Property services and business services	1,108	512	1,620	1,142	405	1,547
Services	1,758	613	2,371	1,834	604	2,438
Trade	2,568	1,023	3,591	2,215	1,176	3,391
Transport and storage	1,102	791	1,893	1,118	847	1,965
Utilities	1,415	1,564	2,979	1,822	1,302	3,124
Retail lending	46,614	12,114	58,728	45,190	11,995	57,185
Other	1	245	246	3	227	230
Total New Zealand	84,023	22,855	106,878	82,780	23,090	105,870
Other overseas
Accommodation, cafes and restaurants	112	12	124	97	13	110
Agriculture, forestry and fishing	19	1	20	5	1	6
Construction	71	121	192	55	242	297
Finance and insurance	7,845	3,454	11,299	7,713	3,182	10,895
Government, administration and defence	4,246	50	4,296	3,071	1	3,072
Manufacturing	3,364	4,849	8,213	3,107	4,259	7,366
Mining	353	1,793	2,146	378	1,518	1,896
Property	467	57	524	491	40	531
Property services and business services	1,754	733	2,487	542	508	1,050
Services	207	448	655	205	105	310
Trade	2,993	3,330	6,323	2,680	2,458	5,138
Transport and storage	1,232	222	1,454	1,426	437	1,863
Utilities	763	329	1,092	544	260	804
Retail lending	683	45	728	657	37	694
Other	178	6	184	78	8	86
Total other overseas	24,287	15,450	39,737	21,049	13,069	34,118
Total gross credit risk	826,350	190,397	1,016,747	805,234	194,551	999,785

		2018			2017
		Undrawn			Undrawn
	Total on	credit		Total on	credit
Parent Entity	balance	commit-		balance	commit-
$m	sheet	ments	Total	sheet	ments	Total
Australia
Accommodation, cafes and restaurants	8,237	1,404	9,641	8,110	1,468	9,578
Agriculture, forestry and fishing	8,593	2,035	10,628	8,073	2,155	10,228
Construction	6,252	3,324	9,576	5,447	3,666	9,113
Finance and insurance	56,687	7,781	64,468	58,589	8,415	67,004
Government, administration and defence	49,824	728	50,552	49,330	813	50,143
Manufacturing	9,742	5,738	15,480	9,511	6,186	15,697
Mining	3,605	3,078	6,683	3,371	3,568	6,939
Property	45,812	12,309	58,121	43,641	12,043	55,684
Property services and business services	12,517	5,595	18,112	11,047	5,143	16,190
Services	12,029	5,700	17,729	12,853	6,081	18,934
Trade	16,598	7,949	24,547	16,098	8,691	24,789
Transport and storage	9,190	4,957	14,147	9,097	6,038	15,135
Utilities	5,255	3,471	8,726	6,386	4,216	10,602
Retail lending	462,568	86,421	548,989	449,207	88,362	537,569
Other	5,949	1,574	7,523	3,385	1,518	4,903
Total Australia	712,858	152,064	864,922	694,145	158,363	852,508
New Zealand
Accommodation, cafes and restaurants	-	-	-	-	-	-
Agriculture, forestry and fishing	52	7	59	38	7	45
Construction	7	22	29	6	13	19
Finance and insurance	2,761	50	2,811	3,230	56	3,286
Government, administration and defence	994	29	1,023	929	23	952
Manufacturing	206	97	303	183	110	293
Mining	7	1	8	3	3	6
Property	52	8	60	43	10	53
Property services and business services	43	31	74	38	57	95
Services	25	44	69	25	64	89
Trade	322	234	556	269	216	485
Transport and storage	73	87	160	38	89	127
Utilities	372	146	518	498	128	626
Retail lending	1	19	20	-	33	33
Other	1	1	2	5	4	9
Total New Zealand	4,916	776	5,692	5,305	813	6,118
Other overseas
Accommodation, cafes and restaurants	70	12	82	88	13	101
Agriculture, forestry and fishing	4	1	5	4	1	5
Construction	59	113	172	44	237	281
Finance and insurance	7,641	3,442	11,083	7,420	3,161	10,581
Government, administration and defence	3,469	50	3,519	2,449	1	2,450
Manufacturing	3,359	4,741	8,100	3,089	4,166	7,255
Mining	354	1,791	2,145	378	1,516	1,894
Property	234	31	265	288	34	322
Property services and business services	1,665	730	2,395	527	507	1,034
Services	188	445	633	74	101	175
Trade	2,807	3,216	6,023	2,446	2,354	4,800
Transport and storage	1,127	214	1,341	1,196	414	1,610
Utilities	761	329	1,090	538	259	797
Retail lending	277	40	317	280	34	314
Other	99	4	103	82	5	87
Total other overseas	22,114	15,159	37,273	18,903	12,803	31,706
Total gross credit risk	739,888	167,999	907,887	718,353	171,979	890,332

22.2.4 Credit quality of financial assets

An asset is considered to be past due when any payment under the contractual terms has been missed. The entire contractual balance is considered to be past due, rather than only the overdue portion. Assets may be overdue for a number of reasons, including late payments or incomplete documentation. Late payment may be influenced by the timing of weekends and holidays. This does not always align with the underlying basis by which credit risk is managed.

The tables below segregate the financial assets of the Group and Parent Entity between financial assets that are neither past due nor impaired, past due but not impaired and impaired. The credit quality of financial assets that are neither past due nor impaired is determined by reference to the credit risk ratings system (refer to Note 22.2.1).

	Neither past due nor impaired
					Past due				Total
Consolidated 2018		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	5,775	15	-	5,790	-	-	5,790	-	5,790
Trading securities and financial assets designated at fair value1	21,720	145	-	21,865	-	-	21,865	-	21,865
Derivative financial instruments	23,692	406	3	24,101	-	-	24,101	-	24,101
Available-for-sale securities1	60,229	506	-	60,735	-	-	60,735	-	60,735
Loans:
Loans - housing and personal	379,383	114,627	4,365	498,375	16,162	687	515,224	(1,303)	513,921
Loans - business	90,408	97,369	4,481	192,258	4,293	729	197,280	(1,511)	195,769
Regulatory deposits with central banks overseas	1,122	233	-	1,355	-	-	1,355	-	1,355
Other financial assets2	4,064	392	18	4,474	37	3	4,514	-	4,514
Total	586,393	213,693	8,867	808,953	20,492	1,419	830,864	(2,814)	828,050

	Neither past due nor impaired
					Past due				Total
Consolidated 2017		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	7,119	9	-	7,128	-	-	7,128	-	7,128
Trading securities and financial assets designated at fair value1	24,973	22	-	24,995	-	-	24,995	-	24,995
Derivative financial instruments	23,184	815	33	24,032	-	1	24,033	-	24,033
Available-for-sale securities1	59,752	493	-	60,245	-	-	60,245	-	60,245
Loans:
Loans - housing and personal	363,026	113,363	3,542	479,931	16,539	681	497,151	(1,331)	495,820
Loans - business	86,437	95,556	4,507	186,500	3,273	861	190,634	(1,535)	189,099
Regulatory deposits with central banks overseas	814	234	-	1,048	-	-	1,048	-	1,048
Other financial assets2	4,340	364	14	4,718	34	3	4,755	-	4,755
Total3	569,645	210,856	8,096	788,597	19,846	1,546	809,989	(2,866)	807,123

1Equity securities are excluded from these balances and as a result the total carrying value will not represent the balance reported on the balance sheet.

2Other financial assets include accrued interest of $1,276 million (2017: $1,193 million) which is allocated to the relevant credit quality classifications in proportion to the loan balances to which it relates. Securities sold not yet delivered of $1,264 million (2017: $1,408 million) are also included in this balance which is allocated proportionately based on the trading securities balance classifications.

3Comparatives have been revised for consistency.

	Neither past due nor impaired
					Past due				Total
Parent Entity 2018		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	5,709	2	-	5,711	-	-	5,711	-	5,711
Trading securities and financial assets designated at fair value1	20,201	145	-	20,346	-	-	20,346	-	20,346
Derivative financial instruments	23,155	404	3	23,562	-	-	23,562	-	23,562
Available-for-sale securities1	56,443	3	-	56,446	-	-	56,446	-	56,446
Loans:
Loans - housing and personal	359,843	87,667	4,050	451,560	15,044	572	467,176	(1,125)	466,051
Loans - business	76,995	80,572	3,412	160,979	3,838	582	165,399	(1,282)	164,117
Regulatory deposits with central banks overseas	1,122	126	-	1,248	-	-	1,248	-	1,248
Due from subsidiaries	140,597	-	-	140,597	-	-	140,597	-	140,597
Other financial assets2	3,321	306	15	3,642	33	2	3,677	-	3,677
Total	687,386	169,225	7,480	864,091	18,915	1,156	884,162	(2,407)	881,755

	Neither past due nor impaired
					Past due				Total
Parent Entity 2017		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	6,352	5	-	6,357	-	-	6,357	-	6,357
Trading securities and financial assets designated at fair value1	22,870	5	-	22,875	-	-	22,875	-	22,875
Derivative financial instruments	22,974	815	33	23,822	-	1	23,823	-	23,823
Available-for-sale securities1	55,737	6	-	55,743	-	-	55,743	-	55,743
Loans:
Loans - housing and personal	344,739	85,673	3,223	433,635	15,312	542	449,489	(1,091)	448,398
Loans - business	74,019	78,584	2,981	155,584	2,843	694	159,121	(1,282)	157,839
Regulatory deposits with central banks overseas	814	131	-	945	-	-	945	-	945
Due from subsidiaries	142,455	-	-	142,455	-	-	142,455	-	142,455
Other financial assets2	3,681	278	10	3,969	31	2	4,002	-	4,002
Total3	673,641	165,497	6,247	845,385	18,186	1,239	864,810	(2,373)	862,437

Details of collateral held in support of these balances are provided in Note 22.2.8.

1Equity securities are excluded from these balances and as a result the total carrying value will not represent the balance reported on the balance sheet.

2Other financial assets include accrued interest of $1,103 million (2017: $1,029 million) which is allocated to the relevant credit quality classifications in proportion to the loan balances to which it relates. Securities sold not yet delivered of $1,264 million (2017: $1,388 million) are also included in this balance which is allocated proportionately based on the trading securities balance classifications.

3Comparatives have been revised for consistency.

22.2.5 Financial assets that are past due, but not impaired

Financial assets that were past due, but not impaired, can be disaggregated based on days overdue at 30 September as follows:

Consolidated		2018				2017
$m	1-5 days	6-89 days	90+ days	Total	1-5 days	6-89 days	90+ days	Total
Loans:
Loans - housing and personal	3,440	9,688	3,034	16,162	4,515	9,331	2,693	16,539
Loans - business	1,170	2,558	565	4,293	698	2,085	490	3,273
Other financial assets	8	23	6	37	9	19	6	34
Total	4,618	12,269	3,605	20,492	5,222	11,435	3,189	19,846

Parent Entity		2018				2017
$m	1-5 days	6-89 days	90+ days	Total	1-5 days	6-89 days	90+ days	Total
Loans:
Loans - housing and personal	3,179	8,895	2,970	15,044	4,216	8,471	2,625	15,312
Loans - business	1,054	2,285	499	3,838	603	1,810	430	2,843
Other financial assets	7	20	6	33	8	18	5	31
Total	4,240	11,200	3,475	18,915	4,827	10,299	3,060	18,186

Details of collateral held in support of these balances are provided in Note 22.2.8.

22.2.6 Items 90 days past due, or otherwise in default, and not impaired

These include financial assets that are:

§ currently 90 days or more past due but well secured1;

§ assets that were, but are no longer 90 days past due but are yet to satisfactorily demonstrate sustained improvement to allow reclassification; and

§ other assets in default and not impaired, including those where an order for bankruptcy or similar legal action has been taken (e.g. appointment of an Administrator or Receiver).

Consolidated	Gross amount
$m	2018	2017	2016
Australia	3,861	3,322	3,075
New Zealand	127	117	89
Other overseas	29	19	17
Total	4,017	3,458	3,181

1The estimated net realisable value of security to which the Group has recourse is sufficient to cover all principal and interest as at 30 September.

22.2.7 Impaired loans

The determination of the provision for impairment is one of the Group’s critical accounting assumptions and estimates.  Details of this and the Group’s accounting policy for the provision for impairment charges are discussed in Notes 6 and 14.

Impaired loans are those for which there is objective evidence that their principal or interest payments may not be recoverable. These include:

§ non-performing loans (aligned to an impaired internal credit risk grade);

§ unsecured facilities including overdrafts, personal loans and revolving credit facilities which are greater than 90 days past due; and

§ restructured loans (the original contractual terms have been modified to provide for concessions for a customer facing financial difficulties).

The gross amount of impaired loans, along with the provision for impairment, by class of asset at 30 September, is summarised in the tables below:

Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
$m	Personal	Business	Total	Personal	Business	Total
Individually impaired
Gross amount	165	532	697	164	692	856
Impairment provision	(106)	(316)	(422)	(104)	(376)	(480)
Carrying amount	59	216	275	60	316	376
Collectively impaired
Gross amount	522	197	719	517	169	686
Impairment provision	(196)	(35)	(231)	(202)	(32)	(234)
Carrying amount	326	162	488	315	137	452
Total gross amount	687	729	1,416	681	861	1,542
Total impairment provision	(302)	(351)	(653)	(306)	(408)	(714)
Total carrying amount	385	378	763	375	453	828
Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
$m	Personal	Business	Total	Personal	Business	Total
Individually impaired
Gross amount	130	400	530	121	534	655
Impairment provision	(85)	(290)	(375)	(83)	(334)	(417)
Carrying amount	45	110	155	38	200	238
Collectively impaired
Gross amount	442	182	624	421	160	581
Impairment provision	(156)	(15)	(171)	(162)	(17)	(179)
Carrying amount	286	167	453	259	143	402
Total gross amount	572	582	1,154	542	694	1,236
Total impairment provision	(241)	(305)	(546)	(245)	(351)	(596)
Total carrying amount	331	277	608	297	343	640

The gross amount of impaired loans, along with the provision for impairment, by type and geography of impaired loans at 30 September, is summarised in the table below:

Consolidated
$m	2018	2017	2016	2015	2014
Australia
Non-performing loans
Gross amount	882	975	1,589	1,220	1,580
Impairment provision	(422)	(460)	(769)	(572)	(697)
Net	460	515	820	648	883
Restructured loans
Gross amount	9	12	13	22	34
Impairment provision	(1)	(7)	(11)	(12)	(23)
Net	8	5	2	10	11
Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Gross amount	358	362	267	252	203
Impairment provision	(179)	(187)	(159)	(164)	(132)
Net	179	175	108	88	71
New Zealand
Non-performing loans
Gross amount	124	152	218	348	397
Impairment provision	(30)	(41)	(95)	(104)	(130)
Net	94	111	123	244	267
Restructured loans
Gross amount	14	15	16	17	-
Impairment provision	(4)	(5)	(4)	(4)	-
Net	10	10	12	13	-
Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Gross amount	12	11	10	10	13
Impairment provision	(9)	(8)	(7)	(7)	(9)
Net	3	3	3	3	4
Other overseas
Non-performing loans
Gross amount	13	15	44	25	53
Impairment provision	(6)	(6)	(21)	(13)	(35)
Net	7	9	23	12	18
Restructured loans
Gross amount	3	-	2	-	59
Impairment provision	(1)	-	(1)	-	(21)
Net	2	-	1	-	38
Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Gross amount	1	-	-	1	1
Impairment provision	(1)	-	-	(1)	-
Net	-	-	-	-	1
Total net impaired assets	763	828	1,092	1,018	1,293

Details of collateral held in support of these balances are provided in Note 22.2.8.

The following table summarises the interest received and forgone on non-performing loans and restructured financial assets:

Consolidated 2018
$m	Australia	Overseas	Total
Interest received	3	8	11
Interest forgone	31	-	31

22.2.8 Collateral held

Loans

The Group analyses the coverage of the loan portfolio which is secured by the collateral that it holds.  Coverage is measured as follows:

Coverage	Secured loan to collateral value ratio
Fully secured	Less than or equal to 100%
Partially secured	Greater than 100% but not more than 150%
Unsecured	Greater than 150%, or no security held (e.g. can include credit cards, personal loans, and exposure to highly rated corporate entities)

The Group’s loan portfolio has the following coverage from collateral held:

Neither past due nor impaired

Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	97.5	55.8	85.9	97.0	54.0	84.9
Partially secured	0.6	22.9	6.8	0.9	25.7	7.9
Unsecured	1.9	21.3	7.3	2.1	20.3	7.2
Total	100.0	100.0	100.0	100.0	100.0	100.0
Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	98.1	57.8	87.5	97.9	55.4	86.7
Partially secured	0.3	20.4	5.6	0.3	23.7	6.5
Unsecured	1.6	21.8	6.9	1.8	20.9	6.8
Total	100.0	100.0	100.0	100.0	100.0	100.0
Past due but not impaired
Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	94.6	52.8	85.8	93.9	58.2	87.9
Partially secured	2.0	28.2	7.5	2.6	28.3	6.9
Unsecured	3.4	19.0	6.7	3.5	13.5	5.2
Total	100.0	100.0	100.0	100.0	100.0	100.0

Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	95.7	54.7	87.3	96.4	60.2	90.8
Partially secured	1.5	25.0	6.3	0.6	25.7	4.5
Unsecured	2.8	20.3	6.4	3.0	14.1	4.7
Total	100.0	100.0	100.0	100.0	100.0	100.0

Impaired

Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	72.8	32.0	51.8	69.5	17.3	40.3
Partially secured	10.0	11.5	10.8	10.7	25.7	19.1
Unsecured	17.2	56.5	37.4	19.8	57.0	40.6
Total	100.0	100.0	100.0	100.0	100.0	100.0
Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	76.4	28.5	52.2	73.2	19.6	43.1
Partially secured	6.5	13.1	9.8	6.3	17.1	12.4
Unsecured	17.1	58.4	38.0	20.5	63.3	44.5
Total	100.0	100.0	100.0	100.0	100.0	100.0

Collateral held against financial assets other than loans

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash, primarily for derivatives	2,187	2,480	1,751	2,354
Securities under reverse repurchase agreements1	1,404	6,814	1,404	6,814
Securities under derivatives and stock borrowing1	28	32	28	32
Total other collateral held	3,619	9,326	3,183	9,200

1Securities received as collateral are not recognised on the Group and Parent Entity’s balance sheet.

22.3Funding and liquidity risk

22.3.1 Liquidity modelling

In managing liquidity for the Group, Treasury utilises balance sheet forecasts and the maturity profile of the Group’s wholesale funding portfolio to project liquidity outcomes. Regional liquidity limits are also used by the Group to ensure liquidity is managed efficiently and prudently in other geographies.

In addition, the Group conducts regular stress testing to assess Westpac’s ability to meet cash flow obligations under a range of market conditions and scenarios. These scenarios inform liquidity limits and strategic planning.

The forecasting, planning and stress testing outcomes are used by the Group to inform liquidity modelling to assist the Group in meeting its regulatory requirements as required under APRA’s liquidity prudential standard, being the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR). Westpac’s LCR and NSFR are above the regulatory requirement of 100%.

22.3.2 Sources of liquidity

Sources of liquidity are regularly reviewed to maintain a wide diversification by currency, geography, product and term. Sources include, but are not limited to:

§ deposits;

§ debt issues;

§ proceeds from sale of marketable securities;

§ repurchase agreements with central banks;

§ principal repayments on loans;

§ interest income; and

§ fee income.

Liquid assets

Treasury holds a portfolio of high-quality liquid assets as a buffer against unforeseen funding requirements. These assets are eligible for repurchase agreements with the Reserve Bank of Australia (RBA) or another central bank and are held in cash, Government, State Government and highly rated investment grade securities. The level of liquid asset holdings is reviewed frequently and is consistent with both the requirements of the balance sheet and market conditions.

Liquid assets that qualify as eligible collateral for repurchase agreements with a central bank (including internal securitisation) increased by $15.9 billion to $153.7 billion over the last 12 months.

A summary of the Group’s liquid asset holdings is as follows:

	2018		2017
$m	Actual	Average	Actual	Average
Cash	25,476	21,912	17,339	20,594
Receivables due from other financial institutions	816	745	834	662
Trading securities and financial assets designated at fair value	10,529	9,412	11,405	12,891
Available-for-sale securities	60,667	62,892	59,735	59,887
Loans1	55,500	55,336	47,935	48,561
Regulatory deposits with central banks	706	639	549	628
Total liquid assets	153,694	150,936	137,797	143,223

1Loans are self-originated AAA rated mortgage backed securities which are eligible for repurchase with the RBA and Reserve Bank of New Zealand.

Group’s funding composition

The Group monitors the composition and stability of its funding so that it remains within the Group’s funding risk appetite. This includes compliance with both the LCR and NSFR.

%	2018	2017
Customer deposits	63.1	61.8
Wholesale term funding with residual maturity greater than 12 months	15.7	15.2
Wholesale funding with a residual maturity less than 12 months	12.4	14.1
Securitisation	0.9	1.0
Equity	7.9	7.9
Group’s total funding	100.0	100.0

Movements in the Group’s funding composition in 2018 included:

§ Customer deposits increased by 127 basis points to 63.1% of the Group’s total funding at 30 September 2018, reflecting growth in term deposits;

§ Long term funding with a residual maturity greater than 12 months increased 45 basis points to 15.7% as the group continued to lengthen the tenor of its funding. Funding from securitisation was slightly lower at 0.9% of total funding;

§ Wholesale funding with a residual maturity less than 12 months decreased by 165 basis points to 12.4%. The Group’s short term funding portfolio (including long term to short term scroll) of $102 billion had a weighted average maturity of 151 days and is more than covered by the $153.7 billion of unencumbered repo-eligible liquid assets and cash held by the Group; and

§ Funding from equity was little changed at 7.9% of total funding.

Maintaining a diverse funding base with the capacity and flexibility to access a wide range of funding markets, investors, currencies, maturities and products is an important part of managing liquidity risk.  Westpac’s funding infrastructure supports its ability to meet changing and diverse investor demands. In 2018, the Group raised $32 billion of long term wholesale funding.  The majority of new issuance came in the form of senior unsecured and covered bond format, in core currencies of AUD, USD, EUR and GBP. The Group also continued to benefit from its position as the only major Australian bank with an active Auto ABS capability and the only Australian bank with access to the US SEC registered market, raising funds in both these markets during the year.

Long term wholesale funding also included $3.0 billion of Basel III compliant Additional Tier 1 and Tier 2 capital (see Note 20).

Borrowings and outstanding issuances from existing debt programs at 30 September 2018 can be found in Note 16, Note 17, Note 19 and Note 20.

Credit ratings

As at 30 September 2018 the Parent Entity’s credit ratings were:

2018	Short-term	Long-term	Outlook
S&P Global Ratings	A-1+	AA-	Negative
Moody’s Investors Service	P-1	Aa3	Stable
Fitch Ratings	F1+	AA-	Stable

If Westpac’s credit ratings were to be lowered from current levels, the Group’s borrowing costs and capacity may be adversely affected. A downgrade in Westpac’s credit ratings from current levels is likely to require the Group to pay higher interest rates than currently paid on our wholesale borrowings.

22.3.3 Assets pledged as collateral

The Group and Parent Entity are required to provide collateral to other financial institutions, as part of standard terms, to secure liabilities. In addition to assets supporting securitisation and covered bond programs disclosed in Note 25, the carrying value of these financial assets pledged as collateral is:

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash1	4,754	5,687	4,690	5,315
Cash deposit on stock borrowed	14	15	14	15
Securities (including certificates of deposit)	1,544	1,421	1,544	1,421
Securities pledged under repurchase agreements	12,492	18,746	12,492	18,728
Total amount pledged to secure liabilities	18,804	25,869	18,740	25,479

1Primarily comprised of receivables due from other financial institutions.

22.3.4 Contractual maturity of financial liabilities

The tables below present cash flows associated with financial liabilities, payable at the balance sheet date, by remaining contractual maturity. The amounts disclosed in the table are the future contractual undiscounted cash flows, whereas the Group manages inherent liquidity risk based on expected cash flows.

Cash flows associated with financial liabilities include both principal payments as well as fixed or variable interest payments incorporated into the relevant coupon period. Principal payments reflect the earliest contractual maturity date. Derivative liabilities designated for hedging purposes are expected to be held for their remaining contractual lives, and reflect gross cash flows over the remaining contractual term.

Derivatives held for trading and certain liabilities classified in “Other financial liabilities at fair value through income statement” are not managed for liquidity purposes on the basis of their contractual maturity, and accordingly these liabilities are presented in the up to 1 month column. Only the liabilities that the Group manages based on their contractual maturity are presented on a contractual undiscounted basis in the tables below.

Consolidated 2018	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	15,242	1,754	1,040	160	-	18,196
Deposits and other borrowings	352,941	85,726	108,427	16,771	75	563,940
Other financial liabilities at fair value through income statement	4,197	100	-	-	-	4,297
Derivative financial instruments:
Held for trading	22,869	-	-	-	-	22,869
Held for hedging purposes (net settled)	68	95	377	741	96	1,377
Held for hedging purposes (gross settled):
Cash outflow	2,680	5,140	406	2,799	1,258	12,283
Cash inflow	(2,658)	(5,096)	(337)	(2,527)	(1,178)	(11,796)
Debt issues	1,743	7,502	48,848	100,245	31,892	190,230
Other financial liabilities	1,639	591	2,657	-	-	4,887
Total financial liabilities excluding loan capital	398,721	95,812	161,418	118,189	32,143	806,283
Loan capital	8	79	253	4,866	16,509	21,715
Total undiscounted financial liabilities	398,729	95,891	161,671	123,055	48,652	827,998
Total contingent liabilities and commitments
Letters of credit and guarantees	15,585	-	-	-	-	15,585
Commitments to extend credit	174,658	-	-	-	-	174,658
Other commitments	154	-	-	-	-	154
Total undiscounted contingent liabilities and commitments	190,397	-	-	-	-	190,397

Consolidated 2017	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	16,496	4,438	1,014	23	-	21,971
Deposits and other borrowings	337,821	76,557	102,306	20,605	197	537,486
Other financial liabilities at fair value through income statement	3,253	803	-	-	-	4,056
Derivative financial instruments:
Held for trading	22,757	-	-	-	-	22,757
Held for hedging purposes (net settled)	98	146	489	1,088	108	1,929
Held for hedging purposes (gross settled):
Cash outflow	865	3,368	1,039	5,617	2,057	12,946
Cash inflow	(737)	(3,275)	(821)	(4,634)	(1,745)	(11,212)
Debt issues	3,111	10,492	46,730	101,045	18,796	180,174
Other financial liabilities	1,603	575	2,586	-	-	4,764
Total financial liabilities excluding
loan capital	385,267	93,104	153,343	123,744	19,413	774,871
Loan capital	5	86	729	4,781	16,548	22,149
Total undiscounted financial liabilities	385,272	93,190	154,072	128,525	35,961	797,020
Total contingent liabilities
and commitments
Letters of credit and guarantees	15,460	-	-	-	-	15,460
Commitments to extend credit	178,443	-	-	-	-	178,443
Other commitments	648	-	-	-	-	648
Total undiscounted contingent
liabilities and commitments	194,551	-	-	-	-	194,551
Parent Entity 2018	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	14,788	1,753	1,040	160	-	17,741
Deposits and other borrowings	320,365	74,530	94,855	14,606	75	504,431
Other financial liabilities at fair value through income statement	4,197	100	-	-	-	4,297
Derivative financial instruments:
Held for trading	23,039	-	-	-	-	23,039
Held for hedging purposes (net settled)	51	55	271	608	96	1,081
Held for hedging purposes (gross settled):
Cash outflow	2,632	4,725	377	2,174	726	10,634
Cash inflow	(2,615)	(4,687)	(324)	(2,043)	(644)	(10,313)
Debt issues	1,588	7,117	45,527	85,106	29,329	168,667
Due to subsidiaries	142,400	-	-	-	-	142,400
Other financial liabilities	1,598	510	2,294	-	-	4,402
Total financial liabilities excluding loan capital	508,043	84,103	144,040	100,611	29,582	866,379
Loan capital	8	79	253	4,866	16,509	21,715
Total undiscounted financial liabilities	508,051	84,182	144,293	105,477	46,091	888,094
Total contingent liabilities and commitments
Letters of credit and guarantees	14,957	-	-	-	-	14,957
Commitments to extend credit	152,943	-	-	-	-	152,943
Other commitments	99	-	-	-	-	99
Total undiscounted contingent liabilities and commitments	167,999	-	-	-	-	167,999

Parent Entity 2017	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	16,364	4,438	1,014	23	-	21,839
Deposits and other borrowings	306,013	65,078	91,055	18,618	197	480,961
Other financial liabilities at fair value
through income statement	3,235	803	-	-	-	4,038
Derivative financial instruments:
Held for trading	22,791	-	-	-	-	22,791
Held for hedging purposes (net settled)	83	128	409	1,000	106	1,726
Held for hedging purposes (gross settled):
Cash outflow	11	2,929	820	2,796	1,294	7,850
Cash inflow	-	(2,861)	(680)	(2,376)	(1,052)	(6,969)
Debt issues	2,069	9,127	42,116	84,960	16,270	154,542
Due to subsidiaries	143,834	-	-	-	-	143,834
Other financial liabilities	1,576	523	2,353	-	-	4,452
Total financial liabilities excluding loan capital	495,976	80,165	137,087	105,021	16,815	835,064
Loan capital	5	86	729	4,781	16,548	22,149
Total undiscounted financial liabilities	495,981	80,251	137,816	109,802	33,363	857,213
Total contingent liabilities and commitments
Letters of credit and guarantees	14,908	-	-	-	-	14,908
Commitments to extend credit	156,423	-	-	-	-	156,423
Other commitments	648	-	-	-	-	648
Total undiscounted contingent liabilities and commitments	171,979	-	-	-	-	171,979

22.3.5 Expected maturity

The tables below present the balance sheet based on expected maturity dates, except for deposits, based on historical behaviours. The liability balances in the following tables will not agree to the contractual maturity tables (Note 22.3.4) due to the analysis below being based on expected rather than contractual maturities, the impact of discounting and the exclusion of interest accruals beyond the reporting period. Included in the tables below are equity securities classified as trading securities, available-for-sale securities and life insurance assets that have no specific maturity. These assets have been classified based on the expected period of disposal. Deposits are presented in the following table on a contractual basis, however as part of our normal banking operations, the Group would expect a large proportion of these balances to be retained.

Consolidated 2018	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	26,431	-	26,431
Receivables due from other financial institutions	5,790	-	5,790
Trading securities and financial assets designated at fair value	11,869	10,265	22,134
Derivative financial instruments	17,828	6,273	24,101
Available-for-sale securities	6,959	54,160	61,119
Loans (net of provisions)	94,717	614,973	709,690
Life insurance assets	1,598	7,852	9,450
Regulatory deposits with central banks overseas	679	676	1,355
Investments in associates	-	115	115
All other assets	5,522	13,885	19,407
Total assets	171,393	708,199	879,592
Liabilities
Payables due to other financial institutions	17,988	149	18,137
Deposits and other borrowings	543,198	16,087	559,285
Other financial liabilities at fair value through income statement	4,297	-	4,297
Derivative financial instruments	17,346	7,061	24,407
Debt issues	53,930	118,666	172,596
Life insurance liabilities	1,547	6,050	7,597
All other liabilities	10,667	768	11,435
Total liabilities excluding loan capital	648,973	148,781	797,754
Loan capital	1,382	15,883	17,265
Total liabilities	650,355	164,664	815,019
Net assets/(net liabilities)	(478,962)	543,535	64,573

Consolidated 2017	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	18,397	-	18,397
Receivables due from other financial institutions	7,128	-	7,128
Trading securities and financial assets designated at fair value	11,258	14,066	25,324
Derivative financial instruments	18,346	5,687	24,033
Available-for-sale securities	7,988	52,722	60,710
Loans (net of provisions)	88,676	596,243	684,919
Life insurance assets	1,514	9,129	10,643
Regulatory deposits with central banks overseas	676	372	1,048
Investments in associates	-	60	60
All other assets	5,681	13,932	19,613
Total assets	159,664	692,211	851,875
Liabilities
Payables due to other financial institutions	21,885	22	21,907
Deposits and other borrowings	512,856	20,735	533,591
Other financial liabilities at fair value through income statement	4,056	-	4,056
Derivative financial instruments	18,435	6,940	25,375
Debt issues	56,952	111,404	168,356
Life insurance liabilities	1,457	7,562	9,019
All other liabilities	9,907	656	10,563
Total liabilities excluding loan capital	625,548	147,319	772,867
Loan capital	1,641	16,025	17,666
Total liabilities	627,189	163,344	790,533
Net assets/(net liabilities)	(467,525)	528,867	61,342
Parent Entity 2018	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	24,726	-	24,726
Receivables due from other financial institutions	5,711	-	5,711
Trading securities and financial assets designated at fair value	11,145	9,272	20,417
Derivative financial instruments	17,677	5,885	23,562
Available-for-sale securities	4,846	51,667	56,513
Loans (net of provisions)	76,389	553,779	630,168
Regulatory deposits with central banks overseas	571	677	1,248
Due from subsidiaries	140,597	-	140,597
Investments in associates	-	76	76
Investments in subsidiaries	-	4,508	4,508
All other assets	4,358	11,346	15,704
Total assets	286,020	637,210	923,230
Liabilities
Payables due to other financial institutions	17,533	149	17,682
Deposits and other borrowings	486,418	14,050	500,468
Other financial liabilities at fair value through income statement	4,297	-	4,297
Derivative financial instruments	17,317	6,912	24,229
Debt issues	50,499	101,789	152,288
Due to subsidiaries	142,400	-	142,400
All other liabilities	8,569	676	9,245
Total liabilities excluding loan capital	727,033	123,576	850,609
Loan capital	1,382	15,883	17,265
Total liabilities	728,415	139,459	867,874
Net assets/(net liabilities)	(442,395)	497,751	55,356

Parent Entity 2017	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	16,405	-	16,405
Receivables due from other financial institutions	6,357	-	6,357
Trading securities and financial assets designated at fair value	9,812	13,134	22,946
Derivative financial instruments	18,340	5,483	23,823
Available-for-sale securities	6,447	49,353	55,800
Loans (net of provisions)	70,868	535,369	606,237
Regulatory deposits with central banks overseas	573	372	945
Due from subsidiaries	142,455	-	142,455
Investments in associates	-	46	46
Investments in subsidiaries	-	3,975	3,975
All other assets	4,649	11,231	15,880
Total assets	275,906	618,963	894,869
Liabilities
Payables due to other financial institutions	21,753	22	21,775
Deposits and other borrowings	458,829	18,864	477,693
Other financial liabilities at fair value through income statement	4,038	-	4,038
Derivative financial instruments	18,321	6,590	24,911
Debt issues	50,415	93,701	144,116
Due to subsidiaries	143,834	-	143,834
All other liabilities	8,060	595	8,655
Total liabilities excluding loan capital	705,250	119,772	825,022
Loan capital	1,641	16,025	17,666
Total liabilities	706,891	135,797	842,688
Net assets/(net liabilities)	(430,985)	483,166	52,181

22.4    Market risk

22.4.1 Value-at-Risk

The Group uses VaR as one of the mechanisms for controlling both traded and non-traded market risk.

VaR is a statistical estimate of the potential loss in earnings over a specified period of time and to a given level of confidence based on historical market movements. The confidence level indicates the probability that the loss will not exceed the VaR estimate on any given day.

VaR seeks to take account of all material market variables that may cause a change in the value of the portfolio, including interest rates, foreign exchange rates, price changes, volatility and the correlations between these variables. Daily monitoring of current exposure and limit utilisation is conducted independently by the Market Risk unit which monitors market risk exposures against VaR and structural concentration limits. These are supplemented by escalation triggers for material profits or losses and stress testing of risks beyond the 99% confidence interval.

The key parameters of VaR are:

Holding period	1 day
Confidence level	99%
Period of historical data used	1 year

22.4.2 Traded market risk

The table below depicts the aggregate VaR, by risk type, for the year ended 30 September:

Consolidated and Parent Entity	2018			2017			2016
$m	High	Low	Average	High	Low	Average	High	Low	Average
Interest rate risk	15.6	5.1	8.6	16.0	4.6	8.5	14.0	4.6	8.8
Foreign exchange risk	6.9	0.7	3.0	9.4	0.6	3.1	12.2	1.4	5.1
Equity risk	1.0	0.0	0.1	0.4	0.0	0.1	2.9	0.1	0.3
Commodity risk1	24.3	1.7	6.5	14.1	3.3	6.6	4.5	1.4	2.7
Other market risks2	5.8	1.4	3.8	5.1	3.5	4.2	6.0	2.6	3.6
Diversification effect	n/a	n/a	(8.6)	n/a	n/a	(8.6)	n/a	n/a	(8.0)
Net market risk	28.1	6.7	13.4	22.9	9.7	13.9	18.7	7.7	12.5

1Includes electricity risk.

2Includes prepayment risk and credit spread risk (exposure to movements in generic credit rating bands).

22.4.3 Non-traded market risk

Non-traded market risk includes interest rate risk in the banking book (IRRBB) – the risk to interest income from a mismatch between the duration of assets and liabilities that arises in the normal course of business activities.

Net interest income (NII) sensitivity is managed in terms of the NaR. A simulation model is used to calculate Westpac’s potential NaR. This combines the underlying balance sheet data with assumptions about run off and new business, expected repricing behaviour and changes in wholesale market interest rates. Simulations using a range of interest rate scenarios are used to provide a series of potential future NII outcomes. The interest rate scenarios modelled, over a three year time horizon using a 99% confidence interval, include those projected using historical market interest rate volatility as well as 100 and 200 basis point shifts up and down from the current market yield curves in Australia and New Zealand. Additional stressed interest rate scenarios are also considered and modelled.

A comparison between the NII outcomes from these modelled scenarios indicates the sensitivity to interest rate changes.

Net interest income-at-risk (NaR)

The table below depicts NaR assuming a 100 basis point shock over the next 12 months as a percentage of reported net interest income:

	2018				2017
		Maximum	Minimum	Average		Maximum	Minimum	Average
% (increase)/decrease in net interest income	As at	Exposure	Exposure	Exposure	As at	Exposure	Exposure	Exposure
Consolidated	0.01	0.78	(0.09)	0.27	0.62	0.62	(0.01)	0.31
Parent Entity	(0.22)	0.51	(0.28)	0.04	0.34	0.34	(0.33)	0.05

Value at Risk - IRRBB

The table below depicts VaR for IRRBB:

	2018				2017
$m	As at	High	Low	Average	As at	High	Low	Average
Consolidated	23.2	57.0	23.2	32.5	57.3	57.3	27.0	40.8

As at 30 September 2018 the Value at Risk – IRRBB for the Parent Entity was $20.8 million (2017: $56.9 million).

Risk mitigation

IRRBB stems from the ordinary course of banking activities, including structural interest rate risk (the mismatch between the duration of assets and liabilities) and capital management.

The Group hedges its exposure to such interest rate risk using derivatives. Further details on the Group’s hedge accounting are discussed in Note 21.

The same controls as used to monitor traded market risk allow management to continuously monitor and manage IRRBB.

Structural foreign exchange risk

Structural foreign exchange risk results from the generation of foreign currency denominated earnings and from Westpac’s capital deployed in offshore branches and subsidiaries, where it is denominated in currencies other than Australian dollars. As exchange rates move, the Australian dollar equivalent of offshore earnings and capital is subject to change that could introduce significant variability to the Bank’s reported financial results and capital ratios. To minimise this impact, Westpac manages offshore earnings and capital on the following basis:

§ New Zealand future earnings are overseen by Group Asset and Liability Committee (ALCO) and may be hedged as per policy approved by Group ALCO;

§ Permanent capital (capital permanently employed in an offshore jurisdiction to meet regulatory, prudential and/or strategic requirements) of subsidiaries and branches is not hedged. However, hedges on permanently deployed capital may still be considered in light of the cyclical nature of currency valuations;

§ Free capital (capital that can be repatriated at Westpac’s discretion), excluding capital denominated in minor currencies, may be fully hedged; and

§ Minor currencies may not be hedged because of liquidity, expensive pricing and materiality.

XML

Fair values of financial assets and financial liabilities

12 Months Ended

Sep. 30, 2018

Fair values of financial assets and financial liabilities

Fair values of financial assets and financial liabilities

Note 23. Fair values of financial assets and financial liabilities

Accounting policy

The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. On initial recognition, the transaction price generally represents the fair value of the financial instrument unless there is observable information from an active market to the contrary. Where unobservable information is used, the difference between the transaction price and the fair value (day one profit or loss) is recognised in the income statement over the life of the instrument when the inputs become observable. Critical accounting assumptions and estimates The majority of valuation models used by the Group employ only observable market data as inputs. However, for certain financial instruments data may be employed which is not readily observable in current markets. The availability of observable inputs is influenced by factors such as:
§	product type;
§	depth of market activity;
§	maturity of market models; and
§	complexity of the transaction.
Where unobservable market data is used, more judgement is required to determine fair value. The significance of these judgements depends on the significance of the unobservable input to the overall valuation. Unobservable inputs are generally derived from other relevant market data and adjusted against:
§	standard industry practice;
§	economic models; and
§	observed transaction prices.
In order to determine a reliable fair value for a financial instrument, management may apply adjustments to the techniques previously described. These adjustments reflect the Group’s assessment of factors that market participants would consider in setting the fair value. These adjustments incorporate bid/offer spreads, credit valuation adjustments and funding valuation adjustments.

Fair Valuation Control Framework

The Group uses a Fair Valuation Control Framework where the fair value is either determined or validated by a function independent of the transaction. This framework formalises the policies and procedures used to achieve compliance with relevant accounting, industry and regulatory standards. The framework includes specific controls relating to:

§ the revaluation of financial instruments;

§ independent price verification;

§ fair value adjustments; and

§ financial reporting.

A key element of the Framework is the Revaluation Committee, comprising senior valuation specialists from within the Group. The Revaluation Committee reviews the application of the agreed policies and procedures to assess that a fair value measurement basis has been applied.

The method of determining fair value differs depending on the information available.

Fair value hierarchy

A financial instrument’s categorisation within the valuation hierarchy is based on the lowest level input that is significant to the fair value measurement.

The Group categorises all fair value instruments according to the hierarchy described below.

Valuation techniques

The Group applies market accepted valuation techniques in determining the fair valuation of over the counter (OTC) derivatives. This includes credit valuation adjustments (CVA) and funding valuation adjustments (FVA), which incorporate credit risk and funding costs and benefits that arise in relation to uncollateralised derivative positions, respectively.

The specific valuation techniques, the observability of the inputs used in valuation models and the subsequent classification for each significant product category are outlined below:

Level 1 instruments

The fair value of financial instruments traded in active markets based on recent unadjusted quoted prices. These prices are based on actual arm’s length basis transactions.

The valuations of Level 1 instruments require little or no management judgement.

Instrument	Balance sheet category	Includes:	Valuation
Exchange traded products	Derivatives	Exchange traded interest rate futures and options and commodity, energy and carbon futures		All these instruments are traded in liquid, active markets where prices are readily observable. No modelling or assumptions are used in the valuation.
Foreign exchange products	Derivatives	FX spot and futures contracts
Equity products	Derivatives Trading securities and financial assets designated at fair value Other financial liabilities at fair value through income statement	Listed equities and equity indices
Non-asset backed debt instruments	Trading securities and financial assets designated at fair value Available-for-sale securities Other financial liabilities at fair value through income statement	Australian and New Zealand Commonwealth government bonds
Life insurance assets and liabilities	Life insurance assets Life insurance liabilities	Listed equities, exchange traded derivatives and short sale of listed equities within controlled managed investment schemes

Level 2 instruments

The fair value for financial instruments that are not actively traded is determined using valuation techniques which maximise the use of observable market prices.  Valuation techniques include:

§ the use of market standard discounting methodologies;

§ option pricing models; and

§ other valuation techniques widely used and accepted by market participants.

Instrument	Balance sheet category	Includes:	Valuation
Interest rate products	Derivatives	Interest rate and inflation swaps, swaptions, caps, floors, collars and other non-vanilla interest rate derivatives	Industry standard valuation models are used to calculate the expected future value of payments by product, which is discounted back to a present value. The model’s interest rate inputs are benchmark interest rates and active broker quoted interest rates in the swap, bond and future markets. Interest rate volatilities are sourced from brokers and consensus data providers. If consensus prices are not available, these are classified as Level 3 instruments.
Foreign exchange products	Derivatives	FX swap, FX forward contracts, FX options and other non-vanilla FX derivatives	Derived from market observable inputs or consensus pricing providers using industry standard models.
Other credit products	Derivatives	Single Name and Index credit default swaps (CDS)	Valued using an industry standard model that incorporates the credit spread as its principal input. Credit spreads are obtained from consensus data providers. If consensus prices are not available, these are classified as Level 3 instruments.
Commodity products	Derivatives	Commodity, energy and carbon derivatives	Valued using industry standard models. The models calculate the expected future value of deliveries and payments and discounts them back to a present value. The model inputs include forward curves, volatilities implied from market observable inputs, discount curves and underlying spot and futures prices. The significant inputs are market observable or available through a consensus data service. If consensus prices are not available, these are classified as Level 3 instruments.
Equity products	Derivatives	Exchange traded equity options, OTC equity options and equity warrants	Due to low liquidity exchange traded options are Level 2. Valued using industry standard models based on observable parameters such as stock prices, dividends, volatilities and interest rates.
Asset backed debt instruments	Trading securities and financial assets designated at fair value Available-for-sale securities	Australian residential mortgage backed securities (RMBS) denominated in Australian dollar and other asset backed securities (ABS)	Valued using an industry approach to value floating rate debt with prepayment features. Australian RMBS are valued using prices sourced from a consensus data provider. If consensus prices are not available these are classified as Level 3 instruments.
Non-asset backed debt instruments	Trading securities and financial assets designated at fair value	State and other government bonds, corporate bonds and commercial paper	Valued using observable market prices which are sourced from consensus pricing services, broker quotes or inter-dealer prices.
	Available-for-sale securities Regulatory deposits with central banks overseas Other financial liabilities at fair value through income statement	Security repurchase agreements and reverse repurchase agreements over non-asset backed debt securities

Instrument	Balance sheet category	Includes:	Valuation
Loans at fair value	Loans	Fixed rate bills	Discounted cash flow approach, using a discount rate which reflects the terms of the instrument and the timing of cash flows, adjusted for creditworthiness based on market observable inputs.
Certificates of deposit	Deposits and other borrowings	Certificates of deposit	Discounted cash flow using market rates offered for deposits of similar remaining maturities.
Debt issues at fair value	Debt issues	Debt issues	Discounted cash flows, using a discount rate which reflects the terms of the instrument and the timing of cash flows adjusted for market observable changes in Westpac’s implied credit worthiness.
Life insurance assets and liabilities	Life insurance assets Life insurance liabilities	Corporate bonds, over the counter derivatives, units in unlisted unit trusts, life insurance contract liabilities, life investment contract liabilities and external liabilities of managed investment schemes controlled by statutory life funds	Valued using observable market prices or other widely used and accepted valuation techniques utilising observable market input.

Level 3 instruments

Financial instruments valued where at least one input that could have a significant effect on the instrument’s valuation is not based on observable market data due to illiquidity or complexity of the product. These inputs are generally derived and extrapolated from other relevant market data and calibrated against current market trends and historical transactions.

These valuations are calculated using a high degree of management judgement.

Instrument	Balance sheet category	Includes:	Valuation
Asset backed debt instruments	Trading securities and financial assets designated at fair value Available-for-sale securities	Collateralised loan obligations and offshore asset-backed debt instruments	As prices for these securities are not available from a consensus provider these are revalued based on third party revaluations (lead manager or inter-dealer). Due to their illiquidity and/or complexity they are classified as Level 3 assets.
Non-asset backed debt instruments	Trading securities and financial assets designated at fair value Available-for-sale securities	Government securities (predominantly PNG government bonds)	Government securities from illiquid markets are classified as Level 3. Fair value is monitored by reference to recent issuances.
Equity investments	Trading securities and financial assets designated at fair value Available-for-sale securities	Investments in unlisted funds, boutique investment management companies and strategic equity investments	Valued using valuation techniques appropriate to the investment, including the use of recent arm’s length transactions where available, discounted cash flow approach, reference to the net assets of the entity or to the most recent fund unit pricing. Due to their illiquidity, complexity and/or use of unobservable inputs into valuation models, they are classified as Level 3 assets.

The tables below summarise the attribution of financial instruments measured at fair value to the fair value hierarchy:

Consolidated	2018				2017
		Valuation	Valuation			Valuation	Valuation
	Quoted	Techniques	Techniques		Quoted	Techniques	Techniques
	Market	(Market	(Non-Market		Market	(Market	(Non-Market
	Prices	Observable)	Observable)		Prices	Observable)	Observable)
$m	(Level 1)	(Level 2)	(Level 3)	Total	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets measured at fair value on a recurring basis
Trading securities and financial assets designated at fair value	8,958	12,846	330	22,134	6,815	17,742	767	25,324
Derivative financial instruments	20	24,066	15	24,101	9	24,009	15	24,033
Available-for-sale securities	11,996	48,504	619	61,119	7,252	52,841	617	60,710
Loans	-	3,250	-	3,250	-	4,587	-	4,587
Life insurance assets	1,345	8,105	-	9,450	2,768	7,875	-	10,643
Regulatory deposits with central banks overseas	-	998	-	998	-	659	-	659
Total financial assets measured at fair value	22,319	97,769	964	121,052	16,844	107,713	1,399	125,956
Financial liabilities measured at
fair value on a recurring basis
Deposits and other borrowings at fair value	-	41,178	-	41,178	-	46,569	-	46,569
Other financial liabilities at fair value through income statement	496	3,801	-	4,297	208	3,848	-	4,056
Derivative financial instruments	76	24,325	6	24,407	8	25,358	9	25,375
Debt issues at fair value	-	3,355	-	3,355	-	4,673	-	4,673
Life insurance liabilities	-	7,597	-	7,597	-	9,019	-	9,019
Total financial liabilities measured at fair value	572	80,256	6	80,834	216	89,467	9	89,692
Parent Entity	2018				2017
		Valuation	Valuation			Valuation	Valuation
	Quoted	Techniques	Techniques		Quoted	Techniques	Techniques
	Market	(Market	(Non-Market		Market	(Market	(Non-Market
	Prices	Observable)	Observable)		Prices	Observable)	Observable)
$m	(Level 1)	(Level 2)	(Level 3)	Total	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets measured at fair value on a recurring basis
Trading securities and financial assets designated at fair value	8,952	11,259	206	20,417	6,797	15,648	501	22,946
Derivative financial instruments	20	23,529	13	23,562	9	23,799	15	23,823
Available-for-sale securities	10,657	45,786	70	56,513	5,480	50,256	64	55,800
Loans	-	3,250	-	3,250	-	4,587	-	4,587
Regulatory deposits with central banks overseas	-	998	-	998	-	659	-	659
Total financial assets measured at fair value	19,629	84,822	289	104,740	12,286	94,949	580	107,815
Financial liabilities measured at fair value on a recurring basis
Deposits and other borrowings at fair value	-	40,062	-	40,062	-	46,023	-	46,023
Other financial liabilities at fair value through income statement	496	3,801	-	4,297	208	3,830	-	4,038
Derivative financial instruments	76	24,147	6	24,229	8	24,894	9	24,911
Debt issues at fair value	-	3,223	-	3,223	-	2,940	-	2,940
Total financial liabilities measured at fair value	572	71,233	6	71,811	216	77,687	9	77,912

Analysis of movements between fair value hierarchy levels

Transfers into and out of Level 3 have occurred due to changes in observability in the significant inputs into the valuation models used to determine the fair value of the related financial instruments. Transfers in and transfers out are reported using the end of year fair values and are disclosed in the following table.

Reconciliation of non-market observables

The tables below summarise the changes in financial instruments measured at fair value derived from non-market observable valuation techniques (Level 3):

Consolidated 2018	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	767	15	617	1,399	9	9
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	2	1	-	3	1	1
Available-for-sale securities reserve	-	-	(7)	(7)	-	-
Acquisition and issues	67	3	1,446	1,516	1	1
Disposal and settlements	(433)	(4)	(1,456)	(1,893)	(5)	(5)
Transfer into or out of non-market observables	(75)	-	-	(75)	-	-
Foreign currency translation impacts	2	-	19	21	-	-
Balance as at end of year	330	15	619	964	6	6
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2018	(7)	4	-	(3)	(2)	(2)
Consolidated 2017	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	840	43	704	1,587	17	17
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	(26)	(8)	-	(34)	(3)	(3)
Available-for-sale securities reserve	-	-	4	4	-	-
Acquisition and issues	122	5	1,572	1,699	6	6
Disposal and settlements	(162)	(13)	(1,645)	(1,820)	(9)	(9)
Transfer into or out of non-market observables	10	(12)	-	(2)	(2)	(2)
Foreign currency translation impacts	(17)	-	(18)	(35)	-	-
Balance as at end of year	767	15	617	1,399	9	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(29)	(2)	-	(31)	(3)	(3)

Parent Entity 2018	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	501	15	64	580	9	9
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	6	1	-	7	1	1
Available-for-sale securities reserve	-	-	2	2	-	-
Acquisition and issues	21	3	18	42	1	1
Disposal and settlements	(268)	(6)	(14)	(288)	(5)	(5)
Transfer into or out of non-market observables	(53)	-	-	(53)	-	-
Foreign currency translation impacts	(1)	-	-	(1)	-	-
Balance as at end of year	206	13	70	289	6	6
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2018	5	4	-	9	(2)	(2)
Parent Entity 2017	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	590	42	50	682	17	17
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	8	(7)	-	1	(3)	(3)
Available-for-sale securities reserve	-	-	-	-	-	-
Acquisition and issues	32	5	14	51	6	6
Disposal and settlements	(122)	(13)	-	(135)	(9)	(9)
Transfer into or out of non-market observables	10	(12)	-	(2)	(2)	(2)
Foreign currency translation impacts	(17)	-	-	(17)	-	-
Balance as at end of year	501	15	64	580	9	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	1	(2)	-	(1)	(3)	(3)

Significant unobservable inputs

Sensitivities to reasonably possible changes in non-market observable valuation assumptions would not have a material impact on the Group’s reported results.

Day one profit or loss

The closing balance of unrecognised day one profit for both the Group and the Parent Entity for the year was $4 million (30 September 2017: $5 million profit).

Financial instruments not measured at fair value

For financial instruments not measured at fair value on a recurring basis, fair value has been derived as follows:

Instrument	Valuation
Loans	Where available, the fair value of loans is based on observable market transactions; otherwise fair value is estimated using discounted cash flow models. For variable rate loans, the discount rate used is the current effective interest rate. The discount rate applied for fixed rate loans reflects the market rate for the maturity of the loan and the credit worthiness of the borrower.
Deposits and other borrowings	Fair values of deposit liabilities payable on demand (interest free, interest bearing and savings deposits) approximate their carrying value. Fair values for term deposits are estimated using discounted cash flows, applying market rates offered for deposits of similar remaining maturities.
Debt issues and loan capital	Fair values are calculated using a discounted cash flow model. The discount rates applied reflect the terms of the instruments, the timing of the estimated cash flows and are adjusted for any changes in Westpac’s credit spreads.
All other financial assets and liabilities	For all other financial assets and liabilities, the carrying value approximates the fair value. These items are either short-term in nature, re-price frequently or are of a high credit rating.

The following tables summarise the estimated fair value and fair value hierarchy of financial instruments not measured at fair value:

Consolidated		2018
		Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	26,431	26,431	-	-	26,431
Receivables due from other financial institutions	5,790	4,332	1,458	-	5,790
Loans	706,440	-	-	706,742	706,742
Regulatory deposits with central banks overseas	357	357	-	-	357
Other financial assets	4,514	-	4,514	-	4,514
Total financial assets not measured at fair value	743,532	31,120	5,972	706,742	743,834
Financial liabilities not measured at fair value
Payables due to other financial institutions	18,137	2,171	15,966	-	18,137
Deposits and other borrowings	518,107	-	515,953	2,838	518,791
Debt issues1	169,241	-	170,060	-	170,060
Loan capital	17,265	-	17,438	-	17,438
Other financial liabilities	7,855	-	7,855	-	7,855
Total financial liabilities not measured at fair value	730,605	2,171	727,272	2,838	732,281
Consolidated		2017
		Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	18,397	18,397	-	-	18,397
Receivables due from other financial institutions	7,128	4,834	1,902	392	7,128
Loans	680,332	-	-	680,568	680,568
Regulatory deposits with central banks overseas	389	389	-	-	389
Other financial assets	4,754	-	4,754	-	4,754
Total financial assets not measured at fair value	711,000	23,620	6,656	680,960	711,236
Financial liabilities not measured at fair value
Payables due to other financial institutions	21,907	2,429	19,478	-	21,907
Deposits and other borrowings	487,022	-	484,929	2,794	487,723
Debt issues1	163,683	-	165,151	-	165,151
Loan capital	17,666	-	18,087	-	18,087
Other financial liabilities	7,490	-	7,490	-	7,490
Total financial liabilities not measured at fair value	697,768	2,429	695,135	2,794	700,358

1The estimated fair value of debt issues includes the impact of changes in Westpac’s credit spreads since origination.

Parent Entity			2018
			Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	24,726	24,726	-	-	24,726
Receivables due from other financial institutions	5,711	4,267	1,444	-	5,711
Loans	626,918	-	-	627,070	627,070
Regulatory deposits with central banks overseas	250	250	-	-	250
Due from subsidiaries	140,597	-	-	140,597	140,597
Other financial assets	3,677	-	3,677	-	3,677
Total financial assets not measured at fair value	801,879	29,243	5,121	767,667	802,031
Financial liabilities not measured at fair value
Payables due to other financial institutions	17,682	1,735	15,947	-	17,682
Deposits and other borrowings	460,406	-	459,841	1,213	461,054
Debt issues1	149,065	-	149,800	-	149,800
Due to subsidiaries	142,400	-	-	142,400	142,400
Loan capital	17,265	-	17,438	-	17,438
Other financial liabilities	7,035	-	7,035	-	7,035
Total financial liabilities not measured at fair value	793,853	1,735	650,061	143,613	795,409

Parent Entity			2017
			Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	16,405	16,405	-	-	16,405
Receivables due from other financial institutions	6,357	4,462	1,895	-	6,357
Loans	601,650	-	-	601,784	601,784
Regulatory deposits with central banks overseas	286	286	-	-	286
Due from subsidiaries	142,455	-	-	142,455	142,455
Other financial assets	4,000	-	4,000	-	4,000
Total financial assets not measured at fair value	771,153	21,153	5,895	744,239	771,287
Financial liabilities not measured at fair value
Payables due to other financial institutions	21,775	2,304	19,471	-	21,775
Deposits and other borrowings	431,670	-	431,113	1,216	432,329
Debt issues1	141,176	-	142,474	-	142,474
Due to subsidiaries	143,834	-	-	143,834	143,834
Loan capital	17,666	-	18,087	-	18,087
Other financial liabilities	6,868	-	6,868	-	6,868
Total financial liabilities not measured at fair value	762,989	2,304	618,013	145,050	765,367

1The estimated fair value of debt issues includes the impact of changes in Westpac’s credit spreads since origination.

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Offsetting financial assets and financial liabilities

12 Months Ended

Sep. 30, 2018

Offsetting financial assets and financial liabilities

Offsetting financial assets and financial liabilities

Note 24. Offsetting financial assets and financial liabilities

Accounting policy

Financial assets and liabilities are presented net in the balance sheet when the Group has a legally enforceable right to offset them in all circumstances and there is an intention to settle the asset and liability on a net basis, or to realise the asset and settle the liability simultaneously. The gross assets and liabilities behind the net amounts reported in the balance sheet are disclosed in the table below.

Some of the Group’s offsetting arrangements are not enforceable in all circumstances. The assets and liabilities under such agreements are also disclosed in the table below, to illustrate the net balance sheet amount if these future events should occur. The amounts in the tables below may not tie back to the balance sheet if there are balances which are not subject to offsetting arrangements. The amounts presented in this note do not represent the credit risk exposure of the Group or Parent Entity. Refer to Note 22.2 for information on credit risk management. The offsetting and collateral arrangements and other credit risk mitigation strategies used by the Group are further explained in the ‘Management of risk mitigation’ section of Note 22.2.2.

Consolidated	Effects of Offsetting			Amounts Subject to Enforceable
	on Balance Sheet			Netting Arrangements But Not Offset
			Net Amounts	Other
			Reported on	Recognised		Financial
	Gross	Amounts	the Balance	Financial	Cash	Instrument	Net
$m	Amounts	Offset	Sheet	Instruments	Collateral	Collateral	Amount
2018
Assets
Receivables due from other
financial institutions1	14	-	14	-	-	(14)	-
Derivative financial instruments	32,828	(8,727)	24,101	(15,962)	(2,184)	(14)	5,941
Securities purchased under
agreement to resell2	1,379	-	1,379	-	(3)	(1,376)	-
Loans3	8,519	(8,420)	99	-	-	-	99
Other assets4	4,243	(4,162)	81	-	-	-	81
Total assets	46,983	(21,309)	25,674	(15,962)	(2,187)	(1,404)	6,121
Liabilities
Derivative financial instruments	37,296	(12,889)	24,407	(15,962)	(4,487)	(1,544)	2,414
Security repurchase agreements5	9,522	-	9,522	-	-	(9,522)	-
Deposits and other borrowings3	20,486	(8,420)	12,066	-	-	-	12,066
Other liabilities4	-	-	-	-	-	-	-
Total liabilities	67,304	(21,309)	45,995	(15,962)	(4,487)	(11,066)	14,480
2017
Assets
Receivables due from other
financial institutions1	15	-	15	-	-	(14)	1
Derivative financial instruments	31,686	(7,653)	24,033	(16,707)	(2,438)	(18)	4,870
Securities purchased under
agreement to resell2	6,887	-	6,887	-	(42)	(6,814)	31
Loans3	15,990	(15,925)	65	-	-	-	65
Other assets4	2,269	(1,615)	654	-	-	-	654
Total assets	56,847	(25,193)	31,654	(16,707)	(2,480)	(6,846)	5,621
Liabilities
Derivative financial instruments	34,642	(9,267)	25,375	(16,707)	(5,552)	(1,421)	1,695
Security repurchase agreements5	12,960	-	12,960	-	(2)	(12,958)	-
Deposits and other borrowings3	21,349	(15,925)	5,424	-	-	-	5,424
Other liabilities4	13	(1)	12	-	-	-	12
Total liabilities	68,964	(25,193)	43,771	(16,707)	(5,554)	(14,379)	7,131

1Consist of stock borrowing arrangements, reported as part of cash collateral in Note 10.

2Securities purchased under agreement to resell form part of Note 11.

3Consist of debt and interest set-off accounts which meet the requirements for offsetting as described above. These accounts form part of business loans in Note 13 and part of Deposits and other borrowings at amortised cost in Note 17.

4Gross amounts consist of initial and variation margin held directly with central clearing counterparties, where variation margin is receivable it is reported as part of Other in Note 27. Where variation margin is payable it is reported as part of Other in Note 29. Amounts offset relate to variation margin.

5Security repurchase agreements form part of Note 16 recognised at amortised cost and part of Note 18 recognised at fair value through income statement.

Parent Entity	Effects of Offsetting			Amounts Subject to Enforceable
	on Balance Sheet			Netting Arrangements But Not Offset
			Net Amounts	Other
			Reported on	Recognised		Financial
	Gross	Amounts	the Balance	Financial	Cash	Instrument	Net
$m	Amounts	Offset	Sheet	Instruments	Collateral	Collateral	Amount
2018
Assets
Receivables due from other
financial institutions1	14	-	14	-	-	(14)	-
Derivative financial instruments	32,289	(8,727)	23,562	(15,862)	(1,748)	(14)	5,938
Securities purchased under
agreement to resell2	1,379	-	1,379	-	(3)	(1,376)	-
Loans3	8,519	(8,420)	99	-	-	-	99
Other assets4	4,243	(4,162)	81	-	-	-	81
Total assets	46,444	(21,309)	25,135	(15,862)	(1,751)	(1,404)	6,118
Liabilities
Derivative financial instruments	37,118	(12,889)	24,229	(15,862)	(4,423)	(1,544)	2,400
Security repurchase agreements5	9,522	-	9,522	-	-	(9,522)	-
Deposits and other borrowings3	20,486	(8,420)	12,066	-	-	-	12,066
Other liabilities4	-	-	-	-	-	-	-
Total liabilities	67,126	(21,309)	45,817	(15,862)	(4,423)	(11,066)	14,466
2017
Assets
Receivables due from other
financial institutions1	15	-	15	-	-	(14)	1
Derivative financial instruments	31,476	(7,653)	23,823	(16,552)	(2,312)	(18)	4,941
Securities purchased under
agreement to resell2	6,887	-	6,887	-	(42)	(6,814)	31
Loans3	15,990	(15,925)	65	-	-	-	65
Other assets4	2,269	(1,615)	654	-	-	-	654
Total assets	56,637	(25,193)	31,444	(16,552)	(2,354)	(6,846)	5,692
Liabilities
Derivative financial instruments	34,178	(9,267)	24,911	(16,522)	(5,179)	(1,421)	1,789
Security repurchase agreements5	12,942	-	12,942	-	(2)	(12,940)	-
Deposits and other borrowings3	21,349	(15,925)	5,424	-	-	-	5,424
Other liabilities4	13	(1)	12	-	-	-	12
Total liabilities	68,482	(25,193)	43,289	(16,522)	(5,181)	(14,361)	7,225

Other recognised financial instruments

These financial assets and liabilities are subject to master netting agreements which are not enforceable in all circumstances, so they are recognised gross in the balance sheet. The offsetting rights of the master netting arrangements can only be enforced if a predetermined event occurs in the future, such as a counterparty defaulting.

Cash collateral and financial instrument collateral

These amounts are received or pledged under master netting arrangements against the gross amounts of assets and liabilities. Financial instrument collateral typically comprises securities which can be readily liquidated in the event of counterparty default. The offsetting rights of the master netting arrangement can only be enforced if a predetermined event occurs in the future, such as a counterparty defaulting.

1Consist of stock borrowing arrangements, reported as part of cash collateral in Note 10.

2Securities purchased under agreement to resell form part of Note 11.

3Consist of debt and interest set-off accounts which meet the requirements for offsetting as described above. These accounts form part of business loans in Note 13 and part of Deposits and other borrowings at amortised cost in Note 17.

4Gross amounts consist of initial and variation margin held directly with central clearing counterparties, where variation margin is receivable it is reported as part of Other in Note 27. Where variation margin is payable it is reported as part of Other in Note 29. Amounts offset relate to variation margin.

5Security repurchase agreements form part of Note 16 recognised at amortised cost and part of Note 18 recognised at fair value through income statement.

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Securitisation, covered bonds and other transferred assets

12 Months Ended

Sep. 30, 2018

Securitisation, covered bonds and other transferred assets

Securitisation, covered bonds and other transferred assets

Note 25. Securitisation, covered bonds and other transferred assets

The Group enters into transactions in the normal course of business by which financial assets are transferred to counterparties or structured entities. Depending on the circumstances, these transfers may result in derecognition of the assets in their entirety, partial derecognition or no derecognition of the assets subject to the transfer. For the Group’s accounting policy on derecognition of financial assets refer to the notes to the financial statements section before Note 10 titled ‘Financial assets and financial liabilities’.

Securitisation

Securitisation is the transferring of assets (or an interest in either the assets or the cash flows arising from the assets) to a structured entity which then issue the majority interest bearing debt securities to third party investors for funding deals and to Westpac for liquidity deals.

Own assets securitised

Securitisation of its own assets is used by Westpac as a funding and liquidity tool.

For securitisation structured entities which Westpac controls, as defined in Note 35, the structured entities are classified as subsidiaries and consolidated. When assessing whether Westpac controls a structured entity, it considers its exposure to and ability to affect variable returns. Westpac may have variable returns from a structured entity through ongoing exposures to the risks and rewards associated with the assets, the provision of derivatives, liquidity facilities, trust management and operational services.

Undrawn funding and liquidity facilities of $517 million were provided by Westpac (2017: $511 million) for the securitisation of its own assets.

Customer conduits

Westpac also facilitates securitisation structures to arrange funding on behalf of customers in customer conduits through a subsidiary (Waratah Receivables Corporation Limited and its subsidiaries). The assets securitised are not assets of Westpac.  The lending provided to the customer conduits is disclosed in Note 10 and the funding liability is disclosed in Note 19.

Westpac provided undrawn liquidity facilities to the customer conduits of nil at 30 September 2018 (2017: $392 million).

Covered bonds

The Group has two covered bond programs relating to Australian residential mortgages (Australian Program) and New Zealand residential mortgages (New Zealand Program). Under these programs, selected pools of residential mortgages are assigned to bankruptcy remote structured entities which provide guarantees on the payments to bondholders. Through the guarantees and derivatives with the structured entities, Westpac has variable returns from these structured entities and consolidated them.

Security repurchase agreements

Where securities are sold subject to an agreement to repurchase at a predetermined price, they remain recognised on the balance sheet in their original category (i.e. Trading securities or Available-for-sale securities).

The cash consideration received is recognised as a liability (Security repurchase agreements). Refer to Notes 16 and 18 for further details.

The following table presents Westpac’s assets transferred and their associated liabilities:

Consolidated			For those liabilities that only have recourse to
			the transferred assets:
	Carrying	Carrying
	amount of	amount of	Fair value of	Fair value of
	transferred	associated	transferred	associated	Net fair value
$m	assets	liabilities	assets	liabilities	position
2018
Securitisation - own assets1	7,631	7,588	7,662	7,565	97
Covered bonds2	43,088	35,434	n/a	n/a	n/a
Repurchase agreements	12,492	9,522	n/a	n/a	n/a
Total3	63,211	52,544	7,662	7,565	97
2017
Securitisation - own assets1	8,249	8,209	8,282	8,223	59
Covered bonds2	42,122	34,516	n/a	n/a	n/a
Repurchase agreements	18,746	12,960	n/a	n/a	n/a
Total3	69,117	55,685	8,282	8,223	59
Parent Entity			For those liabilities that only have recourse to
			the transferred assets:
	Carrying	Carrying
	amount of	amount of	Fair value of	Fair value of
	transferred	associated	transferred	associated	Net fair value
$m	assets	liabilities	assets	liabilities	position
2018
Securitisation - own assets1	97,259	96,728	97,291	96,473	818
Covered bonds2	36,190	30,268	n/a	n/a	n/a
Repurchase agreements	12,492	9,522	n/a	n/a	n/a
Total	145,941	136,518	97,291	96,473	818
2017
Securitisation - own assets1,4	98,368	97,872	98,434	96,478	1,956
Covered bonds2	35,202	29,698	n/a	n/a	n/a
Repurchase agreements	18,728	12,942	n/a	n/a	n/a
Total	152,298	140,512	98,434	96,478	1,956

1The carrying amount of assets securitised exceeds the amount of notes issued primarily because the carrying amount includes both principal and income received from the transferred assets.

2The difference between the carrying values of covered bonds and the assets pledged reflects the over-collateralisation required to maintain the ratings of the covered bonds and also additional assets to allow immediate issuance of additional covered bonds if required. These additional assets can be repurchased by Westpac at its discretion, subject to the conditions set out in the transaction documents.

3This table excludes securitisation – customer conduits as the assets securitised are not assets of Westpac.

4Comparatives have been revised for consistency.

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Intangible assets

12 Months Ended

Sep. 30, 2018

Intangible assets

Intangible assets

Note 26. Intangible assets

Accounting policy

Indefinite life intangible assets Goodwill Goodwill acquired in a business combination is initially measured at cost, generally being the excess of: i)the consideration paid; over ii)the net fair value of the identifiable assets, liabilities and contingent liabilities acquired. Subsequently, goodwill is not amortised but rather tested for impairment. Impairment is tested at least annually or whenever there is an indication of impairment.  An impairment charge is recognised when a cash generating unit’s (CGU) carrying value exceeds its recoverable amount. Recoverable amount means the higher of the CGU’s fair value less costs to sell and its value-in-use. Brand names Brand names acquired in a business combination including St.George, BT, BankSA and RAMS, are recognised at cost. Subsequently brand names are not amortised but tested for impairment at least annually or whenever there is an indication of impairment. Finite life intangible assets Finite life intangibles including computer software and core deposits, are recognised initially at cost and subsequently at amortised cost less any impairment.
Intangible	Useful life	Depreciation method
Goodwill	Indefinite	Not applicable
Brand names	Indefinite	Not applicable
Computer software	3 to 10 years	Straight-line or the diminishing balance method (using the Sum of the Years Digits)
Core deposit intangibles	9 years	Straight-line
Critical accounting assumptions and estimates Judgement is required in determining the fair value of assets and liabilities acquired in a business combination. A different assessment of fair values would have resulted in a different goodwill balance and different post-acquisition performance of the acquired entity. When assessing impairment of intangible assets, significant judgement is needed to determine the appropriate cash flows and discount rates to be applied to the calculations. The significant assumptions applied to the value-in-use calculations are outlined below.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Goodwill
Opening balance	9,012	9,030	6,844	6,844
Disposals1	(15)	-	-	-
Impairment1	(105)	-	-	-
Other adjustments	(2)	(18)	-	-
Closing balance	8,890	9,012	6,844	6,844
Computer software
Opening balance	1,916	1,781	1,758	1,635
Additions	882	766	823	692
Impairment	(2)	(14)	(2)	(14)
Amortisation	(618)	(614)	(565)	(558)
Other adjustments	(1)	(3)	-	3
Closing balance	2,177	1,916	2,014	1,758
Cost	5,727	5,059	4,861	4,249
Accumulated amortisation and impairment	(3,550)	(3,143)	(2,847)	(2,491)
Carrying amount	2,177	1,916	2,014	1,758
Brand Names
Opening balance	670	670	636	636
Closing balance	670	670	636	636
Carrying amount	670	670	636	636
Core deposit intangibles
Opening balance	21	187	21	187
Amortisation	(21)	(166)	(21)	(166)
Closing balance	-	21	-	21
Cost	1,494	1,494	1,279	1,279
Accumulated amortisation	(1,494)	(1,473)	(1,279)	(1,258)
Carrying amount	-	21	-	21
Other intangible assets
Opening balance	33	53	-	3
Additions through business combination	-	-	-	-
Amortisation	(7)	(20)	-	(3)
Closing balance	26	33	-	-
Cost	391	398	160	160
Accumulated amortisation and impairment	(365)	(365)	(160)	(160)
Carrying amount	26	33	-	-
Total intangible assets	11,763	11,652	9,494	9,259

1    The sale of Hastings’ overseas operations and subsequent exit of Hastings’ Australian operations resulted in the entire balance of goodwill previously allocated to Hastings being derecognised ($15m) or impaired ($105m) in 2018.

Goodwill has been allocated to the following CGUs:

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Consumer Bank	3,359	3,359	3,144	3,144
Business Bank	2,513	2,513	2,378	2,378
Westpac Institutional Bank	487	487	487	487
BT Financial Group (Australia)	2,048	2,048	835	835
New Zealand Consumer Banking and Wealth	470	472	-	-
BT New Zealand	13	13	-	-
Hastings	-	120	-	-
Total goodwill	8,890	9,012	6,844	6,844

Significant assumptions used in recoverable amount calculations

Assumptions are used to determine the CGUs’ recoverable amount for goodwill, which is based on value-in-use calculations. Value-in-use refers to the present value of expected cash flows under its current use. The Group discounts the projected cash flows by its adjusted pre-tax equity rate.

§ Group’s equity rate was 11.0% (2017: 11.0%).

§ Group’s adjusted pre-tax equity rate for:

- Australia was 15.7% (2017: 15.7%); and

- New Zealand was 15.3% (2017: 15.3%).

For the purpose of goodwill impairment testing, the assumptions in the following table are made for each significant CGU. The forecasts applied by management are not reliant on any one particular assumption.

Assumption	Based on:
Cash flows	Zero growth rate beyond 2 year forecast
Economic market conditions	Current market expectations
Business performance	Observable historical information and current market expectations of the future

There are no reasonably possible changes in assumptions for any significant CGU that would result in an indication of impairment or have a material impact on the Group’s reported results.

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Other assets

12 Months Ended

Sep. 30, 2018

Other assets

Other assets

Note 27. Other assets

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Accrued interest receivable	1,276	1,193	1,103	1,029
Securities sold not delivered	1,264	1,408	1,264	1,388
Deferred acquisition costs	71	86	-	1
Trade debtors	1,056	810	514	358
Prepayments	208	220	165	182
Accrued fees and commissions	129	149	60	64
Other	1,131	1,496	882	1,296
Total other assets	5,135	5,362	3,988	4,318

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Provisions

12 Months Ended

Sep. 30, 2018

Provisions

Provisions

Note 28. Provisions

Accounting policy

Provisions are recognised for present obligations arising from past events where a payment (or other economic transfer) is likely to be necessary to settle the obligation and can be reliably estimated.

Employee benefits – long service leave

Long service leave must be granted to employees in Australia and New Zealand. The provision is calculated based on the expected payments. When payments are expected to be more than one year in the future, the payments factor in expected employee service periods and average salary increases which are then discounted.

Employee benefits – annual leave and other employee benefits

The provision for annual leave and other employee benefits (including wages and salaries, inclusive of non-monetary benefits, and any associated on-costs (e.g. payroll tax)) is calculated based on expected payments.

Provision for impairment on credit commitments

The Group is committed to provide facilities and guarantees as explained in Note 31. If it is probable that a facility will be drawn and the resulting asset will be less than the drawn amount then a provision for impairment is recognised. The provision for impairment is calculated using the same methodology as the provision for impairment charges on loans (refer to Note 14).

Compliance, Regulation and Remediation provisions

The compliance, regulation and remediation provisions relate to matters of potential misconduct in providing services to our customers identified both as a result of regulatory action and internal reviews. An assessment of the likely cost to the Group of these matters (including applicable customer refunds) is made on a case-by-case basis and specific provisions are made where appropriate.

Further information on regulatory action and internal reviews is included in the contingent liabilities section of Note 31.

Critical accounting assumptions and estimates

The financial reporting of provisions for litigation and non-lending losses and for compliance, regulation and remediation matters involves a significant degree of judgement in relation to identifying whether a present obligation exists and also in estimating the probability, timing, nature and quantum of the outflows that may arise from past events. These judgments are made based on the specific facts and circumstances relating to individual events.

Payments that are expected to be incurred after more than one year are discounted at a rate which reflects both current interest rates and the risks specific to that provision.

Provisions carried for long service leave are supported by an independent actuarial report.

		Annual					Compliance,
		Leave	Litigation	Provision for			Regulation
	Long	and Other	and Non-	Impairment			and
	Service	Employee	Lending	on Credit	Leasehold	Restructuring	Remediation
$m	Leave	Benefits	Losses1	Commitments	Premises	Provisions	Provisions1	Total
Consolidated
Balance at 1 October 2017	399	737	38	253	26	5	181	1,639
Additions	77	960	97	-	4	29	414	1,581
Utilisation	(43)	(977)	(79)	-	(6)	(5)	(121)	(1,231)
Reversal of unutilised provisions	(16)	(25)	(3)	-	-	(2)	(5)	(51)
Unwinding of discount	-	-	-	4	-	-	-	4
Other	-	4	-	(18)	-	-	-	(14)
Balance at 30 September 2018	417	699	53	239	24	27	469	1,928
Parent Entity
Balance at 1 October 2017	367	644	25	224	26	5	181	1,472
Additions	72	888	71	-	4	29	392	1,456
Utilisation	(39)	(890)	(56)	-	(6)	(5)	(121)	(1,117)
Reversal of unutilised provisions	(16)	(10)	(3)	-	-	(2)	(5)	(36)
Unwinding of discount	-	-	-	3	-	-	-	3
Other	2	7	-	(21)	-	-	-	(12)
Balance at 30 September 2018	386	639	37	206	24	27	447	1,766

1Balance at 1 October 2017 has been revised for consistency.

Legislative liabilities

The Group had the following assessed liabilities as at 30 September 2018:

§ $20 million (2017: $23 million) based on an actuarial assessment as a self-insurer under the Workers’ Compensation Act 1987 and the Workplace Injury Management and Workers’ Compensation Act 1998 (New South Wales);

§ $9 million (2017: $9 million) based on actuarial assessment as a self-insurer under the Accident Compensation Act 1985 (Victoria);

§ $5 million (2017: $6 million) based on actuarial assessment as a self-insurer under the Workers’ Rehabilitation and Compensation Act 1986 (South Australia);

§ $2 million (2017: $2 million) based on an actuarial assessment as a self-insurer under the Workers’ Compensation and Rehabilitation Act 2003 (Queensland);

§ $1 million (2017: $1 million) based on an actuarial assessment as a self-insurer under the Workers’ Compensation Act 1951 (Australian Capital Territory);

§ $2 million (2017: $2 million) based on an actuarial assessment as a self-insurer under the Workers’ Compensation and Injury Management Act 1981 (Western Australia); and

§ $1 million (2017: $1 million) based on an actuarial assessment as a self-insurer under the Workers’ Rehabilitation and Compensation Act 1988 (Tasmania).

Adequate provision has been made for these liabilities in the provision for annual leave and other employee benefits above.

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Other liabilities

12 Months Ended

Sep. 30, 2018

Other liabilities

Other liabilities

Note 29. Other liabilities

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Unearned insurance premiums	398	396	-	-
Outstanding insurance claims	367	339	-	-
Defined benefit deficit1	25	43	9	30
Accrued interest payable	2,968	2,727	2,633	2,416
Credit card loyalty program	308	284	23	16
Securities purchased not delivered	1,343	1,315	1,343	1,315
Trade creditors and other accrued expenses2	1,410	1,109	1,125	890
Other2	2,374	2,393	2,159	2,282
Total other liabilities	9,193	8,606	7,292	6,949

1    Refer to Note 38 for more details.

2    Comparatives have been revised for consistency. Liabilities of $177 million relating to compliance, regulation and remediation were reclassified to compliance, regulation and remediation provisions included in Note 28.

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Operating lease commitments

12 Months Ended

Sep. 30, 2018

Operating lease commitments

Operating lease commitments

Note 30. Operating lease commitments

Westpac leases various commercial and retail premises and related plant and equipment. The lease commitments at30 September are as follows:

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Due within one year	570	548	498	480
Due after one year but not later than five years	1,564	1,591	1,356	1,395
Due after 5 years	1,819	1,994	1,460	1,652
Total lease commitments	3,953	4,133	3,314	3,527

Operating leases are entered into to meet the business needs of entities in the Group. Lease rentals are determined in accordance with market conditions when leases are entered into or on rental review dates.

Leased premises that have become excess to the Group’s business needs have been sublet where possible.

The future minimum lease payments receivable from non-cancellable sub-leases were $7 million (2017: $9 million) for the Group and $6 million (2017: $9 million) for Parent Entity.

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Contingent liabilities, contingent assets and credit commitments

12 Months Ended

Sep. 30, 2018

Contingent liabilities, contingent assets and credit commitments

Contingent liabilities, contingent assets and credit commitments

Note 31. Contingent liabilities, contingent assets and credit commitments

Accounting Policy

Undrawn credit commitments

The Group enters into various arrangements with customers which are only recognised in the balance sheet when called upon.  These arrangements include commitments to extend credit, bill endorsements, financial guarantees, standby letters of credit and underwriting facilities.

Contingent assets

Contingent assets are possible assets whose existence will be confirmed only by uncertain future events. Contingent assets are not recognised on the balance sheet but are disclosed if an inflow of economic benefits is probable.

Contingent liabilities

Contingent liabilities are possible obligations whose existence will be confirmed only by uncertain future events, and present obligations where the transfer of economic resources is not probable or cannot be reliably measured. Contingent liabilities are not recognised on the balance sheet but are disclosed unless the outflow of economic resources is remote.

Undrawn credit commitments

Undrawn credit commitments expose the Group to liquidity risk when called upon and also to credit risk if the customer fails to repay the amounts owed at the due date. The maximum exposure to credit loss is the contractual or notional amount of the instruments disclosed below. Some of the arrangements can be cancelled by the Group at any time and a significant portion is expected to expire without being drawn. The actual required liquidity and credit risk exposure is therefore less than the amounts disclosed.

The Group uses the same credit policies when entering into these arrangements as it does for on-balance sheet instruments. Refer to Note 22 for further details of liquidity risk and credit risk management.

Undrawn credit commitments excluding derivatives at 30 September are as follows:

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Undrawn credit commitments
Letters of credit and guarantees1	15,585	15,460	14,957	14,908
Commitments to extend credit2	174,658	178,443	152,943	156,423
Other	154	648	99	648
Total undrawn credit commitments	190,397	194,551	167,999	171,979

Consolidated 2018	Up to	Over 1	Over 3	Over
$m	1 Year	to 3 Years	to 5 Years	5 Years	Total
Letters of credit and guarantees	8,983	2,717	890	2,995	15,585
Commitments to extend credit	50,292	49,320	14,637	60,409	174,658
Other	-	74	25	55	154
Total undrawn credit commitments	59,275	52,111	15,552	63,459	190,397

1Letters of credit are undertakings to pay, against presentation documents, an obligation in the event of a default by a customer. Guarantees are unconditional undertakings given to support the obligations of a customer to third parties. The Group may hold cash as collateral for certain guarantees issued.

2Commitments to extend credit include all obligations on the part of the Group to provide credit facilities. As facilities may expire without being drawn upon, the notional amounts do not necessarily reflect future cash requirements. In addition to the commitments disclosed above, at 30 September 2018 the Group had offered $5.7 billion (2017: $5.5 billion) of facilities to customers, which had not yet been accepted.

Contingent assets

The credit commitments shown in the table above also constitute contingent assets. These commitments would be classified as loans in the balance sheet on the contingent event occurring.

Contingent liabilities

The Royal Commission and regulatory action

Globally, regulators and other bodies continue to progress various reviews involving the financial services sector. The nature of these reviews can be wide ranging and, in Australia, currently include investigations into potential misconduct in credit and financial services. For example, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Royal Commission) is currently investigating conduct, practices, behaviour or business activities by financial services entities including the Group that may amount to potential misconduct or that may fall below community standards and expectations. The Royal Commission may make findings that the Group (including persons or entities acting on its behalf) has engaged in misconduct including breaches of law or conduct that falls below community standards and expectations.

Any findings made by the Royal Commission as it progresses, may result in litigation (including class action proceedings against the Group), fines, penalties, revocation, suspension or variation of conditions of relevant regulatory licences or other enforcement or administrative action being taken by regulators or other parties.

Regulators such as ASIC, APRA, ACCC, AUSTRAC and the ATO are also currently conducting reviews and inquiries (some of which are industry-wide) that currently involve or may involve the Group in the future. These reviews are separately considering a range of matters, including matters such as consumer credit insurance, responsible lending (including in the context of reverse mortgages and interest only lending), anti-money laundering and counter-terrorism financing processes and procedures (including in relation to customer on-boarding and ongoing customer due diligence), financial adviser conduct (including compliance with the obligation to act in the client’s best interests), life insurance claims handling, and the pricing of residential mortgages.

The Group has recently self-reported to AUSTRAC a failure to report a large number of International Funds Transfer Instructions (IFTIs) (as required under Australia’s AML/CTF Act) in relation to one WIB product. These IFTIs relate to batch instructions received from 2009 until recently from a small number of correspondent banks for payments made predominantly to beneficiaries in Australia in Australian dollars. Through the product, Westpac facilitates payments on behalf of clients of certain of its correspondent banks. The majority of the payments are low value and made by Government pension funds and corporates. The Group is investigating and working with AUSTRAC to remediate the failure to report IFTIs. No provision has been raised for this matter including in relation to any potential regulatory action.

Westpac has received various notices and requests for information from the Royal Commission, as well as from regulators as part of both industry-wide and Westpac-specific reviews and inquiries.

These reviews and inquiries, which may be conducted by a regulator, and in some cases also an external third party assurance provider retained either by the regulator or by the Group (including where a matter has been self-identified by the Group), may result in litigation (including class action proceedings against the Group), fines, penalties, revocation, suspension or variation of conditions of relevant regulatory licences or other enforcement or administrative action being taken by regulators or other parties.

An assessment of the likely cost to the Group of these reviews and actions has been made on a case-by-case basis for the purpose of the financial statements but cannot always be reliably estimated. Where appropriate, specific provisions have been made. (refer to Note 28).

Litigation

There are ongoing court proceedings, claims and possible claims for and against the Group. Contingent liabilities exist in respect of actual and potential claims and proceedings, including those listed below. An assessment of the Group’s likely loss has been made on a case-by-case basis for the purpose of the financial statements but cannot always be reliably estimated. Where appropriate, specific provisions have been made (refer to Note 28).

§ Following ASIC’s investigations into the interbank short-term money market and its impact on the setting of the bank bill swap reference rate (BBSW), on 5 April 2016, ASIC commenced civil proceedings against Westpac in the Federal Court of Australia, alleging certain misconduct, including market manipulation and unconscionable conduct. The conduct that was the subject of the proceedings was alleged to have occurred between 6 April 2010 and 6 June 2012. ASIC sought declarations from the court that Westpac breached various provisions of the Corporations Act 2001 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth), pecuniary penalties of unspecified amounts and orders requiring Westpac to implement a comprehensive compliance program for persons involved in Westpac’s trading in the relevant market. The proceedings were heard in late 2017. On 24 May 2018, Justice Beach found that Westpac had not engaged in market manipulation or misleading or deceptive conduct under the Corporations Act 2001 (Cth). His Honour also found that there was no ‘trading practice’ of manipulating the BBSW rate. However, the Court found that Westpac engaged in unconscionable conduct on 4 occasions and that Westpac breached its supervisory duty. Costs and penalties will be determined in the coming months. While we have provided for our best estimate of these amounts, there remains a risk that the final outcome may differ from this estimate.

§ In August 2016, a class action was filed in the United States District Court for the Southern District of New York against Westpac and a large number of Australian and international banks alleging misconduct in relation to BBSW. Those proceedings are at a very early stage and the level of damages sought has not been specified. Westpac is defending these proceedings. No provision has been recognised in relation to this matter.

§ On 1 March 2017, ASIC commenced litigation in relation to certain Westpac home loans (including certain interest only loans) alleging contraventions of the National Consumer Credit Protection Act 2009 (Cth). On 4 September 2018, Westpac and ASIC agreed to settle the proceedings on the basis of a proposed $35 million penalty and declarations that Westpac contravened the National Consumer Credit Protection Act 2009 (Cth). The proposed settlement is subject to Court approval. A hearing on the proposed settlement was held on 24 October 2018 and judgement is reserved.  While we have provided for our best estimate of these amounts, there remains a risk that the final outcome may differ from this estimate.

§ On 22 December 2016, ASIC commenced Federal Court proceedings against BT Funds Management Limited and Westpac Securities Administration Limited in relation to a number of superannuation account consolidation campaigns conducted between 2013 and 2016. ASIC has alleged that in the course of some of these campaigns, customers were provided with personal advice in contravention of a number of Corporations Act 2001 (Cth) provisions. ASIC has selected 15 specific customers as the focus of their claim. The proceedings were heard in February 2018. Judgment is pending. No provision has been recognised in relation to this matter.

§ On 12 October 2017, a class action against Westpac and Westpac Life Insurance Services Limited (WLIS) was filed in the Federal Court of Australia. The class action was filed on behalf of customers who, since October 2011, obtained insurance issued by WLIS on the recommendation of certain financial advisers employed within the Westpac Group. The plaintiffs have alleged that aspects of the financial advice provided by those advisers breached fiduciary and statutory duties owed to the advisers’ clients, including the duty to act in the best interests of the client and that WLIS was knowingly involved in those alleged breaches. Westpac and WLIS are defending the proceedings. These proceedings are currently stayed by order of the Court, pending the outcome of an appeal concerning a procedural issue unrelated to the substantive claims made in the class action. No provision has been recognised in relation to this matter.

Internal reviews and remediation

Westpac is currently undertaking a number of reviews to identify and resolve prior issues that have the potential to impact our customers and reputation. These reviews have identified, and may continue to identify, issues in respect of which we are, or will be, taking steps to put things right (including in relation to areas of industry focus such as compliance with responsible lending obligations and the way some product terms and conditions are operationalised) so that our customers are not at a disadvantage from certain past practices. By undertaking these reviews we can also improve our processes (including in relation to responsible lending controls and financial planning controls). An assessment of the Group’s likely loss has been made on a case-by-case basis for the purpose of the financial statements but cannot always be reliably estimated. Where appropriate, specific provisions have been made (refer to Note 28). Contingent liabilities may exist in respect of actual or potential claims, compensation payments and/or refunds identified as part of these reviews (including in relation to the reviews described below).

One of the reviews relates to ongoing advice services provided from 2008 by approximately 1,660 planners operating in aligned dealer groups who were at the time authorised representatives of the Group’s wholly owned subsidiaries Securitor Financial Group (Securitor) and Magnitude Group Pty Ltd (Magnitude). Securitor and Magnitude, as the AFSL licensees, retained a portion of the ongoing advice fees paid to those dealer groups by clients since 2008. Westpac is in the early stages of engaging each authorised representative to determine the agreements in place between those representatives and their clients, and the services provided. Given the early stage of the review, the time period under consideration and availability of records in relation to the relevant period, it is not practicable to provide an estimate of any potential remediation costs for circumstances where a client has paid ongoing service fees but those services have not been provided. No provision has been recognised in relation to this matter.

Following an error in the Group’s systems, certain customers with an interest only home loan did not have their loans automatically switched to principal and interest repayments at the end of the contracted interest only period. The Group is undertaking a program of work to remediate this issue for affected customers and is engaging with ASIC on potential remediation options. While we have provided for our best estimate of these amounts, there remains a risk that the final outcome may exceed this estimate.

Financial Claims Scheme

Under the Financial Claims Scheme (FCS) the Australian Government provides depositors a free guarantee of deposits in eligible ADIs up to and including $250,000. The FCS applies to an eligible ADI if APRA has applied for the winding up of the ADI and the responsible Australian Government minister has declared that the FCS applies to the ADI.

The Financial Claims Scheme (ADIs) Levy Act 2008 provides for the imposition of a levy to fund the excess of certain APRA FCS costs connected to an ADI. The levy would be imposed on liabilities of eligible ADIs to their depositors and cannot be more than 0.5% of the amount of those liabilities.

Contingent tax risk

Tax and regulatory authorities are reviewing the taxation treatment of certain transactions (including both historical and present-day transactions) undertaken by the Group in the course of normal business activities and the claiming of tax incentives (including research and development tax incentives) and GST. The Group also responds to various notices and requests for information it receives from tax and regulatory authorities.

Risk reviews and audits are also being undertaken by revenue authorities in other jurisdictions, as part of normal revenue authority activity in those countries. These reviews, notices and requests may result in additional tax liabilities (including interest and penalties).

The Group has assessed these and other taxation claims arising in Australia and elsewhere, including seeking independent advice and holds provisions.

Settlement risk

The Group is subject to a credit risk exposure in the event that another counterparty fails to settle for its payments clearing activities (including foreign exchange). The Group seeks to minimise credit risk arising from settlement risk in the payments system by aligning our processing method with the legal certainty of settlement in the relevant clearing mechanism.

Parent Entity guarantees and undertakings

The Parent Entity makes the following guarantees and undertakings to subsidiaries:

§ letters of comfort for certain subsidiaries which recognise that Westpac has a responsibility that those subsidiaries continue to meet their obligations; and

§ guarantees to certain wholly owned subsidiaries which are Australian financial services or credit licensees to comply with legislative requirements. Each guarantee is capped at $40 million per year and can only be utilised if the entity concerned becomes legally obliged to pay for a claim under the relevant licence. The Parent Entity has a right to recover any funds payable under the guarantees from the relevant subsidiary.

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Shareholders' equity

12 Months Ended

Sep. 30, 2018

Shareholders' equity

Shareholders' equity

Note 32. Shareholders’ equity

Accounting policy

Share capital

Ordinary shares are recognised at the amount paid up per ordinary share net of directly attributable issue costs. Treasury shares are shares in the Parent Entity, purchased by the Parent Entity or other entities within the Group. These shares are adjusted against share capital as the net of the consideration paid to purchase the shares and, where applicable, any consideration received from the subsequent sale or reissue of these shares.

Non-controlling interests

Non-controlling interests represent the share in the net assets of subsidiaries attributable to equity interests that are not owned directly or indirectly by the Parent Entity.

Reserves

Foreign currency translation reserve

Exchange differences arising on translation of the Group’s foreign operations, any offsetting gains or losses on hedging the net investment and any associated tax effect are reflected in the foreign currency translation reserve. A cumulative credit balance in this reserve would not normally be regarded as being available for payment of dividends until such gains are realised and recognised in the income statement on sale or disposal of the foreign operation.

Available-for-sale securities reserve

This comprises the changes in the fair value of available-for-sale financial securities, net of any related hedge accounting adjustments and tax. These changes are transferred to non-interest income in the income statement when the asset is either disposed of or impaired.

Cash flow hedging reserve

This comprises the fair value gains and losses associated with the effective portion of designated cash flow hedging instruments, net of tax.

Share-based payment reserve

This comprises the fair value of equity-settled share-based payments recognised as an expense.

Other reserves

Other reserves for the Parent Entity relates to certain historic internal group restructurings performed at fair value. The reserve is eliminated on consolidation.

Other reserves for the Group consist of transactions relating to changes in the Parent Entity’s ownership of a subsidiary that do not result in a loss of control.

The amount recorded in other reserves reflects the difference between the amount by which non-controlling interests are adjusted and the fair value of any consideration paid or received.

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Share capital
Ordinary share capital, fully paid	36,054	34,889	36,054	34,889
Treasury shares held for RSP1	(505)	(434)	(505)	(434)
Other treasury shares held2	12	(61)	(3)	(3)
Total treasury shares held	(493)	(495)	(508)	(437)
Total share capital	35,561	34,394	35,546	34,452
Non-controlling interests	52	54	-	-

12018: 3,943,660, unvested shares held (2017: 3,549,035).

22018: 2,029,795 shares held (2017: 4,652,579).

Ordinary shares

Westpac does not have authorised capital and the ordinary shares have no par value. Ordinary shares entitle the holder to participate in dividends and, in the event of Westpac winding up, to a share of the proceeds in proportion to the number of and amounts paid on the shares held.

Each ordinary share entitles the holder to one vote, either in person or by proxy, at a shareholder meeting.

Reconciliation of movement in number of ordinary shares.

Consolidated and Parent Entity
(number)	2018	2017
Opening balance	3,394,364,279	3,346,166,853
Dividend reinvestment plan1	21,242,667	48,197,426
Conversion of Westpac Convertible Preference Shares2	19,189,765	-
Closing balance	3,434,796,711	3,394,364,279

Ordinary shares purchased and sold on market

	2018	2018
Consolidated and Parent Entity	Number	Average Price ($)
For share-based payment arrangements:
Employee share plan (ESP)	854,267	31.86
RSP3	2,291,897	31.32
Westpac Performance Plan (WPP) - share rights exercised	156,691	31.49
Westpac Long Term Incentive Plan (LTIP) - options exercised4	103,686	28.80
LTIP - share rights exercised	2,929	28.42
As treasury shares:
Treasury shares purchased (excluding RSP)5	93,052	28.97
Treasury shares sold	(2,715,836)	28.10
Net number of ordinary shares purchased/(sold) on market6	786,686

For details of the share-based payment arrangements refer to Note 37.

1The price per share for the issuance of shares in relation to the dividend reinvestment plan for the 2018 interim dividend was $28.11 and 2017 final dividend was $31.62 (2017: 2017 interim dividend was $29.79 and 2016 final dividend was $31.32).

2The conversion price per share for the issuance of shares in relation to the conversion of Westpac Convertible Preference Shares was $29.49.

3Ordinary shares allocated to employees under the RSP are classified as treasury shares until the shares vest.

4No WPP options were exercised during the period. The average exercise price per share received was $24.23 on the exercise of the LTI options.

5Treasury shares include ordinary shares held by statutory life funds and managed investment schemes and ordinary shares held by Westpac for equity derivatives sold to customers.

6The purchase of ordinary shares on market resulted in a tax benefit of $0.22 million being recognised as contributed equity.

Reconciliation of movement in reserves

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Available-for-sale securities reserve
Opening balance	64	10	70	10
Net gains/(losses) from changes in fair value	(104)	75	(34)	88
Income tax effect	34	(19)	13	(26)
Transferred to income statements	66	(3)	(33)	(3)
Income tax effect	(25)	1	6	1
Exchange differences	2	-	2	-
Closing balance	37	64	24	70
Share-based payment reserve
Opening balance	1,431	1,333	1,322	1,221
Share-based payment expense	103	98	103	101
Closing balance	1,534	1,431	1,425	1,322
Cash flow hedge reserve
Opening balance	(154)	(172)	(94)	(78)
Net gains/(losses) from changes in fair value	(161)	(91)	(125)	(42)
Income tax effect	47	27	38	13
Transferred to income statements	203	115	160	19
Income tax effect	(60)	(33)	(48)	(6)
Closing balance	(125)	(154)	(69)	(94)
Foreign currency translation reserve
Opening balance	(529)	(413)	(481)	(404)
Exchange differences on translation of foreign operations (net of associated hedges)	181	(116)	174	(77)
Transferred to income statements	(3)	-	-	-
Closing balance	(351)	(529)	(307)	(481)
Other reserves
Opening balance	(18)	(19)	41	41
Transactions with owners	-	1	-	-
Closing balance	(18)	(18)	41	41
Total reserves	1,077	794	1,114	858

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Capital adequacy

12 Months Ended

Sep. 30, 2018

Capital adequacy

Capital adequacy

Note 33. Capital adequacy

APRA measures an ADI’s regulatory capital using three measures:

Level of capital	Definition
Common Equity Tier 1 Capital (CET1)	Comprises the highest quality components of capital that consists of paid-up share capital, retained profits and certain reserves, less certain intangible assets, capitalised expenses and software, and investments and retained profits in insurance and funds management subsidiaries that are not consolidated for capital adequacy purposes.
Tier 1 Capital	The sum of CET1 and AT1 Capital. AT1 Capital comprises high quality components of capital that consist of certain securities not included in CET1, but which include loss absorbing characteristics.
Total Regulatory Capital	The sum of Tier 1 Capital and Tier 2 Capital. Tier 2 Capital includes subordinated instruments and other components of capital that, to varying degrees, do not meet the criteria for Tier 1 Capital, but nonetheless contribute to the overall strength of an ADI and its capacity to absorb losses.

Under APRA’s Prudential Standards, Australian ADIs, including Westpac, are required to maintain a minimum CET1 ratio of at least 4.5%, Tier 1 Capital ratio of at least 6.0% and Total Regulatory Capital ratio of at least 8.0%. APRA may also require ADIs, including, Westpac, to meet Prudential Capital Requirements (PCRs) above the minimum capital ratios. APRA does not allow the PCRs for individual ADIs to be disclosed.

APRA also requires ADIs to hold additional CET1 buffers comprising of:

§ a capital conservation buffer (CCB) of 3.5% for ADIs designated by APRA as domestic systemically important banks (D-SIBs) unless otherwise determined by APRA, which includes a 1.0% surcharge for D-SIBs. APRA has determined that Westpac is a D-SIB; and

§ a countercyclical capital buffer. The countercyclical buffer is set on a jurisdictional basis and APRA is responsible for setting the requirement in Australia. The countercyclical buffer requirement is currently set to zero for Australia and New Zealand.

Collectively, the above buffers are referred to as the “Capital Buffer” (CB). Should the CET1 capital ratio fall within the capital buffer range restrictions on the distributions of earnings will apply. This includes restrictions on the amount of earnings that can be distributed through dividends, AT1 Capital distributions and discretionary staff bonuses.

Capital management strategy

Westpac’s approach to capital management seeks to balance the fact that capital is an expensive form of funding with the need to be adequately capitalised. Westpac considers the need to balance efficiency, flexibility and adequacy when determining sufficiency of capital and when developing capital management plans.

Westpac evaluates these considerations through the Internal Capital Adequacy Assessment Process (ICAAP), the key features of which include:

§ the development of a capital management strategy, including consideration of regulatory minimums, capital buffers and contingency plans;

§ consideration of both economic and regulatory capital requirements;

§ a stress testing framework that challenges the capital measures, coverage and requirements including the impact of adverse economic scenarios; and

§ consideration of the perspective of external stakeholders’, including rating agencies and equity and debt investors.

In light of APRA’s announcement on ‘unquestionably strong’ capital benchmarks on 19 July 2017, Westpac will seek to operate with a CET1 capital ratio of at least 10.5% in March and September as measured under the existing capital framework. This also takes into consideration:

§ current regulatory capital minimums and the CCB, which together are the total CET1 requirement;

§ stress testing to calibrate an appropriate buffer against a downturn; and

§ quarterly volatility of capital ratios due to the half yearly cycle of ordinary dividend payments.

Westpac will revise its target capital level once APRA finalises its review of the capital adequacy framework.

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Dividends

12 Months Ended

Sep. 30, 2018

Dividends

Dividends

Note 34. Dividends

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Dividends not recognised at year end
Since year end the Directors have proposed the following dividends:
Final dividend 94 cents per share (2017: 94 cents, 2016: 94 cents)
all fully franked at 30%	3,227	3,186	3,142	3,229	3,191
Total dividends not recognised at year end	3,227	3,186	3,142	3,229	3,191

Shareholders can choose to receive their dividends as cash or reinvest for an equivalent number of shares under the Dividend Reinvestment Plan (DRP). The Board has decided to issue new shares to satisfy the DRP for the 2018 final dividend. The DRP will not include a discount.

Details of dividends recognised during the year are provided in the statement of changes in equity.

Australian franking credits

Australian franking credits available to the Parent Entity for subsequent years are $1,357 million (2017: $1,063 million; 2016: $911 million). This is calculated as the year end franking credit balance, adjusted for the Australian current tax liability and the proposed 2018 final dividend.

New Zealand imputation credits

New Zealand imputation credits of NZ$0.07 (2017: NZ$0.07, 2016: NZ$0.07) per share will be attached to the proposed 2018 final dividend. New Zealand imputation credits available to the Parent Entity for subsequent years are NZ$530 million (2017: NZ$375 million, 2016: NZ$423 million). This is calculated on the same basis as the Australian franking credits but using the New Zealand current tax liability.

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Investments in subsidiaries and associates

12 Months Ended

Sep. 30, 2018

Investments in subsidiaries and associates

Investments in subsidiaries and associates

Note 35. Investments in subsidiaries and associates

Accounting policy

Subsidiaries

Westpac’s subsidiaries are entities which it controls and consolidates as it is exposed to, or has rights to, variable returns from the entity, and can affect those returns through its power over the entity.

When the Group ceases to control a subsidiary, any retained interest in the entity is remeasured to fair value, with any resulting gain or loss recognised in the income statement.

Changes in the Group’s ownership interest in a subsidiary which do not result in a loss of control are accounted for as transactions with equity holders in their capacity as equity holders.

In the Parent Entity’s financial statements, investments in subsidiaries are initially recorded at cost and are subsequently held at the lower of cost and recoverable amount.

All transactions between Group entities are eliminated on consolidation.

Associates

Associates are entities in which the Group has significant influence, but not control, over the operating and financial policies. The Group accounts for associates using the equity method. The investments are initially recognised at cost (except where recognised at fair value due to a loss of control of a subsidiary), and increased (or decreased) each year by the Group’s share of the associate’s profit (or loss). Dividends received from the associate reduce the investment in associate.

Overseas companies predominantly carry on business in the country of incorporation. For unincorporated entities, ‘Country of Incorporation’ refers to the country where business is carried on. The financial years of all controlled entities are the same as that of Westpac unless otherwise stated. From time to time, the Group consolidates a number of unit trusts where the Group has variable returns from its involvement with the trusts, and has the ability to affect those returns through its power over the trusts. These unit trusts are excluded from the table.

The following table includes the material controlled entities of the Group as at 30 September 2018.

Name	Country of Incorporation	Name	Country of Incorporation
Advance Asset Management Limited	Australia	Westpac Equity Holdings Pty Limited	Australia
Asgard Capital Management Limited	Australia	Westpac Financial Services Group Limited	Australia
Asgard Wealth Solutions Limited	Australia	Westpac General Insurance Limited	Australia
BT Financial Group Pty Limited	Australia	Westpac General Insurance Services Limited	Australia
BT Funds Management Limited	Australia	Westpac Lenders Mortgage Insurance Limited	Australia
BT Portfolio Services Limited	Australia	Westpac Life Insurance Services Limited	Australia
Capital Finance Australia Limited	Australia	Westpac Securities Limited	Australia
Crusade ABS Series 2016-1 Trust	Australia	Westpac Securitisation Holdings Pty Limited	Australia
Crusade ABS Series 2017-1 Trust	Australia	BT Funds Management (NZ) Limited	New Zealand
Crusade ABS Series 2017-1P Trust	Australia	Westpac Financial Services Group-NZ-Limited	New Zealand
Crusade Trust No.2P of 2008	Australia	Westpac Life-NZ-Limited	New Zealand
Hastings Funds Management Limited	Australia	Westpac New Zealand Group Limited	New Zealand
Series 2008-1M WST Trust	Australia	Westpac New Zealand Limited	New Zealand
Series 2014-1 WST Trust	Australia	Westpac NZ Covered Bond Limited1	New Zealand
Series 2014-2 WST Trust	Australia	Westpac NZ Securitisation Limited1	New Zealand
Series 2015-1 WST Trust	Australia	Westpac Securities NZ Limited	New Zealand
St.George Finance Limited	Australia	Westpac Term Pie Fund2	New Zealand
St.George Motor Finance Limited	Australia	Westpac Bank-PNG-Limited	Papua New Guinea
Westpac Covered Bond Trust	Australia

1The Group indirectly owns 19% of Westpac NZ Covered Bond Limited (WNZCBL) and Westpac NZ Securitisation Limited (WNZSL), however, due to contractual and structural arrangements both WNZCBL and WNZSL are considered to be controlled entities within the Group.

2The Group has funding agreements in place with this entity and is deemed to have exposure to the associated risks and rewards. The entity is consolidated as the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.

The following controlled entities have been granted relief from compliance with the balance date synchronisation provisions in the Corporations Act 2001:

§ Westpac Cash PIE Fund;

§ Westpac Notice Saver PIE Fund; and

§ Westpac Term PIE Fund.

The following material controlled entities are not wholly owned:

Percentage Owned	2018	2017
St.George Motor Finance Limited	75.0%	75.0%
Westpac Bank-PNG-Limited	89.9%	89.9%
Westpac NZ Covered Bond Limited	19.0%	19.0%
Westpac NZ Securitisation Limited	19.0%	19.0%

Non-controlling interests

Details of the balance of non-controlling interests are set out in Note 32. There are no non-controlling interests that are material to the Group.

Significant restrictions

There were no significant restrictions on the ability to transfer cash or other assets, pay dividends or other capital distributions, provide or repay loans and advances between the entities within the Group subject to local regulatory requirements. There were also no significant restrictions on Westpac’s ability to access or use the assets and settle the liabilities of the Group resulting from protective rights of non-controlling interests.

Associates

There are no associates that are material to the Group.

On 26 May 2017, the Group sold 60 million shares of Pendal Group Limited, which reduced the Group’s ownership to approximately 10%. Following completion of the sale, the remaining interest in Pendal Group Limited was reclassified to available-for-sale securities.

The following table summarises the financial information of Pendal Group Limited and reconciles the summarised financial information to the carrying amount of the Group’s 29.0% investment in Pendal Group Limited as at 26 May 2017 immediately prior to the sale. The table also summarises the gain recognised on the sale of the Group’s interest in Pendal Group Limited as well as the fair value of the remaining interest in Pendal Group Limited initially recognised in available-for-sale securities.

Consolidated	Period ended
$m	26 May 2017
Summarised results
Revenue for the period	262
Net profit for the period	90
Other comprehensive income for the period	11
Total comprehensive income (100%)	101
Group’s share of net profit1	26
Equity accounting adjustments	(13)
Group’s share in net profit recognised in the income statement	13
Group’s share of other comprehensive income1	4
Tax effect on Group’s share of other comprehensive income	(1)
Share of total comprehensive income recognised by the Group	16
Dividends received from associates during the period	22
Summarised balance sheet
Total assets	887
Total liabilities	(122)
Total net assets (100%)	765
Group’s share of total net assets1	222
Fair value adjustments (including notional goodwill) on acquisition (net of amortisation)	491
Carrying amount of interest in Pendal Group Limited2	713
Carrying amount of interest in Pendal Group Limited sold	(471)
Carrying amount of remaining interest reclassified to available-for-sale securities	(242)
Remaining interest in Pendal Group Limited accounted for under equity method	-
Fair value of remaining interest reclassified to available-for-sale securities	375
Proceeds from sale of Pendal Group Limited interest, net of transaction costs	630
Amount of reserves recycled to profit or loss	(13)
Gain on sale of interest in Pendal Group Limited	279
Fair value of investment	n/a

1Represents the Group’s share of Pendal (26 May 2017: 29.0%).

2The amount disclosed as at 26 May 2017 represented the carrying value of interest in Pendal immediately prior to the sale.

Changes in ownership of subsidiaries

Businesses disposed during the year ending 30 September 2018

Westpac sold its interest in a number of Hastings offshore subsidiaries to Northill Capital. Completion of the sale of the US and UK entities occurred on 28 February 2018 and completion of the Singapore entity occurred on 23 March 2018, with a total loss of $9 million recognised in non-interest income. The total cash consideration received, net of transaction costs and cash held, was $9 million.

Businesses disposed during the year ending 30 September 2017

No businesses were sold in the year ended 30 September 2017.

Businesses disposed during the year ending 30 September 2016

Pacific Islands

Westpac sold its banking operations in Solomon Islands and Vanuatu to the Bank of South Pacific Limited (BSP). Settlement occurred on 30 October 2015 and 1 July 2016 respectively, with a gain of $1 million recognised in non-interest income.

The total cash consideration paid, net of transaction costs and cash held, was $104 million.

Details of the assets and liabilities over which control was lost are provided in Note 41.

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Structured entities

12 Months Ended

Sep. 30, 2018

Structured entities

Structured entities

Note 36. Structured entities

Accounting policy

Structured entities are generally created to achieve a specific, defined objective and their operations are restricted such as only purchasing specific assets. Structured entities are commonly financed by debt or equity securities that are collateralised by and/or indexed to their underlying assets. The debt and equity securities issued by structured entities may include tranches with varying levels of subordination.

Structured entities are classified as subsidiaries and consolidated if they meet the definition in Note 35. If the Group does not control a structured entity then it will not be consolidated.

The Group engages in various transactions with both consolidated and unconsolidated structured entities that are mainly involved in securitisations, asset backed and other financing structures and managed funds.

Consolidated structured entities

Securitisation and covered bonds

The Group uses structured entities to securitise its financial assets, including two covered bond programs to assign pools of residential mortgages to bankruptcy remote structured entities.

The Group also uses structured entities to give its customers access to funding from commercial paper markets.

Refer to Note 25 for further details.

Group managed funds

The Group acts as the responsible entity and/or fund manager for various investment management funds. As fund manager, if the Group is deemed to be acting as a principal rather than an agent then it consolidates the fund. The principal vs. agent decision requires judgement of whether the Group has sufficient exposure to variable returns.

Non-contractual financial support

The Group does not provide non-contractual financial support to these consolidated structured entities.

Unconsolidated structured entities

The Group has interests in various unconsolidated structured entities including debt or equity instruments, guarantees, liquidity and other credit support arrangements, lending, loan commitments, certain derivatives and investment management agreements.

Interests exclude non-complex derivatives (e.g. interest rate or currency swaps), instruments that create, rather than absorb, variability in the entity (e.g. credit protection under a credit default swap), and lending to a structured entity with recourse to a wider operating entity, not just the structured entity.

The Group’s main interests in unconsolidated structured entities, which arise in the normal course of business, are:

Trading securities	The Group actively trades interests in structured entities and normally has no other involvement with the structured entity. The Group earns interest income on these securities and also recognises fair value changes through trading income in non-interest income.
Available-for-sale securities	The Group holds mortgage-backed securities for liquidity purposes and the Group normally has no other involvement with the structured entity. These assets are highly-rated, investment grade and eligible for repurchase agreements with the RBA or another central bank. The Group earns interest income and net gains or losses on selling these assets are recognised in the income statements.
Loans and other credit commitments	The Group lends to unconsolidated structured entities, subject to the Group’s collateral and credit approval processes, in order to earn interest and fee income. The structured entities are mainly property trusts, securitisation entities and those associated with project and property financing transactions.
Investment management agreements	The Group manages funds that provide customers with investment opportunities. The Group also manages superannuation funds for its employees. The Group earns management and performance fee income which is recognised in non-interest income. The Group may also retain units in these investment management funds, primarily through life insurance subsidiaries. The Group earns fund distribution income and recognises fair value movements through non-interest income.

The following table shows the Group’s interests in unconsolidated structured entities and its maximum exposure to loss in relation to those interests. The maximum exposure does not take into account any collateral or hedges that will reduce the risk of loss.

§ For on-balance sheet instruments, including debt and equity instruments in and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value; and

§ For off-balance sheet instruments, including liquidity facilities, loan and other credit commitments and guarantees, the maximum exposure to loss is the notional amounts.

Consolidated 2018	Investment in
	Third Party
	Mortgage and			Interest
	Other	Financing to	Group	in Other
	Asset-Backed	Securitisation	Managed	Structured
$m	Securities1	Vehicles	Funds	Entities	Total
Assets
Receivables due from other financial institutions	-	-	-	-	-
Trading securities and financial assets designated at fair value	2,108	-	-	139	2,247
Available-for-sale securities	7,352	-	-	-	7,352
Loans	-	21,977	6	22,894	44,877
Life insurance assets	-	-	4,702	1,843	6,545
Other assets	-	-	47	-	47
Total on-balance sheet exposures	9,460	21,977	4,755	24,876	61,068
Total notional amounts of off-balance sheet exposures	-	5,145	60	7,988	13,193
Maximum exposure to loss	9,460	27,122	4,815	32,864	74,261
Size of structured entities2	58,976	27,122	66,524	100,427	253,049

Consolidated 2017	Investment in
	Third Party
	Mortgage and			Interest
	Other	Financing to	Group	in Other
	Asset-Backed	Securitisation	Managed	Structured
$m	Securities1	Vehicles	Funds	Entities	Total
Assets
Receivables due from other financial institutions	-	392	-	-	392
Trading securities and financial assets designated at fair value	1,740	-	-	674	2,414
Available-for-sale securities	6,981	-	-	-	6,981
Loans	-	20,032	44	22,488	42,564
Life insurance assets	-	-	4,344	1,735	6,079
Other assets	-	-	52	-	52
Total on-balance sheet exposures	8,721	20,424	4,440	24,897	58,482
Total notional amounts of off-balance sheet exposures	-	5,802	66	7,718	13,586
Maximum exposure to loss	8,721	26,226	4,506	32,615	72,068
Size of structured entities2	60,573	26,226	70,070	134,548	291,417

Non-contractual financial support

The Group does not provide non-contractual financial support to these unconsolidated structured entities.

1The Group’s interests in third party mortgage and other asset-backed securities are senior tranches of notes and are investment grade rated.

2Represented either by the total assets or market capitalisation of the entity, or if not available, the Group’s total committed exposure (for lending arrangements and external debt and equity holdings), funds under management (for Group managed funds) or the total value of notes on issue (for investments in third-party asset-backed securities).

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Share-based payments

12 Months Ended

Sep. 30, 2018

Share-based payments

Share-based payments

Note 37. Share-based payments

Accounting policy

The Group enters into various share-based payment arrangements with its employees as a component of overall compensation for services provided. Share-based payment arrangements comprise options to purchase shares at a pre-determined price (share options), rights to receive shares for free (share rights) and restricted shares (issued at no cost). Share-based payment arrangements typically require a specified period of continuing employment (the service period or vesting period) and may include performance targets (vesting conditions). Specific details of each arrangement are provided below.

Share-based payments must be classified as either cash-settled or equity-settled arrangements. The Group’s significant arrangements are equity-settled, as the Group is not obliged to settle in cash.

Options and share rights

Options and share rights are equity-settled arrangements. The fair value is measured at grant date and is recognised as an expense over the service period, with a corresponding increase in the share-based payment reserve in equity.

The fair value of share options and share rights is estimated at grant date using a binomial/Monte Carlo simulation pricing model which incorporates the vesting and market-related performance targets of the grants. The fair value of share options and rights excludes non-market vesting conditions such as employees’ continuing employment by the Group. The non-market vesting conditions are instead incorporated in estimating the number of share options and rights that are expected to vest and are therefore recognised as an expense. At each reporting date the non-market vesting assumptions are revised and the expense recognised each year takes into account the most recent estimates. The market-related assumptions are not revised each year as the fair value is not re-estimated after the grant date.

Restricted share plan (RSP)

The RSP is accounted for as an equity-settled arrangement.  The fair value of shares allocated to employees for nil consideration is recognised as an expense over the vesting period with a corresponding increase in the share-based payments reserve in equity. The fair value of ordinary shares issued to satisfy the obligation to employees is measured at grant date and is recognised as a separate component of equity.

Employee share plan (ESP)

The value of shares expected to be allocated to employees for nil consideration is recognised as an expense over the financial year and provided for as other employee benefits.  The fair value of any ordinary shares issued to satisfy the obligation to employees is recognised in equity.  Alternatively, shares may be purchased on market to satisfy the obligation to employees.

Scheme name	Westpac Long Term Incentive Plan (LTI)	Westpac Performance Plan (WPP)	Restricted Share Plan (RSP)	Employee Share Plan (ESP)
Type of share-based payment	Share rights (allocated at no cost). Share options (no longer issued since October 2009).	Share rights (allocated at no cost). Share options (no longer issued since October 2009).	Westpac ordinary shares (allocated at no cost).	Westpac ordinary shares (allocated at no cost) of up to $1,000 per employee per year.
How it is used	Aligns executive remuneration and accountability with shareholder interests over the long term.	The mandatory deferral of a portion of short-term incentives for New Zealand employees and key employees based outside Australia.	To reward key employees in respect of the previous financial year.	To reward eligible Australian employees (unless they have already been provided instruments under another scheme for the previous year).
Exercise price:
Shares rights	Nil.	Nil.	n/a.	n/a.
Share options	The market price of Westpac shares at the start of the performance period	The market price of Westpac shares at the start of the performance period.	n/a	n/a

Scheme name	Westpac Long Term Incentive Plan (LTI)	Westpac Performance Plan (WPP)	Restricted Share Plan (RSP)	Employee Share Plan (ESP)
Performance hurdles	Relative total shareholder return (TSR) over a 4 year performance period and average cash Return on Equity (cash ROE) over a three year performance period plus 1 year holding lock, each applying to half of the award1(commencing with the 2016 LTI award)2.	None.	None.	None.
Service conditions	Continued employment throughout the vesting period or as determined by the Board.	Continued employment throughout the vesting period or as determined by the Board.	Continued employment throughout the restriction period or as determined by the Board.	Shares must normally remain within the ESP for three years from granting unless the employee leaves Westpac.
Vesting period (period over which expenses are recognised)	4 years2	Defined period set out at time of grant.	Defined period set out at time of grant.	1 year
Treatment at end of term	Lapse if not exercised.	Lapse if not exercised.	Vested shares are released from the RSP at the end of the vesting period. Shares granted prior to October 2009 may be held in the RSP for up to 10 years from the grant date.	Shares are released at the end of the restriction period or when the employee leaves Westpac.
Does the employee receive dividends and voting rights during the vesting period?	No	No	Yes	Yes

1Details of the TSR and cash ROE performance targets are provided in the Remuneration Report in Section 4.3.

2For the 2015 LTI awards, the TSR is subject to a four year performance period and Cash EPS compound annual growth rate (CAGR) over a three year performance period plus 1 year holding lock. For awards granted for the periods 2011 to 2014 both the TSR and CAGR hurdles are subject to a three year performance and vesting period.  TSR hurdled awards granted prior to 2011 were measured over an initial three year performance period with subsequent performance testing possible at the fourth and fifth anniversaries however further vesting may only occur if the TSR ranking has improved.

Each share-based payment scheme is quantified below:

(i)    Westpac Long Term Incentive Plan

	Outstanding at	Granted	Exercised	Lapsed		Outstanding
	1 October	During	During	During	Outstanding at	and Exercisable at
2018	2017	the Year	the Year	the Year	30 September 2018	30 September 2018
Share options	256,840	-	103,686	100,804	52,350	52,350
Weighted average exercise price	$ 26.36	-	$ 24.23	-	$ 23.40	$ 23.40
Weighted average remaining
contractual life	0.7 years				0 years
Share rights	5,231,904	808,290	2,929	1,324,422	4,712,843	3,719
Weighted average remaining
contractual life	10.3 years				10.9 years
2017	1 Oct 2016				30 Sept 2017
Share options	583,018	-	326,178	-	256,840	256,840
Weighted average exercise price	$ 27.58	-	$ 28.54	-	$ 26.36	$ 26.36
Performance share rights	5,275,652	930,012	-	973,760	5,231,904	6,648

The weighted average fair value at grant date of LTI share rights issued during the year was $17.86 (2017: $19.17).

(ii)   Westpac Performance Plan (WPP)

	Outstanding at	Granted	Exercised	Lapsed		Outstanding
	1 October	During	During	During	Outstanding at	and Exercisable at
2018	2017	the Year	the Year	the Year	30 September 2018	30 September 2018
Share rights
One-year vesting period	155,419	72,000	66,357	20,531	140,531	53,644
Two-year vesting period	233,456	88,967	60,882	8,151	253,390	42,455
Three-year vesting period	104,382	43,589	29,452	780	117,739	28,426
Four-year vesting period	126,522	42,346	-	6,639	162,229	-
Total share rights	619,779	246,902	156,691	36,101	673,889	124,525
Weighted average remaining
contractual life	12.3 years				12.4 years
2017	1 Oct 2016				30 Sept 2017
Share options	74,094	-	52,745	21,349	-	-
Weighted average exercise price	$ 23.98	-	$ 23.98	-	-	-
Performance share rights	391,503	393,536	142,093	23,167	619,779	118,912

The weighted average fair value at grant date of WPP share rights issued during the year was $27.83 (2017: $27.40).

(iii)  Restricted Share Plan (RSP)

	Outstanding at	Granted		Forfeited
	1 October	During		During	Outstanding at
Allocation date1	2017	the Year	Released	the Year	30 September 2018
Granted prior to October 2009	675,329	-	328,597	-	346,732
Granted subsequent to October 2009	3,529,424	2,479,975	1,896,648	269,839	3,842,912
Total 2018	4,204,753	2,479,975	2,225,245	269,839	4,189,644
Total 2017	4,426,872	2,195,572	2,332,985	84,706	4,204,753

The weighted average fair value at grant date of RSP share rights issued during the year was $31.29 (2017: $32.24).

1For awards made prior to October 2009, shares may be held in the RSP for up to 10 years from the date they are granted.  For awards made from October 2009, shares are released from the RSP on vesting.

(iv)  Employee Share Plan (ESP)

			Average Number	Total Number
	Allocation	Number of	of Shares Allocated	of Shares	Market	Total
	Date	Participants	per Participant	Allocated	Price per Share1	Fair Value
2018	24 November 2017	27,557	31	854,267	$ 31.80	$ 27,165,691
2017	25 November 2016	26,966	32	862,912	$ 31.25	$ 26,966,000

1The market price per share for the allocation is based on the five day volume-weighted average price up to the grant date.

The 2017 ESP award was satisfied through the purchase of shares on market.

The liability accrued for the ESP at 30 September 2018 is $28 million (2017: $28 million) and is provided for as other employee benefits.

(v)CEO plans

Details of share-based payment arrangements held by the CEO, Brian Hartzer, which are on the same terms and conditions as described above for the relevant plan, are provided in the Remuneration report in Section 1.

(vi)Other plans

Westpac also provides plans for small, specialised parts of the Group. The benefits under these plans are directly linked to growth and performance of the relevant part of the business. The plans individually and in aggregate are not material to the Group in terms of expenses and dilution of earnings.

The names of all persons who hold share options and/or rights currently on issue are entered in Westpac’s register of option holders which may be inspected at Link Market Services, Level 12, 680 George Street, Sydney, New South Wales.

(vii)Fair value assumptions

The fair values of share options and share rights have been independently calculated at their respective grant dates.

The fair value of share rights with performance targets based on relative TSR takes into account the average TSR outcome determined using a Monte Carlo simulation pricing model.

The fair values of share rights without TSR based performance targets, (i.e. share rights with Cash EPS CAGR, economic profit and ROE performance targets), have been determined with reference to the share price at grant date and a discount rate reflecting the expected dividend yield over their vesting periods.

Other significant assumptions include:

§ a risk free rate of return of 2.6%, applied to TSR-hurdled grants;

§ a dividend yield on Westpac shares of 6.0%, applied to TSR and ROE-hurdled grants;

§ volatility in Westpac’s TSR of 19.9%, applied to TSR-hurdled grants; and

§ volatilities of, and correlation factors between, TSR of the comparator group and Westpac for TSR-hurdled grants.

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Superannuation commitments

12 Months Ended

Sep. 30, 2018

Superannuation commitments

Superannuation commitments

Note 38. Superannuation commitments

Accounting policy

The Group recognises an asset or a liability for its defined benefit schemes, being the net of the defined benefit obligations and the fair value of the schemes’ assets. The defined benefit obligation is calculated as the present value of the estimated future cash flows, discounted using high-quality long dated corporate bond rates.

The superannuation expense is recognised in operating expenses and remeasurements are recognised through other comprehensive income.

Critical accounting assumptions and estimates

The actuarial valuation of plan obligations is dependent upon a series of assumptions, principally price inflation, salary growth, mortality, morbidity, discount rate and investment returns. Different assumptions could significantly alter the valuation of the plan assets and obligations and the superannuation cost recognised in the income statement.

Westpac had the following defined benefit plans at 30 September 2018:

Name of Plan	Type	Form of Benefit	Date of Last Actuarial Assessment of the Funding Status
Westpac Group Plan (WGP)1	Defined benefit and accumulation	Indexed pension and lump sum	30 June 2015
Westpac New Zealand Superannuation Scheme (WNZS)	Defined benefit and accumulation	Indexed pension and lump sum	30 June 2017
Westpac Banking Corporation UKStaff Superannuation Scheme (UKSS)1	Defined benefit	Indexed pension and lump sum	5 April 2015
Westpac UK Medical Benefits Scheme	Defined benefit	Medical benefits	n/a

1The 2018 final actuarial assessment of the funding status for WGP and UKSS will be available in 2019.

The defined benefit sections of the schemes are closed to new members. The Group has no obligation beyond the annual contributions for the accumulation or defined contribution sections of the schemes.

The WGP is the Group’s principal defined benefit plan and is managed and administered in accordance with the terms of its trust deed and relevant legislation in Australia. Its defined benefit liabilities are based on salary and length of membership for active members and inflation in the case of pensioners.

The defined benefit schemes expose the Group to the following risks:

§ discount rate – reductions in the discount rate would increase the present value of the future payments;

§ inflation rate – increases in the inflation rate would increase the payments to pensioners;

§ investment risk – lower investment returns  would increase the contributions needed to offset the shortfall;

§ mortality risk – members may live longer than expected extending the cash flows payable by the Group; and

§ legislative risk – legislative changes could be made which increase the cost of providing defined benefits.

Investment risk is managed by setting benchmarks for the allocation of plan assets between asset classes. The long-term investment strategy will often adopt relatively high levels of equity investment in order to:

§ secure attractive long term investment returns; and

§ provide an opportunity for capital appreciation and dividend growth, which gives some protection against inflation.

Funding recommendations for the WGP, WNZS and the UKSS are made based on triennial actuarial valuations. These valuations resulted in a funding surplus of $324 million for the year ended 30 September 2018 (2017: $315 million). Current contribution rates are as follows:

§ WGP – contributions are made to the WGP at the rate of 11.8% of members’ salaries;

§ WNZS – contributions are made to the WNZS at the rate of 12% of members’ salaries; and

§ UKSS – contributions are made to the UKSS at the rate of £1.05 million per year.

Contributions

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Employer contributions	30	33	30	33
Member contributions	12	13	11	12

Expected employer contributions for the year ended 30 September 2019 are $29 million.

Expense recognised

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Current service cost	37	42	43	37	41
Net interest cost on net benefit liability	1	8	7	-	7
Total defined benefit expense	38	50	50	37	48

Defined benefit balances recognised

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Benefit obligation at end of the year	2,314	2,284	2,239	2,209
Fair value of plan assets at end of the year	2,378	2,289	2,319	2,227
Net surplus/(deficit)	64	5	80	18
Defined benefit surplus (Note 27)	89	48	89	48
Defined benefit deficit (Note 29)	(25)	(43)	(9)	(30)
Net surplus/(deficit)	64	5	80	18

The average duration of the defined benefit obligation is 11 years (2017: 11 years).

Significant assumptions

	2018		2017
	Australian	Overseas	Australian	Overseas
Consolidated and Parent Entity	Funds	Funds	Funds	Funds
Discount rate	4.1%	2.6%-2.9%	4.2%	2.7%-3%
Salary increases	2.9%	3%-5%	3.0%	3%-5%
Inflation rate (pensioners receive inflationary increases)	1.9%	2%-3.5%	2.0%	2%-3.5%
Life expectancy of a 60-year-old male	31.0	27.9-28.4	30.8	27.7-28.9
Life expectancy of a 60-year-old female	33.9	29.4-29.6	33.7	29.2-30.3

Sensitivity to changes in significant assumptions

The table below shows the impact of changes in assumptions on the defined benefit obligation for the WGP. No reasonably possible changes in the assumptions of the Group’s other defined benefit plans would have a material impact on the defined benefit obligation.

	Increase in obligation
Change in assumption	2018	2017
0.5% decrease in discount rate	120	116
0.5% increase in annual salary increases	8	10
0.5% increase in inflation rate (pensioners receive inflationary increases)	111	106
1 year increase in life expectancy	38	29

Asset allocation

Consolidated and Parent Entity	2018		2017
	Australian	Overseas	Australian	Overseas
%	Funds	Funds	Funds	Funds
Cash	5%	2%	4%	2%
Equity instruments	45%	7%	44%	13%
Debt instruments	28%	80%	29%	65%
Property	10%	1%	10%	10%
Other Assets	12%	10%	13%	10%
Total	100%	100%	100%	100%

Equity and debt instruments are mainly quoted assets while property and other assets are mainly unquoted. Other assets include infrastructure funds and private equity funds.

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Auditor's remuneration

12 Months Ended

Sep. 30, 2018

Auditor's remuneration

Auditor's remuneration

Note 39. Auditor’s remuneration

The fees payable to the auditor, PricewaterhouseCoopers (PwC), and overseas firms belonging to the PwC network of firms were:

	Consolidated		Parent Entity
$’000	2018	2017	2018	2017
Audit and audit-related fees
Audit fees
PwC Australia	19,999	17,886	19,967	17,833
Overseas PwC network firms	3,338	3,225	68	852
Total audit fees	23,337	21,111	20,035	18,685
Audit-related fees
PwC Australia	2,316	3,938	2,224	3,739
Overseas PwC network firms	117	68	-	65
Total audit-related fees	2,433	4,006	2,224	3,804
Total audit and audit-related fees	25,770	25,117	22,259	22,489
Tax fees
PwC Australia	169	5	49	-
Overseas PwC network firms	-	8	-	-
Total tax fees	169	13	49	-
Other fees
PwC Australia	1,581	1,853	1,501	912
Overseas PwC network firms	-	90	-	90
Total other fees	1,581	1,943	1,501	1,002
Total audit and non-audit fees	27,520	27,073	23,809	23,491

Fees payable to the auditor have been categorised as follows:

Audit	The year end audit, half-year review and comfort letters associated with debt issues and capital raisings.
Audit-related	Consultations regarding accounting standards and reporting requirements, regulatory compliance reviews and assurance related to debt and capital offerings.
Tax	Tax compliance and tax advisory services.
Other	Various services including systems assurance, compliance advice and controls reviews.

It is Westpac’s policy to engage PwC on assignments additional to their statutory audit duties only if their independence is not impaired or seen to be impaired and where their expertise and experience with Westpac is important. All services were approved by the Audit Committee in accordance with the pre-approval policy and procedures.

PwC also received fees of $7.5 million (2017: $6.0 million) for various entities which are related to Westpac but not consolidated. These non-consolidated entities include entities sponsored by the Group, trusts of which a Westpac Group entity is trustee, manager or responsible entity, superannuation funds and pension funds.

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Related party disclosures

12 Months Ended

Sep. 30, 2018

Related party disclosures

Related party disclosures

Note 40. Related party disclosures

Related parties

Westpac’s related parties are those it controls or can exert significant influence over. Examples include subsidiaries, associates, joint ventures and superannuation plans as well as key management personnel and their related parties.

Key management personnel (KMP)

Key management personnel are those who, directly or indirectly, have authority and responsibility for planning, directing and controlling the activities of Westpac. This includes all Executive and Non-Executive Directors.

Parent Entity

Westpac Banking Corporation is the ultimate parent company of the Group.

Subsidiaries - Note 35

The Parent Entity has the following related party transactions and balances with subsidiaries:

Type of transaction/balance	Details disclosed in
Balances due to / from subsidiaries	Balance Sheet
Dividend income / Transactions with subsidiaries	Note 4
Interest income and Interest expense	Note 3
Tax consolidated group transactions and undertakings	Note 7
Guarantees and undertakings	Note 31

The balances due to / from subsidiaries include a wide range of banking and other financial facilities.

The terms and conditions of related party transactions between the Parent Entity and subsidiaries are sometimes different to commercial terms and conditions. Related party transactions between the Parent Entity and subsidiaries eliminate on consolidation.

Associates - Note 35

The Group provides a wide range of banking and other financial facilities and funds management activities to its associates on commercial terms and conditions.

Superannuation plans

The Group contributed $348 million (2017: $329 million) to defined contribution plans and $30 million to defined benefit plans (2017: $33 million; refer to Note 38).

Remuneration of KMP

Total remuneration of the KMP was:

	Short-term	Post Employment	Other Long-term	Termination	Share-based
$	Benefits	Benefits	Benefits	Benefits	Payments	Total
Consolidated
2018	23,210,820	618,631	297,495	-	16,086,623	40,213,569
2017	25,048,403	621,606	156,590	-	16,106,111	41,932,710
Parent Entity
2018	21,807,008	537,187	297,495	-	15,301,417	37,943,107
2017	23,859,466	545,524	156,590	-	15,268,712	39,830,292

Other transactions with KMP

KMP receive personal banking and financial investment services from the Group in the ordinary course of business. The terms and conditions, for example interest rates and collateral, and the risks to Westpac are comparable to transactions with other employees and did not involve more than the normal risk of repayment or present other unfavourable features.

Details of loans provided and the related interest charged to KMP and their related parties are as follows:

	Interest Payable	Closing Loan	Number of KMP
$	for the Year	Balance	with Loans
2018	650,969	17,498,526	13
2017	739,466	15,290,320	9

Further details of the KMP’s remuneration, share rights and options and other transactions with KMP are included in the Remuneration report in Section 1.

Options and share rights holdings

For compliance with SEC disclosure requirements, the following table sets out certain details of the performance options, performance share rights and unhurdled share rights held at 30 September 2018 by the CEO and other key management personnel (including their related parties):

	Latest Date of Exercise	Number of Share Rights	Number of Options	Exercise Price of Options
Managing Director & Chief Executive Officer
Brian Hartzer	Ranges from 1 October 2024 to 1 October 2032	767,080	-	n/a
Group Executives
Lyn Cobley	Ranges from 1 October 2030 to 1 October 2032	261,846	-	n/a
Brad Cooper	Ranges from 1 October 2024 to 1 October 2032	329,216	-	n/a
David Curran	Ranges from 1 October 2024 to 1 October 2032	288,436	-	n/a
George Frazis	Ranges from 1 October 2024 to 1 October 2032	300,880	-	n/a
Peter King	Ranges from 1 October 2024 to 1 October 2032	314,259	-	n/a
David Lees	Ranges from 1 October 2018 to 1 October 2030	31,402	25,562	23.40
Rebecca Lim	Ranges from 1 October 2024 to 1 October 2032	144,092	-	n/a
David Linberg	Ranges from 1 October 2024 to 1 October 2032	254,369	-	n/a
Carolyn McCann	Ranges from 1 October 2024 to 1 October 2032	42,816	-	n/a
David McLean	Ranges from 1 October 2022 to 1 October 2032	295,136	-	n/a
Christine Parker	Ranges from 1 October 2024 to 1 October 2032	240,311	-	n/a
Gary Thursby	Ranges from 1 October 2024 to 1 October 2032	154,553	-	n/a

Former Group Executive

Alexandra Holcomb Ranges from 1 October 2024 to 1 October 2032 292,576 - n/a

Further details of the equity holdings of KMP are included in the Remuneration report in Section 1.

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Notes to the cash flow statements

12 Months Ended

Sep. 30, 2018

Notes to the cash flow statements

Notes to the cash flow statements

Note 41. Notes to the cash flow statements

Accounting policy

Cash and cash equivalents includes cash held at branches and in ATMs, balances with overseas banks in their local currency and balances with central banks including accounts with the RBA and accounts with overseas central banks.

Reconciliation of net cash provided by/(used in) operating activities to net profit for the year is set out below:

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Net profit for the year	8,099	7,997	7,460	8,144	7,843
Adjustments:
Depreciation, amortisation and impairment	1,144	1,269	1,228	952	1,122
Impairment charges	889	1,021	1,261	820	991
Net (decrease)/increase in current and deferred tax	(96)	(34)	(285)	(598)	(572)
(Increase)/decrease in accrued interest receivable	(83)	(75)	25	(74)	(81)
(Decrease)/increase in accrued interest payable	241	148	(47)	217	154
(Decrease)/increase in provisions1	289	219	(68)	294	28
Other non-cash items1	332	(419)	(331)	420	219
Cash flows from operating activities before changes in operating assets and liabilities	10,815	10,126	9,243	10,175	9,704
Net (increase)/decrease in derivative financial instruments	8,584	(5,042)	(5,107)	8,263	(5,378)
Net (increase)/decrease in life insurance assets and liabilities	(230)	219	(253)	-	-
(Increase)/decrease in other operating assets:
Trading securities and financial assets designated at fair value	3,827	(5,054)	6,755	3,150	(5,194)
Loans	(24,740)	(26,815)	(38,082)	(23,661)	(27,677)
Receivables due from other financial institutions	1,678	2,653	(896)	987	1,817
Regulatory deposits with central banks overseas	(303)	308	(209)	(299)	294
Other assets	160	200	(476)	210	136
(Decrease)/increase in other operating liabilities:
Other financial liabilities at fair value through income statement	243	(681)	(4,488)	261	(325)
Deposits and other borrowings	23,928	23,062	38,771	20,783	22,518
Payables due to other financial institutions	(4,072)	3,859	(73)	(4,396)	3,792
Other liabilities	(88)	(15)	312	(196)	78
Net cash provided by/(used in) operating activities	19,802	2,820	5,497	15,277	(235)

1Comparatives have been revised for consistency.

Details of the assets and liabilities over which control ceased

Details of the entities over which control ceased are provided in Note 35.

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Assets:
Cash and balances with central banks	10	-	138	-	-
Available-for-sale securities	-	-	1	-	-
Loans	-	-	132	-	-
Regulatory deposits with central banks overseas	-	-	5	-	-
Property and equipment	2	-	3	-	-
Deferred tax assets	4	-	1	-	-
Intangible assets	15	-	1	-	-
Other assets	5	-	27	-	-
Total assets	36	-	308	-	-
Liabilities:
Deposits and other borrowings	-	-	264	-	-
Current tax liabilities	-	-	2	-	-
Provisions	2	-	1	-	-
Other liabilities	3	-	6	-	-
Total liabilities	5	-	273	-	-
Total equity attributable to owners of Westpac Banking Corporation	31	-	35	-	-
Cash proceeds (net of transaction costs)	19	-	34	-	-
Total consideration	19	-	34	-	-
Reserves recycled to income statement	3	-	2	-	-
Gain/(loss) on disposal	(9)	-	1	-	-
Reconciliation of cash proceeds from disposal
Cash proceeds received (net of transaction costs)	19	-	34	-	-
Less: Cash deconsolidated	(10)	-	(138)	-	-
Cash consideration (paid)/received (net of transaction costs and cash held)	9	-	(104)	-	-
Non-cash financing activities
	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Shares issued under the dividend reinvestment plan	631	1,452	726	631	1,452
Shares issued from the conversion of Westpac CPS	566	-	-	566	-

On 13 March 2018, 6,233,643 Westpac CPS were converted to Westpac Capital Notes 5 for a total value of $623 million.  On 3 April 2018, the remaining $566 million of Westpac CPS were transferred to the Westpac CPS nominated party for $100 each. Following the transfer, those remaining Westpac CPS were converted into 19,189,765 ordinary shares.

Restricted cash

The amount of cash and cash equivalents not available for use at 30 September 2018 was nil (2017: $38 million) for the Group and nil for the Parent Entity (2017: nil).

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Subsequent events

12 Months Ended

Sep. 30, 2018

Subsequent events

Subsequent events

Note 42. Subsequent events

No other matters have arisen since the year ended 30 September 2018 which is not otherwise dealt with in this report, that has significantly affected or may significantly affect the operations of the Group, the results of its operations or the state of affairs of the Group in subsequent periods.

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Financial statements preparation (Policies)

12 Months Ended

Sep. 30, 2018

Financial statements preparation

Basis of accounting

Basis of accounting

This financial report is a general purpose financial report prepared in accordance with:

§ the requirements for an authorised deposit-taking institution under the Banking Act 1959 (as amended);

§ Australian Accounting Standards (AAS) and Interpretations as issued by the Australian Accounting Standards Board (AASB); and

§ the Corporations Act 2001.

Westpac Banking Corporation is a for-profit entity for the purposes of preparing this financial report.

The financial report also complies with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and Interpretations as issued by the IFRS Interpretations Committee (IFRIC). It also includes additional disclosures required for foreign registrants by the United States Securities and Exchange Commission (US SEC).

All amounts have been rounded in accordance with ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191, to the nearest million dollars, unless otherwise stated.

Historical cost convention

Historical cost convention

The financial report has been prepared under the historical cost convention, as modified by applying fair value accounting to available-for-sale securities, and financial assets and liabilities (including derivative instruments) measured at fair value through income statement or in other comprehensive income.

Comparative revisions

Comparative revisions

Comparative information has been revised where appropriate to conform to changes in presentation in the current year and to enhance comparability.

Standards adopted during the year ended 30 September 2018

Standards adopted during the year ended 30 September 2018

The Group adopted the requirements of AASB 2016-2-Amendments to Australian Accounting Standards – Disclosure Initiative: Amendments to AASB 107 which require additional disclosures regarding both cash and non-cash changes in liabilities arising from financing activities. These disclosures have been made in Note 19 and Note 20. As permitted by the standard, comparatives are not required on first application.

There were no other new standards applied in 2018.

Business combinations

Business combinations

Business combinations are accounted for using the acquisition method of accounting. Acquisition cost is measured as the aggregate of the fair value at the date of acquisition of the assets given, equity instruments issued or liabilities incurred or assumed. Acquisition-related costs are expensed as incurred (except for those costs arising on the issue of equity instruments which are recognised directly in equity).

Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured at fair value on the acquisition date. Goodwill is measured as the excess of the acquisition cost, the amount of any non-controlling interest and the fair value of any previous Westpac equity interest in the acquiree, over the fair value of the identifiable net assets acquired.

Foreign currency translation

Foreign currency translation

Functional and presentational currency

The consolidated financial statements are presented in Australian dollars which is the Parent Entity’s functional and presentation currency. The functional currency of offshore entities is usually the main currency of the economy it operates in.

Transactions and balances

Foreign currency transactions are translated into the functional currency of the relevant branch or subsidiary using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement, except when deferred in other comprehensive income for qualifying cash flow hedges and qualifying net investment hedges.

Foreign operations

Assets and liabilities of foreign branches and subsidiaries that have a functional currency other than the Australian dollar are translated at exchange rates prevailing on the balance date. Income and expenses are translated at average exchange rates prevailing during the year. Equity balances are translated at historical exchange rates. The resulting exchange differences are recognised in the foreign currency translation reserve and in other comprehensive income.

On consolidation, exchange differences arising from the translation of borrowings and other foreign currency instruments designated as hedges of the net investment in foreign operations are reflected in the foreign currency translation reserve and in other comprehensive income. When all or part of a foreign operation is disposed or borrowings that are part of the net investments are repaid, a proportionate share of such exchange differences is recognised in the income statement as part of the gain or loss on disposal or repayment of borrowing.

Critical accounting assumptions and estimates

Critical accounting assumptions and estimates

Applying the Group’s accounting policies requires the use of judgement, assumptions and estimates which impact the financial information. The significant assumptions and estimates used are discussed in the relevant notes below:

§ Note 7Income tax

§ Note 14Provisions for impairment charges

§ Note 15Life insurance assets and life insurance liabilities

§ Note 23Fair values of financial assets and financial liabilities

§ Note 26Intangible assets

§ Note 28Provisions

§ Note 38Superannuation commitments

Future developments in accounting standards

Future developments in accounting standards

The following new standards and interpretations which may have a material impact on the Group have been issued but are not yet effective, and unless otherwise stated, have not been early adopted by the Group:

AASB 9 Financial Instruments (December 2014) (AASB 9) will replace AASB 139 Financial Instruments: Recognition and Measurement (AASB 139). It includes a forward looking ‘expected credit loss’ impairment model, revised classification and measurement model and modifies the approach to hedge accounting. The standard is effective from 1 October 2018.

The adoption of AASB 9 is expected to reduce retained earnings at 1 October 2018 by approximately $709 million (net of tax) primarily due to the increase in impairment provisions under the new standard. The Group continues to assess and refine certain aspects of our impairment provision process and the opening adjustment may change. There is no significant impact to our regulatory capital. These estimates are based on accounting policies, assumptions, judgements and estimation techniques that remain subject to change until the Group finalises its financial statements for the year ending 30 September 2019.

The major changes under the standard and details of the implementation project are outlined below.

Impairment

AASB 9 introduces a revised impairment model which requires entities to recognise expected credit losses based on unbiased forward looking information, replacing the existing incurred loss model in AASB 139 which only recognises impairment if there is objective evidence that a loss has been incurred. This will result in the earlier recognition of impairment provisions. The revised impairment model applies to all financial assets at amortised cost, lease receivables, debt securities measured at fair value through other comprehensive income, loans commitments and financial guarantee contracts.

Key elements of the new impairment model are:

§ requires earlier recognition of expected credit losses using a three stage approach. For financial assets where there has been no significant increase in credit risk since origination a provision for 12 months expected credit losses is required (stage 1). For financial assets where there has been a significant increase in credit risk or where the asset is credit impaired a provision for full lifetime expected losses is required (stages 2 and 3 respectively);

§ expected credit losses are probability-weighted amounts determined by evaluating a range of possible outcomes and taking into account the time value of money, past events, current conditions and forecasts of future economic conditions. This will involve a greater use of judgement than the existing impairment model; and

§ interest is calculated on the gross carrying amount of a financial asset, except where the asset is credit impaired (i.e. stage 3). This will result in an increase in interest income and impairment charges as currently interest is calculated on the net carrying value for all loans.

Implementation

Measurement

Models have been developed, tested and approved while certain aspects of the impairment provisioning process continue to be assessed and refined. These models use three main components (as well as the time value of money) being:

§ Probability of default (PD): the probability that a counterparty will default;

§ Loss given default (LGD): the loss that is expected to arise in the event of a default; and

§ Exposure at default (EAD): the estimated outstanding amount of credit exposure at the time of the default.

The models use a 12 month timeframe for expected losses in stage 1 and a lifetime timeframe for expected losses in stages 2 and 3. The models incorporate past experience, current conditions and multiple probability-weighted macroeconomic scenarios for reasonably supportable future economic conditions. Where appropriate, adjustments will be made to modelled outcomes to reflect reasonable and supportable information not already incorporated in the models.

Significant increase in credit risk and movement between stages

An asset will move from stage 1 to stage 2 if there has been a significant increase in credit risk since origination.

The judgement to determine this will be primarily based on changes in internal customer risk grades since origination of the facility.  The Group does not intend to rebut the presumption that instruments that are 30 days past due have experienced a significant increase in risk but this will be used as a backstop rather than the primary indicator.

The Group will not be applying the low credit risk exemption which assumes investment grade facilities do not have a significant increase in credit risk.

The movement between stages 2 and 3 will be based on whether financial assets are credit-impaired at the reporting date which is expected to be similar to the individual assessment of impairment for financial assets under the current AASB 139.

Assets may move in both directions through the stages of the impairment model. Assets previously in stage 2 may move back to stage 1 if it is no longer considered that there has been a significant deterioration of credit risk. Similarly, assets in stage 3 may move back to stage 2 if they are no longer assessed to be credit-impaired.

Forward looking information

The estimation of forward looking information is a key area requiring judgement. The Group intends to consider a minimum of three future macroeconomic scenarios. These will include a base case scenario along with upside and downside scenarios. The macroeconomic variables used in these scenarios, based on current economic forecasts, include (but are not limited to) unemployment rates, gross domestic product growth rates and residential and commercial property price indices. The macroeconomic variables and probability weightings of the three scenarios will be subject to the approval of the Group Chief Financial Officer and the Chief Risk Officer with oversight from the Board of Directors (and its Committees).

Governance

The Group has established a governance framework and has implemented controls to address disclosure of the impact of the new requirements of AASB 9 including key areas of judgement such as the determination of a significant increase in credit risk and the use of forward looking information in future economic scenarios along with the controls addressing credit data and systems and the expected credit loss models.

The AASB 9 provision calculation models have been independently reviewed in accordance with the Group’s model risk policies and approved by the Credit Risk Estimates Committee (CREC). The key judgements in relation to the new provisioning methodology have been discussed and agreed with the Board Risk and Compliance Committee (BRCC) and the Board Audit Committee.

Models and credit risk processes have been tested in parallel run since May 2018 to provide a better understanding of the implications of the new impairment requirements. This included an evaluation of the effect on the Group’s results as well as ongoing validation of the controls and effectiveness of the governance and operational processes. The control environment will continue to evolve as the Group embeds processes and controls during the financial year ending 30 September 2019.

Classification and measurement

AASB 9 replaces the classification and measurement model in AASB 139 with a new model that categorises financial assets based on a) the business model within which the assets are managed, and b) whether the contractual cash flows under the instrument solely represent the payment of principal and interest. Financial assets will be measured at:

§ amortised cost where the business model is to hold the financial assets in order to collect contractual cash flows and those cash flows represent solely payments of principal and interest;

§ fair value through other comprehensive income where the business model is to both collect contractual cash flows and sell financial assets and the cash flows represent solely payments of principal and interest. Non-traded equity instruments can also be measured at fair value through other comprehensive income; or

§ fair value through profit or loss if they are held for trading or if the cash flows on the asset do not solely represent payments of principal and interest. An entity can also elect to measure a financial asset at fair value through profit or loss if it eliminates or reduces an accounting mismatch.

The accounting for financial liabilities is largely unchanged.

Implementation

The Group’s classification and measurement implementation project has identified approximately $800 million of available-for-sale financial assets which will be reclassified to amortised cost under AASB 9 based on the hold to collect business model. In addition, the Group identified some available-for-sale and amortised cost financial assets that will be reclassified to fair value through profit and loss, however, the amounts being reclassified are not material.

Hedging

AASB 9 will change hedge accounting by increasing the eligibility of both hedged items and hedging instruments and introducing a more principles-based approach to assessing hedge effectiveness. Adoption of the new hedge accounting model is optional until the IASB completes its accounting for dynamic risk management project. Until this time, current hedge accounting under AASB 139 can continue to be applied.

Implementation

The Group will apply the option to continue hedge accounting under AASB 139, however will implement the amended AASB7 Financial Instruments: Disclosure (AASB7) hedge accounting disclosures as required.

Transition

The impairment and classification and measurement requirements of AASB 9 will be applied retrospectively by adjusting the opening balance sheet at the date of initial application, 1 October 2018, with no restatement of comparatives as permitted by the standard. However, detailed transitional disclosures will be provided in accordance with the amended requirements of AASB 7.

AASB 15 Revenue from Contracts with Customers (AASB 15) was issued on 28 May 2014 and will be effective from 1 October 2018. The standard replaces AASB 118 Revenue and related interpretations, and applies to all contracts with customers, except leases, financial instruments and insurance contracts. The standard provides a systematic approach to revenue recognition by introducing a five-step model governing revenue measurement and recognition. This includes:

§ identifying the contract with customer;

§ identifying each of the performance obligations included in the contract;

§ determining the amount of consideration in the contract;

§ allocating the consideration to each of the identified performance obligations; and

§ recognising revenue as each performance obligation is satisfied.

The Group will elect to apply AASB 15 retrospectively by adjusting the opening balance of retained earnings at the date of initial application, 1 October 2018, with no comparatives restatement.

The Group has assessed the revenue streams existing at transition. Based on this assessment, the primary impacts from the adoption of AASB 15 are expected to be a grossing up of some income and expenses which are currently reported on a net basis. In addition, certain facility fees will be reclassified from non-interest income to interest income. These presentation changes will not have a material impact on the Group’s net profit, retained earnings or capital position.

AASB 16 Leases (AASB 16) was issued on 24 February 2016 and will be effective for the 30 September 2020 financial year. The standard will not result in significant changes for lessor accounting. The main changes under the standard are:

§ all operating leases of greater than 12 months duration will be required to be presented on balance sheet by the lessee as a right-of-use asset and lease liability. The asset and liability will initially be measured at the present value of non-cancellable lease payments and payments to be made in optional periods where it is reasonably certain that the option will be exercised. Details of the Group’s lease obligations are included in Note 30; and

§ all leases on balance sheet will give rise to a combination of interest expense on the lease liability and depreciation of the right-of-use asset.

Alternative methods of calculating the right-of-use asset are allowed under AASB 16 which impact the size of the transition adjustment. The Group is still evaluating which transition method to apply.

Current project implementation efforts are focused on the review and evaluation of contracts within scope of the standard.

AASB 17 Insurance Contracts (AASB 17) was issued on 19 July 2017 and will be effective for the 30 September 2022 year end unless early adopted. This will replace AASB 4 Insurance Contracts, AASB 1023 General Insurance Contracts and AASB 1038 Life Insurance Contracts. The main changes under the standard are:

§ the scope of the standard may result in some contracts that are currently “unbundled”, i.e. accounted for separately as insurance and investment contracts being required to be “bundled” and accounted for as an insurance contract;

§ portfolios of contracts (with similar risks which are managed together) will be required to be disaggregated to a more granular level by both the age of a contract and the likelihood of the contract being onerous in order to determine the recognition of profit over the contract period (i.e. the contractual service margin). The contractual service margin uses a different basis to recognise profit to the current Margin on Services approach for life insurance and therefore the pattern of profit recognition is likely to differ;

§ risk adjustments, which reflect uncertainties in the amount and timing of future cash flows, are required for both general and life insurance contracts rather than just general insurance contracts under the current accounting standards;

§ the contract boundary, which is the period over which profit is recognised, differs and is determined based on the ability to compel the policyholder to pay premiums or the substantive obligation to provide coverage/services. For some general insurance contracts (e.g. some lender mortgage insurance and reinsurance contracts) this may result in the contract boundary being longer. For life insurance, in particular term renewable contracts, the contract boundary is expected to be shorter. Both will be impacted by different patterns of profit recognition compared to the current standards;

§ a narrower definition of what acquisition costs may be deferred;

§ an election to recognise changes in assumptions regarding discount rate in other comprehensive income rather than in profit and loss;

§ an election to recognise changes in the fair value of assets supporting policy liabilities in other comprehensive income rather than through profit and loss;

§ reinsurance contracts and the associated liability are to be determined separately to the gross contract liability and may have different contract boundaries; and

§ additional disclosure requirements.

The standard is expected to result in a reduction in the level of deferred acquisition costs, however the quantum of this and the profit and loss impacts to the Group are not yet practicable to determine.

Financial Assets and Financial Liabilities

FINANCIAL ASSETS AND FINANCIAL LIABILITIES

Accounting policy

Recognition

Purchases and sales of regular way financial assets, except for loans and receivables, are recognised on trade-date; the date on which the Group commits to purchase or sell the asset. Loans and receivables are recognised on settlement date, when cash is advanced to the borrowers.

Financial liabilities are recognised when an obligation arises.

Classification and measurement

The Group classifies its financial assets in the following categories: cash and balances with central banks, receivables due from financial institutions, trading securities and financial assets designated at fair value, derivative financial instruments, available-for-sale securities, loans, life insurance assets and regulatory deposits with central banks overseas. The Group has not classified any of its financial assets as held-to-maturity investments.

The Group classifies significant financial liabilities in the following categories: payables due to other financial institutions, deposits and other borrowings, other financial liabilities at fair value through income statement, derivative financial instruments, debt issues and loan capital.

Financial assets and financial liabilities measured at fair value through income statement are recognised initially at fair value. All other financial assets and financial liabilities are recognised initially at fair value plus directly attributable transaction costs.

The accounting policy for each category of financial asset or financial liability mentioned above is set out in the note for the relevant item.

The Group’s policies for determining the fair value of financial assets and financial liabilities are set out in Note 23.

Derecognition

Financial assets are derecognised when the rights to receive cash flows from the asset have expired, or when the Group has either transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full under a ‘pass through’ arrangement and transferred substantially all the risks and rewards of ownership.

There may be situations where the Group has partially transferred the risks and rewards of ownership but has neither transferred nor retained substantially all the risks and rewards of ownership. In such situations, the asset continues to be recognised on the balance sheet to the extent of the Group’s continuing involvement in the asset.

Financial liabilities are derecognised when the obligation is discharged, cancelled or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, the exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, with the difference in the respective carrying amounts recognised in the income statement.

Segment reporting

Operating segments are presented on a basis consistent with information provided internally to Westpac’s key decision makers and reflects the management of the business, rather than the legal structure of the Group. Internally, Westpac uses ‘cash earnings’ in assessing the financial performance of its divisions. Management believes this allows the Group to:
§	more effectively assess current year performance against prior years;
§	compare performance across business divisions; and
§	compare performance across peer companies.
Cash earnings is viewed as a measure of the level of profit that is generated by ongoing operations and is therefore considered in assessing distributions, including dividends. Cash earnings is neither a measure of cash flow nor net profit determined on a cash accounting basis, as it includes both cash and non-cash adjustments to statutory net profit. To determine cash earnings, three categories of adjustments are made to statutory results:
§	material items that key decision makers at the Westpac Group believe do not reflect ongoing operations;
§	items that are not considered when dividends are recommended, such as the amortisation of intangibles, impact of Treasury shares and economic hedging; and
§	accounting reclassifications between individual line items that do not impact statutory results.
Internal charges and transfer pricing adjustments have been reflected in the performance of each operating segment. Inter-segment pricing is determined on an arm’s length basis.

Net interest income

Interest income and expense for all interest earning financial assets and interest bearing financial liabilities, detailed within the table below, are recognised using the effective interest rate method. Net income from treasury’s interest rate and liquidity management activities and the cost of the Bank levy are included in net interest income.

The effective interest rate method calculates the amortised cost of a financial instrument by discounting the financial instrument’s estimated future cash receipts or payments to their present value and allocates the interest income or interest expense, including any fees, costs, premiums or discounts integral to the instrument, over its expected life.

Non-interest income

Fees and commissions Fees and commission income are recognised as follows:
§	facility fees are primarily earned for the provision of credit and other facilities to customers and are recognised as the services are provided;
§	transaction fees are earned for facilitating transactions and are recognised once the transaction is executed;
§	other non-risk fee income includes advisory and underwriting fees which are recognised when the related service is completed.
Income which forms an integral part of the effective interest rate of a financial instrument is recognised using the effective interest method and recorded in interest income (for example, loan origination fees). Funds management income Funds management fees earned for the ongoing management of customer funds and investments are recognised over the period of management. Premium income Premium income includes premiums earned for life insurance, life investment and general insurance products:
§	life insurance premiums with a regular due date are recognised as revenue on an accrual basis. Premiums with no due date are recognised on a cash received basis;
§	life investment premiums include a management fee component which is recognised as funds management income over the period the service is provided. The deposit components of life insurance and investment contracts are not revenue and are treated as movements in life insurance policy liabilities;
§	general insurance premium comprises amounts charged to policyholders, excluding taxes, and is recognised based on the likely pattern in which the insured risk is likely to emerge. The portion not yet earned based on the pattern assessment is recognised as unearned premium liability
Claims expense
§	life and general insurance contract claims are recognised as an expense when the liability is established;
§	claims incurred in respect of life investment contracts represent withdrawals and are recognised as a reduction in life insurance liabilities.
Trading income
§	realised and unrealised gains or losses from changes in the fair value of trading assets, liabilities and derivatives are recognised in the period in which they arise (except day one profits or losses which are deferred, refer to Note 23);
§	dividend income on the trading portfolio is recorded as part of trading income;
§	net income related to Treasury’s interest rate and liquidity management activities is included in net interest income.
Dividend income
§	dividends on quoted shares are recognised on the ex-dividend date;
§	dividends on unquoted shares are recognised when the company’s right to receive payment is established.

Impairment charges

At each balance sheet date, the Group assesses whether there is any objective evidence of impairment of its loan portfolio. An impairment charge is recognised if there is objective evidence that the principal or interest repayments may not be recoverable and when the financial impact of the non-recoverable loan can be reliably measured.

Objective evidence of impairment could include a breach of contract with the Group such as a default on interest or principal payments, a borrower experiencing significant financial difficulties or observable economic conditions that correlate to defaults on a group of loans.

The impairment charge is measured as the difference between the loan’s current carrying amount and the present value of its estimated future cash flows. The estimated future cash flows exclude any expected future credit losses which have not yet occurred and are discounted to their present value using the loan’s original effective interest rate. If a loan has a variable interest rate, the discount rate for measuring any impairment is the current effective interest rate.

The impairment charge is recognised in the income statement with a corresponding reduction of the carrying value of the loan through an offsetting provision account (refer to Note 14).

In subsequent periods, objective evidence may indicate that an impairment charge should be reversed. Objective evidence could include a borrower’s credit rating or financial circumstances improving. The impairment charge is reversed in the income statement of that future period and the related provision for impairment is reduced.

Uncollectable loans

A loan may become uncollectable in full or part if, after following the Group’s loan recovery procedures, the Group remains unable to collect that loan’s contractual repayments. Uncollectable amounts are written off against their related provision for impairment, after all possible repayments have been received.

The Group may subsequently be able to recover cash flows from loans written off. In the period which these recoveries are made, they are recognised in the income statement.

Critical accounting assumptions and estimates relating to impairment charges are included in Note 14.

Income tax

The tax expense for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised directly in other comprehensive income, in which case it is recognised in the statement of other comprehensive income. Current tax is the tax payable for the year using enacted or substantively enacted tax rates and laws for each jurisdiction. Current tax also includes adjustments to tax payable for previous years. Deferred tax accounts for temporary differences between the carrying amounts of assets and liabilities in the financial statements and their values for taxation purposes. Deferred tax is determined using the enacted or substantively enacted tax rates and laws for each jurisdiction which are expected to apply when the assets will be realised or the liabilities settled. Deferred tax assets and liabilities have been offset where they relate to the same taxation authority, the same taxable entity or group, and where there is a legal right and intention to settle on a net basis. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available to utilise the assets. Deferred tax is not recognised for the following temporary differences:
§	the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither the accounting nor taxable profit or loss;
§	the initial recognition of goodwill in a business combination;
§	retained earnings in subsidiaries which the Parent Entity does not intend to distribute for the foreseeable future.
The Parent Entity is the head entity of a tax consolidated group with its wholly owned, Australian subsidiaries. All entities in the tax consolidated group have entered into a tax sharing agreement which, in the opinion of the Directors, limits the joint and several liabilities in the case of a default by the Parent Entity. Tax expense and income deferred tax balances arising from temporary differences are recognised using a ‘group allocation basis’. As head entity, the Parent Entity recognises all current tax balances and deferred tax assets arising from unused tax losses and relevant tax credits for the tax-consolidated group. The Parent Entity fully compensates/is compensated by the other members for these balances. Critical accounting assumptions and estimates The Group operates in multiple tax jurisdictions and significant judgement is required in determining the worldwide current tax liability. There are many transactions with uncertain tax outcomes and provisions are held to reflect these tax uncertainties.

Earnings per share

Basic earnings per share (EPS) is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares on issue during the year, adjusted for treasury shares. Diluted EPS is calculated by adjusting the basic earnings per share by assuming all dilutive potential ordinary shares (share based payments – Note 37 and convertible loan capital – Note 20) are converted.

Receivables due from other financial institutions

Receivables due from other financial institutions are recognised initially at fair value and subsequently at amortised cost using the effective interest rate method.

Trading securities and financial assets designated at fair value

Trading securities

Trading securities include actively traded debt (government and other) and equity instruments and those acquired for sale in the near term.

As part of its trading activities, the Group also lends and borrows securities on a collateralised basis. Securities lent remain on the Group’s balance sheet and securities borrowed are not reflected on the Group’s balance sheet, as the risk and rewards of ownership remain with the initial holder. Where cash is provided as collateral, the amount advanced to or received from third parties is recognised as a receivable in other assets (Note 27) or as a borrowing in other liabilities (Note 29) respectively.

Gains and losses on trading securities are recognised in the income statement. Interest received from government and other debt securities is recognised in net interest income (Note 3) and dividends on equity securities are recognised in non-interest income (Note 4).

Securities purchased under agreements to resell (‘reverse repos’)

Securities purchased under agreements to resell are not recognised on the balance sheet as Westpac has not obtained the risks and rewards of ownership. The cash consideration paid is recognised as an asset. Reverse repos which are part of a trading portfolio are designated at fair value. Gains and losses on these financial assets are recognised in non-interest income.  Interest received under these agreements is recognised in interest income.

Other financial assets designated at fair value

Other financial assets designated at fair value either: contain an embedded derivative; are managed on a fair value basis, or are held at fair value to reduce or eliminate an accounting mismatch. Gains and losses on these financial assets are recognised as non-interest income. Interest received from these other financial assets is recognised in interest income.

A portfolio of fixed rate bills designated at fair value to reduce an accounting mismatch have, due to their nature, been presented in loans (Note 13).

Available-for-sale securities

Available-for-sale debt (government and other) and equity securities are held at fair value with gains and losses recognised in other comprehensive income except for the following amounts recognised in the income statement:
§	interest on debt securities;
§	dividends on equity securities; and
§	impairment charges.
The cumulative gain or loss recognised in other comprehensive income is subsequently recognised in the income statement when the instrument is disposed. At each reporting date, the Group assesses whether any available-for-sale securities are impaired. Impairment exists if one or more events have occurred which have a negative impact on the security’s estimated cash flows. For debt instruments, evidence of impairment includes significant financial difficulties or adverse changes in the payment status of an issuer. For equity securities, a significant or prolonged decline in the fair value of the security below its cost is considered evidence of impairment. If impairment exists, the cumulative loss is removed from other comprehensive income and recognised in the income statement. Any subsequent reversals of impairment on debt securities are also recognised in the income statement. Subsequent reversal of impairment charges on equity instruments is not recognised in the income statement until the instrument is disposed.

Loans

Loans are financial assets initially recognised at fair value plus directly attributable transaction costs and fees. Except for a portfolio of fixed rate bills (see below), loans are subsequently measured at amortised cost using the effective interest rate method and are presented net of any provisions for impairment.

Loan products that have both mortgage and deposit facilities are presented gross on the balance sheet, segregating the asset and liability component, because they do not meet the criteria to be offset. Interest earned on these products is presented on a net basis in the income statement as this reflects how the customer is charged.

Finance leases, where the Group acts as lessor, are also included within loans. These are leases where substantially all the risks and rewards of the leased asset have been transferred to the lessee. Finance income is recognised on a basis reflecting a constant rate of return on the net investment in the finance lease. The net investment of a finance lease is the present value of future cash flows on the lease. Gross future cash flows are discounted using the interest rate implicit in the lease to determine their present value.

Provisions for impairment charges

The Group recognises two types of impairment provisions for its loans, being provisions for loans which are:
§	individually assessed for impairment; and
§	collectively assessed for impairment.
Note 6 explains how impairment charges are determined. The Group assesses impairment as follows:
§	individually for loans that exceed specified thresholds. Where there is objective evidence of impairment, individually assessed provisions will be recognised; and
§	collectively for loans below the specified thresholds noted above or if there is no objective evidence of impairment. These loans are included in a group of loans with similar risk characteristics and collectively assessed for impairment. If there is objective evidence that the group of loans is collectively impaired, collectively assessed provisions will be recognised.
Critical accounting assumptions and estimates The methodology and assumptions used for estimating future cash flows are reviewed regularly by the Group to reduce differences between impairment provisions and actual loss experience. Individual component Key judgements include the business prospects for the customer, the realisable value of collateral, the Group’s position relative to other claimants, the reliability of customer information and the likely cost and duration of recovering the loan. Judgements can change with time as new information becomes available or as loan recovery strategies evolve, which may result in revisions to the impairment provision. Collective component Collective provisions are established on a portfolio basis taking into account the level of arrears, collateral and security, past loss experience, current economic conditions, expected default and timing of recovery based on portfolio trends. Key judgements include estimated loss rates and their related emergence periods. The emergence period for each loan type is determined through studies of loss emergence patterns. Loan files are reviewed to identify the average time period between observable loss indicator events and the loss becoming identifiable. Actual credit losses may differ materially from reported loan impairment provisions due to uncertainties including interest rates and their effect on consumer spending, unemployment levels, payment behaviour and bankruptcy rates.

Life insurance assets and life insurance liabilities

The Group conducts its life insurance business in Australia primarily through Westpac Life Insurance Services Limited and separate statutory funds registered under the Life Insurance Act 1995 (Life Act) and in New Zealand through Westpac Life-NZ-Limited which are separate statutory funds licensed under the Insurance (Prudential Supervision) Act 2010. Life insurance assets Life insurance assets, including investments in funds managed by the Group, are designated at fair value through income statement. Changes in fair value are recognised in non-interest income. The determination of fair value of life insurance assets involves the same judgements as other financial assets, which are described in the critical accounting assumptions and estimates in Note 23. The Life Act places restrictions on life insurance assets, including that they can only be used:
§	to meet the liabilities and expenses of that statutory fund;
§	to acquire investments to further the business of the statutory fund; or
§	as a distribution, when the statutory fund has met its solvency and capital adequacy requirements.
Life insurance liabilities Life insurance liabilities primarily consist of life investment contract liabilities and life insurance contract liabilities. Claims incurred in respect of life investment contracts are withdrawals of customer deposits, and are recognised as a reduction in life insurance liabilities. Life investment contract liabilities Life investment contract liabilities are designated at fair value through income statement. Fair value is the higher of the valuation of life insurance assets linked to the life investment contract, or the minimum current surrender value (the minimum amount the Group would pay to a policyholder if their policy is voluntarily terminated before it matures or the insured event occurs). Changes in fair value are recognised in non-interest income.

Life insurance contract liabilities The value of life insurance contract liabilities is calculated using the margin on services methodology (MoS), specified in the Prudential Standard LPS 340 Valuation of Policy Liabilities. MoS accounts for the associated risks and uncertainties of each type of life insurance contract written. At each reporting date, planned profit margins and an estimate of future liabilities are calculated. Profit margins are released to non-interest income over the period that life insurance is provided to policyholders (Note 4). The cost incurred in acquiring specific insurance contracts is deferred provided that these amounts are recoverable out of planned profit margins. The deferred amounts are recognised as a reduction in life insurance policy liabilities and are amortised to non-interest income over the same period as the planned profit margins. External unit holder liabilities of managed investment schemes The life insurance statutory funds include controlling interests in managed investment schemes which are consolidated. When the managed investment scheme is consolidated, the external unit holder liabilities are recognised as a liability and included in life insurance liabilities. They are designated at fair value through income statement. Critical accounting assumptions and estimates The key factors that affect the estimation of life insurance liabilities and related assets are:
§	the cost of providing benefits and administering contracts;
§	mortality and morbidity experience, which includes policyholder benefits enhancements;
§	discontinuance rates, which affects the Group’s ability to recover the cost of acquiring new business over the life of the contracts; and
§	the discount rate of projected future cash flows.
Regulation, competition, interest rates, taxes, securities market conditions and general economic conditions also affect the estimation of life insurance liabilities.

Payables due to other financial institutions

Payables due to other financial institutions are recognised initially at fair value and subsequently at amortised cost using the effective interest rate method.

Security repurchase agreements

Where securities are sold subject to an agreement to repurchase at a predetermined price, they remain recognised on the balance sheet in their original category (i.e. ‘Trading securities’ or ‘Available-for-sale’).

The cash consideration received is recognised as a liability (‘Security repurchase agreements’). Security repurchase agreements are designated at fair value and recognised as part of ‘Other financial liabilities at fair value through income statement’ (refer to Note 18) where they are managed as part of a trading portfolio; otherwise they are measured on an amortised cost basis and recognised in ‘Payables due to other financial institutions’.

Deposits and other borrowings

Deposits and other borrowings are initially recognised at fair value and subsequently either measured at amortised cost using the effective interest rate method or at fair value.

Deposits and other borrowings are designated at fair value if they are managed on a fair value basis, reduce or eliminate an accounting mismatch or contain an embedded derivative.

Where they are measured at fair value, any changes in fair value (except those due to changes in credit risk) are recognised as non-interest income. The change in the fair value that is due to changes in credit risk is recognised in other comprehensive income except where it would create an accounting mismatch, in which case it is also recognised in the income statement.

Interest expense incurred is recognised in net interest income using the effective interest rate method.

Other financial liabilities at fair value through income statement

Other financial liabilities at fair value through income statement include trading securities sold short and security repurchase agreements which have been designated at fair value at initial recognition.

The accounting policy for security repurchase agreements is consistent with that detailed in Note 16.

Securities sold short reflect the obligation to deliver securities to a buyer for the sale of securities Westpac does not own at the time of sale but that are promised to be delivered to the buyer. Securities delivered to the buyer are usually borrowed and/or subsequently purchased.

Subsequent to initial recognition, these liabilities are measured at fair value with changes in fair value (except credit risk) recognised through the income statement as they arise. The change in fair value that is attributable to credit risk is recognised in other comprehensive income except where it would create an accounting mismatch, in which case it is also recognised through the income statement.

Interest expense is recognised in net interest income using the effective interest rate method.

Debt issues

Debt issues are bonds, notes, commercial paper and debentures that have been issued by entities in the Group. Debt issues also include acceptances which are bills of exchange initially accepted and discounted by the Group that have been subsequently rediscounted into the market. Bill financing provided to customers by accepting and discounting of bills of exchange is reported as part of loans.

Debt issues are initially measured at fair value and subsequently either measured at amortised cost using the effective interest rate method or at fair value.

Debt issues are designated at fair value if they reduce or eliminate an accounting mismatch or contain an embedded derivative.

They are measured at fair value with changes in fair value (except those due to changes in credit risk) recognised as non-interest income.

The change in the fair value that is due to credit risk is recognised in other comprehensive income except where it would create an accounting mismatch, in which case it is also recognised in the income statement.

Interest expense incurred is recognised within net interest income using the effective interest rate method.

Loan Capital

Loan capital are instruments issued by the Group which qualify for inclusion as regulatory capital under Australian Prudential Regulation Authority (APRA) Prudential Standards. Loan capital is initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method. Interest expense incurred is recognised in net interest income.

Derivative financial instruments

Derivative financial instruments are instruments whose values derive from the value of an underlying asset, reference rate or index and include forwards, futures, swaps and options.

All derivatives are held at fair value. Changes in fair value are recognised in the income statement, unless designated in a cash flow or net investment hedge relationship. Derivatives are presented as an asset where they have a positive fair value at balance date or as a liability where the fair value at balance date is negative.

The Group uses derivative instruments for trading and also as part of its asset and liability risk management activities, which are discussed in Note 22. Derivatives used for risk management activities include designating derivatives into one of three hedge accounting relationships: fair value hedge; cash flow hedge; or hedge of a net investment in a foreign operation, where permitted under AASB 139. These hedge designations and associated accounting treatment are as follows:

Fair value hedges

Fair value hedges hedge the exposure to changes in the fair value of an asset or liability.

Changes in the fair value of derivatives and the hedged asset or liability in fair value hedges are recognised in interest income. The carrying value of the hedged asset or liability is adjusted for the changes in fair value related to the hedged risk.

If a hedge is discontinued, any fair value adjustments to the carrying value of the asset or liability are amortised to interest income over the period to maturity. If the asset or liability is sold, any unamortised adjustment is immediately recognised in interest income.

Cash flow hedges

Cash flow hedges hedge the exposure to variability of cash flows attributable to an asset, liability or future forecast transaction.

For effective hedges, changes in the fair value of derivatives are recognised in the cash flow hedge reserve through other comprehensive income and subsequently recognised in interest income when the asset or liability that was hedged impacts the income statement.

For hedges with some ineffectiveness, the changes in the fair value of the derivatives relating to the ineffective portion are immediately recognised in interest income.

If a hedge is discontinued, any cumulative gain or loss remains in other comprehensive income. It is amortised to interest income over the period which the asset or liability that was hedged also impacts the income statement.

If a hedge of a forecast transaction is no longer expected to occur, any cumulative gain or loss in other comprehensive income is immediately recognised in interest income.

Net investment hedges

Net investment hedges hedge foreign currency risks arising from a net investment of a foreign operation.

For effective hedges, changes in the fair value of derivatives are recognised in the foreign currency translation reserve through other comprehensive income.

For hedges with some ineffectiveness, the changes in the fair value of the derivatives relating to the ineffective portion are immediately recognised in non-interest income.

If a foreign operation is disposed of, any cumulative gain or loss in other comprehensive income is immediately recognised in non-interest income.

Fair values of financial assets and financial liabilities

The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. On initial recognition, the transaction price generally represents the fair value of the financial instrument unless there is observable information from an active market to the contrary. Where unobservable information is used, the difference between the transaction price and the fair value (day one profit or loss) is recognised in the income statement over the life of the instrument when the inputs become observable. Critical accounting assumptions and estimates The majority of valuation models used by the Group employ only observable market data as inputs. However, for certain financial instruments data may be employed which is not readily observable in current markets. The availability of observable inputs is influenced by factors such as:
§	product type;
§	depth of market activity;
§	maturity of market models; and
§	complexity of the transaction.
Where unobservable market data is used, more judgement is required to determine fair value. The significance of these judgements depends on the significance of the unobservable input to the overall valuation. Unobservable inputs are generally derived from other relevant market data and adjusted against:
§	standard industry practice;
§	economic models; and
§	observed transaction prices.
In order to determine a reliable fair value for a financial instrument, management may apply adjustments to the techniques previously described. These adjustments reflect the Group’s assessment of factors that market participants would consider in setting the fair value. These adjustments incorporate bid/offer spreads, credit valuation adjustments and funding valuation adjustments.

Offsetting financial assets and financial liabilities

Financial assets and liabilities are presented net in the balance sheet when the Group has a legally enforceable right to offset them in all circumstances and there is an intention to settle the asset and liability on a net basis, or to realise the asset and settle the liability simultaneously. The gross assets and liabilities behind the net amounts reported in the balance sheet are disclosed in the table below.

Intangible assets

Indefinite life intangible assets Goodwill Goodwill acquired in a business combination is initially measured at cost, generally being the excess of: i)the consideration paid; over ii)the net fair value of the identifiable assets, liabilities and contingent liabilities acquired. Subsequently, goodwill is not amortised but rather tested for impairment. Impairment is tested at least annually or whenever there is an indication of impairment.  An impairment charge is recognised when a cash generating unit’s (CGU) carrying value exceeds its recoverable amount. Recoverable amount means the higher of the CGU’s fair value less costs to sell and its value-in-use. Brand names Brand names acquired in a business combination including St.George, BT, BankSA and RAMS, are recognised at cost. Subsequently brand names are not amortised but tested for impairment at least annually or whenever there is an indication of impairment. Finite life intangible assets Finite life intangibles including computer software and core deposits, are recognised initially at cost and subsequently at amortised cost less any impairment.
Intangible	Useful life	Depreciation method
Goodwill	Indefinite	Not applicable
Brand names	Indefinite	Not applicable
Computer software	3 to 10 years	Straight-line or the diminishing balance method (using the Sum of the Years Digits)
Core deposit intangibles	9 years	Straight-line
Critical accounting assumptions and estimates Judgement is required in determining the fair value of assets and liabilities acquired in a business combination. A different assessment of fair values would have resulted in a different goodwill balance and different post-acquisition performance of the acquired entity. When assessing impairment of intangible assets, significant judgement is needed to determine the appropriate cash flows and discount rates to be applied to the calculations. The significant assumptions applied to the value-in-use calculations are outlined below.

Provisions

Provisions are recognised for present obligations arising from past events where a payment (or other economic transfer) is likely to be necessary to settle the obligation and can be reliably estimated.

Employee benefits – long service leave

Long service leave must be granted to employees in Australia and New Zealand. The provision is calculated based on the expected payments. When payments are expected to be more than one year in the future, the payments factor in expected employee service periods and average salary increases which are then discounted.

Employee benefits – annual leave and other employee benefits

The provision for annual leave and other employee benefits (including wages and salaries, inclusive of non-monetary benefits, and any associated on-costs (e.g. payroll tax)) is calculated based on expected payments.

Provision for impairment on credit commitments

The Group is committed to provide facilities and guarantees as explained in Note 31. If it is probable that a facility will be drawn and the resulting asset will be less than the drawn amount then a provision for impairment is recognised. The provision for impairment is calculated using the same methodology as the provision for impairment charges on loans (refer to Note 14).

Compliance, Regulation and Remediation provisions

The compliance, regulation and remediation provisions relate to matters of potential misconduct in providing services to our customers identified both as a result of regulatory action and internal reviews. An assessment of the likely cost to the Group of these matters (including applicable customer refunds) is made on a case-by-case basis and specific provisions are made where appropriate.

Further information on regulatory action and internal reviews is included in the contingent liabilities section of Note 31.

Critical accounting assumptions and estimates

The financial reporting of provisions for litigation and non-lending losses and for compliance, regulation and remediation matters involves a significant degree of judgement in relation to identifying whether a present obligation exists and also in estimating the probability, timing, nature and quantum of the outflows that may arise from past events. These judgments are made based on the specific facts and circumstances relating to individual events.

Payments that are expected to be incurred after more than one year are discounted at a rate which reflects both current interest rates and the risks specific to that provision.

Provisions carried for long service leave are supported by an independent actuarial report.

Contingent liabilities, contingent assets and credit commitments

Undrawn credit commitments

The Group enters into various arrangements with customers which are only recognised in the balance sheet when called upon.  These arrangements include commitments to extend credit, bill endorsements, financial guarantees, standby letters of credit and underwriting facilities.

Contingent assets

Contingent assets are possible assets whose existence will be confirmed only by uncertain future events. Contingent assets are not recognised on the balance sheet but are disclosed if an inflow of economic benefits is probable.

Contingent liabilities

Contingent liabilities are possible obligations whose existence will be confirmed only by uncertain future events, and present obligations where the transfer of economic resources is not probable or cannot be reliably measured. Contingent liabilities are not recognised on the balance sheet but are disclosed unless the outflow of economic resources is remote.

Shareholders' equity

Share capital

Ordinary shares are recognised at the amount paid up per ordinary share net of directly attributable issue costs. Treasury shares are shares in the Parent Entity, purchased by the Parent Entity or other entities within the Group. These shares are adjusted against share capital as the net of the consideration paid to purchase the shares and, where applicable, any consideration received from the subsequent sale or reissue of these shares.

Non-controlling interests

Non-controlling interests represent the share in the net assets of subsidiaries attributable to equity interests that are not owned directly or indirectly by the Parent Entity.

Reserves

Foreign currency translation reserve

Exchange differences arising on translation of the Group’s foreign operations, any offsetting gains or losses on hedging the net investment and any associated tax effect are reflected in the foreign currency translation reserve. A cumulative credit balance in this reserve would not normally be regarded as being available for payment of dividends until such gains are realised and recognised in the income statement on sale or disposal of the foreign operation.

Available-for-sale securities reserve

This comprises the changes in the fair value of available-for-sale financial securities, net of any related hedge accounting adjustments and tax. These changes are transferred to non-interest income in the income statement when the asset is either disposed of or impaired.

Cash flow hedging reserve

This comprises the fair value gains and losses associated with the effective portion of designated cash flow hedging instruments, net of tax.

Share-based payment reserve

This comprises the fair value of equity-settled share-based payments recognised as an expense.

Other reserves

Other reserves for the Parent Entity relates to certain historic internal group restructurings performed at fair value. The reserve is eliminated on consolidation.

Other reserves for the Group consist of transactions relating to changes in the Parent Entity’s ownership of a subsidiary that do not result in a loss of control.

The amount recorded in other reserves reflects the difference between the amount by which non-controlling interests are adjusted and the fair value of any consideration paid or received.

Investments in subsidiaries and associates

Subsidiaries

Westpac’s subsidiaries are entities which it controls and consolidates as it is exposed to, or has rights to, variable returns from the entity, and can affect those returns through its power over the entity.

When the Group ceases to control a subsidiary, any retained interest in the entity is remeasured to fair value, with any resulting gain or loss recognised in the income statement.

Changes in the Group’s ownership interest in a subsidiary which do not result in a loss of control are accounted for as transactions with equity holders in their capacity as equity holders.

In the Parent Entity’s financial statements, investments in subsidiaries are initially recorded at cost and are subsequently held at the lower of cost and recoverable amount.

All transactions between Group entities are eliminated on consolidation.

Associates

Associates are entities in which the Group has significant influence, but not control, over the operating and financial policies. The Group accounts for associates using the equity method. The investments are initially recognised at cost (except where recognised at fair value due to a loss of control of a subsidiary), and increased (or decreased) each year by the Group’s share of the associate’s profit (or loss). Dividends received from the associate reduce the investment in associate.

Structured entities

Structured entities are generally created to achieve a specific, defined objective and their operations are restricted such as only purchasing specific assets. Structured entities are commonly financed by debt or equity securities that are collateralised by and/or indexed to their underlying assets. The debt and equity securities issued by structured entities may include tranches with varying levels of subordination.

Structured entities are classified as subsidiaries and consolidated if they meet the definition in Note 35. If the Group does not control a structured entity then it will not be consolidated.

Share-based payments

The Group enters into various share-based payment arrangements with its employees as a component of overall compensation for services provided. Share-based payment arrangements comprise options to purchase shares at a pre-determined price (share options), rights to receive shares for free (share rights) and restricted shares (issued at no cost). Share-based payment arrangements typically require a specified period of continuing employment (the service period or vesting period) and may include performance targets (vesting conditions). Specific details of each arrangement are provided below.

Share-based payments must be classified as either cash-settled or equity-settled arrangements. The Group’s significant arrangements are equity-settled, as the Group is not obliged to settle in cash.

Options and share rights

Options and share rights are equity-settled arrangements. The fair value is measured at grant date and is recognised as an expense over the service period, with a corresponding increase in the share-based payment reserve in equity.

The fair value of share options and share rights is estimated at grant date using a binomial/Monte Carlo simulation pricing model which incorporates the vesting and market-related performance targets of the grants. The fair value of share options and rights excludes non-market vesting conditions such as employees’ continuing employment by the Group. The non-market vesting conditions are instead incorporated in estimating the number of share options and rights that are expected to vest and are therefore recognised as an expense. At each reporting date the non-market vesting assumptions are revised and the expense recognised each year takes into account the most recent estimates. The market-related assumptions are not revised each year as the fair value is not re-estimated after the grant date.

Restricted share plan (RSP)

The RSP is accounted for as an equity-settled arrangement.  The fair value of shares allocated to employees for nil consideration is recognised as an expense over the vesting period with a corresponding increase in the share-based payments reserve in equity. The fair value of ordinary shares issued to satisfy the obligation to employees is measured at grant date and is recognised as a separate component of equity.

Employee share plan (ESP)

The value of shares expected to be allocated to employees for nil consideration is recognised as an expense over the financial year and provided for as other employee benefits.  The fair value of any ordinary shares issued to satisfy the obligation to employees is recognised in equity.  Alternatively, shares may be purchased on market to satisfy the obligation to employees.

Superannuation commitments

The Group recognises an asset or a liability for its defined benefit schemes, being the net of the defined benefit obligations and the fair value of the schemes’ assets. The defined benefit obligation is calculated as the present value of the estimated future cash flows, discounted using high-quality long dated corporate bond rates.

The superannuation expense is recognised in operating expenses and remeasurements are recognised through other comprehensive income.

Critical accounting assumptions and estimates

The actuarial valuation of plan obligations is dependent upon a series of assumptions, principally price inflation, salary growth, mortality, morbidity, discount rate and investment returns. Different assumptions could significantly alter the valuation of the plan assets and obligations and the superannuation cost recognised in the income statement.

Notes to the cash flow statements

Cash and cash equivalents includes cash held at branches and in ATMs, balances with overseas banks in their local currency and balances with central banks including accounts with the RBA and accounts with overseas central banks.

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Segment reporting (Tables)

12 Months Ended

Sep. 30, 2018

Segment reporting

Schedule of segment results on a cash earnings basis

The following tables present the segment results on a cash earnings basis for the Group:1

2018			BT
			Financial	Westpac	Westpac			Net cash
	Consumer	Business	Group	Institutional	New	Group		earnings	Income
$m	Bank	Bank	(Australia)	Bank	Zealand	Businesses	Total	adjustment	Statement
Net interest income	7,748	4,065	578	1,416	1,720	812	16,339	166	16,505
Non-interest income	746	1,189	1,648	1,556	438	35	5,612	16	5,628
Net operating income before operating expenses and impairment charges	8,494	5,254	2,226	2,972	2,158	847	21,951	182	22,133
Operating expenses	(3,542)	(1,876)	(1,291)	(1,446)	(860)	(571)	(9,586)	(106)	(9,692)
Impairment (charges)/benefits	(451)	(291)	(6)	38	(2)	2	(710)	-	(710)
Profit before income tax	4,501	3,087	929	1,564	1,296	278	11,655	76	11,731
Income tax expense	(1,361)	(928)	(284)	(473)	(362)	(178)	(3,586)	(46)	(3,632)
Net profit attributable to non-controlling interests	-	-	-	(5)	-	1	(4)	-	(4)
Cash earnings for the year	3,140	2,159	645	1,086	934	101	8,065	30	8,095
Net cash earnings adjustments	(15)	(2)	(73)	-	13	107	30
Net profit attributable to owners of Westpac Banking Corporation	3,125	2,157	572	1,086	947	208	8,095
Additional information
Depreciation, amortisation and impairments	(173)	(71)	(78)	(274)	(81)	(467)	(1,144)
Balance Sheet
Total assets	392,495	156,523	34,923	102,380	82,424	110,847	879,592
Total liabilities	212,472	114,137	42,500	126,620	72,078	247,212	815,019
Additions of property and
equipment and intangible assets	363	94	96	88	99	452	1,192

2017			BT
			Financial	Westpac	Westpac			Net cash
	Consumer	Business	Group	Institutional	New	Group		earnings	Income
$m	Bank	Bank	(Australia)	Bank	Zealand	Businesses	Total	adjustment	Statement
Net interest income	7,638	3,885	511	1,328	1,629	713	15,704	(188)	15,516
Non-interest income	813	1,141	1,744	1,707	480	(33)	5,852	434	6,286
Net operating income before operating expenses and impairment charges	8,451	5,026	2,255	3,035	2,109	680	21,556	246	21,802
Operating expenses	(3,378)	(1,818)	(1,199)	(1,351)	(903)	(456)	(9,105)	(329)	(9,434)
Impairment (charges)/benefits	(565)	(343)	(4)	(56)	72	43	(853)	-	(853)
Profit before income tax	4,508	2,865	1,052	1,628	1,278	267	11,598	(83)	11,515
Income tax expense	(1,353)	(862)	(316)	(462)	(361)	(175)	(3,529)	11	(3,518)
Net profit attributable to non-controlling interests	-	-	-	(7)	-	-	(7)	-	(7)
Cash earnings for the year	3,155	2,003	736	1,159	917	92	8,062	(72)	7,990
Net cash earnings adjustments	(116)	(10)	160	-	(14)	(92)	(72)
Net profit attributable to owners of Westpac Banking Corporation	3,039	1,993	896	1,159	903	-	7,990
Additional information
Depreciation, amortisation and impairments1	(335)	(79)	(49)	(206)	(86)	(514)	(1,269)
Balance Sheet
Total assets	377,457	153,078	35,237	103,080	81,285	101,738	851,875
Total liabilities	202,689	111,385	41,431	118,875	71,432	244,721	790,533
Additions of property and
equipment and intangible assets	276	54	93	55	85	442	1,005

1Comparatives have been revised for consistency.

2016			BT
			Financial	Westpac	Westpac			Net cash
	Consumer	Business	Group	Institutional	New	Group		earnings	Income
$m	Bank	Bank	(Australia)	Bank	Zealand	Businesses	Total	adjustment	Statement
Net interest income	7,268	3,766	460	1,421	1,606	827	15,348	(200)	15,148
Non-interest income	863	1,089	1,908	1,537	483	8	5,888	(51)	5,837
Net operating income before operating expenses and impairment charges	8,131	4,855	2,368	2,958	2,089	835	21,236	(251)	20,985
Operating expenses	(3,312)	(1,774)	(1,184)	(1,374)	(889)	(398)	(8,931)	(286)	(9,217)
Impairment (charges)/benefits	(516)	(386)	-	(177)	(54)	9	(1,124)	-	(1,124)
Profit before income tax	4,303	2,695	1,184	1,407	1,146	446	11,181	(537)	10,644
Income tax expense	(1,292)	(810)	(352)	(421)	(321)	(148)	(3,344)	160	(3,184)
Net profit attributable to
non-controlling interests	-	-	-	(7)	-	(8)	(15)	-	(15)
Cash earnings for the year	3,011	1,885	832	979	825	290	7,822	(377)	7,445
Net cash earnings adjustments	(116)	(10)	(32)	-	2	(221)	(377)
Net profit attributable to owners of Westpac Banking Corporation	2,895	1,875	800	979	827	69	7,445
Additional information
Depreciation, amortisation and impairments	(282)	(65)	(67)	(188)	(102)	(524)	(1,228)
Balance Sheet
Total assets1	359,228	148,904	38,217	110,616	82,071	100,166	839,202
Total liabilities	191,027	106,046	40,792	125,931	72,408	244,817	781,021
Additions of property and
equipment and intangible assets	178	83	88	459	96	417	1,321

1Total assets for BT Financial Group (Australia) include the equity accounted carrying value of the investment in Pendal Group Limited of $718 million.

Schedule of reconciliation of cash earnings to net profit

$m	2018	2017	2016
Cash earnings for the year	8,065	8,062	7,822
Cash earning adjustments:
Adjustments relating to Pendal (BTIM)1	(73)	171	-
Amortisation of intangible assets	(17)	(137)	(158)
Acquisition, transaction and integration expenses	-	-	(15)
Fair value gain/(loss) on economic hedges	126	(69)	(203)
Ineffective hedges	(13)	(16)	9
Treasury shares	7	(21)	(10)
Total cash earnings adjustments	30	(72)	(377)
Net profit attributable to owners of Westpac Banking Corporation	8,095	7,990	7,445

1Pendal Group Limited (Pendal), formerly BT Investment Management (BTIM).

Schedule of geographic segments

	2018		2017		2016
	$m	%	$m	%	$m	%
Revenue
Australia	32,696	85.6	32,328	86.2	32,868	87.3
New Zealand	4,406	11.5	4,360	11.6	4,158	11.0
Other overseas2	1,097	2.9	830	2.2	633	1.7
Total	38,199	100.0	37,518	100.0	37,659	100.0
Non-current assets3
Australia	12,271	93.7	12,326	93.8	12,607	93.7
New Zealand	756	5.8	745	5.7	774	5.8
Other overseas2	65	0.5	68	0.5	77	0.5
Total	13,092	100.0	13,139	100.0	13,458	100.0

2Other included Pacific Islands, Asia, the Americas and Europe.

3Non-current assets represent property and equipment and intangible assets.

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Net interest income (Tables)

12 Months Ended

Sep. 30, 2018

Net interest income

Schedule of interest income and expense

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Interest income
Cash and balances with central banks	325	241	260	300	216
Receivables due from other financial institutions	108	110	100	102	85
Net ineffectiveness on qualifying hedges	(18)	(22)	12	(22)	(13)
Trading securities and financial assets designated at fair value	542	558	645	499	505
Available-for-sale securities	1,914	1,795	1,808	1,743	1,613
Loans	29,621	28,504	28,953	25,801	24,577
Regulatory deposits with central banks overseas	23	17	13	23	17
Due from subsidiaries	-	-	-	4,328	3,838
Other interest income	56	29	31	56	27
Total interest income	32,571	31,232	31,822	32,830	30,865
Interest expense
Payables due to other financial institutions	(319)	(279)	(345)	(314)	(278)
Deposits and other borrowings	(9,021)	(8,868)	(9,369)	(7,817)	(7,680)
Trading liabilities	(959)	(2,065)	(2,520)	(754)	(1,646)
Debt issues	(4,480)	(3,585)	(3,737)	(3,958)	(3,034)
Due to subsidiaries	-	-	-	(4,851)	(4,211)
Loan capital	(774)	(693)	(589)	(774)	(693)
Bank levy	(378)	(95)	-	(378)	(95)
Other interest expense	(135)	(131)	(114)	(131)	(128)
Total interest expense	(16,066)	(15,716)	(16,674)	(18,977)	(17,765)
Net interest income	16,505	15,516	15,148	13,853	13,100

Schedule of interest income and expense related to financial instruments not measured at fair value through income statement

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Interest income	31,934	30,555	30,941	32,240	30,232
Interest expense	14,070	12,673	13,101	17,217	15,205

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Non-interest income (Tables)

12 Months Ended

Sep. 30, 2018

Non-interest income

Schedule of non-interest income

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Fees and commissions
Facility fees	1,347	1,333	1,297	1,333	1,299
Transaction fees and commissions	1,105	1,193	1,177	886	953
Other non-risk fee income	98	229	281	54	211
Total fees and commissions	2,550	2,755	2,755	2,273	2,463
Wealth management and insurance income1
Life insurance and funds management net operating income	1,825	1,590	1,657	-	-
General insurance and lenders mortgage insurance net operating income	236	210	242	-	-
Total wealth management and insurance income	2,061	1,800	1,899	-	-
Trading income2	945	1,202	1,124	919	1,095
Other income
Dividends received from subsidiaries	-	-	-	2,013	1,859
Dividends received from other entities	3	2	7	3	2
Net gain on sale of associates3	-	279	-	-	-
Net gain on disposal of assets	24	6	1	-	5
Net gain/(loss) on hedging overseas operations	-	-	(6)	19	152
Net gain/(loss) on derivatives held for risk management purposes4	8	52	(88)	8	52
Net gain/(loss) on financial instruments designated at fair value	38	11	(6)	36	3
Net gain/(loss) on disposal of controlled entities	(9)	-	1	-	-
Rental income on operating leases	107	143	109	77	104
Share of associates’ net profit/(loss)	(10)	17	30	-	-
Other5	(89)	19	11	5	20
Total other income	72	529	59	2,161	2,197
Transactions with subsidiaries	-	-	-	472	376
Total non-interest income	5,628	6,286	5,837	5,825	6,131
Wealth management and insurance income comprised
Funds management income	1,145	997	1,006	-	-
Life insurance premium income	1,410	1,204	1,114	-	-
Life insurance commissions, investment income and other income	666	544	386	-	-
Life insurance claims and changes in life insurance liabilities	(1,396)	(1,155)	(849)	-	-
General insurance and lenders mortgage insurance net premiums earned	472	451	455	-	-
General insurance and lenders mortgage insurance investment, commissions and other income	50	77	70	-	-
General insurance and lenders mortgage insurance claims incurred, underwriting and commission expenses	(286)	(318)	(283)	-	-
Total wealth management and insurance income	2,061	1,800	1,899	-	-

1Wealth management and insurance income includes policy holder tax recoveries.

2Trading income represents a component of total markets income from WIB markets business, Westpac Pacific and Treasury foreign exchange operations in Australia and New Zealand.

3On 26 May 2017, the Group sold 60 million (19% of Pendal’s shares on issue) Pendal shares. Refer to Note 35 for further details.

4Income from derivatives held for risk management purposes reflects the impact of economic hedges of foreign currency capital and earnings.

5Other includes $104 million of impairment on the remaining shareholdings of Pendal for the Group and nil for Parent in 2018.

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Operating expenses (Tables)

12 Months Ended

Sep. 30, 2018

Operating expenses

Schedule of operating expenses

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Staff expenses
Employee remuneration, entitlements and on-costs	4,292	4,133	4,005	3,537	3,371
Superannuation expense1	386	380	369	315	314
Share-based payments	95	113	135	97	96
Restructuring costs	114	75	92	97	68
Total staff expenses	4,887	4,701	4,601	4,046	3,849
Occupancy expenses
Operating lease rentals	632	648	622	565	579
Depreciation of property and equipment	245	291	285	196	235
Other	156	134	125	134	111
Total occupancy expenses	1,033	1,073	1,032	895	925
Technology expenses
Amortisation and impairment of software assets	620	628	571	567	572
Depreciation and impairment of IT equipment	141	158	156	124	139
Technology services	721	639	672	564	512
Software maintenance and licences	342	313	277	289	269
Telecommunications	209	190	181	183	163
Data processing	77	80	72	76	78
Total technology expenses	2,110	2,008	1,929	1,803	1,733
Other expenses
Professional and processing services2	824	755	741	638	515
Amortisation and impairment of intangible assets and deferred expenditure	138	192	216	21	169
Postage and stationery	182	217	217	152	179
Advertising	173	155	156	127	107
Credit card loyalty programs	126	152	144	101	118
Non-lending losses	133	73	81	112	58
Impairment/(reversal of impairment) on investments in subsidiaries	-	-	-	44	7
Other expenses	86	108	100	162	238
Total other expenses	1,662	1,652	1,655	1,357	1,391
Total operating expenses	9,692	9,434	9,217	8,101	7,898

1Superannuation expense includes both defined contribution and defined benefit expense. Further details of the Group’s defined benefit plans are in Note 38.

2Professional and processing services relates to:

-

services provided by external suppliers including items such as cash handling and security services, marketing costs, research and recruitment fees (2018: $271 million, 2017: $268 million, 2016: $283 million);

-

operations processing (2018: $195 million, 2017: $184 million, 2016: $196 million);

-

consultants (2018: $151 million, 2017: $162 million, 2016: $120 million);

-

credit assessment (2018: $58 million, 2017: $53 million, 2016: $60 million);

-

legal and audit fees (2018: $111 million, 2017: $61 million, 2016: $51 million); and

-

regulatory fees and share market related costs (2018: $38 million, 2017: $27 million, 2016: $31 million).

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Impairment charges (Tables)

12 Months Ended

Sep. 30, 2018

Impairment charges

Schedule of impairment charges

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Individually assessed provisions raised	371	610	727	341	581
Write-backs	(150)	(288)	(210)	(131)	(218)
Recoveries	(179)	(168)	(137)	(138)	(121)
Collectively assessed provisions raised	668	699	744	610	628
Impairment charges	710	853	1,124	682	870

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Income tax (Tables)

12 Months Ended

Sep. 30, 2018

Income tax

Schedule of reconciliation to profit before income tax

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Profit before income tax	11,731	11,515	10,644	10,895	10,463
Tax at the Australian company tax rate of 30%	3,519	3,455	3,193	3,269	3,139
The effect of amounts which are not deductible/ (assessable) in calculating taxable income
Hybrid capital distributions	69	64	50	69	64
Life insurance:
Tax adjustment on policyholder earnings	24	8	(2)	-	-
Adjustment for life business tax rates	(1)	(1)	-	-	-
Dividend adjustments	(1)	(3)	(4)	(604)	(558)
Other non-assessable items	(5)	(3)	(10)	(2)	(2)
Other non-deductible items	64	32	35	34	25
Adjustment for overseas tax rates	(28)	(30)	(26)	(3)	(5)
Income tax (over)/under provided in prior years	9	4	(65)	-	1
Other items	(18)	(8)	13	(12)	(44)
Total income tax expense	3,632	3,518	3,184	2,751	2,620
Income tax analysis
Income tax expense comprises:
Current income tax	3,704	3,404	3,351	2,806	2,367
Movement in deferred tax	(81)	110	(102)	(55)	252
Income tax (over)/under provision in prior years	9	4	(65)	-	1
Total income tax expense	3,632	3,518	3,184	2,751	2,620
Total Australia	3,178	3,072	2,835	2,677	2,544
Total Overseas	454	446	349	74	76
Total income tax expense1	3,632	3,518	3,184	2,751	2,620

1As the Bank Levy is not a levy on income, it is not included in income tax. It is included in Note 3 Net interest income.

Schedule of temporary differences attributable to deferred tax assets and deferred tax liabilities

Deferred tax assets

	Consolidated			Parent Entity
$m	2018	2017		2018	2017
Amounts recognised in the income statements
Provisions for impairment charges on loans	827	847		708	701
Provision for long service leave, annual leave and other employee benefits	323	321		301	292
Financial instruments	5	3		2	4
Property and equipment	196	198		177	180
Other provisions	322	239		299	223
Other liabilities	119	100		112	99
Total amounts recognised in the income statements	1,792	1,708		1,599	1,499
Amounts recognised directly in other comprehensive income
Cash flow hedges1	50	63		31	41
Defined benefit	-	3		-	3
Total amounts recognised directly in other comprehensive income1	50	66		31	44
Gross deferred tax assets1	1,842	1,774		1,630	1,543
Set-off of deferred tax assets and deferred tax liabilities1	(662)	(662)		(528)	(490)
Net deferred tax assets	1,180	1,112		1,102	1,053
Movements
Opening balance	1,112	1,351		1,053	1,399
Recognised in the income statements	84	(387)		100	(313)
Recognised in other comprehensive income1	(16)	(85)		(13)	(69)
Set-off of deferred tax assets and deferred tax liabilities1	-	233		(38)	36
Closing balance	1,180	1,112		1,102	1,053
Deferred tax liabilities
	Consolidated			Parent Entity
$m	2018		2017	2018	2017
Amounts recognised in the income statements
Financial instruments	-		3	-	3
Finance lease transactions	158		106	161	83
Property and equipment	135		162	135	163
Life insurance assets	51		47	-	-
Other assets	312		335	213	215
Total amounts recognised in the income statements	656		653	509	464
Amounts recognised directly in other comprehensive income
Available-for-sale securities1	10		19	7	26
Defined benefit	14		-	15	-
Total amounts recognised directly in other comprehensive income1	24		19	22	26
Gross deferred tax liabilities1	680		672	531	490
Set-off of deferred tax assets and deferred tax liabilities1	(662)		(662)	(528)	(490)
Net deferred tax liabilities	18		10	3	-
Movements
Opening balance	10		36	-	-
Recognised in the income statements	3		(277)	45	(61)
Recognised in other comprehensive income1	5		18	(4)	25
Set-off of deferred tax assets and deferred tax liabilities1	-		233	(38)	36
Closing balance	18		10	3	-

1Comparatives have been revised for consistency.

Schedule of unrecognised deferred tax balances

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Unrecognised deferred tax asset
Tax losses on revenue account	190	213	151	162
Unrecognised deferred tax liability
Gross retained earnings of subsidiaries which the Parent Entity does
not intend to distribute in the foreseeable future	58	51	-	-

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Earnings per share (Tables)

12 Months Ended

Sep. 30, 2018

Earnings per share

Schedule of earnings per share

Consolidated	2018		2017		2016
$m	Basic	Diluted	Basic	Diluted	Basic	Diluted
Net profit attributable to shareholders	8,095	8,095	7,990	7,990	7,445	7,445
Adjustment for Restricted Share Plan (RSP) dividends1	(5)	-	(6)	-	(5)	-
Adjustment for potential dilution:
Distributions to convertible loan capital holders2	-	283	-	253	-	222
Adjusted net profit attributable to shareholders	8,090	8,378	7,984	8,243	7,440	7,667
Weighted average number of ordinary shares (millions)
Weighted average number of ordinary shares on issue	3,414	3,414	3,364	3,364	3,322	3,322
Treasury shares (including RSP share rights)	(8)	(8)	(9)	(9)	(9)	(9)
Adjustment for potential dilution:
Share-based payments	-	3	-	4	-	4
Convertible loan capital2	-	232	-	236	-	203
Adjusted weighted average number of ordinary shares	3,406	3,641	3,355	3,595	3,313	3,520
Earnings per ordinary share (cents)	237.5	230.1	238.0	229.3	224.6	217.8

1RSP share rights are explained in Note 37. Some RSP share rights have not vested and are not ordinary shares but do receive dividends. These RSP dividends are deducted to show the profit attributable to ordinary shareholders.

2The Group has issued convertible loan capital which is expected to convert into ordinary shares in the future (refer to Note 20 for further details). These convertible loan capital instruments are all dilutive and diluted EPS is therefore calculated as if the instruments had already been converted.

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Average balance sheet and interest rates (Tables)

12 Months Ended

Sep. 30, 2018

Average balance sheet and interest rates

Summary of the daily average balances of the Group's interest earning assets and interest bearing liabilities

Consolidated	2018			2017			2016
	Average	Interest	Average	Average	Interest	Average	Average	Interest	Average
	Balance	Income	Rate	Balance	Income	Rate	Balance	Income	Rate
	$m	$m	%	$m	$m	%	$m	$m	%
Assets
Interest earning assets
Receivables due from other financial institutions:
Australia	4,169	77	1.8	7,422	82	1.1	9,616	84	0.9
New Zealand	350	6	1.7	850	8	0.9	449	6	1.3
Other overseas	1,046	25	2.4	851	20	2.4	1,292	10	0.8
Trading securities and financial assets designated at fair value:
Australia	17,420	423	2.4	18,418	416	2.3	18,632	481	2.6
New Zealand	3,538	80	2.3	4,238	96	2.3	4,105	118	2.9
Other overseas	2,286	39	1.7	3,214	46	1.4	3,339	46	1.4
Available-for-sale securities:
Australia	55,458	1,692	3.1	52,457	1,573	3.0	48,151	1,581	3.3
New Zealand	3,304	136	4.1	3,479	147	4.2	3,193	141	4.4
Other overseas	2,778	86	3.1	2,272	75	3.3	2,710	86	3.2
Regulatory deposits with central banks overseas
Other overseas	1,040	23	2.2	1,035	17	1.6	1,197	13	1.1
Loans and other receivables1:
Australia	579,749	25,709	4.4	557,865	24,772	4.4	532,172	25,162	4.7
New Zealand	73,804	3,514	4.8	72,938	3,460	4.7	68,370	3,617	5.3
Other overseas	30,002	761	2.5	27,255	520	1.9	28,617	477	1.7
Total interest earning assets and interest income	774,944	32,571	4.2	752,294	31,232	4.2	721,843	31,822	4.4
Non-Interest earning assets
Cash, receivables due from other financial institutions and regulatory deposits with central banks overseas	2,376			2,000			2,431
Derivative financial instruments	34,702			37,673			48,666
Life insurance assets	10,664			12,447			12,702
All other assets2	61,938			60,111			57,913
Total non-interest earning assets	109,680			112,231			121,712
Total assets	884,624			864,525			843,555

1Loans and other receivables are stated net of provisions for impairment charges on loans. Other receivables include cash and balances with central banks and other interest earning assets.

2Include property and equipment, intangible assets, deferred tax assets, non-interest bearing loans relating to mortgage offset accounts and other assets.

Consolidated	2018			2017			2016
	Average	Interest	Average	Average	Interest	Average	Average	Interest	Average
	Balance	Expense	Rate	Balance	Expense	Rate	Balance	Expense	Rate
	$m	$m	%	$m	$m	%	$m	$m	%
Liabilities
Interest bearing liabilities
Payables due to other financial institutions:
Australia	16,180	262	1.6	15,740	241	1.5	16,570	301	1.8
New Zealand	1,135	17	1.5	642	9	1.4	567	10	1.8
Other overseas	1,963	40	2.0	2,451	29	1.2	2,811	34	1.2
Deposits and other borrowings:
Australia	422,006	7,308	1.7	409,586	7,344	1.8	376,115	7,801	2.1
New Zealand	51,368	1,196	2.3	51,042	1,173	2.3	48,251	1,280	2.7
Other overseas	26,599	517	1.9	24,085	351	1.5	29,336	288	1.0
Loan capital:
Australia	15,028	635	4.2	15,841	638	4.0	12,150	513	4.2
New Zealand	1,645	84	5.1	43	2	4.7	-	-	-
Other overseas	1,324	55	4.2	1,324	53	4.0	1,687	76	4.5
Other interest bearing liabilities1:
Australia	163,949	5,369	3.3	157,842	5,117	3.2	164,871	5,574	3.4
New Zealand	14,218	580	4.1	15,821	747	4.7	14,067	787	5.6
Other overseas	94	3	3.2	507	12	2.4	851	10	1.2
Total interest bearing liabilities and interest expense	715,509	16,066	2.2	694,924	15,716	2.3	667,276	16,674	2.5
Non-interest bearing liabilities Deposits and payables due to
other financial institutions:
Australia	42,377			40,514			36,594
New Zealand	5,289			4,716			4,105
Other overseas	824			869			1,023
Derivative financial instruments	37,504			42,780			55,956
Life insurance liabilities	8,874			10,560			10,985
All other liabilities2	12,199			11,586			11,145
Total non-interest bearing liabilities	107,067			111,025			119,808
Total liabilities	822,576			805,949			787,084
Shareholders’ equity	62,017			58,556			55,896
Non-controlling interests	31			20			575
Total equity	62,048			58,576			56,471
Total liabilities and equity	884,624			864,525			843,555

1Include net impact of Treasury balance sheet management activities and the Bank Levy.

2Include other liabilities, provisions, current and deferred tax liabilities.

Summary of change in net interest income

Consolidated	2018			2017
	Change Due to			Change Due to
$m	Volume	Rate	Total	Volume	Rate	Total
Interest earning assets
Receivables due from other financial institutions:
Australia	(36)	31	(5)	(19)	17	(2)
New Zealand	(5)	3	(2)	5	(3)	2
Other overseas	5	-	5	(3)	13	10
Trading securities and financial assets designated at fair value:
Australia	(23)	30	7	(6)	(59)	(65)
New Zealand	(16)	-	(16)	4	(26)	(22)
Other overseas	(13)	6	(7)	(2)	2	-
Available-for-sale securities:
Australia	90	29	119	141	(149)	(8)
New Zealand	(7)	(4)	(11)	13	(7)	6
Other overseas	17	(6)	11	(14)	3	(11)
Regulatory deposits with central banks overseas:
Other overseas	-	6	6	(2)	6	4
Loans and other receivables:
Australia	972	(35)	937	1,217	(1,607)	(390)
New Zealand	41	13	54	242	(399)	(157)
Other overseas	52	189	241	(25)	68	43
Total change in interest income Interest bearing liabilities	1,077	262	1,339	1,551	(2,141)	(590)
Payables due to other financial institutions:
Australia	7	14	21	(15)	(45)	(60)
New Zealand	7	1	8	1	(2)	(1)
Other overseas	(6)	17	11	(4)	(1)	(5)
Deposits and other borrowings:
Australia	223	(259)	(36)	693	(1,150)	(457)
New Zealand	7	16	23	75	(182)	(107)
Other overseas	37	129	166	(52)	115	63
Loan capital:
Australia	(33)	30	(3)	156	(31)	125
New Zealand	75	7	82	2	-	2
Other overseas	-	2	2	(16)	(7)	(23)
Other interest bearing liabilities:
Australia	198	54	252	(237)	(220)	(457)
New Zealand	(76)	(91)	(167)	98	(138)	(40)
Other overseas	(10)	1	(9)	(5)	7	2
Total change in interest expense	429	(79)	350	696	(1,654)	(958)
Change in net interest income:
Australia	608	216	824	736	(352)	384
New Zealand	-	79	79	88	(113)	(25)
Other overseas	40	46	86	31	(22)	9
Total change in net interest income	648	341	989	855	(487)	368

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Receivables due from other financial institutions (Tables)

12 Months Ended

Sep. 30, 2018

Receivables due from other financial institutions

Summary of receivables due from other financial institutions

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Conduit assets1	-	392	-	-
Cash collateral	4,332	4,834	4,267	4,462
Interbank lending	1,458	1,902	1,444	1,895
Total receivables due from other financial institutions	5,790	7,128	5,711	6,357

1Further information on conduit assets is disclosed in Note 25. Conduit assets are only available to meet associated conduit liabilities disclosed in Note 19.

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Trading securities and financial assets designated at fair value (Tables)

12 Months Ended

Sep. 30, 2018

Trading securities and financial assets designated at fair value

Financial assets

Schedule of financial assets

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Trading securities	17,779	15,860	15,288	16,673	14,151
Securities purchased under agreement to resell	1,379	6,887	3,260	1,379	6,887
Other financial assets designated at fair value	2,976	2,577	2,620	2,365	1,908
Total trading securities and financial assets designated at fair value	22,134	25,324	21,168	20,417	22,946

Trading securities

Financial assets

Schedule of financial assets

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Government and semi-government securities	13,062	11,339	9,267	12,253	10,452
Other debt securities	4,622	4,453	5,960	4,325	3,631
Equity securities	8	11	7	8	11
Other	87	57	54	87	57
Total trading securities	17,779	15,860	15,288	16,673	14,151

Other financial assets designated at fair value

Financial assets

Schedule of financial assets

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Other debt securities	2,715	2,259	2,319	2,302	1,848
Equity securities	261	318	301	63	60
Total other financial assets designated at fair value	2,976	2,577	2,620	2,365	1,908

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Available-for-sale securities (Tables)

12 Months Ended

Sep. 30, 2018

Financial assets

Schedule of maturities of the available-for-sale securities and their weighted-average yield

	Within		Over 1 Year		Over 5 Years		Over		No Specific			Weighted
	1 Year		to 5 Years		to 10 Years		10 Years		Maturity		Total	Average
2018	$m	%	$m	%	$m	%	$m	%	$m	%	$m	%
Carrying amount
Government and semi- government securities	4,780	3.1%	25,126	3.3%	13,073	2.9%	-	-	-	-	42,979	3.2%
Other debt securities	2,118	3.0%	15,638	2.9%	-	-	-	-	-	-	17,756	2.9%
Equity securities	-	-	-	-	-	-	-	-	384	-	384	-
Total by maturity	6,898		40,764		13,073		-		384		61,119

Available-for-sale securities

Financial assets

Schedule of financial assets

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Available-for-sale securities
Government and semi-government securities	42,979	43,382	46,255	40,345	40,491
Other debt securities	17,756	16,863	14,323	16,101	15,252
Equity securities1	384	465	87	67	57
Total available-for-sale securities	61,119	60,710	60,665	56,513	55,800
1Certain equity securities are measured at cost because their fair value cannot be reliably measured (there is no active market and quoted prices are not available). 2018: nil for the Group (2017: nil, 2016: $59 million) and nil for the Parent Entity (2017: nil).

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Loans (Tables)

12 Months Ended

Sep. 30, 2018

Financial assets

Schedule of loans presented based on their industry classification

Consolidated
$m	2018	2017	2016	2015	2014
Australia
Accommodation, cafes and restaurants	8,297	8,177	7,536	7,490	7,273
Agriculture, forestry and fishing	8,642	8,182	7,953	7,667	7,246
Construction	6,751	6,043	5,797	5,596	5,533
Finance and insurance	14,059	12,923	14,298	13,175	12,202
Government, administration and defence	628	554	675	796	750
Manufacturing	9,298	9,054	9,140	9,342	8,876
Mining	3,311	3,025	3,641	4,415	3,207
Property	45,471	43,220	44,785	44,667	41,718
Property services and business services	13,477	12,050	11,674	10,703	10,045
Services	12,158	12,950	12,362	10,798	9,629
Trade	16,501	16,063	16,044	15,484	14,449
Transport and storage	8,853	8,624	9,015	9,940	9,186
Utilities	4,350	5,237	4,025	3,554	3,232
Retail lending	463,609	451,315	429,522	400,441	376,662
Other	6,680	4,229	2,777	1,587	1,247
Total Australia	622,085	601,646	579,244	545,655	511,255
New Zealand
Accommodation, cafes and restaurants	323	290	256	182	159
Agriculture, forestry and fishing	8,138	7,772	7,788	6,860	6,019
Construction	502	447	396	359	361
Finance and insurance	2,903	2,478	2,682	1,725	1,158
Government, administration and defence	114	137	163	292	350
Manufacturing	2,199	2,090	2,324	2,110	1,848
Mining	206	141	280	407	484
Property	5,997	5,858	5,925	5,301	5,116
Property services and business services	1,073	1,113	1,084	925	869
Services	1,733	1,810	1,396	1,173	996
Trade	2,509	2,163	2,333	2,003	1,878
Transport and storage	1,029	1,080	1,257	1,094	868
Utilities	1,003	1,237	1,600	1,021	1,004
Retail lending	46,613	45,190	45,011	40,277	37,222
Other	-	-	-	-	138
Total New Zealand	74,342	71,806	72,495	63,729	58,470
Other overseas
Accommodation, cafes and restaurants	112	97	118	111	127
Agriculture, forestry and fishing	19	5	12	568	465
Construction	71	55	147	247	120
Finance and insurance	4,098	4,289	2,767	4,297	2,006
Government, administration and defence	25	4	4	130	35
Manufacturing	3,257	2,982	2,619	3,848	2,886
Mining	322	349	535	778	1,617
Property	467	491	479	409	352
Property services and business services	1,684	540	526	403	140
Services	205	205	99	182	242
Trade	2,988	2,680	3,463	2,898	3,248
Transport and storage	1,232	1,389	1,186	1,099	689
Utilities	736	514	442	722	701
Retail lending	683	657	1,120	1,191	1,111
Other	178	76	-	77	52
Total other overseas	16,077	14,333	13,517	16,960	13,791
Total loans	712,504	687,785	665,256	626,344	583,516
Provisions for impairment charges on loans	(2,814)	(2,866)	(3,330)	(3,028)	(3,173)
Total net loans	709,690	684,919	661,926	623,316	580,343

Parent Entity
$m	2018	2017
Australia
Accommodation, cafes and restaurants	8,228	8,098
Agriculture, forestry and fishing	8,584	8,063
Construction	6,247	5,440
Finance and insurance	14,006	12,882
Government, administration and defence	620	541
Manufacturing	9,072	8,782
Mining	3,279	2,985
Property	45,471	43,220
Property services and business services	12,433	10,979
Services	11,891	12,605
Trade	16,291	15,760
Transport and storage	8,456	8,167
Utilities	4,324	5,206
Retail lending	462,568	449,207
Other	5,848	3,253
Total Australia	617,318	595,188
New Zealand
Accommodation, cafes and restaurants	-	-
Agriculture, forestry and fishing	2	1
Construction	5	3
Finance and insurance	-	-
Government, administration and defence	-	-
Manufacturing	98	88
Mining	-	-
Property	-	-
Property services and business services	8	9
Services	-	1
Trade	263	217
Transport and storage	-	-
Utilities	-	-
Retail lending	-	-
Other	-	2
Total New Zealand	376	321
Other overseas
Accommodation, cafes and restaurants	70	88
Agriculture, forestry and fishing	4	4
Construction	59	44
Finance and insurance	4,093	4,284
Government, administration and defence	24	3
Manufacturing	3,253	2,969
Mining	323	349
Property	234	288
Property services and business services	1,595	525
Services	187	74
Trade	2,802	2,446
Transport and storage	1,127	1,159
Utilities	734	508
Retail lending	277	280
Other	99	80
Total other overseas	14,881	13,101
Total loans	632,575	608,610
Provisions for impairment charges on loans	(2,407)	(2,373)
Total net loans	630,168	606,237

Schedule of consolidated contractual maturity distribution of all loans by type of customer

Consolidated 2018
$m	Up to 1 Year	1 to 5 Years	Over 5 Years	Total
Loans by type of customer in Australia
Accommodation, cafes and restaurants	3,381	4,457	459	8,297
Agriculture, forestry and fishing	3,173	4,763	706	8,642
Construction	1,647	4,301	803	6,751
Finance and insurance	7,465	4,896	1,698	14,059
Government, administration and defence	125	174	329	628
Manufacturing	3,263	4,701	1,334	9,298
Mining	548	1,281	1,482	3,311
Property	19,019	22,782	3,670	45,471
Property services and business services	4,029	7,547	1,901	13,477
Services	3,248	7,185	1,725	12,158
Trade	6,737	8,048	1,716	16,501
Transport and storage	1,688	5,660	1,505	8,853
Utilities	1,105	2,625	620	4,350
Retail lending	14,618	24,316	424,675	463,609
Other	1,076	4,097	1,507	6,680
Total Australia	71,122	106,833	444,130	622,085
Total overseas	24,824	18,958	46,637	90,419
Total loans	95,946	125,791	490,767	712,504

Loans

Financial assets

Schedule of financial assets

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Australia
Housing	444,741	427,167	444,730	427,155
Personal (loans and cards)	21,079	21,952	20,090	19,905
Business	154,347	150,542	150,580	146,143
Margin lending	1,830	1,885	1,830	1,885
Other	88	100	88	100
Total Australia	622,085	601,646	617,318	595,188
New Zealand
Housing	44,772	43,198	-	-
Personal (loans and cards)	1,793	1,856	-	-
Business	27,701	26,667	376	321
Other	76	85	-	-
Total New Zealand	74,342	71,806	376	321
Other overseas
Trade finance	3,600	2,818	3,600	2,818
Other	12,477	11,515	11,281	10,283
Total other overseas	16,077	14,333	14,881	13,101
Total loans	712,504	687,785	632,575	608,610
Provisions for impairment charges on loans (refer to Note 14)	(2,814)	(2,866)	(2,407)	(2,373)
Total net loans1,2	709,690	684,919	630,168	606,237

1Total net loans include $3,250 million (2017: $4,587 million) of fixed rate bills designated at fair value to reduce an accounting mismatch. The change in fair value of fixed rate bills attributable to credit risk recognised during the year was $1 million (2017: $6 million) for both the Group and Parent Entity. The cumulative change in fair value of the fixed rate bills attributable to credit risk was a decrease of $22 million (2017: $23 million decrease) for both the Group and Parent Entity.

2Total net loans include securitised loans of:

-

Group - 2018 $7,135 million (2017: $7,651 million)

-

Parent - 2018 $85,965 million (2017: $82,135 million)

Schedule of interest rate segmentation of loans maturing after one year

Consolidated	2018			2017
	Loans at	Loans at		Loans at	Loans at
	Variable	Fixed		Variable	Fixed
	Interest	Interest		Interest	Interest
$m	Rates	Rates	Total	Rates	Rates	Total
Interest rate segmentation of Group loans maturing after one year
By offices in Australia	423,886	127,077	550,963	417,643	117,326	534,969
By offices overseas	18,816	46,779	65,595	18,371	44,428	62,799
Total loans maturing after one year	442,702	173,856	616,558	436,014	161,754	597,768

Finance lease receivables included in loans

Financial assets

Schedule of financial assets

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Gross investment in finance lease receivables:
Due within one year	692	661	473	433
Due after one year but not later than five years	4,866	4,619	3,804	3,349
Due after five years	595	301	563	237
Unearned future finance income on finance lease receivables	(870)	(796)	(727)	(606)
Net investment in finance lease receivables	5,283	4,785	4,113	3,413
Accumulated allowance for uncollectable minimum lease payments	(8)	(6)	(3)	(2)
Net investment in finance lease receivables after accumulated allowance	5,275	4,779	4,110	3,411
The net investment in finance lease receivables may be analysed as follows:
Due within one year	677	634	458	416
Due after one year but not later than five years	4,116	3,913	3,192	2,809
Due after five years	490	238	463	188
Total net investment in finance lease receivables	5,283	4,785	4,113	3,413

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Provisions for impairment charges (Tables)

12 Months Ended

Sep. 30, 2018

Provisions for impairment charges

Schedule of changes in provisions for impairment charges on loans

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Individually assessed provisions
Opening balance	480	869	669	417	752
Provisions raised	371	610	727	341	581
Write-backs	(150)	(288)	(210)	(131)	(218)
Write-offs	(269)	(688)	(287)	(248)	(681)
Interest adjustment	(11)	(16)	(13)	(11)	(16)
Other adjustments	1	(7)	(17)	7	(1)
Closing balance	422	480	869	375	417
Collectively assessed provisions
Opening balance	2,639	2,733	2,663	2,180	2,198
Provisions raised	668	699	744	610	628
Write-offs	(858)	(968)	(902)	(742)	(810)
Interest adjustment	179	188	193	148	152
Other adjustments	3	(13)	35	42	12
Closing balance	2,631	2,639	2,733	2,238	2,180
Total provisions for impairment charges on loans and credit commitments	3,053	3,119	3,602	2,613	2,597
Less provisions for credit commitments (refer to Note 28)	(239)	(253)	(272)	(206)	(224)
Total provisions for impairment charges on loans	2,814	2,866	3,330	2,407	2,373

Schedule of provisions for impairment charges on loans by industry classification

Consolidated	2018		2017		2016		2015		2014
	$m	%	$m	%	$m	%	$m	%	$m	%
Individually assessed provisions by industry
Australia
Accommodation, cafes and restaurants	9	0.3	15	0.5	39	1.1	38	1.1	47	1.4
Agriculture, forestry and fishing	13	0.4	9	0.3	21	0.6	23	0.7	47	1.4
Construction	24	0.8	20	0.6	23	0.6	20	0.6	61	1.8
Finance and insurance	25	0.8	6	0.2	15	0.4	23	0.7	24	0.7
Manufacturing	49	1.6	40	1.3	120	3.4	41	1.2	36	1.0
Mining	9	0.3	19	0.6	41	1.1	11	0.3	15	0.4
Property	47	1.5	74	2.4	125	3.5	127	3.9	200	5.7
Property services and business services	35	1.1	77	2.5	215	6.0	97	2.9	83	2.4
Services	27	0.9	25	0.8	16	0.4	20	0.6	32	0.9
Trade	39	1.3	37	1.2	62	1.7	39	1.2	70	2.0
Transport and storage	16	0.5	14	0.4	14	0.4	54	1.6	12	0.3
Utilities	-	-	-	-	-	-	-	-	2	0.1
Retail lending	92	3.0	94	3.0	57	1.6	57	1.7	60	1.7
Other	2	0.1	3	0.1	4	0.1	3	0.1	2	0.1
Total Australia	387	12.6	433	13.9	752	20.9	553	16.6	691	19.9
New Zealand
Accommodation, cafes and restaurants	-	-	-	-	-	-	-	-	-	-
Agriculture, forestry and fishing	13	0.4	11	0.4	11	0.3	6	0.2	6	0.2
Construction	-	-	-	-	1	-	1	-	1	-
Finance and insurance	-	-	-	-	-	-	-	-	-	-
Manufacturing	6	0.2	4	0.1	34	0.9	33	1.0	33	0.9
Mining	-	-	-	-	14	0.4	13	0.4	36	1.0
Property	6	0.2	20	0.6	31	0.9	42	1.3	38	1.1
Property services and business services	-	-	-	-	1	-	1	-	-	-
Services	1	0.1	2	0.1	2	0.1	2	0.1	1	-
Trade	-	-	1	-	1	-	1	-	2	0.1
Transport and storage	-	-	-	-	-	-	-	-	1	-
Utilities	-	-	-	-	-	-	-	-	-	-
Retail lending	7	0.2	7	0.2	4	0.1	8	0.2	10	0.3
Total New Zealand	33	1.1	45	1.4	99	2.7	107	3.2	128	3.6
Total other overseas	2	0.1	2	0.1	18	0.5	9	0.3	48	1.4
Total individually assessed provisions	422	13.8	480	15.4	869	24.1	669	20.1	867	24.9
Total collectively assessed provisions	2,631	86.2	2,639	84.6	2,733	75.9	2,663	79.9	2,614	75.1
Total provisions for impairment charges and credit commitments	3,053	100.0	3,119	100.0	3,602	100.0	3,332	100.0	3,481	100.0

Schedule of write-offs and recoveries of loans, by industry classification

Consolidated
$m	2018	2017	2016	2015	2014
Write-offs
Australia
Accommodation, cafes and restaurants	(14)	(38)	(17)	(40)	(26)
Agriculture, forestry and fishing	(12)	(10)	(12)	(36)	(60)
Construction	(23)	(30)	(20)	(40)	(37)
Finance and insurance	(4)	(6)	(13)	(12)	(10)
Manufacturing	(12)	(105)	(21)	(20)	(85)
Mining	(14)	(46)	(18)	(17)	(4)
Property	(39)	(76)	(44)	(104)	(182)
Property services and business services	(44)	(203)	(43)	(70)	(50)
Services	(24)	(97)	(36)	(18)	(22)
Trade	(56)	(59)	(30)	(56)	(70)
Transport and storage	(17)	(17)	(48)	(24)	(43)
Utilities	(1)	-	(1)	(2)	(3)
Retail lending	(793)	(898)	(803)	(658)	(603)
Other	(5)	(17)	(13)	(13)	(14)
Total Australia	(1,058)	(1,602)	(1,119)	(1,110)	(1,209)
New Zealand
Accommodation, cafes and restaurants	-	-	-	-	(2)
Agriculture, forestry and fishing	-	-	(1)	(3)	(10)
Construction	(1)	(1)	(1)	-	(5)
Finance and insurance	-	-	-	-	(10)
Manufacturing	-	-	-	(1)	(1)
Mining	-	-	-	(28)	(10)
Property	(13)	(2)	(10)	(18)	(41)
Property services and business services	-	-	(2)	-	-
Services	(1)	-	-	(1)	(37)
Trade	(1)	(1)	(1)	(4)	(3)
Transport and storage	-	-	-	-	-
Utilities	-	-	-	-	-
Retail lending	(53)	(49)	(51)	(55)	(49)
Other	-	-	(1)	-	-
Total New Zealand	(69)	(53)	(67)	(110)	(168)
Total other overseas	-	(1)	(3)	(18)	(31)
Total write-offs	(1,127)	(1,656)	(1,189)	(1,238)	(1,408)
Write-offs in relation to:
Collectively assessed provisions	(858)	(968)	(902)	(793)	(702)
Individually assessed provisions	(269)	(688)	(287)	(445)	(706)
Total write-offs	(1,127)	(1,656)	(1,189)	(1,238)	(1,408)

Consolidated
$m	2018	2017	2016	2015	2014
Recoveries
Australia
Accommodation, cafes and restaurants	1	3	-	-	-
Agriculture, forestry and fishing	-	-	-	-	-
Construction	1	2	1	4	2
Finance and insurance	1	1	34	8	8
Manufacturing	-	2	1	3	3
Mining	1	1	-	-	-
Property	7	10	3	15	12
Property services and business services	1	3	2	2	-
Services	1	-	2	1	-
Trade	2	3	1	1	1
Transport and storage	1	1	1	-	-
Utilities	-	-	-	-	2
Retail lending	139	118	84	78	62
Other	-	5	2	1	2
Total Australia	155	149	131	113	92
Total New Zealand	24	19	6	18	14
Total other overseas	-	-	-	-	-
Total recoveries	179	168	137	131	106
Total write-offs	(1,127)	(1,656)	(1,189)	(1,238)	(1,408)
Net write-offs and recoveries	(948)	(1,488)	(1,052)	(1,107)	(1,302)

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Life insurance assets and life insurance liabilities (Tables)

12 Months Ended

Sep. 30, 2018

Life insurance assets and life insurance liabilities

Schedule of life insurance assets and life insurance liabilities

Life insurance assets

Consolidated
$m	2018	20171
Investments held directly and in unit trusts
Equities	1,223	2,515
Debt securities	1,622	2,025
Unit trusts	6,545	6,093
Loans and other assets	60	10
Total life insurance assets	9,450	10,643

Life insurance liabilities

Consolidated	Life Investment		Life Insurance
Reconciliation of movements in policy liabilities	Contracts		Contracts		Total
$m	2018	2017	2018	2017	2018	2017
Opening balance	9,854	13,234	(835)	(873)	9,019	12,361
Movements in policy liabilities reflected in the income statement	704	544	(6)	38	698	582
Contract contributions recognised in policy liabilities	738	790	-	-	738	790
Contract withdrawals recognised in policy liabilities	(1,115)	(1,214)	-	-	(1,115)	(1,214)
Contract fees, expenses and tax recoveries	(104)	(100)	-	-	(104)	(100)
Change in external unit holders of managed investment schemes	(1,639)	(3,400)	-	-	(1,639)	(3,400)
Closing balance	8,438	9,854	(841)	(835)	7,597	9,019

1Comparatives have been restated for consistency.

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Payables due to other financial institutions (Tables)

12 Months Ended

Sep. 30, 2018

Payables due to other financial institutions

Summary of payables due to other financial institutions

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash collateral	2,171	2,429	1,735	2,304
Offshore central bank deposits	3,397	3,108	3,397	3,108
Interbank borrowing	6,564	6,953	6,545	6,946
Security repurchase agreements1	6,005	9,417	6,005	9,417
Total payables due to other financial institutions	18,137	21,907	17,682	21,775

1The carrying value of securities pledged under repurchase agreements for the Group and the Parent Entity is $8,884 million (2017: $15,192 million).

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Deposits and other borrowings (Tables)

12 Months Ended

Sep. 30, 2018

Deposits and other borrowings

Schedule of total deposits and other borrowings

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Australia
Certificates of deposit	28,746	37,515	28,746	37,515
Non-interest bearing, repayable at call	41,783	40,324	41,783	40,324
Other interest bearing at call1	233,052	224,268	233,052	223,686
Other interest bearing term1	171,832	156,249	171,832	156,249
Total Australia	475,413	458,356	475,413	457,774
New Zealand
Certificates of deposit	1,116	546	-	-
Non-interest bearing, repayable at call	5,406	4,853	-	-
Other interest bearing at call	21,368	21,273	-	-
Other interest bearing term	29,897	27,620	3	-
Total New Zealand	57,787	54,292	3	-
Other overseas
Certificates of deposit	11,672	8,860	11,672	8,860
Non-interest bearing, repayable at call	830	810	352	322
Other interest bearing at call	1,638	1,505	1,249	1,150
Other interest bearing term	11,945	9,768	11,779	9,587
Total other overseas	26,085	20,943	25,052	19,919
Total deposits and other borrowings	559,285	533,591	500,468	477,693
Deposits and other borrowings at fair value2	41,178	46,569	40,062	46,023
Deposits and other borrowings at amortised cost	518,107	487,022	460,406	431,670
Total deposits and other borrowings	559,285	533,591	500,468	477,693

1Comparatives have been revised for consistency.

2The contractual outstanding amount payable at maturity for the Group is $41,330 million (2017: $46,713 million) and for the Parent Entity is $40,214 million (2017: $46,168 million).

Schedule of average balances and average rates for major categories of deposits

Consolidated	2018		2017		2016
	Average	Average	Average	Average	Average	Average
	Balance	Rate	Balance	Rate	Balance	Rate
	$m	%	$m	%	$m	%
Australia
Non-interest bearing	41,156		39,355		35,732
Certificates of deposit	31,424	2.0%	33,350	2.0%	31,165	2.4%
Other interest bearing at call1	228,328	1.2%	222,122	1.1%	208,333	1.5%
Other interest bearing term1	162,254	2.5%	154,114	2.7%	136,617	2.9%
Total Australia	463,162		448,941		411,847
Overseas
Non-interest bearing	6,021		5,527		5,051
Certificates of deposit	13,008	1.9%	13,151	1.4%	16,938	0.9%
Other interest bearing at call	23,017	1.2%	24,163	1.3%	24,686	1.9%
Other interest bearing term	41,942	2.8%	37,813	2.7%	35,963	2.7%
Total overseas	83,988		80,654		82,638

1Comparatives have been revised for consistency.

Schedule of maturity profile of certificates of deposit and term deposits greater than US$100,000

Consolidated 2018			Between
		Between	6 Months
	Less Than	3 and	and
$m	3 Months	6 Months	1 Year	Over 1 Year	Total
Certificates of deposit greater than US$100,000	14,181	13,176	1,285	104	28,746
Term deposits greater than US$100,000	84,292	30,627	27,139	8,848	150,906

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Other financial liabilities at fair value through income statement (Tables)

12 Months Ended

Sep. 30, 2018

Other financial liabilities at fair value through income statement

Schedule of other financial liabilities at fair value through income statement

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Security repurchase agreements2	3,517	3,543	3,517	3,525
Securities sold short	780	513	780	513
Total other financial liabilities at fair value through income statement	4,297	4,056	4,297	4,038

2The carrying value of securities pledged under repurchase agreements for the Group is $3,608 million (2017: $3,554 million) and for the Parent Entity is $3,608 million (2017: $3,536 million).

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Debt issues (Tables)

12 Months Ended

Sep. 30, 2018

Debt issues

Schedule of distinction between short-term and long-term debt is based on the original maturity of the underlying security

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Short-term debt:
Own issuances1	26,266	31,514	26,266	30,002
Customer conduits2	-	392	-	-
Acceptances	-	6	-	6
Total short-term debt1	26,266	31,912	26,266	30,008
Long-term debt:
Covered bonds	35,434	34,516	30,268	29,698
Senior1	103,159	93,476	95,754	84,410
Securitisation	7,588	8,209	-	-
Structured notes	149	243	-	-
Total long-term debt1	146,330	136,444	126,022	114,108
Total debt issues	172,596	168,356	152,288	144,116
Debt issues at fair value3	3,355	4,673	3,223	2,940
Debt issues at amortised cost	169,241	163,683	149,065	141,176
Total debt issues	172,596	168,356	152,288	144,116
Movement Reconciliation ($m)
Balance as at 1 October 2017	168,356		144,116
Issuances	59,456		57,440
Maturities, repayments, buy backs and reductions	(64,698)		(58,005)
Other cash movements	-		-
Total cash movements	(5,242)		(565)
Foreign exchange translation impact	11,022		10,252
Fair value adjustments	(244)		(240)
Fair value hedge accounting adjustments	(1,313)		(1,288)
Other (amortisation of bond issue costs, etc.)	17		13
Total non-cash movements	9,482		8,737
Balance as at 30 September 2018	172,596		152,288

1Comparatives have been revised for consistency.

2Further information on customer conduits is disclosed in Note 25.

3The contractual outstanding amount payable at maturity for the Group is $3,475 million (2017: $4,604 million) and for the Parent Entity is $3,344 million (2017: $2,875 million). The cumulative change in the fair value of debt issues which is attributable to changes in Westpac’s own credit risk is a decrease of $45 million (2017: $2 million decrease) for the Group and Parent Entity.

Consolidated
$m		2018	2017
Short-term debt
Own issuances:
US commercial paper		18,675	26,167
Senior debt1:
AUD		550	1,900
GBP		6,604	2,916
Other		437	531
Total own issuances1		26,266	31,514
Asset backed commercial paper (by currency):
AUD		-	392
Total assets backed commercial paper		-	392
Acceptances		-	6
Total short-term debt		26,266	31,912
Long-term debt (by currency)1:
AUD		37,571	35,780
CHF		2,953	1,903
EUR		31,734	25,049
GBP		5,290	4,922
JPY		3,226	2,137
NZD		2,294	3,416
USD		60,336	60,971
Other		2,926	2,266
Total long-term debt1		146,330	136,444
Consolidated
$m	2018	2017	2016
Short-term borrowings
US commercial paper
Maximum amount outstanding at any month end	28,331	27,456	36,478
Approximate average amount outstanding	23,315	23,025	26,351
Approximate weighted average interest rate on:
Average amount outstanding	2.0%	1.3%	0.7%
Outstanding as at end of the year	2.5%	1.2%	0.9%

1Comparatives have been revised for consistency.

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Loan Capital (Tables)

12 Months Ended

Sep. 30, 2018

Disclosure of detailed information about borrowings [line items]

Schedule of loan capital

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Additional Tier 1 (AT1) loan capital
Convertible preference shares	-	1,188	-	1,188
Westpac capital notes	7,370	5,684	7,370	5,684
USD AT1 securities	1,585	1,556	1,585	1,556
Total AT1 loan capital	8,955	8,428	8,955	8,428
Tier 2 loan capital
Subordinated notes	7,822	8,789	7,822	8,789
Subordinated perpetual notes	488	449	488	449
Total Tier 2 loan capital	8,310	9,238	8,310	9,238
Total loan capital	17,265	17,666	17,265	17,666
Movement Reconciliation ($m)
Balance as at 1 October 2017	17,666		17,666
Issuances	2,342		2,342
Maturities, repayments, buy backs and reductions	(2,387)		(2,387)
Total cash movements	(45)		(45)
Foreign exchange translation impact	449		449
Fair value hedge accounting adjustments	(257)		(257)
Conversion of Convertible Preference Shares to ordinary shares1	(566)		(566)
Other (amortisation of bond issue costs, etc.)	18		18
Total non-cash movements	(356)		(356)
Balance as at 30 September 2018	17,265		17,265

1Refer to AT1 loan capital discussion in the next page and Note 41.

Additional Tier 1 (AT1) loan capital

Disclosure of detailed information about borrowings [line items]

Schedule of loan capital

	Dividend/distribution/	Potential scheduled	Optional
$m	interest rate	conversion date2	redemption date3	2018	2017
Westpac convertible preference shares (CPS)
$1,189 million CPS	(180 day bank bill rate + 3.25% p.a.)	31 March 2020	31 March 20184	-	1,188
	x (1 - Australian corporate tax rate)
Total convertible preference shares				-	1,188
Westpac capital notes (WCN)
$1,384 million WCN	(90 day bank bill rate + 3.20% p.a.)	8 March 2021	8 March 2019	1,382	1,379
	x (1 - Australian corporate tax rate)
$1,311 million WCN2	(90 day bank bill rate + 3.05% p.a.)	23 September 2024	23 September 2022	1,305	1,304
	x (1 - Australian corporate tax rate)
$1,324 million WCN3	(90 day bank bill rate + 4.00% p.a.)	22 March 2023	22 March 2021	1,316	1,313
	x (1 - Australian corporate tax rate)
$1,702 million WCN4	(90 day bank bill rate + 4.90% p.a.)	20 December 2023	20 December 2021	1,691	1,688
	x (1 - Australian corporate tax rate)
$1,690 million WCN5	(90 day bank bill rate + 3.20% p.a.)	22 September 2027	22 September 2025	1,676	-
	x (1 - Australian corporate tax rate)
Total Westpac capital notes				7,370	5,684
USD AT1 securities
US$1,250 million securities	5.000% p.a. until but excluding	n/a	21 September 20276	1,585	1,556
	21 September 2027 (first reset date).
	If not redeemed, converted or
	written-off earlier, from, and
	including, each reset date5 to, but
	excluding, the next succeeding
	reset date, at a fixed rate p.a. equal
	to the prevailing 5-year USD mid-
	market swap rate plus 2.888% p.a.
Total USD AT1 securities				1,585	1,556

1A$ unless otherwise noted.

2Conversion is subject to the satisfaction of the scheduled conversion conditions. If the conversion conditions are not satisfied on the relevant scheduled conversion date, conversion will not occur until the next distribution payment date on which the scheduled conversion conditions are satisfied.

3Westpac may elect to redeem the relevant AT1 instrument, subject to APRA’s prior written approval.

4On 13 March 2018, $623 million of CPS were transferred to the Westpac CPS nominated party for $100 each pursuant to the Westpac Capital Notes 5 reinvestment offer. Those CPS were subsequently bought back and cancelled by Westpac. On 3 April 2018, the remaining $566 million of CPS were transferred to the Westpac CPS nominated party for $100 each. Following the transfer, those remaining CPS were converted into 19,189,765 ordinary shares.

521 September 2027 and every fifth anniversary thereafter is a reset date.

6Westpac may elect to redeem on 21 September 2027 and every fifth anniversary thereafter.

Tier 2 loan capital

Disclosure of detailed information about borrowings [line items]

Schedule of loan capital

			Optional
$m	Interest rate2	Maturity date	redemption date3	2018	2017
Basel III transitional subordinated notes
US$350 million subordinated notes	Fixed 4.625% p.a.	1 June 2018	n/a	-	454
US$800 million subordinated notes	3.625% p.a. until but excluding 28 February 2018. Thereafter, if not	28 February 2023	28 February 20184	-	1,018
	redeemed, fixed rate equal to 5-year US Treasury rate + 2.90% p.a.
Basel III fully compliant subordinated notes
A$925 million subordinated notes	90 day bank bill rate + 2.30% p.a.	22 August 2023	22 August 20184	-	923
A$1,000 million subordinated notes	90 day bank bill rate + 2.05% p.a.	14 March 2024	14 March 2019	999	991
CNY1,250 million subordinated notes	4.85% p.a. until but excluding 9 February 2020. Thereafter, if not	9 February 2025	9 February 2020	252	239
	redeemed, a fixed rate per annum equal to the one-year CNH HIBOR
	reference rate plus 0.8345% p.a.
A$350 million subordinated notes	4.50% p.a. until but excluding 11 March 2022. Thereafter, if not redeemed,	11 March 2027	11 March 2022	347	350
	a fixed rate per annum equal to the five-year AUD semi-quarterly mid-swap
	reference rate plus 1.95% p.a., the sum of which will be annualised.
S$325 million subordinated notes	4.00% p.a. until but excluding 12 August 2022. Thereafter, if not redeemed,	12 August 2027	12 August 2022	330	312
	a fixed rate per annum equal to the five-year SGD swap offer rate
	plus 1.54% p.a.
A$175 million subordinated notes	4.80% p.a. until but excluding 14 June 2023. Thereafter, if not redeemed,	14 June 2028	14 June 2023	171	171
	a fixed rate per annum equal to the five-year AUD semi-quarterly mid-swap
	reference rate plus 2.65% p.a., each of which will be annualised.
US$100 million subordinated notes	Fixed 5.00% p.a.	23 February 2046	n/a	114	117
A$700 million subordinated notes	Floating 90 day bank bill rate + 3.10% p.a.	10 March 2026	10 March 2021	700	700
JPY20,000 million subordinated notes	Fixed 1.16% p.a.	19 May 2026	n/a	242	225
JPY10,200 million subordinated notes	Fixed 1.16% p.a.	2 June 2026	n/a	123	115
JPY10,000 million subordinated notes	Fixed 0.76% p.a.	9 June 2026	n/a	120	112
NZ$400 million subordinated notes	4.6950% p.a. until but excluding 1 September 2021. Thereafter, if not	1 September 2026	1 September 2021	358	357
	redeemed, a fixed rate per annum equal to the New Zealand 5-year swap
	rate on 1 September 2021 plus 2.60% p.a.
JPY8,000 million subordinated notes	0.9225% p.a until but excluding 7 October 2021. Thereafter, if not	7 October 2026	7 October 2021	97	90
	redeemed, a fixed rate per annum equal to the five-year JPY mid-swap
	rate plus 1.0005% p.a.
US$1,500 million subordinated notes	4.322% p.a. until but excluding 23 November 2026. Thereafter, if not	23 November 2031	23 November 2026	1,922	1,882
	redeemed, a fixed rate per annum equal to the five-year USD mid-swap
	rate plus 2.236% p.a.
JPY12,000 million subordinated notes	0.87% p.a. until but excluding 6 July 2022. Thereafter, if not redeemed, a	6 July 2027	6 July 2022	146	136
	fixed rate per annum equal to the five-year JPY mid-swap rate
	plus 0.78% p.a.
JPY13,500 million subordinated notes	0.868% p.a. until but excluding 6 July 2022. Thereafter, if not redeemed,	6 July 2027	6 July 2022	165	152
	a fixed rate per annum equal to the five-year JPY mid-swap rate
	plus 0.778% p.a.
HKD600 million subordinated notes	3.15% p.a. until but excluding 14 July 2022. Thereafter, if not redeemed, a	14 July 2027	14 July 2022	102	98
	fixed rate per annum equal to the five-year HKD mid-swap rate
	plus 1.34% p.a.
A$350 million subordinated notes	4.334% p.a. until but excluding 16 August 2024. Thereafter, if not	16 August 2029	16 August 2024	347	347
	redeemed, a fixed rate per annum equal to the five-year AUD
	semi-quarterly mid-swap reference rate plus 1.83% p.a., each of which will
	be annualised.
A$185 million subordinated notes	Fixed 5.00% p.a.	24 January 2048	n/a	185	-
A$250 million subordinated notes	90 day bank bill rate + 1.40% p.a.	16 February 2028	16 February 2023	250	-
A$130 million subordinated notes	Fixed 5.00% p.a.	2 March 2048	n/a	130	-
A$725 million subordinated notes	90 day bank bill rate + 1.80% p.a.	22 June 2028	22 June 2023	722	-
Total subordinated notes				7,822	8,789

1Excludes subordinated perpetual notes.

2Interest payments are made periodically as set out in the terms of the subordinated notes.

3Westpac may elect to redeem the relevant Tier 2 instrument on the optional redemption date, subject to APRA’s prior written approval. If not redeemed on the first optional redemption date, Westpac may elect to redeem the relevant Tier 2 instrument on any interest payment date after the first optional redemption date (except for US$1,500 million subordinated notes), subject to APRA’s prior written approval.

4The subordinated notes were redeemed in full on the relevant optional redemption date.

XML

Derivative financial instruments (Tables)

12 Months Ended

Sep. 30, 2018

Derivative financial instruments

Summary of fair value hedging of interest rate risk

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Change in fair value hedging instruments	(1,203)	(328)	(1,208)	(337)
Change in fair value hedge items attributed to hedged risk	1,192	292	1,197	306
Ineffectiveness in interest income	(11)	(36)	(11)	(31)

Schedule of cash flow hedge, cash inflows and outflows as a proportion to total gross cash flows and cash flow hedge ineffectiveness

	Less Than	1 Month to	3 Months	1 Year to	2 Years to	3 Years to	4 Years to	Over
	1 Month	3 Months	to 1 Year	2 Years	3 Years	4 Years	5 Years	5 Years
2018
Cash inflows	0.3%	2.1%	21.8%	23.8%	18.9%	19.1%	4.7%	9.3%
Cash outflows	0.5%	1.8%	22.4%	23.0%	19.5%	18.0%	4.9%	9.9%
2017
Cash inflows	3.2%	3.6%	15.6%	21.6%	17.5%	14.6%	14.7%	9.2%
Cash outflows	3.7%	3.6%	15.3%	20.6%	17.1%	15.4%	14.4%	9.9%

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash flow hedge ineffectiveness	(7)	14	(11)	18

Summary of notional amount and fair value of derivative financial instruments held for trading and hedging

Consolidated 2018		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	189,853	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	168,132	11	(12)	-	-	-	-	-	-	11	(12)
Swap agreements	2,863,349	15,626	(15,580)	505	(4,751)	385	(550)	-	-	16,516	(20,881)
Options	39,067	165	(167)	-	-	-	-	-	-	165	(167)
Total interest rate contracts	3,260,401	15,802	(15,759)	505	(4,751)	385	(550)	-	-	16,692	(21,060)
Foreign exchange contracts
Spot and forward contracts	784,791	6,741	(6,418)	-	-	-	-	-	(32)	6,741	(6,450)
Cross currency swap agreements2	462,949	6,561	(9,019)	726	33	1,639	(215)	-	-	8,926	(9,201)
Options	22,281	120	(184)	-	-	-	-	-	-	120	(184)
Total foreign exchange contracts	1,270,021	13,422	(15,621)	726	33	1,639	(215)	-	(32)	15,787	(15,835)
Commodity contracts	6,735	246	(300)	-	-	-	-	-	-	246	(300)
Equities	96	1	-	-	-	-	-	-	-	1	-
Credit default swaps	13,536	102	(101)	-	-	-	-	-	-	102	(101)
Total of gross derivatives	4,550,789	29,573	(31,781)	1,231	(4,718)	2,024	(765)	-	(32)	32,828	(37,296)
Impact of netting arrangements3	-	(8,222)	8,912	(375)	3,633	(130)	344	-	-	(8,727)	12,889
Total of net derivatives	4,550,789	21,351	(22,869)	856	(1,085)	1,894	(421)	-	(32)	24,101	(24,407)

Consolidated 2017		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	132,785	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	215,934	21	(20)	-	-	-	-	-	-	21	(20)
Swap agreements	2,655,134	16,438	(15,361)	446	(3,241)	498	(707)	-	-	17,382	(19,309)
Options	69,016	156	(183)	-	-	-	-	-	-	156	(183)
Total interest rate contracts	3,072,869	16,615	(15,564)	446	(3,241)	498	(707)	-	-	17,559	(19,512)
Foreign exchange contracts
Spot and forward contracts	668,896	5,781	(6,027)	-	-	-	-	19	(19)	5,800	(6,046)
Cross currency swap agreements2	444,421	6,272	(7,893)	573	4	1,006	(744)	-	-	7,851	(8,633)
Options	13,604	124	(138)	-	-	-	-	-	-	124	(138)
Total foreign exchange contracts	1,126,921	12,177	(14,058)	573	4	1,006	(744)	19	(19)	13,775	(14,817)
Commodity contracts	7,772	270	(235)	-	-	-	-	-	-	270	(235)
Equities	202	3	-	-	-	-	-	-	-	3	-
Credit default swaps	10,907	79	(78)	-	-	-	-	-	-	79	(78)
Total of gross derivatives	4,218,671	29,144	(29,935)	1,019	(3,237)	1,504	(1,451)	19	(19)	31,686	(34,642)
Impact of netting arrangements3	-	(7,332)	7,178	(149)	1,782	(172)	307	-	-	(7,653)	9,267
Total of net derivatives	4,218,671	21,812	(22,757)	870	(1,455)	1,332	(1,144)	19	(19)	24,033	(25,375)

1The fair value differential of futures contracts are settled daily with the exchange. The notional balance represents open contracts as at 30 September.

2The unrealised foreign exchange gains or losses on derivatives in hedge relationships are substantially offset by the retranslation at spot exchange rates of the foreign currency denominated debt being hedged.

3Consists of derivative trades settled directly with central clearing counterparties and their associated variation margin. Refer to Note 24.

Parent Entity 2018		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	189,853	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	168,132	11	(12)	-	-	-	-	-	-	11	(12)
Swap agreements	2,859,358	15,659	(15,751)	489	(4,568)	352	(444)	-	-	16,500	(20,763)
Options	39,067	165	(167)	-	-	-	-	-	-	165	(167)
Total interest rate contracts	3,256,410	15,835	(15,930)	489	(4,568)	352	(444)	-	-	16,676	(20,942)
Foreign exchange contracts
Spot and forward contracts	784,438	6,737	(6,417)	-	-	-	-	-	(31)	6,737	(6,448)
Cross currency swap agreements2	456,251	6,562	(9,019)	703	40	1,142	(164)	-	-	8,407	(9,143)
Options	22,281	120	(184)	-	-	-	-	-	-	120	(184)
Total foreign exchange contracts	1,262,970	13,419	(15,620)	703	40	1,142	(164)	-	(31)	15,264	(15,775)
Commodity contracts	6,735	246	(300)	-	-	-	-	-	-	246	(300)
Equities	96	1	-	-	-	-	-	-	-	1	-
Credit default swaps	13,536	102	(101)	-	-	-	-	-	-	102	(101)
Total of gross derivatives	4,539,747	29,603	(31,951)	1,192	(4,528)	1,494	(608)	-	(31)	32,289	(37,118)
Impact of netting arrangements3	-	(8,222)	8,912	(375)	3,633	(130)	344	-	-	(8,727)	12,889
Total of net derivatives	4,539,747	21,381	(23,039)	817	(895)	1,364	(264)	-	(31)	23,562	(24,229)

Parent Entity 2017		Fair Value
				Hedging						Total
	Notional	Trading		Fair Value		Cash Flow		Net Investment		Fair Value
$m	Amount	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities	Assets	Liabilities
Interest rate contracts
Futures contracts1	132,785	-	-	-	-	-	-	-	-	-	-
Forward rate agreements	215,934	21	(20)	-	-	-	-	-	-	21	(20)
Swap agreements	2,646,153	16,472	(15,549)	426	(3,008)	465	(588)	-	-	17,363	(19,145)
Options	69,016	156	(183)	-	-	-	-	-	-	156	(183)
Total interest rate contracts	3,063,888	16,649	(15,752)	426	(3,008)	465	(588)	-	-	17,540	(19,348)
Foreign exchange contracts
Spot and forward contracts	668,322	5,774	(6,024)	-	-	-	-	19	(16)	5,793	(6,040)
Cross currency swap agreements2	434,600	6,273	(7,894)	545	9	849	(454)	-	-	7,667	(8,339)
Options	13,604	124	(138)	-	-	-	-	-	-	124	(138)
Total foreign exchange contracts	1,116,526	12,171	(14,056)	545	9	849	(454)	19	(16)	13,584	(14,517)
Commodity contracts	7,772	270	(235)	-	-	-	-	-	-	270	(235)
Equities	202	3	-	-	-	-	-	-	-	3	-
Credit default swaps	10,907	79	(78)	-	-	-	-	-	-	79	(78)
Total of gross derivatives	4,199,295	29,172	(30,121)	971	(2,999)	1,314	(1,042)	19	(16)	31,476	(34,178)
Impact of netting arrangements3	-	(7,338)	7,330	(148)	1,711	(167)	226	-	-	(7,653)	9,267
Total of net derivatives	4,199,295	21,834	(22,791)	823	(1,288)	1,147	(816)	19	(16)	23,823	(24,911)

1The fair value differential of futures contracts are settled daily with the exchange. The notional balance represents open contracts as at 30 September.

2The unrealised foreign exchange gains or losses on derivatives in hedge relationships are substantially offset by the retranslation at spot exchange rates of the foreign currency denominated debt being hedged.

3Consists of derivative trades settled directly with central clearing counterparties and their associated variation margin. Refer to Note 24.

Summary of notional amount and fair value of Credit default swaps

	2018			2017
	Notional	Fair value		Notional	Fair value
$m	Amount	Asset	Liability	Amount	Asset	Liability
Credit protection bought	6,895	3	(101)	5,630	5	(78)
Credit protection sold	6,641	99	-	5,277	74	-
Total	13,536	102	(101)	10,907	79	(78)

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Financial risk (Tables)

12 Months Ended

Sep. 30, 2018

Fair values of financial assets and financial liabilities

Schedule of high level CRGs and corresponding external rating

Financial statement disclosure	Westpac CRG	Moody’s Rating	S&P Rating
Strong	A	Aaa – Aa3	AAA – AA–
	B	A1 – A3	A+ – A–
	C	Baa1 – Baa3	BBB+ – BBB–
Good/satisfactory	D	Ba1 – B1	BB+ – B+
		Westpac Rating
Weak	E	Watchlist
	F	Special Mention
Weak/default/non-performing	G	Substandard/Default
	H	Default

Schedule of credit risk exposure

		2018			2017
		Undrawn			Undrawn
	Total on	credit		Total on	credit
Consolidated	balance	commit-		balance	commit-
$m	sheet	ments	Total	sheet	ments	Total
Australia
Accommodation, cafes and restaurants	8,306	1,404	9,710	8,189	1,468	9,657
Agriculture, forestry and fishing	8,651	2,035	10,686	8,193	2,155	10,348
Construction	6,756	3,324	10,080	6,050	3,666	9,716
Finance and insurance	57,153	7,781	64,934	59,432	8,415	67,847
Government, administration and defence	49,830	728	50,558	49,341	813	50,154
Manufacturing	9,968	5,738	15,706	9,784	6,186	15,970
Mining	3,637	3,079	6,716	3,411	3,568	6,979
Property	45,814	12,309	58,123	43,640	12,046	55,686
Property services and business services	13,561	5,596	19,157	12,119	5,145	17,264
Services	12,297	5,700	17,997	13,198	6,082	19,280
Trade	16,809	7,951	24,760	16,401	8,712	25,113
Transport and storage	9,587	4,958	14,545	9,554	6,038	15,592
Utilities	5,281	3,471	8,752	6,418	4,216	10,634
Retail lending	463,609	86,421	550,030	451,315	88,363	539,678
Other	6,781	1,597	8,378	4,360	1,519	5,879
Total Australia	718,040	152,092	870,132	701,405	158,392	859,797
New Zealand
Accommodation, cafes and restaurants	323	39	362	290	42	332
Agriculture, forestry and fishing	8,188	684	8,872	7,809	745	8,554
Construction	504	429	933	450	397	847
Finance and insurance	6,919	1,437	8,356	7,626	2,038	9,664
Government, administration and defence	4,767	691	5,458	5,051	549	5,600
Manufacturing	2,307	1,577	3,884	2,185	1,527	3,712
Mining	213	101	314	144	197	341
Property	6,236	1,035	7,271	5,901	1,039	6,940
Property services and business services	1,108	512	1,620	1,142	405	1,547
Services	1,758	613	2,371	1,834	604	2,438
Trade	2,568	1,023	3,591	2,215	1,176	3,391
Transport and storage	1,102	791	1,893	1,118	847	1,965
Utilities	1,415	1,564	2,979	1,822	1,302	3,124
Retail lending	46,614	12,114	58,728	45,190	11,995	57,185
Other	1	245	246	3	227	230
Total New Zealand	84,023	22,855	106,878	82,780	23,090	105,870
Other overseas
Accommodation, cafes and restaurants	112	12	124	97	13	110
Agriculture, forestry and fishing	19	1	20	5	1	6
Construction	71	121	192	55	242	297
Finance and insurance	7,845	3,454	11,299	7,713	3,182	10,895
Government, administration and defence	4,246	50	4,296	3,071	1	3,072
Manufacturing	3,364	4,849	8,213	3,107	4,259	7,366
Mining	353	1,793	2,146	378	1,518	1,896
Property	467	57	524	491	40	531
Property services and business services	1,754	733	2,487	542	508	1,050
Services	207	448	655	205	105	310
Trade	2,993	3,330	6,323	2,680	2,458	5,138
Transport and storage	1,232	222	1,454	1,426	437	1,863
Utilities	763	329	1,092	544	260	804
Retail lending	683	45	728	657	37	694
Other	178	6	184	78	8	86
Total other overseas	24,287	15,450	39,737	21,049	13,069	34,118
Total gross credit risk	826,350	190,397	1,016,747	805,234	194,551	999,785

		2018			2017
		Undrawn			Undrawn
	Total on	credit		Total on	credit
Parent Entity	balance	commit-		balance	commit-
$m	sheet	ments	Total	sheet	ments	Total
Australia
Accommodation, cafes and restaurants	8,237	1,404	9,641	8,110	1,468	9,578
Agriculture, forestry and fishing	8,593	2,035	10,628	8,073	2,155	10,228
Construction	6,252	3,324	9,576	5,447	3,666	9,113
Finance and insurance	56,687	7,781	64,468	58,589	8,415	67,004
Government, administration and defence	49,824	728	50,552	49,330	813	50,143
Manufacturing	9,742	5,738	15,480	9,511	6,186	15,697
Mining	3,605	3,078	6,683	3,371	3,568	6,939
Property	45,812	12,309	58,121	43,641	12,043	55,684
Property services and business services	12,517	5,595	18,112	11,047	5,143	16,190
Services	12,029	5,700	17,729	12,853	6,081	18,934
Trade	16,598	7,949	24,547	16,098	8,691	24,789
Transport and storage	9,190	4,957	14,147	9,097	6,038	15,135
Utilities	5,255	3,471	8,726	6,386	4,216	10,602
Retail lending	462,568	86,421	548,989	449,207	88,362	537,569
Other	5,949	1,574	7,523	3,385	1,518	4,903
Total Australia	712,858	152,064	864,922	694,145	158,363	852,508
New Zealand
Accommodation, cafes and restaurants	-	-	-	-	-	-
Agriculture, forestry and fishing	52	7	59	38	7	45
Construction	7	22	29	6	13	19
Finance and insurance	2,761	50	2,811	3,230	56	3,286
Government, administration and defence	994	29	1,023	929	23	952
Manufacturing	206	97	303	183	110	293
Mining	7	1	8	3	3	6
Property	52	8	60	43	10	53
Property services and business services	43	31	74	38	57	95
Services	25	44	69	25	64	89
Trade	322	234	556	269	216	485
Transport and storage	73	87	160	38	89	127
Utilities	372	146	518	498	128	626
Retail lending	1	19	20	-	33	33
Other	1	1	2	5	4	9
Total New Zealand	4,916	776	5,692	5,305	813	6,118
Other overseas
Accommodation, cafes and restaurants	70	12	82	88	13	101
Agriculture, forestry and fishing	4	1	5	4	1	5
Construction	59	113	172	44	237	281
Finance and insurance	7,641	3,442	11,083	7,420	3,161	10,581
Government, administration and defence	3,469	50	3,519	2,449	1	2,450
Manufacturing	3,359	4,741	8,100	3,089	4,166	7,255
Mining	354	1,791	2,145	378	1,516	1,894
Property	234	31	265	288	34	322
Property services and business services	1,665	730	2,395	527	507	1,034
Services	188	445	633	74	101	175
Trade	2,807	3,216	6,023	2,446	2,354	4,800
Transport and storage	1,127	214	1,341	1,196	414	1,610
Utilities	761	329	1,090	538	259	797
Retail lending	277	40	317	280	34	314
Other	99	4	103	82	5	87
Total other overseas	22,114	15,159	37,273	18,903	12,803	31,706
Total gross credit risk	739,888	167,999	907,887	718,353	171,979	890,332

Schedule of credit quality of financial assets

	Neither past due nor impaired
					Past due				Total
Consolidated 2018		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	5,775	15	-	5,790	-	-	5,790	-	5,790
Trading securities and financial assets designated at fair value1	21,720	145	-	21,865	-	-	21,865	-	21,865
Derivative financial instruments	23,692	406	3	24,101	-	-	24,101	-	24,101
Available-for-sale securities1	60,229	506	-	60,735	-	-	60,735	-	60,735
Loans:
Loans - housing and personal	379,383	114,627	4,365	498,375	16,162	687	515,224	(1,303)	513,921
Loans - business	90,408	97,369	4,481	192,258	4,293	729	197,280	(1,511)	195,769
Regulatory deposits with central banks overseas	1,122	233	-	1,355	-	-	1,355	-	1,355
Other financial assets2	4,064	392	18	4,474	37	3	4,514	-	4,514
Total	586,393	213,693	8,867	808,953	20,492	1,419	830,864	(2,814)	828,050

	Neither past due nor impaired
					Past due				Total
Consolidated 2017		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	7,119	9	-	7,128	-	-	7,128	-	7,128
Trading securities and financial assets designated at fair value1	24,973	22	-	24,995	-	-	24,995	-	24,995
Derivative financial instruments	23,184	815	33	24,032	-	1	24,033	-	24,033
Available-for-sale securities1	59,752	493	-	60,245	-	-	60,245	-	60,245
Loans:
Loans - housing and personal	363,026	113,363	3,542	479,931	16,539	681	497,151	(1,331)	495,820
Loans - business	86,437	95,556	4,507	186,500	3,273	861	190,634	(1,535)	189,099
Regulatory deposits with central banks overseas	814	234	-	1,048	-	-	1,048	-	1,048
Other financial assets2	4,340	364	14	4,718	34	3	4,755	-	4,755
Total3	569,645	210,856	8,096	788,597	19,846	1,546	809,989	(2,866)	807,123

1Equity securities are excluded from these balances and as a result the total carrying value will not represent the balance reported on the balance sheet.

2Other financial assets include accrued interest of $1,276 million (2017: $1,193 million) which is allocated to the relevant credit quality classifications in proportion to the loan balances to which it relates. Securities sold not yet delivered of $1,264 million (2017: $1,408 million) are also included in this balance which is allocated proportionately based on the trading securities balance classifications.

3Comparatives have been revised for consistency.

	Neither past due nor impaired
					Past due				Total
Parent Entity 2018		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	5,709	2	-	5,711	-	-	5,711	-	5,711
Trading securities and financial assets designated at fair value1	20,201	145	-	20,346	-	-	20,346	-	20,346
Derivative financial instruments	23,155	404	3	23,562	-	-	23,562	-	23,562
Available-for-sale securities1	56,443	3	-	56,446	-	-	56,446	-	56,446
Loans:
Loans - housing and personal	359,843	87,667	4,050	451,560	15,044	572	467,176	(1,125)	466,051
Loans - business	76,995	80,572	3,412	160,979	3,838	582	165,399	(1,282)	164,117
Regulatory deposits with central banks overseas	1,122	126	-	1,248	-	-	1,248	-	1,248
Due from subsidiaries	140,597	-	-	140,597	-	-	140,597	-	140,597
Other financial assets2	3,321	306	15	3,642	33	2	3,677	-	3,677
Total	687,386	169,225	7,480	864,091	18,915	1,156	884,162	(2,407)	881,755

	Neither past due nor impaired
					Past due				Total
Parent Entity 2017		Good/			but not			Impairment	carrying
$m	Strong	Satisfactory	Weak	Total	impaired	Impaired	Total	provision	value
Receivables due from other financial institutions	6,352	5	-	6,357	-	-	6,357	-	6,357
Trading securities and financial assets designated at fair value1	22,870	5	-	22,875	-	-	22,875	-	22,875
Derivative financial instruments	22,974	815	33	23,822	-	1	23,823	-	23,823
Available-for-sale securities1	55,737	6	-	55,743	-	-	55,743	-	55,743
Loans:
Loans - housing and personal	344,739	85,673	3,223	433,635	15,312	542	449,489	(1,091)	448,398
Loans - business	74,019	78,584	2,981	155,584	2,843	694	159,121	(1,282)	157,839
Regulatory deposits with central banks overseas	814	131	-	945	-	-	945	-	945
Due from subsidiaries	142,455	-	-	142,455	-	-	142,455	-	142,455
Other financial assets2	3,681	278	10	3,969	31	2	4,002	-	4,002
Total3	673,641	165,497	6,247	845,385	18,186	1,239	864,810	(2,373)	862,437

1Equity securities are excluded from these balances and as a result the total carrying value will not represent the balance reported on the balance sheet.

2Other financial assets include accrued interest of $1,103 million (2017: $1,029 million) which is allocated to the relevant credit quality classifications in proportion to the loan balances to which it relates. Securities sold not yet delivered of $1,264 million (2017: $1,388 million) are also included in this balance which is allocated proportionately based on the trading securities balance classifications.

3Comparatives have been revised for consistency.

Summary of financial assets past due but not impaired, disaggregated by days overdue

Consolidated		2018				2017
$m	1-5 days	6-89 days	90+ days	Total	1-5 days	6-89 days	90+ days	Total
Loans:
Loans - housing and personal	3,440	9,688	3,034	16,162	4,515	9,331	2,693	16,539
Loans - business	1,170	2,558	565	4,293	698	2,085	490	3,273
Other financial assets	8	23	6	37	9	19	6	34
Total	4,618	12,269	3,605	20,492	5,222	11,435	3,189	19,846

Parent Entity		2018				2017
$m	1-5 days	6-89 days	90+ days	Total	1-5 days	6-89 days	90+ days	Total
Loans:
Loans - housing and personal	3,179	8,895	2,970	15,044	4,216	8,471	2,625	15,312
Loans - business	1,054	2,285	499	3,838	603	1,810	430	2,843
Other financial assets	7	20	6	33	8	18	5	31
Total	4,240	11,200	3,475	18,915	4,827	10,299	3,060	18,186

Summary of financial assets in default and not impaired

Consolidated	Gross amount
$m	2018	2017	2016
Australia	3,861	3,322	3,075
New Zealand	127	117	89
Other overseas	29	19	17
Total	4,017	3,458	3,181

Schedule of gross amount of impaired loans and provision for impairment

Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
$m	Personal	Business	Total	Personal	Business	Total
Individually impaired
Gross amount	165	532	697	164	692	856
Impairment provision	(106)	(316)	(422)	(104)	(376)	(480)
Carrying amount	59	216	275	60	316	376
Collectively impaired
Gross amount	522	197	719	517	169	686
Impairment provision	(196)	(35)	(231)	(202)	(32)	(234)
Carrying amount	326	162	488	315	137	452
Total gross amount	687	729	1,416	681	861	1,542
Total impairment provision	(302)	(351)	(653)	(306)	(408)	(714)
Total carrying amount	385	378	763	375	453	828
Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
$m	Personal	Business	Total	Personal	Business	Total
Individually impaired
Gross amount	130	400	530	121	534	655
Impairment provision	(85)	(290)	(375)	(83)	(334)	(417)
Carrying amount	45	110	155	38	200	238
Collectively impaired
Gross amount	442	182	624	421	160	581
Impairment provision	(156)	(15)	(171)	(162)	(17)	(179)
Carrying amount	286	167	453	259	143	402
Total gross amount	572	582	1,154	542	694	1,236
Total impairment provision	(241)	(305)	(546)	(245)	(351)	(596)
Total carrying amount	331	277	608	297	343	640

Schedule of gross amount of impaired loans and provision for impairment by type and geography

Consolidated
$m	2018	2017	2016	2015	2014
Australia
Non-performing loans
Gross amount	882	975	1,589	1,220	1,580
Impairment provision	(422)	(460)	(769)	(572)	(697)
Net	460	515	820	648	883
Restructured loans
Gross amount	9	12	13	22	34
Impairment provision	(1)	(7)	(11)	(12)	(23)
Net	8	5	2	10	11
Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Gross amount	358	362	267	252	203
Impairment provision	(179)	(187)	(159)	(164)	(132)
Net	179	175	108	88	71
New Zealand
Non-performing loans
Gross amount	124	152	218	348	397
Impairment provision	(30)	(41)	(95)	(104)	(130)
Net	94	111	123	244	267
Restructured loans
Gross amount	14	15	16	17	-
Impairment provision	(4)	(5)	(4)	(4)	-
Net	10	10	12	13	-
Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Gross amount	12	11	10	10	13
Impairment provision	(9)	(8)	(7)	(7)	(9)
Net	3	3	3	3	4
Other overseas
Non-performing loans
Gross amount	13	15	44	25	53
Impairment provision	(6)	(6)	(21)	(13)	(35)
Net	7	9	23	12	18
Restructured loans
Gross amount	3	-	2	-	59
Impairment provision	(1)	-	(1)	-	(21)
Net	2	-	1	-	38
Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Gross amount	1	-	-	1	1
Impairment provision	(1)	-	-	(1)	-
Net	-	-	-	-	1
Total net impaired assets	763	828	1,092	1,018	1,293

Summary of interest received and forgone on non-performing loans and restructured financial assets

Consolidated 2018
$m	Australia	Overseas	Total
Interest received	3	8	11
Interest forgone	31	-	31

Summary of collateral held against financial assets other than loans

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash, primarily for derivatives	2,187	2,480	1,751	2,354
Securities under reverse repurchase agreements1	1,404	6,814	1,404	6,814
Securities under derivatives and stock borrowing1	28	32	28	32
Total other collateral held	3,619	9,326	3,183	9,200

1Securities received as collateral are not recognised on the Group and Parent Entity’s balance sheet.

Summary of the Group's liquid asset holdings

	2018		2017
$m	Actual	Average	Actual	Average
Cash	25,476	21,912	17,339	20,594
Receivables due from other financial institutions	816	745	834	662
Trading securities and financial assets designated at fair value	10,529	9,412	11,405	12,891
Available-for-sale securities	60,667	62,892	59,735	59,887
Loans1	55,500	55,336	47,935	48,561
Regulatory deposits with central banks	706	639	549	628
Total liquid assets	153,694	150,936	137,797	143,223

1Loans are self-originated AAA rated mortgage backed securities which are eligible for repurchase with the RBA and Reserve Bank of New Zealand.

Summary of Group's funding composition

%	2018	2017
Customer deposits	63.1	61.8
Wholesale term funding with residual maturity greater than 12 months	15.7	15.2
Wholesale funding with a residual maturity less than 12 months	12.4	14.1
Securitisation	0.9	1.0
Equity	7.9	7.9
Group’s total funding	100.0	100.0

Schedule of Parent Entity's credit ratings

2018	Short-term	Long-term	Outlook
S&P Global Ratings	A-1+	AA-	Negative
Moody’s Investors Service	P-1	Aa3	Stable
Fitch Ratings	F1+	AA-	Stable

Summary of financial assets pledged as collateral

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Cash1	4,754	5,687	4,690	5,315
Cash deposit on stock borrowed	14	15	14	15
Securities (including certificates of deposit)	1,544	1,421	1,544	1,421
Securities pledged under repurchase agreements	12,492	18,746	12,492	18,728
Total amount pledged to secure liabilities	18,804	25,869	18,740	25,479

1Primarily comprised of receivables due from other financial institutions.

Schedule of contractual maturity of financial liabilities - derivative financial instruments

Consolidated 2018	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	15,242	1,754	1,040	160	-	18,196
Deposits and other borrowings	352,941	85,726	108,427	16,771	75	563,940
Other financial liabilities at fair value through income statement	4,197	100	-	-	-	4,297
Derivative financial instruments:
Held for trading	22,869	-	-	-	-	22,869
Held for hedging purposes (net settled)	68	95	377	741	96	1,377
Held for hedging purposes (gross settled):
Cash outflow	2,680	5,140	406	2,799	1,258	12,283
Cash inflow	(2,658)	(5,096)	(337)	(2,527)	(1,178)	(11,796)
Debt issues	1,743	7,502	48,848	100,245	31,892	190,230
Other financial liabilities	1,639	591	2,657	-	-	4,887
Total financial liabilities excluding loan capital	398,721	95,812	161,418	118,189	32,143	806,283
Loan capital	8	79	253	4,866	16,509	21,715
Total undiscounted financial liabilities	398,729	95,891	161,671	123,055	48,652	827,998
Total contingent liabilities and commitments
Letters of credit and guarantees	15,585	-	-	-	-	15,585
Commitments to extend credit	174,658	-	-	-	-	174,658
Other commitments	154	-	-	-	-	154
Total undiscounted contingent liabilities and commitments	190,397	-	-	-	-	190,397

Consolidated 2017	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	16,496	4,438	1,014	23	-	21,971
Deposits and other borrowings	337,821	76,557	102,306	20,605	197	537,486
Other financial liabilities at fair value through income statement	3,253	803	-	-	-	4,056
Derivative financial instruments:
Held for trading	22,757	-	-	-	-	22,757
Held for hedging purposes (net settled)	98	146	489	1,088	108	1,929
Held for hedging purposes (gross settled):
Cash outflow	865	3,368	1,039	5,617	2,057	12,946
Cash inflow	(737)	(3,275)	(821)	(4,634)	(1,745)	(11,212)
Debt issues	3,111	10,492	46,730	101,045	18,796	180,174
Other financial liabilities	1,603	575	2,586	-	-	4,764
Total financial liabilities excluding
loan capital	385,267	93,104	153,343	123,744	19,413	774,871
Loan capital	5	86	729	4,781	16,548	22,149
Total undiscounted financial liabilities	385,272	93,190	154,072	128,525	35,961	797,020
Total contingent liabilities
and commitments
Letters of credit and guarantees	15,460	-	-	-	-	15,460
Commitments to extend credit	178,443	-	-	-	-	178,443
Other commitments	648	-	-	-	-	648
Total undiscounted contingent
liabilities and commitments	194,551	-	-	-	-	194,551
Parent Entity 2018	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	14,788	1,753	1,040	160	-	17,741
Deposits and other borrowings	320,365	74,530	94,855	14,606	75	504,431
Other financial liabilities at fair value through income statement	4,197	100	-	-	-	4,297
Derivative financial instruments:
Held for trading	23,039	-	-	-	-	23,039
Held for hedging purposes (net settled)	51	55	271	608	96	1,081
Held for hedging purposes (gross settled):
Cash outflow	2,632	4,725	377	2,174	726	10,634
Cash inflow	(2,615)	(4,687)	(324)	(2,043)	(644)	(10,313)
Debt issues	1,588	7,117	45,527	85,106	29,329	168,667
Due to subsidiaries	142,400	-	-	-	-	142,400
Other financial liabilities	1,598	510	2,294	-	-	4,402
Total financial liabilities excluding loan capital	508,043	84,103	144,040	100,611	29,582	866,379
Loan capital	8	79	253	4,866	16,509	21,715
Total undiscounted financial liabilities	508,051	84,182	144,293	105,477	46,091	888,094
Total contingent liabilities and commitments
Letters of credit and guarantees	14,957	-	-	-	-	14,957
Commitments to extend credit	152,943	-	-	-	-	152,943
Other commitments	99	-	-	-	-	99
Total undiscounted contingent liabilities and commitments	167,999	-	-	-	-	167,999

Parent Entity 2017	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	16,364	4,438	1,014	23	-	21,839
Deposits and other borrowings	306,013	65,078	91,055	18,618	197	480,961
Other financial liabilities at fair value
through income statement	3,235	803	-	-	-	4,038
Derivative financial instruments:
Held for trading	22,791	-	-	-	-	22,791
Held for hedging purposes (net settled)	83	128	409	1,000	106	1,726
Held for hedging purposes (gross settled):
Cash outflow	11	2,929	820	2,796	1,294	7,850
Cash inflow	-	(2,861)	(680)	(2,376)	(1,052)	(6,969)
Debt issues	2,069	9,127	42,116	84,960	16,270	154,542
Due to subsidiaries	143,834	-	-	-	-	143,834
Other financial liabilities	1,576	523	2,353	-	-	4,452
Total financial liabilities excluding loan capital	495,976	80,165	137,087	105,021	16,815	835,064
Loan capital	5	86	729	4,781	16,548	22,149
Total undiscounted financial liabilities	495,981	80,251	137,816	109,802	33,363	857,213
Total contingent liabilities and commitments
Letters of credit and guarantees	14,908	-	-	-	-	14,908
Commitments to extend credit	156,423	-	-	-	-	156,423
Other commitments	648	-	-	-	-	648
Total undiscounted contingent liabilities and commitments	171,979	-	-	-	-	171,979

Schedule of contractual maturity of financial liabilities - other financial liabilities

Consolidated 2018	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	15,242	1,754	1,040	160	-	18,196
Deposits and other borrowings	352,941	85,726	108,427	16,771	75	563,940
Other financial liabilities at fair value through income statement	4,197	100	-	-	-	4,297
Derivative financial instruments:
Held for trading	22,869	-	-	-	-	22,869
Held for hedging purposes (net settled)	68	95	377	741	96	1,377
Held for hedging purposes (gross settled):
Cash outflow	2,680	5,140	406	2,799	1,258	12,283
Cash inflow	(2,658)	(5,096)	(337)	(2,527)	(1,178)	(11,796)
Debt issues	1,743	7,502	48,848	100,245	31,892	190,230
Other financial liabilities	1,639	591	2,657	-	-	4,887
Total financial liabilities excluding loan capital	398,721	95,812	161,418	118,189	32,143	806,283
Loan capital	8	79	253	4,866	16,509	21,715
Total undiscounted financial liabilities	398,729	95,891	161,671	123,055	48,652	827,998
Total contingent liabilities and commitments
Letters of credit and guarantees	15,585	-	-	-	-	15,585
Commitments to extend credit	174,658	-	-	-	-	174,658
Other commitments	154	-	-	-	-	154
Total undiscounted contingent liabilities and commitments	190,397	-	-	-	-	190,397

Consolidated 2017	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	16,496	4,438	1,014	23	-	21,971
Deposits and other borrowings	337,821	76,557	102,306	20,605	197	537,486
Other financial liabilities at fair value through income statement	3,253	803	-	-	-	4,056
Derivative financial instruments:
Held for trading	22,757	-	-	-	-	22,757
Held for hedging purposes (net settled)	98	146	489	1,088	108	1,929
Held for hedging purposes (gross settled):
Cash outflow	865	3,368	1,039	5,617	2,057	12,946
Cash inflow	(737)	(3,275)	(821)	(4,634)	(1,745)	(11,212)
Debt issues	3,111	10,492	46,730	101,045	18,796	180,174
Other financial liabilities	1,603	575	2,586	-	-	4,764
Total financial liabilities excluding
loan capital	385,267	93,104	153,343	123,744	19,413	774,871
Loan capital	5	86	729	4,781	16,548	22,149
Total undiscounted financial liabilities	385,272	93,190	154,072	128,525	35,961	797,020
Total contingent liabilities
and commitments
Letters of credit and guarantees	15,460	-	-	-	-	15,460
Commitments to extend credit	178,443	-	-	-	-	178,443
Other commitments	648	-	-	-	-	648
Total undiscounted contingent
liabilities and commitments	194,551	-	-	-	-	194,551
Parent Entity 2018	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	14,788	1,753	1,040	160	-	17,741
Deposits and other borrowings	320,365	74,530	94,855	14,606	75	504,431
Other financial liabilities at fair value through income statement	4,197	100	-	-	-	4,297
Derivative financial instruments:
Held for trading	23,039	-	-	-	-	23,039
Held for hedging purposes (net settled)	51	55	271	608	96	1,081
Held for hedging purposes (gross settled):
Cash outflow	2,632	4,725	377	2,174	726	10,634
Cash inflow	(2,615)	(4,687)	(324)	(2,043)	(644)	(10,313)
Debt issues	1,588	7,117	45,527	85,106	29,329	168,667
Due to subsidiaries	142,400	-	-	-	-	142,400
Other financial liabilities	1,598	510	2,294	-	-	4,402
Total financial liabilities excluding loan capital	508,043	84,103	144,040	100,611	29,582	866,379
Loan capital	8	79	253	4,866	16,509	21,715
Total undiscounted financial liabilities	508,051	84,182	144,293	105,477	46,091	888,094
Total contingent liabilities and commitments
Letters of credit and guarantees	14,957	-	-	-	-	14,957
Commitments to extend credit	152,943	-	-	-	-	152,943
Other commitments	99	-	-	-	-	99
Total undiscounted contingent liabilities and commitments	167,999	-	-	-	-	167,999

Parent Entity 2017	Up to	Over 1 Month	Over 3 Months	Over 1 Year	Over
$m	1 Month	to 3 Months	to 1 Year	to 5 Years	5 Years	Total
Financial liabilities
Payables due to other financial institutions	16,364	4,438	1,014	23	-	21,839
Deposits and other borrowings	306,013	65,078	91,055	18,618	197	480,961
Other financial liabilities at fair value
through income statement	3,235	803	-	-	-	4,038
Derivative financial instruments:
Held for trading	22,791	-	-	-	-	22,791
Held for hedging purposes (net settled)	83	128	409	1,000	106	1,726
Held for hedging purposes (gross settled):
Cash outflow	11	2,929	820	2,796	1,294	7,850
Cash inflow	-	(2,861)	(680)	(2,376)	(1,052)	(6,969)
Debt issues	2,069	9,127	42,116	84,960	16,270	154,542
Due to subsidiaries	143,834	-	-	-	-	143,834
Other financial liabilities	1,576	523	2,353	-	-	4,452
Total financial liabilities excluding loan capital	495,976	80,165	137,087	105,021	16,815	835,064
Loan capital	5	86	729	4,781	16,548	22,149
Total undiscounted financial liabilities	495,981	80,251	137,816	109,802	33,363	857,213
Total contingent liabilities and commitments
Letters of credit and guarantees	14,908	-	-	-	-	14,908
Commitments to extend credit	156,423	-	-	-	-	156,423
Other commitments	648	-	-	-	-	648
Total undiscounted contingent liabilities and commitments	171,979	-	-	-	-	171,979

Schedule of expected maturity of assets and liabilities

Consolidated 2018	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	26,431	-	26,431
Receivables due from other financial institutions	5,790	-	5,790
Trading securities and financial assets designated at fair value	11,869	10,265	22,134
Derivative financial instruments	17,828	6,273	24,101
Available-for-sale securities	6,959	54,160	61,119
Loans (net of provisions)	94,717	614,973	709,690
Life insurance assets	1,598	7,852	9,450
Regulatory deposits with central banks overseas	679	676	1,355
Investments in associates	-	115	115
All other assets	5,522	13,885	19,407
Total assets	171,393	708,199	879,592
Liabilities
Payables due to other financial institutions	17,988	149	18,137
Deposits and other borrowings	543,198	16,087	559,285
Other financial liabilities at fair value through income statement	4,297	-	4,297
Derivative financial instruments	17,346	7,061	24,407
Debt issues	53,930	118,666	172,596
Life insurance liabilities	1,547	6,050	7,597
All other liabilities	10,667	768	11,435
Total liabilities excluding loan capital	648,973	148,781	797,754
Loan capital	1,382	15,883	17,265
Total liabilities	650,355	164,664	815,019
Net assets/(net liabilities)	(478,962)	543,535	64,573

Consolidated 2017	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	18,397	-	18,397
Receivables due from other financial institutions	7,128	-	7,128
Trading securities and financial assets designated at fair value	11,258	14,066	25,324
Derivative financial instruments	18,346	5,687	24,033
Available-for-sale securities	7,988	52,722	60,710
Loans (net of provisions)	88,676	596,243	684,919
Life insurance assets	1,514	9,129	10,643
Regulatory deposits with central banks overseas	676	372	1,048
Investments in associates	-	60	60
All other assets	5,681	13,932	19,613
Total assets	159,664	692,211	851,875
Liabilities
Payables due to other financial institutions	21,885	22	21,907
Deposits and other borrowings	512,856	20,735	533,591
Other financial liabilities at fair value through income statement	4,056	-	4,056
Derivative financial instruments	18,435	6,940	25,375
Debt issues	56,952	111,404	168,356
Life insurance liabilities	1,457	7,562	9,019
All other liabilities	9,907	656	10,563
Total liabilities excluding loan capital	625,548	147,319	772,867
Loan capital	1,641	16,025	17,666
Total liabilities	627,189	163,344	790,533
Net assets/(net liabilities)	(467,525)	528,867	61,342
Parent Entity 2018	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	24,726	-	24,726
Receivables due from other financial institutions	5,711	-	5,711
Trading securities and financial assets designated at fair value	11,145	9,272	20,417
Derivative financial instruments	17,677	5,885	23,562
Available-for-sale securities	4,846	51,667	56,513
Loans (net of provisions)	76,389	553,779	630,168
Regulatory deposits with central banks overseas	571	677	1,248
Due from subsidiaries	140,597	-	140,597
Investments in associates	-	76	76
Investments in subsidiaries	-	4,508	4,508
All other assets	4,358	11,346	15,704
Total assets	286,020	637,210	923,230
Liabilities
Payables due to other financial institutions	17,533	149	17,682
Deposits and other borrowings	486,418	14,050	500,468
Other financial liabilities at fair value through income statement	4,297	-	4,297
Derivative financial instruments	17,317	6,912	24,229
Debt issues	50,499	101,789	152,288
Due to subsidiaries	142,400	-	142,400
All other liabilities	8,569	676	9,245
Total liabilities excluding loan capital	727,033	123,576	850,609
Loan capital	1,382	15,883	17,265
Total liabilities	728,415	139,459	867,874
Net assets/(net liabilities)	(442,395)	497,751	55,356

Parent Entity 2017	Due within	Greater than
$m	12 Months	12 Months	Total
Assets
Cash and balances with central banks	16,405	-	16,405
Receivables due from other financial institutions	6,357	-	6,357
Trading securities and financial assets designated at fair value	9,812	13,134	22,946
Derivative financial instruments	18,340	5,483	23,823
Available-for-sale securities	6,447	49,353	55,800
Loans (net of provisions)	70,868	535,369	606,237
Regulatory deposits with central banks overseas	573	372	945
Due from subsidiaries	142,455	-	142,455
Investments in associates	-	46	46
Investments in subsidiaries	-	3,975	3,975
All other assets	4,649	11,231	15,880
Total assets	275,906	618,963	894,869
Liabilities
Payables due to other financial institutions	21,753	22	21,775
Deposits and other borrowings	458,829	18,864	477,693
Other financial liabilities at fair value through income statement	4,038	-	4,038
Derivative financial instruments	18,321	6,590	24,911
Debt issues	50,415	93,701	144,116
Due to subsidiaries	143,834	-	143,834
All other liabilities	8,060	595	8,655
Total liabilities excluding loan capital	705,250	119,772	825,022
Loan capital	1,641	16,025	17,666
Total liabilities	706,891	135,797	842,688
Net assets/(net liabilities)	(430,985)	483,166	52,181

Summary of aggregate VaR, by risk type

The key parameters of VaR are:

Holding period	1 day
Confidence level	99%
Period of historical data used	1 year

The table below depicts the aggregate VaR, by risk type, for the year ended 30 September:

Consolidated and Parent Entity	2018			2017			2016
$m	High	Low	Average	High	Low	Average	High	Low	Average
Interest rate risk	15.6	5.1	8.6	16.0	4.6	8.5	14.0	4.6	8.8
Foreign exchange risk	6.9	0.7	3.0	9.4	0.6	3.1	12.2	1.4	5.1
Equity risk	1.0	0.0	0.1	0.4	0.0	0.1	2.9	0.1	0.3
Commodity risk1	24.3	1.7	6.5	14.1	3.3	6.6	4.5	1.4	2.7
Other market risks2	5.8	1.4	3.8	5.1	3.5	4.2	6.0	2.6	3.6
Diversification effect	n/a	n/a	(8.6)	n/a	n/a	(8.6)	n/a	n/a	(8.0)
Net market risk	28.1	6.7	13.4	22.9	9.7	13.9	18.7	7.7	12.5

Summary of net interest income-at-risk (NaR)

	2018				2017
		Maximum	Minimum	Average		Maximum	Minimum	Average
% (increase)/decrease in net interest income	As at	Exposure	Exposure	Exposure	As at	Exposure	Exposure	Exposure
Consolidated	0.01	0.78	(0.09)	0.27	0.62	0.62	(0.01)	0.31
Parent Entity	(0.22)	0.51	(0.28)	0.04	0.34	0.34	(0.33)	0.05

Summary of Value at Risk - IRRBB

	2018				2017
$m	As at	High	Low	Average	As at	High	Low	Average
Consolidated	23.2	57.0	23.2	32.5	57.3	57.3	27.0	40.8

Neither past due nor impaired

Fair values of financial assets and financial liabilities

Schedule of loan portfolio having coverage from collateral held

Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	97.5	55.8	85.9	97.0	54.0	84.9
Partially secured	0.6	22.9	6.8	0.9	25.7	7.9
Unsecured	1.9	21.3	7.3	2.1	20.3	7.2
Total	100.0	100.0	100.0	100.0	100.0	100.0
Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	98.1	57.8	87.5	97.9	55.4	86.7
Partially secured	0.3	20.4	5.6	0.3	23.7	6.5
Unsecured	1.6	21.8	6.9	1.8	20.9	6.8
Total	100.0	100.0	100.0	100.0	100.0	100.0

Past due but not impaired

Fair values of financial assets and financial liabilities

Schedule of loan portfolio having coverage from collateral held

Past due but not impaired
Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	94.6	52.8	85.8	93.9	58.2	87.9
Partially secured	2.0	28.2	7.5	2.6	28.3	6.9
Unsecured	3.4	19.0	6.7	3.5	13.5	5.2
Total	100.0	100.0	100.0	100.0	100.0	100.0

Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	95.7	54.7	87.3	96.4	60.2	90.8
Partially secured	1.5	25.0	6.3	0.6	25.7	4.5
Unsecured	2.8	20.3	6.4	3.0	14.1	4.7
Total	100.0	100.0	100.0	100.0	100.0	100.0

Impaired

Fair values of financial assets and financial liabilities

Schedule of loan portfolio having coverage from collateral held

Consolidated	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	72.8	32.0	51.8	69.5	17.3	40.3
Partially secured	10.0	11.5	10.8	10.7	25.7	19.1
Unsecured	17.2	56.5	37.4	19.8	57.0	40.6
Total	100.0	100.0	100.0	100.0	100.0	100.0
Parent Entity	2018			2017
	Loans-			Loans-
	Housing and	Loans -		Housing and	Loans -
%	Personal	Business	Total	Personal	Business	Total
Fully secured	76.4	28.5	52.2	73.2	19.6	43.1
Partially secured	6.5	13.1	9.8	6.3	17.1	12.4
Unsecured	17.1	58.4	38.0	20.5	63.3	44.5
Total	100.0	100.0	100.0	100.0	100.0	100.0

XML

Fair values of financial assets and financial liabilities (Tables)

12 Months Ended

Sep. 30, 2018

Fair values of financial assets and financial liabilities

Summary of financial instruments carried at fair value

Consolidated	2018				2017
		Valuation	Valuation			Valuation	Valuation
	Quoted	Techniques	Techniques		Quoted	Techniques	Techniques
	Market	(Market	(Non-Market		Market	(Market	(Non-Market
	Prices	Observable)	Observable)		Prices	Observable)	Observable)
$m	(Level 1)	(Level 2)	(Level 3)	Total	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets measured at fair value on a recurring basis
Trading securities and financial assets designated at fair value	8,958	12,846	330	22,134	6,815	17,742	767	25,324
Derivative financial instruments	20	24,066	15	24,101	9	24,009	15	24,033
Available-for-sale securities	11,996	48,504	619	61,119	7,252	52,841	617	60,710
Loans	-	3,250	-	3,250	-	4,587	-	4,587
Life insurance assets	1,345	8,105	-	9,450	2,768	7,875	-	10,643
Regulatory deposits with central banks overseas	-	998	-	998	-	659	-	659
Total financial assets measured at fair value	22,319	97,769	964	121,052	16,844	107,713	1,399	125,956
Financial liabilities measured at
fair value on a recurring basis
Deposits and other borrowings at fair value	-	41,178	-	41,178	-	46,569	-	46,569
Other financial liabilities at fair value through income statement	496	3,801	-	4,297	208	3,848	-	4,056
Derivative financial instruments	76	24,325	6	24,407	8	25,358	9	25,375
Debt issues at fair value	-	3,355	-	3,355	-	4,673	-	4,673
Life insurance liabilities	-	7,597	-	7,597	-	9,019	-	9,019
Total financial liabilities measured at fair value	572	80,256	6	80,834	216	89,467	9	89,692

Parent Entity	2018				2017
		Valuation	Valuation			Valuation	Valuation
	Quoted	Techniques	Techniques		Quoted	Techniques	Techniques
	Market	(Market	(Non-Market		Market	(Market	(Non-Market
	Prices	Observable)	Observable)		Prices	Observable)	Observable)
$m	(Level 1)	(Level 2)	(Level 3)	Total	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets measured at fair value on a recurring basis
Trading securities and financial assets designated at fair value	8,952	11,259	206	20,417	6,797	15,648	501	22,946
Derivative financial instruments	20	23,529	13	23,562	9	23,799	15	23,823
Available-for-sale securities	10,657	45,786	70	56,513	5,480	50,256	64	55,800
Loans	-	3,250	-	3,250	-	4,587	-	4,587
Regulatory deposits with central banks overseas	-	998	-	998	-	659	-	659
Total financial assets measured at fair value	19,629	84,822	289	104,740	12,286	94,949	580	107,815
Financial liabilities measured at fair value on a recurring basis
Deposits and other borrowings at fair value	-	40,062	-	40,062	-	46,023	-	46,023
Other financial liabilities at fair value through income statement	496	3,801	-	4,297	208	3,830	-	4,038
Derivative financial instruments	76	24,147	6	24,229	8	24,894	9	24,911
Debt issues at fair value	-	3,223	-	3,223	-	2,940	-	2,940
Total financial liabilities measured at fair value	572	71,233	6	71,811	216	77,687	9	77,912

Summary of changes in financial instruments measured at fair value derived from non-market observable valuation techniques

Consolidated 2018	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	767	15	617	1,399	9	9
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	2	1	-	3	1	1
Available-for-sale securities reserve	-	-	(7)	(7)	-	-
Acquisition and issues	67	3	1,446	1,516	1	1
Disposal and settlements	(433)	(4)	(1,456)	(1,893)	(5)	(5)
Transfer into or out of non-market observables	(75)	-	-	(75)	-	-
Foreign currency translation impacts	2	-	19	21	-	-
Balance as at end of year	330	15	619	964	6	6
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2018	(7)	4	-	(3)	(2)	(2)
Consolidated 2017	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	840	43	704	1,587	17	17
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	(26)	(8)	-	(34)	(3)	(3)
Available-for-sale securities reserve	-	-	4	4	-	-
Acquisition and issues	122	5	1,572	1,699	6	6
Disposal and settlements	(162)	(13)	(1,645)	(1,820)	(9)	(9)
Transfer into or out of non-market observables	10	(12)	-	(2)	(2)	(2)
Foreign currency translation impacts	(17)	-	(18)	(35)	-	-
Balance as at end of year	767	15	617	1,399	9	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(29)	(2)	-	(31)	(3)	(3)

Parent Entity 2018	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	501	15	64	580	9	9
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	6	1	-	7	1	1
Available-for-sale securities reserve	-	-	2	2	-	-
Acquisition and issues	21	3	18	42	1	1
Disposal and settlements	(268)	(6)	(14)	(288)	(5)	(5)
Transfer into or out of non-market observables	(53)	-	-	(53)	-	-
Foreign currency translation impacts	(1)	-	-	(1)	-	-
Balance as at end of year	206	13	70	289	6	6
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2018	5	4	-	9	(2)	(2)
Parent Entity 2017	Trading
	Securities and
	Financial Assets		Available-	Total		Total
	Designated		for-Sale	Level 3		Level 3
$m	at Fair Value	Derivatives	Securities	Assets	Derivatives	Liabilities
Balance as at beginning of year	590	42	50	682	17	17
Gains/(losses) on assets/(gains)/losses on liabilities recognised in:
Income statements	8	(7)	-	1	(3)	(3)
Available-for-sale securities reserve	-	-	-	-	-	-
Acquisition and issues	32	5	14	51	6	6
Disposal and settlements	(122)	(13)	-	(135)	(9)	(9)
Transfer into or out of non-market observables	10	(12)	-	(2)	(2)	(2)
Foreign currency translation impacts	(17)	-	-	(17)	-	-
Balance as at end of year	501	15	64	580	9	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	1	(2)	-	(1)	(3)	(3)

Schedule of financial instruments not measured at fair value

Consolidated		2018
		Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	26,431	26,431	-	-	26,431
Receivables due from other financial institutions	5,790	4,332	1,458	-	5,790
Loans	706,440	-	-	706,742	706,742
Regulatory deposits with central banks overseas	357	357	-	-	357
Other financial assets	4,514	-	4,514	-	4,514
Total financial assets not measured at fair value	743,532	31,120	5,972	706,742	743,834
Financial liabilities not measured at fair value
Payables due to other financial institutions	18,137	2,171	15,966	-	18,137
Deposits and other borrowings	518,107	-	515,953	2,838	518,791
Debt issues1	169,241	-	170,060	-	170,060
Loan capital	17,265	-	17,438	-	17,438
Other financial liabilities	7,855	-	7,855	-	7,855
Total financial liabilities not measured at fair value	730,605	2,171	727,272	2,838	732,281
Consolidated		2017
		Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	18,397	18,397	-	-	18,397
Receivables due from other financial institutions	7,128	4,834	1,902	392	7,128
Loans	680,332	-	-	680,568	680,568
Regulatory deposits with central banks overseas	389	389	-	-	389
Other financial assets	4,754	-	4,754	-	4,754
Total financial assets not measured at fair value	711,000	23,620	6,656	680,960	711,236
Financial liabilities not measured at fair value
Payables due to other financial institutions	21,907	2,429	19,478	-	21,907
Deposits and other borrowings	487,022	-	484,929	2,794	487,723
Debt issues1	163,683	-	165,151	-	165,151
Loan capital	17,666	-	18,087	-	18,087
Other financial liabilities	7,490	-	7,490	-	7,490
Total financial liabilities not measured at fair value	697,768	2,429	695,135	2,794	700,358

1The estimated fair value of debt issues includes the impact of changes in Westpac’s credit spreads since origination.

Parent Entity			2018
			Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	24,726	24,726	-	-	24,726
Receivables due from other financial institutions	5,711	4,267	1,444	-	5,711
Loans	626,918	-	-	627,070	627,070
Regulatory deposits with central banks overseas	250	250	-	-	250
Due from subsidiaries	140,597	-	-	140,597	140,597
Other financial assets	3,677	-	3,677	-	3,677
Total financial assets not measured at fair value	801,879	29,243	5,121	767,667	802,031
Financial liabilities not measured at fair value
Payables due to other financial institutions	17,682	1,735	15,947	-	17,682
Deposits and other borrowings	460,406	-	459,841	1,213	461,054
Debt issues1	149,065	-	149,800	-	149,800
Due to subsidiaries	142,400	-	-	142,400	142,400
Loan capital	17,265	-	17,438	-	17,438
Other financial liabilities	7,035	-	7,035	-	7,035
Total financial liabilities not measured at fair value	793,853	1,735	650,061	143,613	795,409

Parent Entity			2017
			Fair Value
			Valuation	Valuation
		Quoted	Techniques	Techniques
		Market	(Market	(Non-Market
	Carrying	Prices	Observable)	Observable)
$m	Amount	(Level 1)	(Level 2)	(Level 3)	Total
Financial assets not measured at fair value
Cash and balances with central banks	16,405	16,405	-	-	16,405
Receivables due from other financial institutions	6,357	4,462	1,895	-	6,357
Loans	601,650	-	-	601,784	601,784
Regulatory deposits with central banks overseas	286	286	-	-	286
Due from subsidiaries	142,455	-	-	142,455	142,455
Other financial assets	4,000	-	4,000	-	4,000
Total financial assets not measured at fair value	771,153	21,153	5,895	744,239	771,287
Financial liabilities not measured at fair value
Payables due to other financial institutions	21,775	2,304	19,471	-	21,775
Deposits and other borrowings	431,670	-	431,113	1,216	432,329
Debt issues1	141,176	-	142,474	-	142,474
Due to subsidiaries	143,834	-	-	143,834	143,834
Loan capital	17,666	-	18,087	-	18,087
Other financial liabilities	6,868	-	6,868	-	6,868
Total financial liabilities not measured at fair value	762,989	2,304	618,013	145,050	765,367

1The estimated fair value of debt issues includes the impact of changes in Westpac’s credit spreads since origination.

XML

Offsetting financial assets and financial liabilities (Tables)

12 Months Ended

Sep. 30, 2018

Offsetting financial assets and financial liabilities

Schedule of offsetting financial assets and financial liabilities

Consolidated	Effects of Offsetting			Amounts Subject to Enforceable
	on Balance Sheet			Netting Arrangements But Not Offset
			Net Amounts	Other
			Reported on	Recognised		Financial
	Gross	Amounts	the Balance	Financial	Cash	Instrument	Net
$m	Amounts	Offset	Sheet	Instruments	Collateral	Collateral	Amount
2018
Assets
Receivables due from other
financial institutions1	14	-	14	-	-	(14)	-
Derivative financial instruments	32,828	(8,727)	24,101	(15,962)	(2,184)	(14)	5,941
Securities purchased under
agreement to resell2	1,379	-	1,379	-	(3)	(1,376)	-
Loans3	8,519	(8,420)	99	-	-	-	99
Other assets4	4,243	(4,162)	81	-	-	-	81
Total assets	46,983	(21,309)	25,674	(15,962)	(2,187)	(1,404)	6,121
Liabilities
Derivative financial instruments	37,296	(12,889)	24,407	(15,962)	(4,487)	(1,544)	2,414
Security repurchase agreements5	9,522	-	9,522	-	-	(9,522)	-
Deposits and other borrowings3	20,486	(8,420)	12,066	-	-	-	12,066
Other liabilities4	-	-	-	-	-	-	-
Total liabilities	67,304	(21,309)	45,995	(15,962)	(4,487)	(11,066)	14,480
2017
Assets
Receivables due from other
financial institutions1	15	-	15	-	-	(14)	1
Derivative financial instruments	31,686	(7,653)	24,033	(16,707)	(2,438)	(18)	4,870
Securities purchased under
agreement to resell2	6,887	-	6,887	-	(42)	(6,814)	31
Loans3	15,990	(15,925)	65	-	-	-	65
Other assets4	2,269	(1,615)	654	-	-	-	654
Total assets	56,847	(25,193)	31,654	(16,707)	(2,480)	(6,846)	5,621
Liabilities
Derivative financial instruments	34,642	(9,267)	25,375	(16,707)	(5,552)	(1,421)	1,695
Security repurchase agreements5	12,960	-	12,960	-	(2)	(12,958)	-
Deposits and other borrowings3	21,349	(15,925)	5,424	-	-	-	5,424
Other liabilities4	13	(1)	12	-	-	-	12
Total liabilities	68,964	(25,193)	43,771	(16,707)	(5,554)	(14,379)	7,131

1Consist of stock borrowing arrangements, reported as part of cash collateral in Note 10.

2Securities purchased under agreement to resell form part of Note 11.

3Consist of debt and interest set-off accounts which meet the requirements for offsetting as described above. These accounts form part of business loans in Note 13 and part of Deposits and other borrowings at amortised cost in Note 17.

4Gross amounts consist of initial and variation margin held directly with central clearing counterparties, where variation margin is receivable it is reported as part of Other in Note 27. Where variation margin is payable it is reported as part of Other in Note 29. Amounts offset relate to variation margin.

5Security repurchase agreements form part of Note 16 recognised at amortised cost and part of Note 18 recognised at fair value through income statement.

Parent Entity	Effects of Offsetting			Amounts Subject to Enforceable
	on Balance Sheet			Netting Arrangements But Not Offset
			Net Amounts	Other
			Reported on	Recognised		Financial
	Gross	Amounts	the Balance	Financial	Cash	Instrument	Net
$m	Amounts	Offset	Sheet	Instruments	Collateral	Collateral	Amount
2018
Assets
Receivables due from other
financial institutions1	14	-	14	-	-	(14)	-
Derivative financial instruments	32,289	(8,727)	23,562	(15,862)	(1,748)	(14)	5,938
Securities purchased under
agreement to resell2	1,379	-	1,379	-	(3)	(1,376)	-
Loans3	8,519	(8,420)	99	-	-	-	99
Other assets4	4,243	(4,162)	81	-	-	-	81
Total assets	46,444	(21,309)	25,135	(15,862)	(1,751)	(1,404)	6,118
Liabilities
Derivative financial instruments	37,118	(12,889)	24,229	(15,862)	(4,423)	(1,544)	2,400
Security repurchase agreements5	9,522	-	9,522	-	-	(9,522)	-
Deposits and other borrowings3	20,486	(8,420)	12,066	-	-	-	12,066
Other liabilities4	-	-	-	-	-	-	-
Total liabilities	67,126	(21,309)	45,817	(15,862)	(4,423)	(11,066)	14,466
2017
Assets
Receivables due from other
financial institutions1	15	-	15	-	-	(14)	1
Derivative financial instruments	31,476	(7,653)	23,823	(16,552)	(2,312)	(18)	4,941
Securities purchased under
agreement to resell2	6,887	-	6,887	-	(42)	(6,814)	31
Loans3	15,990	(15,925)	65	-	-	-	65
Other assets4	2,269	(1,615)	654	-	-	-	654
Total assets	56,637	(25,193)	31,444	(16,552)	(2,354)	(6,846)	5,692
Liabilities
Derivative financial instruments	34,178	(9,267)	24,911	(16,522)	(5,179)	(1,421)	1,789
Security repurchase agreements5	12,942	-	12,942	-	(2)	(12,940)	-
Deposits and other borrowings3	21,349	(15,925)	5,424	-	-	-	5,424
Other liabilities4	13	(1)	12	-	-	-	12
Total liabilities	68,482	(25,193)	43,289	(16,522)	(5,181)	(14,361)	7,225

1Consist of stock borrowing arrangements, reported as part of cash collateral in Note 10.

2Securities purchased under agreement to resell form part of Note 11.

3Consist of debt and interest set-off accounts which meet the requirements for offsetting as described above. These accounts form part of business loans in Note 13 and part of Deposits and other borrowings at amortised cost in Note 17.

4Gross amounts consist of initial and variation margin held directly with central clearing counterparties, where variation margin is receivable it is reported as part of Other in Note 27. Where variation margin is payable it is reported as part of Other in Note 29. Amounts offset relate to variation margin.

5Security repurchase agreements form part of Note 16 recognised at amortised cost and part of Note 18 recognised at fair value through income statement.

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Securitisation, covered bonds and other transferred assets (Tables)

12 Months Ended

Sep. 30, 2018

Securitisation, covered bonds and other transferred assets

Schedule of assets transferred and their associated liabilities

Consolidated			For those liabilities that only have recourse to
			the transferred assets:
	Carrying	Carrying
	amount of	amount of	Fair value of	Fair value of
	transferred	associated	transferred	associated	Net fair value
$m	assets	liabilities	assets	liabilities	position
2018
Securitisation - own assets1	7,631	7,588	7,662	7,565	97
Covered bonds2	43,088	35,434	n/a	n/a	n/a
Repurchase agreements	12,492	9,522	n/a	n/a	n/a
Total3	63,211	52,544	7,662	7,565	97
2017
Securitisation - own assets1	8,249	8,209	8,282	8,223	59
Covered bonds2	42,122	34,516	n/a	n/a	n/a
Repurchase agreements	18,746	12,960	n/a	n/a	n/a
Total3	69,117	55,685	8,282	8,223	59
Parent Entity			For those liabilities that only have recourse to
			the transferred assets:
	Carrying	Carrying
	amount of	amount of	Fair value of	Fair value of
	transferred	associated	transferred	associated	Net fair value
$m	assets	liabilities	assets	liabilities	position
2018
Securitisation - own assets1	97,259	96,728	97,291	96,473	818
Covered bonds2	36,190	30,268	n/a	n/a	n/a
Repurchase agreements	12,492	9,522	n/a	n/a	n/a
Total	145,941	136,518	97,291	96,473	818
2017
Securitisation - own assets1,4	98,368	97,872	98,434	96,478	1,956
Covered bonds2	35,202	29,698	n/a	n/a	n/a
Repurchase agreements	18,728	12,942	n/a	n/a	n/a
Total	152,298	140,512	98,434	96,478	1,956

1The carrying amount of assets securitised exceeds the amount of notes issued primarily because the carrying amount includes both principal and income received from the transferred assets.

2The difference between the carrying values of covered bonds and the assets pledged reflects the over-collateralisation required to maintain the ratings of the covered bonds and also additional assets to allow immediate issuance of additional covered bonds if required. These additional assets can be repurchased by Westpac at its discretion, subject to the conditions set out in the transaction documents.

3This table excludes securitisation – customer conduits as the assets securitised are not assets of Westpac.

4Comparatives have been revised for consistency.

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Intangible assets (Tables)

12 Months Ended

Sep. 30, 2018

Intangible assets

Schedule of changes in intangible assets and goodwill

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Goodwill
Opening balance	9,012	9,030	6,844	6,844
Disposals1	(15)	-	-	-
Impairment1	(105)	-	-	-
Other adjustments	(2)	(18)	-	-
Closing balance	8,890	9,012	6,844	6,844
Computer software
Opening balance	1,916	1,781	1,758	1,635
Additions	882	766	823	692
Impairment	(2)	(14)	(2)	(14)
Amortisation	(618)	(614)	(565)	(558)
Other adjustments	(1)	(3)	-	3
Closing balance	2,177	1,916	2,014	1,758
Cost	5,727	5,059	4,861	4,249
Accumulated amortisation and impairment	(3,550)	(3,143)	(2,847)	(2,491)
Carrying amount	2,177	1,916	2,014	1,758
Brand Names
Opening balance	670	670	636	636
Closing balance	670	670	636	636
Carrying amount	670	670	636	636
Core deposit intangibles
Opening balance	21	187	21	187
Amortisation	(21)	(166)	(21)	(166)
Closing balance	-	21	-	21
Cost	1,494	1,494	1,279	1,279
Accumulated amortisation	(1,494)	(1,473)	(1,279)	(1,258)
Carrying amount	-	21	-	21
Other intangible assets
Opening balance	33	53	-	3
Additions through business combination	-	-	-	-
Amortisation	(7)	(20)	-	(3)
Closing balance	26	33	-	-
Cost	391	398	160	160
Accumulated amortisation and impairment	(365)	(365)	(160)	(160)
Carrying amount	26	33	-	-
Total intangible assets	11,763	11,652	9,494	9,259

1    The sale of Hastings’ overseas operations and subsequent exit of Hastings’ Australian operations resulted in the entire balance of goodwill previously allocated to Hastings being derecognised ($15m) or impaired ($105m) in 2018.

Schedule of allocation of goodwill

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Consumer Bank	3,359	3,359	3,144	3,144
Business Bank	2,513	2,513	2,378	2,378
Westpac Institutional Bank	487	487	487	487
BT Financial Group (Australia)	2,048	2,048	835	835
New Zealand Consumer Banking and Wealth	470	472	-	-
BT New Zealand	13	13	-	-
Hastings	-	120	-	-
Total goodwill	8,890	9,012	6,844	6,844

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Other assets (Tables)

12 Months Ended

Sep. 30, 2018

Other assets

Schedule of other assets

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Accrued interest receivable	1,276	1,193	1,103	1,029
Securities sold not delivered	1,264	1,408	1,264	1,388
Deferred acquisition costs	71	86	-	1
Trade debtors	1,056	810	514	358
Prepayments	208	220	165	182
Accrued fees and commissions	129	149	60	64
Other	1,131	1,496	882	1,296
Total other assets	5,135	5,362	3,988	4,318

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Provisions (Tables)

12 Months Ended

Sep. 30, 2018

Provisions

Schedule of changes in provisions

		Annual					Compliance,
		Leave	Litigation	Provision for			Regulation
	Long	and Other	and Non-	Impairment			and
	Service	Employee	Lending	on Credit	Leasehold	Restructuring	Remediation
$m	Leave	Benefits	Losses1	Commitments	Premises	Provisions	Provisions1	Total
Consolidated
Balance at 1 October 2017	399	737	38	253	26	5	181	1,639
Additions	77	960	97	-	4	29	414	1,581
Utilisation	(43)	(977)	(79)	-	(6)	(5)	(121)	(1,231)
Reversal of unutilised provisions	(16)	(25)	(3)	-	-	(2)	(5)	(51)
Unwinding of discount	-	-	-	4	-	-	-	4
Other	-	4	-	(18)	-	-	-	(14)
Balance at 30 September 2018	417	699	53	239	24	27	469	1,928
Parent Entity
Balance at 1 October 2017	367	644	25	224	26	5	181	1,472
Additions	72	888	71	-	4	29	392	1,456
Utilisation	(39)	(890)	(56)	-	(6)	(5)	(121)	(1,117)
Reversal of unutilised provisions	(16)	(10)	(3)	-	-	(2)	(5)	(36)
Unwinding of discount	-	-	-	3	-	-	-	3
Other	2	7	-	(21)	-	-	-	(12)
Balance at 30 September 2018	386	639	37	206	24	27	447	1,766

1Balance at 1 October 2017 has been revised for consistency.

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Other liabilities (Tables)

12 Months Ended

Sep. 30, 2018

Other liabilities

Schedule of other liabilities

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Unearned insurance premiums	398	396	-	-
Outstanding insurance claims	367	339	-	-
Defined benefit deficit1	25	43	9	30
Accrued interest payable	2,968	2,727	2,633	2,416
Credit card loyalty program	308	284	23	16
Securities purchased not delivered	1,343	1,315	1,343	1,315
Trade creditors and other accrued expenses2	1,410	1,109	1,125	890
Other2	2,374	2,393	2,159	2,282
Total other liabilities	9,193	8,606	7,292	6,949

1    Refer to Note 38 for more details.

2    Comparatives have been revised for consistency. Liabilities of $177 million relating to compliance, regulation and remediation were reclassified to compliance, regulation and remediation provisions included in Note 28.

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Operating lease commitments (Tables)

12 Months Ended

Sep. 30, 2018

Operating lease commitments

Schedule of operating lease commitments

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Due within one year	570	548	498	480
Due after one year but not later than five years	1,564	1,591	1,356	1,395
Due after 5 years	1,819	1,994	1,460	1,652
Total lease commitments	3,953	4,133	3,314	3,527

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Contingent liabilities, contingent assets and credit commitments (Tables)

12 Months Ended

Sep. 30, 2018

Contingent liabilities, contingent assets and credit commitments

Schedule of undrawn credit commitments

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Undrawn credit commitments
Letters of credit and guarantees1	15,585	15,460	14,957	14,908
Commitments to extend credit2	174,658	178,443	152,943	156,423
Other	154	648	99	648
Total undrawn credit commitments	190,397	194,551	167,999	171,979

1Letters of credit are undertakings to pay, against presentation documents, an obligation in the event of a default by a customer. Guarantees are unconditional undertakings given to support the obligations of a customer to third parties. The Group may hold cash as collateral for certain guarantees issued.

2Commitments to extend credit include all obligations on the part of the Group to provide credit facilities. As facilities may expire without being drawn upon, the notional amounts do not necessarily reflect future cash requirements. In addition to the commitments disclosed above, at 30 September 2018 the Group had offered $5.7 billion (2017: $5.5 billion) of facilities to customers, which had not yet been accepted.

Schedule of maturity of undrawn credit commitments

Consolidated 2018	Up to	Over 1	Over 3	Over
$m	1 Year	to 3 Years	to 5 Years	5 Years	Total
Letters of credit and guarantees	8,983	2,717	890	2,995	15,585
Commitments to extend credit	50,292	49,320	14,637	60,409	174,658
Other	-	74	25	55	154
Total undrawn credit commitments	59,275	52,111	15,552	63,459	190,397

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Shareholders' equity (Tables)

12 Months Ended

Sep. 30, 2018

Shareholders' equity

Schedule of share capital

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Share capital
Ordinary share capital, fully paid	36,054	34,889	36,054	34,889
Treasury shares held for RSP1	(505)	(434)	(505)	(434)
Other treasury shares held2	12	(61)	(3)	(3)
Total treasury shares held	(493)	(495)	(508)	(437)
Total share capital	35,561	34,394	35,546	34,452
Non-controlling interests	52	54	-	-

12018: 3,943,660, unvested shares held (2017: 3,549,035).

22018: 2,029,795 shares held (2017: 4,652,579).

Schedule of reconciliation of movement in number of ordinary shares

Consolidated and Parent Entity
(number)	2018	2017
Opening balance	3,394,364,279	3,346,166,853
Dividend reinvestment plan1	21,242,667	48,197,426
Conversion of Westpac Convertible Preference Shares2	19,189,765	-
Closing balance	3,434,796,711	3,394,364,279

Schedule of ordinary shares purchased on market

	2018	2018
Consolidated and Parent Entity	Number	Average Price ($)
For share-based payment arrangements:
Employee share plan (ESP)	854,267	31.86
RSP3	2,291,897	31.32
Westpac Performance Plan (WPP) - share rights exercised	156,691	31.49
Westpac Long Term Incentive Plan (LTIP) - options exercised4	103,686	28.80
LTIP - share rights exercised	2,929	28.42
As treasury shares:
Treasury shares purchased (excluding RSP)5	93,052	28.97
Treasury shares sold	(2,715,836)	28.10
Net number of ordinary shares purchased/(sold) on market6	786,686

1The price per share for the issuance of shares in relation to the dividend reinvestment plan for the 2018 interim dividend was $28.11 and 2017 final dividend was $31.62 (2017: 2017 interim dividend was $29.79 and 2016 final dividend was $31.32).

2The conversion price per share for the issuance of shares in relation to the conversion of Westpac Convertible Preference Shares was $29.49.

3Ordinary shares allocated to employees under the RSP are classified as treasury shares until the shares vest.

4No WPP options were exercised during the period. The average exercise price per share received was $24.23 on the exercise of the LTI options.

5Treasury shares include ordinary shares held by statutory life funds and managed investment schemes and ordinary shares held by Westpac for equity derivatives sold to customers.

6The purchase of ordinary shares on market resulted in a tax benefit of $0.22 million being recognised as contributed equity.

Schedule of reconciliation of movement in reserves

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Available-for-sale securities reserve
Opening balance	64	10	70	10
Net gains/(losses) from changes in fair value	(104)	75	(34)	88
Income tax effect	34	(19)	13	(26)
Transferred to income statements	66	(3)	(33)	(3)
Income tax effect	(25)	1	6	1
Exchange differences	2	-	2	-
Closing balance	37	64	24	70
Share-based payment reserve
Opening balance	1,431	1,333	1,322	1,221
Share-based payment expense	103	98	103	101
Closing balance	1,534	1,431	1,425	1,322
Cash flow hedge reserve
Opening balance	(154)	(172)	(94)	(78)
Net gains/(losses) from changes in fair value	(161)	(91)	(125)	(42)
Income tax effect	47	27	38	13
Transferred to income statements	203	115	160	19
Income tax effect	(60)	(33)	(48)	(6)
Closing balance	(125)	(154)	(69)	(94)
Foreign currency translation reserve
Opening balance	(529)	(413)	(481)	(404)
Exchange differences on translation of foreign operations (net of associated hedges)	181	(116)	174	(77)
Transferred to income statements	(3)	-	-	-
Closing balance	(351)	(529)	(307)	(481)
Other reserves
Opening balance	(18)	(19)	41	41
Transactions with owners	-	1	-	-
Closing balance	(18)	(18)	41	41
Total reserves	1,077	794	1,114	858

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Dividends (Tables)

12 Months Ended

Sep. 30, 2018

Dividends

Schedule of dividends not recognised at year end

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Dividends not recognised at year end
Since year end the Directors have proposed the following dividends:
Final dividend 94 cents per share (2017: 94 cents, 2016: 94 cents)
all fully franked at 30%	3,227	3,186	3,142	3,229	3,191
Total dividends not recognised at year end	3,227	3,186	3,142	3,229	3,191

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Investments in subsidiaries and associates (Tables)

12 Months Ended

Sep. 30, 2018

Investments in subsidiaries and associates

Summary of ownership percentage of controlled entities

Percentage Owned	2018	2017
St.George Motor Finance Limited	75.0%	75.0%
Westpac Bank-PNG-Limited	89.9%	89.9%
Westpac NZ Covered Bond Limited	19.0%	19.0%
Westpac NZ Securitisation Limited	19.0%	19.0%

Pendal Group Limited

Investments in subsidiaries and associates

Schedule of interests in associates

Consolidated	Period ended
$m	26 May 2017
Summarised results
Revenue for the period	262
Net profit for the period	90
Other comprehensive income for the period	11
Total comprehensive income (100%)	101
Group’s share of net profit1	26
Equity accounting adjustments	(13)
Group’s share in net profit recognised in the income statement	13
Group’s share of other comprehensive income1	4
Tax effect on Group’s share of other comprehensive income	(1)
Share of total comprehensive income recognised by the Group	16
Dividends received from associates during the period	22
Summarised balance sheet
Total assets	887
Total liabilities	(122)
Total net assets (100%)	765
Group’s share of total net assets1	222
Fair value adjustments (including notional goodwill) on acquisition (net of amortisation)	491
Carrying amount of interest in Pendal Group Limited2	713
Carrying amount of interest in Pendal Group Limited sold	(471)
Carrying amount of remaining interest reclassified to available-for-sale securities	(242)
Remaining interest in Pendal Group Limited accounted for under equity method	-
Fair value of remaining interest reclassified to available-for-sale securities	375
Proceeds from sale of Pendal Group Limited interest, net of transaction costs	630
Amount of reserves recycled to profit or loss	(13)
Gain on sale of interest in Pendal Group Limited	279
Fair value of investment	n/a

1Represents the Group’s share of Pendal (26 May 2017: 29.0%).

2The amount disclosed as at 26 May 2017 represented the carrying value of interest in Pendal immediately prior to the sale.

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Structured entities (Tables)

12 Months Ended

Sep. 30, 2018

Structured entities

Schedule of consolidated structured entities

Consolidated 2018	Investment in
	Third Party
	Mortgage and			Interest
	Other	Financing to	Group	in Other
	Asset-Backed	Securitisation	Managed	Structured
$m	Securities1	Vehicles	Funds	Entities	Total
Assets
Receivables due from other financial institutions	-	-	-	-	-
Trading securities and financial assets designated at fair value	2,108	-	-	139	2,247
Available-for-sale securities	7,352	-	-	-	7,352
Loans	-	21,977	6	22,894	44,877
Life insurance assets	-	-	4,702	1,843	6,545
Other assets	-	-	47	-	47
Total on-balance sheet exposures	9,460	21,977	4,755	24,876	61,068
Total notional amounts of off-balance sheet exposures	-	5,145	60	7,988	13,193
Maximum exposure to loss	9,460	27,122	4,815	32,864	74,261
Size of structured entities2	58,976	27,122	66,524	100,427	253,049

Consolidated 2017	Investment in
	Third Party
	Mortgage and			Interest
	Other	Financing to	Group	in Other
	Asset-Backed	Securitisation	Managed	Structured
$m	Securities1	Vehicles	Funds	Entities	Total
Assets
Receivables due from other financial institutions	-	392	-	-	392
Trading securities and financial assets designated at fair value	1,740	-	-	674	2,414
Available-for-sale securities	6,981	-	-	-	6,981
Loans	-	20,032	44	22,488	42,564
Life insurance assets	-	-	4,344	1,735	6,079
Other assets	-	-	52	-	52
Total on-balance sheet exposures	8,721	20,424	4,440	24,897	58,482
Total notional amounts of off-balance sheet exposures	-	5,802	66	7,718	13,586
Maximum exposure to loss	8,721	26,226	4,506	32,615	72,068
Size of structured entities2	60,573	26,226	70,070	134,548	291,417

1The Group’s interests in third party mortgage and other asset-backed securities are senior tranches of notes and are investment grade rated.

2Represented either by the total assets or market capitalisation of the entity, or if not available, the Group’s total committed exposure (for lending arrangements and external debt and equity holdings), funds under management (for Group managed funds) or the total value of notes on issue (for investments in third-party asset-backed securities).

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Share-based payments (Tables)

12 Months Ended

Sep. 30, 2018

Share-based payments

Summary of terms and conditions of share-based payment arrangements

Scheme name	Westpac Long Term Incentive Plan (LTI)	Westpac Performance Plan (WPP)	Restricted Share Plan (RSP)	Employee Share Plan (ESP)
Type of share-based payment	Share rights (allocated at no cost). Share options (no longer issued since October 2009).	Share rights (allocated at no cost). Share options (no longer issued since October 2009).	Westpac ordinary shares (allocated at no cost).	Westpac ordinary shares (allocated at no cost) of up to $1,000 per employee per year.
How it is used	Aligns executive remuneration and accountability with shareholder interests over the long term.	The mandatory deferral of a portion of short-term incentives for New Zealand employees and key employees based outside Australia.	To reward key employees in respect of the previous financial year.	To reward eligible Australian employees (unless they have already been provided instruments under another scheme for the previous year).
Exercise price:
Shares rights	Nil.	Nil.	n/a.	n/a.
Share options	The market price of Westpac shares at the start of the performance period	The market price of Westpac shares at the start of the performance period.	n/a	n/a

Scheme name	Westpac Long Term Incentive Plan (LTI)	Westpac Performance Plan (WPP)	Restricted Share Plan (RSP)	Employee Share Plan (ESP)
Performance hurdles	Relative total shareholder return (TSR) over a 4 year performance period and average cash Return on Equity (cash ROE) over a three year performance period plus 1 year holding lock, each applying to half of the award1(commencing with the 2016 LTI award)2.	None.	None.	None.
Service conditions	Continued employment throughout the vesting period or as determined by the Board.	Continued employment throughout the vesting period or as determined by the Board.	Continued employment throughout the restriction period or as determined by the Board.	Shares must normally remain within the ESP for three years from granting unless the employee leaves Westpac.
Vesting period (period over which expenses are recognised)	4 years2	Defined period set out at time of grant.	Defined period set out at time of grant.	1 year
Treatment at end of term	Lapse if not exercised.	Lapse if not exercised.	Vested shares are released from the RSP at the end of the vesting period. Shares granted prior to October 2009 may be held in the RSP for up to 10 years from the grant date.	Shares are released at the end of the restriction period or when the employee leaves Westpac.
Does the employee receive dividends and voting rights during the vesting period?	No	No	Yes	Yes

1Details of the TSR and cash ROE performance targets are provided in the Remuneration Report in Section 4.3.

2For the 2015 LTI awards, the TSR is subject to a four year performance period and Cash EPS compound annual growth rate (CAGR) over a three year performance period plus 1 year holding lock. For awards granted for the periods 2011 to 2014 both the TSR and CAGR hurdles are subject to a three year performance and vesting period.  TSR hurdled awards granted prior to 2011 were measured over an initial three year performance period with subsequent performance testing possible at the fourth and fifth anniversaries however further vesting may only occur if the TSR ranking has improved.

Westpac Long Term Incentive Plan (LTIP)

Share-based payments

Schedule of share-based payment schemes

	Outstanding at	Granted	Exercised	Lapsed		Outstanding
	1 October	During	During	During	Outstanding at	and Exercisable at
2018	2017	the Year	the Year	the Year	30 September 2018	30 September 2018
Share options	256,840	-	103,686	100,804	52,350	52,350
Weighted average exercise price	$ 26.36	-	$ 24.23	-	$ 23.40	$ 23.40
Weighted average remaining
contractual life	0.7 years				0 years
Share rights	5,231,904	808,290	2,929	1,324,422	4,712,843	3,719
Weighted average remaining
contractual life	10.3 years				10.9 years
2017	1 Oct 2016				30 Sept 2017
Share options	583,018	-	326,178	-	256,840	256,840
Weighted average exercise price	$ 27.58	-	$ 28.54	-	$ 26.36	$ 26.36
Performance share rights	5,275,652	930,012	-	973,760	5,231,904	6,648

Westpac Performance Plan (WPP)

Share-based payments

Schedule of share-based payment schemes

	Outstanding at	Granted	Exercised	Lapsed		Outstanding
	1 October	During	During	During	Outstanding at	and Exercisable at
2018	2017	the Year	the Year	the Year	30 September 2018	30 September 2018
Share rights
One-year vesting period	155,419	72,000	66,357	20,531	140,531	53,644
Two-year vesting period	233,456	88,967	60,882	8,151	253,390	42,455
Three-year vesting period	104,382	43,589	29,452	780	117,739	28,426
Four-year vesting period	126,522	42,346	-	6,639	162,229	-
Total share rights	619,779	246,902	156,691	36,101	673,889	124,525
Weighted average remaining
contractual life	12.3 years				12.4 years
2017	1 Oct 2016				30 Sept 2017
Share options	74,094	-	52,745	21,349	-	-
Weighted average exercise price	$ 23.98	-	$ 23.98	-	-	-
Performance share rights	391,503	393,536	142,093	23,167	619,779	118,912

Restricted Share Plan (RSP)

Share-based payments

Schedule of share-based payment schemes

	Outstanding at	Granted		Forfeited
	1 October	During		During	Outstanding at
Allocation date1	2017	the Year	Released	the Year	30 September 2018
Granted prior to October 2009	675,329	-	328,597	-	346,732
Granted subsequent to October 2009	3,529,424	2,479,975	1,896,648	269,839	3,842,912
Total 2018	4,204,753	2,479,975	2,225,245	269,839	4,189,644
Total 2017	4,426,872	2,195,572	2,332,985	84,706	4,204,753

1For awards made prior to October 2009, shares may be held in the RSP for up to 10 years from the date they are granted.  For awards made from October 2009, shares are released from the RSP on vesting.

Employee Share Plan (ESP)

Share-based payments

Schedule of share-based payment schemes

			Average Number	Total Number
	Allocation	Number of	of Shares Allocated	of Shares	Market	Total
	Date	Participants	per Participant	Allocated	Price per Share1	Fair Value
2018	24 November 2017	27,557	31	854,267	$ 31.80	$ 27,165,691
2017	25 November 2016	26,966	32	862,912	$ 31.25	$ 26,966,000

1The market price per share for the allocation is based on the five day volume-weighted average price up to the grant date.

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Superannuation commitments (Tables)

12 Months Ended

Sep. 30, 2018

Superannuation commitments

Schedule of contributions

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Employer contributions	30	33	30	33
Member contributions	12	13	11	12

Summary of expenses recognised

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Current service cost	37	42	43	37	41
Net interest cost on net benefit liability	1	8	7	-	7
Total defined benefit expense	38	50	50	37	48

Schedule of defined benefit balances recognised

	Consolidated		Parent Entity
$m	2018	2017	2018	2017
Benefit obligation at end of the year	2,314	2,284	2,239	2,209
Fair value of plan assets at end of the year	2,378	2,289	2,319	2,227
Net surplus/(deficit)	64	5	80	18
Defined benefit surplus (Note 27)	89	48	89	48
Defined benefit deficit (Note 29)	(25)	(43)	(9)	(30)
Net surplus/(deficit)	64	5	80	18

Schedule of defined benefit plan significant assumptions

	2018		2017
	Australian	Overseas	Australian	Overseas
Consolidated and Parent Entity	Funds	Funds	Funds	Funds
Discount rate	4.1%	2.6%-2.9%	4.2%	2.7%-3%
Salary increases	2.9%	3%-5%	3.0%	3%-5%
Inflation rate (pensioners receive inflationary increases)	1.9%	2%-3.5%	2.0%	2%-3.5%
Life expectancy of a 60-year-old male	31.0	27.9-28.4	30.8	27.7-28.9
Life expectancy of a 60-year-old female	33.9	29.4-29.6	33.7	29.2-30.3

Summary of sensitivity analysis of essential assumptions

	Increase in obligation
Change in assumption	2018	2017
0.5% decrease in discount rate	120	116
0.5% increase in annual salary increases	8	10
0.5% increase in inflation rate (pensioners receive inflationary increases)	111	106
1 year increase in life expectancy	38	29

Schedule of asset allocation

Consolidated and Parent Entity	2018		2017
	Australian	Overseas	Australian	Overseas
%	Funds	Funds	Funds	Funds
Cash	5%	2%	4%	2%
Equity instruments	45%	7%	44%	13%
Debt instruments	28%	80%	29%	65%
Property	10%	1%	10%	10%
Other Assets	12%	10%	13%	10%
Total	100%	100%	100%	100%

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Auditor's remuneration (Tables)

12 Months Ended

Sep. 30, 2018

Auditor's remuneration

Schedule of fees payable to auditor

	Consolidated		Parent Entity
$’000	2018	2017	2018	2017
Audit and audit-related fees
Audit fees
PwC Australia	19,999	17,886	19,967	17,833
Overseas PwC network firms	3,338	3,225	68	852
Total audit fees	23,337	21,111	20,035	18,685
Audit-related fees
PwC Australia	2,316	3,938	2,224	3,739
Overseas PwC network firms	117	68	-	65
Total audit-related fees	2,433	4,006	2,224	3,804
Total audit and audit-related fees	25,770	25,117	22,259	22,489
Tax fees
PwC Australia	169	5	49	-
Overseas PwC network firms	-	8	-	-
Total tax fees	169	13	49	-
Other fees
PwC Australia	1,581	1,853	1,501	912
Overseas PwC network firms	-	90	-	90
Total other fees	1,581	1,943	1,501	1,002
Total audit and non-audit fees	27,520	27,073	23,809	23,491

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Related party disclosures (Tables)

12 Months Ended

Sep. 30, 2018

Related party disclosures

Schedule of remuneration of KMP

	Short-term	Post Employment	Other Long-term	Termination	Share-based
$	Benefits	Benefits	Benefits	Benefits	Payments	Total
Consolidated
2018	23,210,820	618,631	297,495	-	16,086,623	40,213,569
2017	25,048,403	621,606	156,590	-	16,106,111	41,932,710
Parent Entity
2018	21,807,008	537,187	297,495	-	15,301,417	37,943,107
2017	23,859,466	545,524	156,590	-	15,268,712	39,830,292

Schedule of loans provided and interest charged to KMP and their related parties

	Interest Payable	Closing Loan	Number of KMP
$	for the Year	Balance	with Loans
2018	650,969	17,498,526	13
2017	739,466	15,290,320	9

Schedule of performance options and share rights held by key management personnel, including their related parties

For compliance with SEC disclosure requirements, the following table sets out certain details of the performance options, performance share rights and unhurdled share rights held at 30 September 2018 by the CEO and other key management personnel (including their related parties):

	Latest Date of Exercise	Number of Share Rights	Number of Options	Exercise Price of Options
Managing Director & Chief Executive Officer
Brian Hartzer	Ranges from 1 October 2024 to 1 October 2032	767,080	-	n/a
Group Executives
Lyn Cobley	Ranges from 1 October 2030 to 1 October 2032	261,846	-	n/a
Brad Cooper	Ranges from 1 October 2024 to 1 October 2032	329,216	-	n/a
David Curran	Ranges from 1 October 2024 to 1 October 2032	288,436	-	n/a
George Frazis	Ranges from 1 October 2024 to 1 October 2032	300,880	-	n/a
Peter King	Ranges from 1 October 2024 to 1 October 2032	314,259	-	n/a
David Lees	Ranges from 1 October 2018 to 1 October 2030	31,402	25,562	23.40
Rebecca Lim	Ranges from 1 October 2024 to 1 October 2032	144,092	-	n/a
David Linberg	Ranges from 1 October 2024 to 1 October 2032	254,369	-	n/a
Carolyn McCann	Ranges from 1 October 2024 to 1 October 2032	42,816	-	n/a
David McLean	Ranges from 1 October 2022 to 1 October 2032	295,136	-	n/a
Christine Parker	Ranges from 1 October 2024 to 1 October 2032	240,311	-	n/a
Gary Thursby	Ranges from 1 October 2024 to 1 October 2032	154,553	-	n/a

Former Group Executive

Alexandra Holcomb Ranges from 1 October 2024 to 1 October 2032 292,576 - n/a

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Notes to the cash flow statements (Tables)

12 Months Ended

Sep. 30, 2018

Notes to the cash flow statements

Summary of reconciliation of net cash provided by/(used in) operating activities to net profit

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Net profit for the year	8,099	7,997	7,460	8,144	7,843
Adjustments:
Depreciation, amortisation and impairment	1,144	1,269	1,228	952	1,122
Impairment charges	889	1,021	1,261	820	991
Net (decrease)/increase in current and deferred tax	(96)	(34)	(285)	(598)	(572)
(Increase)/decrease in accrued interest receivable	(83)	(75)	25	(74)	(81)
(Decrease)/increase in accrued interest payable	241	148	(47)	217	154
(Decrease)/increase in provisions1	289	219	(68)	294	28
Other non-cash items1	332	(419)	(331)	420	219
Cash flows from operating activities before changes in operating assets and liabilities	10,815	10,126	9,243	10,175	9,704
Net (increase)/decrease in derivative financial instruments	8,584	(5,042)	(5,107)	8,263	(5,378)
Net (increase)/decrease in life insurance assets and liabilities	(230)	219	(253)	-	-
(Increase)/decrease in other operating assets:
Trading securities and financial assets designated at fair value	3,827	(5,054)	6,755	3,150	(5,194)
Loans	(24,740)	(26,815)	(38,082)	(23,661)	(27,677)
Receivables due from other financial institutions	1,678	2,653	(896)	987	1,817
Regulatory deposits with central banks overseas	(303)	308	(209)	(299)	294
Other assets	160	200	(476)	210	136
(Decrease)/increase in other operating liabilities:
Other financial liabilities at fair value through income statement	243	(681)	(4,488)	261	(325)
Deposits and other borrowings	23,928	23,062	38,771	20,783	22,518
Payables due to other financial institutions	(4,072)	3,859	(73)	(4,396)	3,792
Other liabilities	(88)	(15)	312	(196)	78
Net cash provided by/(used in) operating activities	19,802	2,820	5,497	15,277	(235)

1Comparatives have been revised for consistency.

Summary of the assets and liabilities over which control ceased

	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Assets:
Cash and balances with central banks	10	-	138	-	-
Available-for-sale securities	-	-	1	-	-
Loans	-	-	132	-	-
Regulatory deposits with central banks overseas	-	-	5	-	-
Property and equipment	2	-	3	-	-
Deferred tax assets	4	-	1	-	-
Intangible assets	15	-	1	-	-
Other assets	5	-	27	-	-
Total assets	36	-	308	-	-
Liabilities:
Deposits and other borrowings	-	-	264	-	-
Current tax liabilities	-	-	2	-	-
Provisions	2	-	1	-	-
Other liabilities	3	-	6	-	-
Total liabilities	5	-	273	-	-
Total equity attributable to owners of Westpac Banking Corporation	31	-	35	-	-
Cash proceeds (net of transaction costs)	19	-	34	-	-
Total consideration	19	-	34	-	-
Reserves recycled to income statement	3	-	2	-	-
Gain/(loss) on disposal	(9)	-	1	-	-
Reconciliation of cash proceeds from disposal
Cash proceeds received (net of transaction costs)	19	-	34	-	-
Less: Cash deconsolidated	(10)	-	(138)	-	-
Cash consideration (paid)/received (net of transaction costs and cash held)	9	-	(104)	-	-

Schedule of non-cash financing activities

Non-cash financing activities
	Consolidated			Parent Entity
$m	2018	2017	2016	2018	2017
Shares issued under the dividend reinvestment plan	631	1,452	726	631	1,452
Shares issued from the conversion of Westpac CPS	566	-	-	566	-

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Financial statements preparation (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Retained earnings	$ 27,883	$ 26,100
AASB 9 - Expected impact
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Retained earnings	(709)
Available-for-sale financial assets to reclassify to amortised cost	$ 800

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Segment reporting - Segment results (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Segment results on a cash earnings basis
Net interest income	$ 16,505	$ 15,516	$ 15,148
Non-interest income	5,628	6,286	5,837
Net operating income before operating expenses and impairment charges	22,133	21,802	20,985
Operating expenses	(9,692)	(9,434)	(9,217)
Impairment (charges)/benefits	(710)	(853)	(1,124)
Profit before income tax	11,731	11,515	10,644
Income tax expense	(3,632)	(3,518)	(3,184)
Net profit attributable to non-controlling interests	(4)	(7)	(15)
Net profit attributable to owners of Westpac Banking Corporation	8,095	7,990	7,445
Additional information
Depreciation, amortisation and impairments	(1,144)	(1,269)	(1,228)
Balance Sheet
Total assets	879,592	851,875	839,202
Total liabilities	815,019	790,533	781,021
Additions of property and equipment and intangible assets	1,192	1,005	1,321
Consumer Bank
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	3,125	3,039	2,895
Additional information
Depreciation, amortisation and impairments	(173)	(335)	(282)
Balance Sheet
Total assets	392,495	377,457	359,228
Total liabilities	212,472	202,689	191,027
Additions of property and equipment and intangible assets	363	276	178
Business Bank
Segment reporting
Maximum facility provided to customers	150
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	2,157	1,993	1,875
Additional information
Depreciation, amortisation and impairments	(71)	(79)	(65)
Balance Sheet
Total assets	156,523	153,078	148,904
Total liabilities	114,137	111,385	106,046
Additions of property and equipment and intangible assets	94	54	83
BT Financial Group (Australia)
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	572	896	800
Additional information
Depreciation, amortisation and impairments	(78)	(49)	(67)
Balance Sheet
Total assets	34,923	35,237	38,217
Total liabilities	42,500	41,431	40,792
Additions of property and equipment and intangible assets	96	93	88
Westpac Institutional Bank
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	1,086	1,159	979
Additional information
Depreciation, amortisation and impairments	(274)	(206)	(188)
Balance Sheet
Total assets	102,380	103,080	110,616
Total liabilities	126,620	118,875	125,931
Additions of property and equipment and intangible assets	88	55	459
Westpac New Zealand
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	947	903	827
Additional information
Depreciation, amortisation and impairments	(81)	(86)	(102)
Balance Sheet
Total assets	82,424	81,285	82,071
Total liabilities	72,078	71,432	72,408
Additions of property and equipment and intangible assets	99	85	96
Group Businesses
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	208		69
Additional information
Depreciation, amortisation and impairments	(467)	(514)	(524)
Balance Sheet
Total assets	110,847	101,738	100,166
Total liabilities	247,212	244,721	244,817
Additions of property and equipment and intangible assets	452	442	417
Operating segments (cash earnings)
Segment results on a cash earnings basis
Net interest income	16,339	15,704	15,348
Non-interest income	5,612	5,852	5,888
Net operating income before operating expenses and impairment charges	21,951	21,556	21,236
Operating expenses	(9,586)	(9,105)	(8,931)
Impairment (charges)/benefits	(710)	(853)	(1,124)
Profit before income tax	11,655	11,598	11,181
Income tax expense	(3,586)	(3,529)	(3,344)
Net profit attributable to non-controlling interests	(4)	(7)	(15)
Net profit attributable to owners of Westpac Banking Corporation	8,065	8,062	7,822
Operating segments (cash earnings) | Consumer Bank
Segment results on a cash earnings basis
Net interest income	7,748	7,638	7,268
Non-interest income	746	813	863
Net operating income before operating expenses and impairment charges	8,494	8,451	8,131
Operating expenses	(3,542)	(3,378)	(3,312)
Impairment (charges)/benefits	(451)	(565)	(516)
Profit before income tax	4,501	4,508	4,303
Income tax expense	(1,361)	(1,353)	(1,292)
Net profit attributable to owners of Westpac Banking Corporation	3,140	3,155	3,011
Operating segments (cash earnings) | Business Bank
Segment results on a cash earnings basis
Net interest income	4,065	3,885	3,766
Non-interest income	1,189	1,141	1,089
Net operating income before operating expenses and impairment charges	5,254	5,026	4,855
Operating expenses	(1,876)	(1,818)	(1,774)
Impairment (charges)/benefits	(291)	(343)	(386)
Profit before income tax	3,087	2,865	2,695
Income tax expense	(928)	(862)	(810)
Net profit attributable to owners of Westpac Banking Corporation	2,159	2,003	1,885
Operating segments (cash earnings) | BT Financial Group (Australia)
Segment results on a cash earnings basis
Net interest income	578	511	460
Non-interest income	1,648	1,744	1,908
Net operating income before operating expenses and impairment charges	2,226	2,255	2,368
Operating expenses	(1,291)	(1,199)	(1,184)
Impairment (charges)/benefits	(6)	(4)
Profit before income tax	929	1,052	1,184
Income tax expense	(284)	(316)	(352)
Net profit attributable to owners of Westpac Banking Corporation	645	736	832
Operating segments (cash earnings) | Westpac Institutional Bank
Segment results on a cash earnings basis
Net interest income	1,416	1,328	1,421
Non-interest income	1,556	1,707	1,537
Net operating income before operating expenses and impairment charges	2,972	3,035	2,958
Operating expenses	(1,446)	(1,351)	(1,374)
Impairment (charges)/benefits	38	(56)	(177)
Profit before income tax	1,564	1,628	1,407
Income tax expense	(473)	(462)	(421)
Net profit attributable to non-controlling interests	(5)	(7)	(7)
Net profit attributable to owners of Westpac Banking Corporation	1,086	1,159	979
Operating segments (cash earnings) | Westpac New Zealand
Segment results on a cash earnings basis
Net interest income	1,720	1,629	1,606
Non-interest income	438	480	483
Net operating income before operating expenses and impairment charges	2,158	2,109	2,089
Operating expenses	(860)	(903)	(889)
Impairment (charges)/benefits	(2)	72	(54)
Profit before income tax	1,296	1,278	1,146
Income tax expense	(362)	(361)	(321)
Net profit attributable to owners of Westpac Banking Corporation	934	917	825
Operating segments (cash earnings) | Group Businesses
Segment results on a cash earnings basis
Net interest income	812	713	827
Non-interest income	35	(33)	8
Net operating income before operating expenses and impairment charges	847	680	835
Operating expenses	(571)	(456)	(398)
Impairment (charges)/benefits	2	43	9
Profit before income tax	278	267	446
Income tax expense	(178)	(175)	(148)
Net profit attributable to non-controlling interests	1		(8)
Net profit attributable to owners of Westpac Banking Corporation	101	92	290
Net cash earnings adjustment
Segment results on a cash earnings basis
Net interest income	166	(188)	(200)
Non-interest income	16	434	(51)
Net operating income before operating expenses and impairment charges	182	246	(251)
Operating expenses	(106)	(329)	(286)
Profit before income tax	76	(83)	(537)
Income tax expense	(46)	11	160
Net profit attributable to owners of Westpac Banking Corporation	30	(72)	(377)
Net cash earnings adjustment | Consumer Bank
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	(15)	(116)	(116)
Net cash earnings adjustment | Business Bank
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	(2)	(10)	(10)
Net cash earnings adjustment | BT Financial Group (Australia)
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	(73)	160	(32)
Net cash earnings adjustment | Westpac New Zealand
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	13	(14)	2
Net cash earnings adjustment | Group Businesses
Segment results on a cash earnings basis
Net profit attributable to owners of Westpac Banking Corporation	$ 107	$ (92)	$ (221)

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Segment reporting - Reconciliation of cash earnings to net profit (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	$ 8,095	$ 7,990	$ 7,445
Operating segments (cash earnings)
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	8,065	8,062	7,822
Net cash earnings adjustment
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	30	(72)	(377)
Adjustments relating to Pendal (BTIM)
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	(73)	171
Amortisation of intangible assets
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	17	137	158
Acquisition, transaction and integration expenses
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation			15
Fair value gain/(loss) on economic hedges
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	126	(69)	(203)
Ineffective hedges
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	(13)	(16)	9
Treasury shares
Segment reporting
Net profit attributable to owners of Westpac Banking Corporation	$ 7	$ (21)	$ (10)

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Segment reporting - Geographic segments (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Geographic segments
Revenue	$ 38,199	$ 37,518	$ 37,659
Revenues (as a percent)	100.00%	100.00%	100.00%
Non-current assets	$ 13,092	$ 13,139	$ 13,458
Non-current assets (as a percent)	100.00%	100.00%	100.00%
Australia
Geographic segments
Revenue	$ 32,696	$ 32,328	$ 32,868
Revenues (as a percent)	85.60%	86.20%	87.30%
Non-current assets	$ 12,271	$ 12,326	$ 12,607
Non-current assets (as a percent)	93.70%	93.80%	93.70%
New Zealand
Geographic segments
Revenue	$ 4,406	$ 4,360	$ 4,158
Revenues (as a percent)	11.50%	11.60%	11.00%
Non-current assets	$ 756	$ 745	$ 774
Non-current assets (as a percent)	5.80%	5.70%	5.80%
Other
Geographic segments
Revenue	$ 1,097	$ 830	$ 633
Revenues (as a percent)	2.90%	2.20%	1.70%
Non-current assets	$ 65	$ 68	$ 77
Non-current assets (as a percent)	0.50%	0.50%	0.50%

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Net interest income (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Interest income
Cash and balances with central banks	$ 325	$ 241	$ 260
Receivables due from other financial institutions	108	110	100
Net ineffectiveness on qualifying hedges	(18)	(22)	12
Trading securities and financial assets designated at fair value	542	558	645
Available-for-sale securities	1,914	1,795	1,808
Loans	29,621	28,504	28,953
Regulatory deposits with central banks overseas	23	17	13
Other interest income	56	29	31
Total interest income	32,571	31,232	31,822
Interest expense
Payables due to other financial institutions	(319)	(279)	(345)
Deposits and other borrowings	(9,021)	(8,868)	(9,369)
Trading liabilities	(959)	(2,065)	(2,520)
Debt issues	(4,480)	(3,585)	(3,737)
Loan capital	(774)	(693)	(589)
Bank levy	(378)	(95)
Other interest expense	(135)	(131)	(114)
Total interest expense	(16,066)	(15,716)	(16,674)
Net interest income	16,505	15,516	15,148
Amounts related to financial instruments not measured at fair value through income statement
Interest income	31,934	30,555	30,941
Interest expense	14,070	12,673	$ 13,101
Parent Entity
Interest income
Cash and balances with central banks	300	216
Receivables due from other financial institutions	102	85
Net ineffectiveness on qualifying hedges	(22)	(13)
Trading securities and financial assets designated at fair value	499	505
Available-for-sale securities	1,743	1,613
Loans	25,801	24,577
Regulatory deposits with central banks overseas	23	17
Due from subsidiaries	4,328	3,838
Other interest income	56	27
Total interest income	32,830	30,865
Interest expense
Payables due to other financial institutions	(314)	(278)
Deposits and other borrowings	(7,817)	(7,680)
Trading liabilities	(754)	(1,646)
Debt issues	(3,958)	(3,034)
Due to subsidiaries	(4,851)	(4,211)
Loan capital	(774)	(693)
Bank levy	(378)	(95)
Other interest expense	(131)	(128)
Total interest expense	(18,977)	(17,765)
Net interest income	13,853	13,100
Amounts related to financial instruments not measured at fair value through income statement
Interest income	32,240	30,232
Interest expense	$ 17,217	$ 15,205

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Non-interest income (Details) - AUD ($) shares in Millions, $ in Millions		12 Months Ended
	May 26, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Fee and commissions
Credit-related fee and commission income		$ 1,347	$ 1,333	$ 1,297
Transaction fees and commissions		1,105	1,193	1,177
Other commissions earned		98	229	281
Total fees and commissions		2,550	2,755	2,755
Wealth management and insurance income
Life insurance and funds management net operating income		1,825	1,590	1,657
General insurance and lenders mortgage insurance net operating income		236	210	242
Total wealth management and insurance income		2,061	1,800	1,899
Trading income		945	1,202	1,124
Other income
Dividends received from other entities		3	2	7
Net gain on sale of associates			279
Net gain on disposal of assets		24	6	1
Net gain/(loss) on hedging overseas operations				(6)
Net gain/(loss) on derivatives held for risk management purposes		8	52	(88)
Net gain/(loss) on financial instruments designated at fair value		38	11	(6)
Net gain/(loss) on disposal of controlled entities		(9)		1
Rental income on operating leases		107	143	109
Share of associates' net profit/(loss)		(10)	17	30
Other		(89)	19	11
Total other income		72	529	59
Total non-interest income		5,628	6,286	$ 5,837
BTIM
Other income
Sale of shares in associate by the Group (in shares)	60
Sale of shares in associate by the Group (as a percent)	19.00%
Parent Entity
Fee and commissions
Credit-related fee and commission income		1,333	1,299
Transaction fees and commissions		886	953
Other commissions earned		54	211
Total fees and commissions		2,273	2,463
Wealth management and insurance income
Trading income		919	1,095
Other income
Dividends received from subsidiaries		2,013	1,859
Dividends received from other entities		3	2
Net gain on disposal of assets			5
Net gain/(loss) on hedging overseas operations		19	152
Net gain/(loss) on derivatives held for risk management purposes		8	52
Net gain/(loss) on financial instruments designated at fair value		36	3
Rental income on operating leases		77	104
Other		5	20
Total other income		2,161	2,197
Transactions with subsidiaries		472	376
Total non-interest income		$ 5,825	$ 6,131

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Non-interest income - Wealth management and insurance income (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Wealth management and insurance income comprised
Funds management income	$ 1,145	$ 997	$ 1,006
Total wealth management and insurance income	2,061	1,800	1,899
Life insurance
Wealth management and insurance income comprised
Premium income/net premiums earned	1,410	1,204	1,114
Commissions, investment income and other income	666	544	386
Claims, changes in insurance liabilities, underwriting and commission expenses	(1,396)	(1,155)	(849)
General insurance and lenders mortgage insurance
Wealth management and insurance income comprised
Premium income/net premiums earned	472	451	455
Commissions, investment income and other income	50	77	70
Claims, changes in insurance liabilities, underwriting and commission expenses	$ (286)	$ (318)	$ (283)

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Operating expenses (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Staff expenses
Employee remuneration, entitlements and on-costs	$ 4,292	$ 4,133	$ 4,005
Superannuation expense	386	380	369
Share-based payments	95	113	135
Restructuring costs	114	75	92
Total staff expenses	4,887	4,701	4,601
Occupancy expenses
Operating lease rentals	632	648	622
Depreciation of property and equipment	245	291	285
Other	156	134	125
Total occupancy expenses	1,033	1,073	1,032
Technology expenses
Amortisation and impairment of software assets	620	628	571
Depreciation and impairment of IT equipment	141	158	156
Technology services	721	639	672
Software maintenance and licences	342	313	277
Telecommunications	209	190	181
Data processing	77	80	72
Total technology expenses	2,110	2,008	1,929
Other expenses
Professional and processing services	824	755	741
Amortisation and impairment of intangible assets and deferred expenditure	138	192	216
Postage and stationery	182	217	217
Advertising	173	155	156
Credit card loyalty programs	126	152	144
Non-lending losses	133	73	81
Other expenses	86	108	100
Total other expenses	1,662	1,652	1,655
Total operating expenses	9,692	9,434	9,217
Professional and processing services
Services provided by external suppliers	271	268	283
Operations processing	195	184	196
Consultants	151	162	120
Credit assessment	58	53	60
Legal and audit fees	111	61	51
Regulatory fees and share market related costs	38	27	$ 31
Parent Entity
Staff expenses
Employee remuneration, entitlements and on-costs	3,537	3,371
Superannuation expense	315	314
Share-based payments	97	96
Restructuring costs	97	68
Total staff expenses	4,046	3,849
Occupancy expenses
Operating lease rentals	565	579
Depreciation of property and equipment	196	235
Other	134	111
Total occupancy expenses	895	925
Technology expenses
Amortisation and impairment of software assets	567	572
Depreciation and impairment of IT equipment	124	139
Technology services	564	512
Software maintenance and licences	289	269
Telecommunications	183	163
Data processing	76	78
Total technology expenses	1,803	1,733
Other expenses
Professional and processing services	638	515
Amortisation and impairment of intangible assets and deferred expenditure	21	169
Postage and stationery	152	179
Advertising	127	107
Credit card loyalty programs	101	118
Non-lending losses	112	58
Impairment/(reversal of impairment) on investments in subsidiaries	44	7
Other expenses	162	238
Total other expenses	1,357	1,391
Total operating expenses	$ 8,101	$ 7,898

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Impairment charges (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Impairment charges
Write-backs	$ (150)	$ (288)	$ (210)
Recoveries	(179)	(168)	(137)	$ (131)	$ (106)
Impairment charges	710	853	1,124
Parent Entity
Impairment charges
Write-backs	(131)	(218)
Recoveries	(138)	(121)
Impairment charges	682	870
Individually assessed
Impairment charges
Provisions raised	371	610	727
Write-backs	(150)	(288)	(210)
Individually assessed | Parent Entity
Impairment charges
Provisions raised	341	581
Write-backs	(131)	(218)
Collectively assessed
Impairment charges
Provisions raised	668	699	$ 744
Collectively assessed | Parent Entity
Impairment charges
Provisions raised	$ 610	$ 628

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Income tax - Reconciliation to profit before income tax (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Income tax
Profit before taxes	$ 11,731	$ 11,515	$ 10,644
Tax at the Australian company tax rate of 30%	$ 3,519	3,455	3,193
Australian company tax rate	30.00%
Hybrid capital distributions	$ 69	64	50
Tax adjustment on policyholder earnings	24	8	(2)
Adjustment for life business tax rates	(1)	(1)
Dividend adjustments	(1)	(3)	(4)
Other non-assessable items	(5)	(3)	(10)
Other non-deductible items	64	32	35
Adjustment for overseas tax rates	(28)	(30)	(26)
Other items	(18)	(8)	13
Total income tax expense	3,632	3,518	3,184
Current income tax	3,704	3,404	3,351
Movement in deferred tax	(81)	110	(102)
Income tax (over)/under provided in prior years	$ 9	$ 4	$ (65)
Effective tax rate	30.96%	30.55%	29.91%
Australia
Income tax
Total income tax expense	$ 3,178	$ 3,072	$ 2,835
Overseas
Income tax
Total income tax expense	454	446	$ 349
Parent Entity
Income tax
Profit before taxes	10,895	10,463
Tax at the Australian company tax rate of 30%	3,269	3,139
Hybrid capital distributions	69	64
Dividend adjustments	(604)	(558)
Other non-assessable items	(2)	(2)
Other non-deductible items	34	25
Adjustment for overseas tax rates	(3)	(5)
Other items	(12)	(44)
Total income tax expense	2,751	2,620
Current income tax	2,806	2,367
Movement in deferred tax	(55)	252
Income tax (over)/under provided in prior years		1
Parent Entity | Australia
Income tax
Total income tax expense	2,677	2,544
Parent Entity | Overseas
Income tax
Total income tax expense	$ 74	$ 76

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Income tax - Deferred tax assets (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Deferred tax assets
Gross deferred tax assets recognised in the income statements	$ 1,792	$ 1,708
Gross deferred tax assets recognised directly in other comprehensive income	50	66
Deferred tax assets	1,842	1,774
Set-off of deferred tax assets and deferred tax liabilities	(662)	(662)
Net deferred tax assets	1,180	1,112	$ 1,351
Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	1,599	1,499
Gross deferred tax assets recognised directly in other comprehensive income	31	44
Deferred tax assets	1,630	1,543
Set-off of deferred tax assets and deferred tax liabilities	(528)	(490)
Net deferred tax assets	1,102	1,053	$ 1,399
Provision for impairment charges on loans
Deferred tax assets
Gross deferred tax assets recognised in the income statements	827	847
Provision for impairment charges on loans | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	708	701
Provision for long service leave, annual leave and other employee benefits
Deferred tax assets
Gross deferred tax assets recognised in the income statements	323	321
Provision for long service leave, annual leave and other employee benefits | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	301	292
Financial instruments
Deferred tax assets
Gross deferred tax assets recognised in the income statements	5	3
Financial instruments | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	2	4
Property and equipment
Deferred tax assets
Gross deferred tax assets recognised in the income statements	196	198
Property and equipment | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	177	180
Other provisions
Deferred tax assets
Gross deferred tax assets recognised in the income statements	322	239
Other provisions | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	299	223
Other liabilities
Deferred tax assets
Gross deferred tax assets recognised in the income statements	119	100
Other liabilities | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised in the income statements	112	99
Cashflow hedges
Deferred tax assets
Gross deferred tax assets recognised directly in other comprehensive income	50	63
Cashflow hedges | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised directly in other comprehensive income	$ 31	41
Defined benefit
Deferred tax assets
Gross deferred tax assets recognised directly in other comprehensive income		3
Defined benefit | Parent Entity
Deferred tax assets
Gross deferred tax assets recognised directly in other comprehensive income		$ 3

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Income tax - Movements in deferred tax assets (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Movements
Opening balance	$ 1,112	$ 1,351
Recognised in the income statements	84	(387)
Recognised in other comprehensive income	(16)	(85)
Set-off of deferred tax assets and deferred tax liabilities		233
Closing balance	1,180	1,112
Parent Entity
Movements
Opening balance	1,053	1,399
Recognised in the income statements	100	(313)
Recognised in other comprehensive income	(13)	(69)
Set-off of deferred tax assets and deferred tax liabilities	(38)	36
Closing balance	$ 1,102	$ 1,053

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Income tax - Deferred tax liabilities (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	$ 656	$ 653
Gross deferred tax liabilities recognised directly in other comprehensive income	24	19
Deferred tax liabilities	680	672
Set-off of deferred tax assets and deferred tax liabilities	(662)	(662)
Net deferred tax liabilities	18	10	$ 36
Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	509	464
Gross deferred tax liabilities recognised directly in other comprehensive income	22	26
Deferred tax liabilities	531	490
Set-off of deferred tax assets and deferred tax liabilities	(528)	(490)
Net deferred tax liabilities	3
Financial instruments
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements		3
Financial instruments | Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements		3
Finance lease transactions
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	158	106
Finance lease transactions | Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	161	83
Property and equipment
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	135	162
Property and equipment | Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	135	163
Life insurance assets
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	51	47
Other assets
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	312	335
Other assets | Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised in the income statements	213	215
Available-for-sale securities
Deferred tax liabilities
Gross deferred tax liabilities recognised directly in other comprehensive income	10	19
Available-for-sale securities | Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised directly in other comprehensive income	7	$ 26
Defined benefit
Deferred tax liabilities
Gross deferred tax liabilities recognised directly in other comprehensive income	14
Defined benefit | Parent Entity
Deferred tax liabilities
Gross deferred tax liabilities recognised directly in other comprehensive income	$ 15

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Income tax - Movements in deferred tax liabilities (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Movements
Opening balance	$ 10	$ 36
Recognised in the income statements	3	(277)
Recognised in other comprehensive income	5	18
Set-off of deferred tax assets and deferred tax liabilities		233
Closing balance	18	10
Parent Entity
Movements
Recognised in the income statements	45	(61)
Recognised in other comprehensive income	(4)	25
Set-off of deferred tax assets and deferred tax liabilities	(38)	$ 36
Closing balance	$ 3

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Income tax - Unrecognised deferred tax balances (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income tax
Australian company tax rate	30.00%
Unrecognised deferred tax balances
Unrecognised deferred tax asset: Tax losses on revenue account	$ 190	$ 213
Unrecognised deferred tax liability: Gross retained earnings of subsidiaries which the Parent Entity does not intend to distribute in the foreseeable future	58	51
Parent Entity
Unrecognised deferred tax balances
Unrecognised deferred tax asset: Tax losses on revenue account	$ 151	$ 162

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Earnings per share (Details) - AUD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Earnings per share
Net profit attributable to shareholders	$ 8,095	$ 7,990	$ 7,445
Adjustment for Restricted Share Plan (RSP) dividends	(5)	(6)	(5)
Adjustment for potential dilution: Distributions to convertible loan capital holders	283	253	222
Adjusted net profit attributable to shareholders - Basic	8,090	7,984	7,440
Adjusted net profit attributable to shareholders - Diluted	$ 8,378	$ 8,243	$ 7,667
Weighted average number of ordinary shares on issue	3,414	3,364	3,322
Treasury shares (including RSP share rights)	(8)	(9)	(9)
Adjustment for potential dilution: Share-based payments	3	4	4
Adjustment for potential dilution: Convertible loan capital	232	236	203
Adjusted weighted average number of ordinary shares - Basic	3,406	3,355	3,313
Adjusted weighted average number of ordinary shares - Diluted	3,641	3,595	3,520
Earnings per ordinary share - Basic (in dollars per share)	$ 2.375	$ 2.380	$ 2.246
Earnings per ordinary share - Diluted (in dollars per share)	$ 2.301	$ 2.293	$ 2.178

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Average balance sheet and interest rates (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 774,944	$ 752,294	$ 721,843
Interest Income	$ 32,571	$ 31,232	$ 31,822
Average Rate - Interest earning assets (as a percent)	4.20%	4.20%	4.40%
Average Balance - Non-Interest earning assets	$ 109,680	$ 112,231	$ 121,712
Average Balance - Total assets	884,624	864,525	843,555
Average Balance - Interest bearing liabilities	715,509	694,924	667,276
Interest Expense	$ 16,066	$ 15,716	$ 16,674
Average Rate - Interest bearing liabilities (as a percent)	2.20%	2.30%	2.50%
Average Balance - Non-interest bearing liabilities	$ 107,067	$ 111,025	$ 119,808
Average Balance - Total liabilities	822,576	805,949	787,084
Average Balance - Shareholders' equity	62,017	58,556	55,896
Average Balance - Non-controlling interests	31	20	575
Average Balance - Total equity	62,048	58,576	56,471
Average Balance - Total liabilities and equity	884,624	864,525	843,555
Payables due to other financial institutions | Australia
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	16,180	15,740	16,570
Interest Expense	$ 262	$ 241	$ 301
Average Rate - Interest bearing liabilities (as a percent)	1.60%	1.50%	1.80%
Payables due to other financial institutions | New Zealand
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 1,135	$ 642	$ 567
Interest Expense	$ 17	$ 9	$ 10
Average Rate - Interest bearing liabilities (as a percent)	1.50%	1.40%	1.80%
Payables due to other financial institutions | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 1,963	$ 2,451	$ 2,811
Interest Expense	$ 40	$ 29	$ 34
Average Rate - Interest bearing liabilities (as a percent)	2.00%	1.20%	1.20%
Deposits and other borrowings | Australia
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 422,006	$ 409,586	$ 376,115
Interest Expense	$ 7,308	$ 7,344	$ 7,801
Average Rate - Interest bearing liabilities (as a percent)	1.70%	1.80%	2.10%
Deposits and other borrowings | New Zealand
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 51,368	$ 51,042	$ 48,251
Interest Expense	$ 1,196	$ 1,173	$ 1,280
Average Rate - Interest bearing liabilities (as a percent)	2.30%	2.30%	2.70%
Deposits and other borrowings | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 26,599	$ 24,085	$ 29,336
Interest Expense	$ 517	$ 351	$ 288
Average Rate - Interest bearing liabilities (as a percent)	1.90%	1.50%	1.00%
Loan capital | Australia
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 15,028	$ 15,841	$ 12,150
Interest Expense	$ 635	$ 638	$ 513
Average Rate - Interest bearing liabilities (as a percent)	4.20%	4.00%	4.20%
Loan capital | New Zealand
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 1,645	$ 43
Interest Expense	$ 84	$ 2
Average Rate - Interest bearing liabilities (as a percent)	5.10%	4.70%
Loan capital | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 1,324	$ 1,324	$ 1,687
Interest Expense	$ 55	$ 53	$ 76
Average Rate - Interest bearing liabilities (as a percent)	4.20%	4.00%	4.50%
Other interest bearing liabilities | Australia
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 163,949	$ 157,842	$ 164,871
Interest Expense	$ 5,369	$ 5,117	$ 5,574
Average Rate - Interest bearing liabilities (as a percent)	3.30%	3.20%	3.40%
Other interest bearing liabilities | New Zealand
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 14,218	$ 15,821	$ 14,067
Interest Expense	$ 580	$ 747	$ 787
Average Rate - Interest bearing liabilities (as a percent)	4.10%	4.70%	5.60%
Other interest bearing liabilities | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest bearing liabilities	$ 94	$ 507	$ 851
Interest Expense	$ 3	$ 12	$ 10
Average Rate - Interest bearing liabilities (as a percent)	3.20%	2.40%	1.20%
Deposits and payables due to other financial institutions | Australia
Average balance sheet and interest rates
Average Balance - Non-interest bearing liabilities	$ 42,377	$ 40,514	$ 36,594
Deposits and payables due to other financial institutions | New Zealand
Average balance sheet and interest rates
Average Balance - Non-interest bearing liabilities	5,289	4,716	4,105
Deposits and payables due to other financial institutions | Other Overseas
Average balance sheet and interest rates
Average Balance - Non-interest bearing liabilities	824	869	1,023
Derivative financial instruments
Average balance sheet and interest rates
Average Balance - Non-interest bearing liabilities	37,504	42,780	55,956
Life insurance liabilities
Average balance sheet and interest rates
Average Balance - Non-interest bearing liabilities	8,874	10,560	10,985
Other liabilities
Average balance sheet and interest rates
Average Balance - Non-interest bearing liabilities	12,199	11,586	11,145
Receivables due from other financial institutions | Australia
Average balance sheet and interest rates
Average Balance - Interest earning assets	4,169	7,422	9,616
Interest Income	$ 77	$ 82	$ 84
Average Rate - Interest earning assets (as a percent)	1.80%	1.10%	0.90%
Receivables due from other financial institutions | New Zealand
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 350	$ 850	$ 449
Interest Income	$ 6	$ 8	$ 6
Average Rate - Interest earning assets (as a percent)	1.70%	0.90%	1.30%
Receivables due from other financial institutions | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 1,046	$ 851	$ 1,292
Interest Income	$ 25	$ 20	$ 10
Average Rate - Interest earning assets (as a percent)	2.40%	2.40%	0.80%
Trading securities and financial assets designated at fair value | Australia
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 17,420	$ 18,418	$ 18,632
Interest Income	$ 423	$ 416	$ 481
Average Rate - Interest earning assets (as a percent)	2.40%	2.30%	2.60%
Trading securities and financial assets designated at fair value | New Zealand
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 3,538	$ 4,238	$ 4,105
Interest Income	$ 80	$ 96	$ 118
Average Rate - Interest earning assets (as a percent)	2.30%	2.30%	2.90%
Trading securities and financial assets designated at fair value | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 2,286	$ 3,214	$ 3,339
Interest Income	$ 39	$ 46	$ 46
Average Rate - Interest earning assets (as a percent)	1.70%	1.40%	1.40%
Available-for-sale securities | Australia
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 55,458	$ 52,457	$ 48,151
Interest Income	$ 1,692	$ 1,573	$ 1,581
Average Rate - Interest earning assets (as a percent)	3.10%	3.00%	3.30%
Available-for-sale securities | New Zealand
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 3,304	$ 3,479	$ 3,193
Interest Income	$ 136	$ 147	$ 141
Average Rate - Interest earning assets (as a percent)	4.10%	4.20%	4.40%
Available-for-sale securities | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 2,778	$ 2,272	$ 2,710
Interest Income	$ 86	$ 75	$ 86
Average Rate - Interest earning assets (as a percent)	3.10%	3.30%	3.20%
Regulatory deposits with central banks overseas | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 1,040	$ 1,035	$ 1,197
Interest Income	$ 23	$ 17	$ 13
Average Rate - Interest earning assets (as a percent)	2.20%	1.60%	1.10%
Loans and other receivables | Australia
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 579,749	$ 557,865	$ 532,172
Interest Income	$ 25,709	$ 24,772	$ 25,162
Average Rate - Interest earning assets (as a percent)	4.40%	4.40%	4.70%
Loans and other receivables | New Zealand
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 73,804	$ 72,938	$ 68,370
Interest Income	$ 3,514	$ 3,460	$ 3,617
Average Rate - Interest earning assets (as a percent)	4.80%	4.70%	5.30%
Loans and other receivables | Other Overseas
Average balance sheet and interest rates
Average Balance - Interest earning assets	$ 30,002	$ 27,255	$ 28,617
Interest Income	$ 761	$ 520	$ 477
Average Rate - Interest earning assets (as a percent)	2.50%	1.90%	1.70%
Cash, receivables due from other financial institutions and regulatory deposits
Average balance sheet and interest rates
Average Balance - Non-Interest earning assets	$ 2,376	$ 2,000	$ 2,431
Derivative financial instruments
Average balance sheet and interest rates
Average Balance - Non-Interest earning assets	34,702	37,673	48,666
Life insurance assets
Average balance sheet and interest rates
Average Balance - Non-Interest earning assets	10,664	12,447	12,702
Other assets
Average balance sheet and interest rates
Average Balance - Non-Interest earning assets	$ 61,938	$ 60,111	$ 57,913

XML

Average balance sheet and interest rates - Variances (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Average balance sheet and interest rates
Interest income - Change Due to Volume	$ 1,077	$ 1,551
Interest income - Change Due to Rate	262	(2,141)
Total change in interest income	1,339	(590)
Interest expense - Change Due to Volume	429	696
Interest expense - Change Due to Rate	(79)	(1,654)
Total change in interest expense	350	(958)
Net interest income - Change Due to Volume	648	855
Net interest income - Change Due to Rate	341	(487)
Total change in net interest income	989	368
Australia
Average balance sheet and interest rates
Net interest income - Change Due to Volume	608	736
Net interest income - Change Due to Rate	216	(352)
Total change in net interest income	824	384
New Zealand
Average balance sheet and interest rates
Net interest income - Change Due to Volume		88
Net interest income - Change Due to Rate	79	(113)
Total change in net interest income	79	(25)
Other Overseas
Average balance sheet and interest rates
Net interest income - Change Due to Volume	40	31
Net interest income - Change Due to Rate	46	(22)
Total change in net interest income	86	9
Payables due to other financial institutions | Australia
Average balance sheet and interest rates
Interest expense - Change Due to Volume	7	(15)
Interest expense - Change Due to Rate	14	(45)
Total change in interest expense	21	(60)
Payables due to other financial institutions | New Zealand
Average balance sheet and interest rates
Interest expense - Change Due to Volume	7	1
Interest expense - Change Due to Rate	1	(2)
Total change in interest expense	8	(1)
Payables due to other financial institutions | Other Overseas
Average balance sheet and interest rates
Interest expense - Change Due to Volume	(6)	(4)
Interest expense - Change Due to Rate	17	(1)
Total change in interest expense	11	(5)
Deposits and other borrowings | Australia
Average balance sheet and interest rates
Interest expense - Change Due to Volume	223	693
Interest expense - Change Due to Rate	(259)	(1,150)
Total change in interest expense	(36)	(457)
Deposits and other borrowings | New Zealand
Average balance sheet and interest rates
Interest expense - Change Due to Volume	7	75
Interest expense - Change Due to Rate	16	(182)
Total change in interest expense	23	(107)
Deposits and other borrowings | Other Overseas
Average balance sheet and interest rates
Interest expense - Change Due to Volume	37	(52)
Interest expense - Change Due to Rate	129	115
Total change in interest expense	166	63
Loan capital | Australia
Average balance sheet and interest rates
Interest expense - Change Due to Volume	(33)	156
Interest expense - Change Due to Rate	30	(31)
Total change in interest expense	(3)	125
Loan capital | New Zealand
Average balance sheet and interest rates
Interest expense - Change Due to Volume	75	2
Interest expense - Change Due to Rate	7
Total change in interest expense	82	2
Loan capital | Other Overseas
Average balance sheet and interest rates
Interest expense - Change Due to Volume		(16)
Interest expense - Change Due to Rate	2	(7)
Total change in interest expense	2	(23)
Other interest bearing liabilities | Australia
Average balance sheet and interest rates
Interest expense - Change Due to Volume	198	(237)
Interest expense - Change Due to Rate	54	(220)
Total change in interest expense	252	(457)
Other interest bearing liabilities | New Zealand
Average balance sheet and interest rates
Interest expense - Change Due to Volume	(76)	98
Interest expense - Change Due to Rate	(91)	(138)
Total change in interest expense	(167)	(40)
Other interest bearing liabilities | Other Overseas
Average balance sheet and interest rates
Interest expense - Change Due to Volume	(10)	(5)
Interest expense - Change Due to Rate	1	7
Total change in interest expense	(9)	2
Receivables due from other financial institutions | Australia
Average balance sheet and interest rates
Interest income - Change Due to Volume	(36)	(19)
Interest income - Change Due to Rate	31	17
Total change in interest income	(5)	(2)
Receivables due from other financial institutions | New Zealand
Average balance sheet and interest rates
Interest income - Change Due to Volume	(5)	5
Interest income - Change Due to Rate	3	(3)
Total change in interest income	(2)	2
Receivables due from other financial institutions | Other Overseas
Average balance sheet and interest rates
Interest income - Change Due to Volume	5	(3)
Interest income - Change Due to Rate		13
Total change in interest income	5	10
Trading securities and financial assets designated at fair value | Australia
Average balance sheet and interest rates
Interest income - Change Due to Volume	(23)	(6)
Interest income - Change Due to Rate	30	(59)
Total change in interest income	7	(65)
Trading securities and financial assets designated at fair value | New Zealand
Average balance sheet and interest rates
Interest income - Change Due to Volume	(16)	4
Interest income - Change Due to Rate		(26)
Total change in interest income	(16)	(22)
Trading securities and financial assets designated at fair value | Other Overseas
Average balance sheet and interest rates
Interest income - Change Due to Volume	(13)	(2)
Interest income - Change Due to Rate	6	2
Total change in interest income	(7)
Available-for-sale securities | Australia
Average balance sheet and interest rates
Interest income - Change Due to Volume	90	141
Interest income - Change Due to Rate	29	(149)
Total change in interest income	119	(8)
Available-for-sale securities | New Zealand
Average balance sheet and interest rates
Interest income - Change Due to Volume	(7)	13
Interest income - Change Due to Rate	(4)	(7)
Total change in interest income	(11)	6
Available-for-sale securities | Other Overseas
Average balance sheet and interest rates
Interest income - Change Due to Volume	17	(14)
Interest income - Change Due to Rate	(6)	3
Total change in interest income	11	(11)
Regulatory deposits with central banks overseas | Other Overseas
Average balance sheet and interest rates
Interest income - Change Due to Volume		(2)
Interest income - Change Due to Rate	6	6
Total change in interest income	6	4
Loans and other receivables | Australia
Average balance sheet and interest rates
Interest income - Change Due to Volume	972	1,217
Interest income - Change Due to Rate	(35)	(1,607)
Total change in interest income	937	(390)
Loans and other receivables | New Zealand
Average balance sheet and interest rates
Interest income - Change Due to Volume	41	242
Interest income - Change Due to Rate	13	(399)
Total change in interest income	54	(157)
Loans and other receivables | Other Overseas
Average balance sheet and interest rates
Interest income - Change Due to Volume	52	(25)
Interest income - Change Due to Rate	189	68
Total change in interest income	$ 241	$ 43

XML

Receivables due from other financial institutions (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Receivables due from other financial institutions
Conduit assets		$ 392
Cash collateral	$ 4,332	4,834
Interbank lending	1,458	1,902
Total receivables due from other financial institutions	5,790	7,128
Parent Entity
Receivables due from other financial institutions
Cash collateral	4,267	4,462
Interbank lending	1,444	1,895
Total receivables due from other financial institutions	$ 5,711	$ 6,357

XML

Trading securities and financial assets designated at fair value (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Financial assets
Total trading securities and financial assets designated at fair value	$ 22,134	$ 25,324	$ 21,168
Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	20,417	22,946
Trading securities
Financial assets
Total trading securities and financial assets designated at fair value	17,779	15,860	15,288
Trading securities | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	16,673	14,151
Trading securities | Government and semi-government securities
Financial assets
Total trading securities and financial assets designated at fair value	13,062	11,339	9,267
Trading securities | Government and semi-government securities | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	12,253	10,452
Trading securities | Other debt securities
Financial assets
Total trading securities and financial assets designated at fair value	4,622	4,453	5,960
Trading securities | Other debt securities | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	4,325	3,631
Trading securities | Equity securities
Financial assets
Total trading securities and financial assets designated at fair value	8	11	7
Trading securities | Equity securities | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	8	11
Trading securities | Other
Financial assets
Total trading securities and financial assets designated at fair value	87	57	54
Trading securities | Other | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	87	57
Securities purchased under agreement to resell
Financial assets
Total trading securities and financial assets designated at fair value	1,379	6,887	3,260
Securities purchased under agreement to resell | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	1,379	6,887
Other financial assets designated at fair value
Financial assets
Total trading securities and financial assets designated at fair value	2,976	2,577	2,620
Other financial assets designated at fair value | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	2,365	1,908
Other financial assets designated at fair value | Other debt securities
Financial assets
Total trading securities and financial assets designated at fair value	2,715	2,259	2,319
Other financial assets designated at fair value | Other debt securities | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	2,302	1,848
Other financial assets designated at fair value | Equity securities
Financial assets
Total trading securities and financial assets designated at fair value	261	318	$ 301
Other financial assets designated at fair value | Equity securities | Parent Entity
Financial assets
Total trading securities and financial assets designated at fair value	$ 63	$ 60

XML

Available-for-sale securities by type (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Financial assets
Available-for-sale securities	$ 61,119	$ 60,710	$ 60,665
Parent Entity
Financial assets
Available-for-sale securities	56,513	55,800
Government and semi-government securities
Financial assets
Available-for-sale securities	42,979	43,382	46,255
Government and semi-government securities | Parent Entity
Financial assets
Available-for-sale securities	40,345	40,491
Other debt securities
Financial assets
Available-for-sale securities	17,756	16,863	14,323
Other debt securities | Parent Entity
Financial assets
Available-for-sale securities	16,101	15,252
Equity securities
Financial assets
Available-for-sale securities measured at cost	0	0	59
Available-for-sale securities	384	465	$ 87
Equity securities | Parent Entity
Financial assets
Available-for-sale securities measured at cost	0	0
Available-for-sale securities	$ 67	$ 57

XML

Available-for-sale securities by contractual maturity (Details) $ in Millions	Sep. 30, 2018 AUD ($)
Financial assets
Tax-exempt securities	$ 0
Available-for-sale securities, maturities	61,119
No later than one year
Financial assets
Available-for-sale securities, maturities	6,898
Over 1 Year to 5 Years
Financial assets
Available-for-sale securities, maturities	40,764
Over 5 Years to 10 Years
Financial assets
Available-for-sale securities, maturities	13,073
No Specific Maturity
Financial assets
Available-for-sale securities, maturities	384
Government and semi-government securities
Financial assets
Available-for-sale securities, maturities	$ 42,979
Weighted average yield	3.20%
Government and semi-government securities | No later than one year
Financial assets
Available-for-sale securities, maturities	$ 4,780
Weighted average yield	3.10%
Government and semi-government securities | Over 1 Year to 5 Years
Financial assets
Available-for-sale securities, maturities	$ 25,126
Weighted average yield	3.30%
Government and semi-government securities | Over 5 Years to 10 Years
Financial assets
Available-for-sale securities, maturities	$ 13,073
Weighted average yield	2.90%
Other debt securities
Financial assets
Available-for-sale securities, maturities	$ 17,756
Weighted average yield	2.90%
Other debt securities | No later than one year
Financial assets
Available-for-sale securities, maturities	$ 2,118
Weighted average yield	3.00%
Other debt securities | Over 1 Year to 5 Years
Financial assets
Available-for-sale securities, maturities	$ 15,638
Weighted average yield	2.90%
Equity securities
Financial assets
Available-for-sale securities, maturities	$ 384
Equity securities | No Specific Maturity
Financial assets
Available-for-sale securities, maturities	$ 384

XML

Available-for-sale securities, additional details (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Financial assets
Available-for-sale securities	$ 61,119	$ 60,710	$ 60,665
US Government treasury notes
Financial assets
Available-for-sale securities	5,229	$ 6,796	$ 6,413
Queensland Treasury Corporation
Financial assets
Debt securities with aggregate book value exceeding 10% of equity attributable to Westpac's owners	11,144
Australian Commonwealth Government
Financial assets
Debt securities with aggregate book value exceeding 10% of equity attributable to Westpac's owners	$ 10,657

XML

Loans - By location of booking office and product type (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Financial assets
Loans	$ 709,690	$ 684,919	$ 661,926	$ 623,316	$ 580,343
Securitised loans	7,135	7,651
Fixed rate bills designated at fair value to reduce an accounting mismatch
Financial assets
Loans	3,250	4,587
Change in fair value attributable to credit risk recognised during the year	1	6
Cumulative change in fair value attributable to credit risk	(22)	(23)
Parent Entity
Financial assets
Loans	630,168	606,237
Securitised loans	85,965	82,135
Parent Entity | Fixed rate bills designated at fair value to reduce an accounting mismatch
Financial assets
Change in fair value attributable to credit risk recognised during the year	1	6
Cumulative change in fair value attributable to credit risk	(22)	(23)
Gross/Cost
Financial assets
Loans	712,504	687,785	665,256	626,344	583,516
Gross/Cost | Parent Entity
Financial assets
Loans	632,575	608,610
Provision for impairment charges on loans
Financial assets
Loans	(2,814)	(2,866)	(3,330)	(3,028)	(3,173)
Provision for impairment charges on loans | Parent Entity
Financial assets
Loans	(2,407)	(2,373)
Australia | Gross/Cost
Financial assets
Loans	622,085	601,646	579,244	545,655	511,255
Australia | Gross/Cost | Parent Entity
Financial assets
Loans	617,318	595,188
Australia | Housing | Gross/Cost
Financial assets
Loans	444,741	427,167
Australia | Housing | Gross/Cost | Parent Entity
Financial assets
Loans	444,730	427,155
Australia | Personal (loans and cards) | Gross/Cost
Financial assets
Loans	21,079	21,952
Australia | Personal (loans and cards) | Gross/Cost | Parent Entity
Financial assets
Loans	20,090	19,905
Australia | Business | Gross/Cost
Financial assets
Loans	154,347	150,542
Australia | Business | Gross/Cost | Parent Entity
Financial assets
Loans	150,580	146,143
Australia | Margin lending | Gross/Cost
Financial assets
Loans	1,830	1,885
Australia | Margin lending | Gross/Cost | Parent Entity
Financial assets
Loans	1,830	1,885
Australia | Other | Gross/Cost
Financial assets
Loans	88	100
Australia | Other | Gross/Cost | Parent Entity
Financial assets
Loans	88	100
New Zealand | Gross/Cost
Financial assets
Loans	74,342	71,806	72,495	63,729	58,470
New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	376	321
New Zealand | Housing | Gross/Cost
Financial assets
Loans	44,772	43,198
New Zealand | Personal (loans and cards) | Gross/Cost
Financial assets
Loans	1,793	1,856
New Zealand | Business | Gross/Cost
Financial assets
Loans	27,701	26,667
New Zealand | Business | Gross/Cost | Parent Entity
Financial assets
Loans	376	321
New Zealand | Other | Gross/Cost
Financial assets
Loans	76	85
Other Overseas | Gross/Cost
Financial assets
Loans	16,077	14,333	$ 13,517	$ 16,960	$ 13,791
Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	14,881	13,101
Other Overseas | Trade finance | Gross/Cost
Financial assets
Loans	3,600	2,818
Other Overseas | Trade finance | Gross/Cost | Parent Entity
Financial assets
Loans	3,600	2,818
Other Overseas | Other | Gross/Cost
Financial assets
Loans	12,477	11,515
Other Overseas | Other | Gross/Cost | Parent Entity
Financial assets
Loans	$ 11,281	$ 10,283

XML

Loans - Finance lease receivables included in loans (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial assets
Unearned future finance income on finance lease receivables	$ (870)	$ (796)
Net investment in finance lease receivables	5,283	4,785
Accumulated allowance for uncollectable minimum lease payments	(8)	(6)
Net investment in finance lease receivables after accumulated allowance	5,275	4,779
Parent Entity
Financial assets
Unearned future finance income on finance lease receivables	(727)	(606)
Net investment in finance lease receivables	4,113	3,413
Accumulated allowance for uncollectable minimum lease payments	(3)	(2)
Net investment in finance lease receivables after accumulated allowance	4,110	3,411
No later than one year
Financial assets
Gross investment in finance lease receivables	692	661
Net investment in finance lease receivables	677	634
No later than one year | Parent Entity
Financial assets
Gross investment in finance lease receivables	473	433
Net investment in finance lease receivables	458	416
Over 1 Year to 5 Years
Financial assets
Gross investment in finance lease receivables	4,866	4,619
Net investment in finance lease receivables	4,116	3,913
Over 1 Year to 5 Years | Parent Entity
Financial assets
Gross investment in finance lease receivables	3,804	3,349
Net investment in finance lease receivables	3,192	2,809
Over 5 Years
Financial assets
Gross investment in finance lease receivables	595	301
Net investment in finance lease receivables	490	238
Over 5 Years | Parent Entity
Financial assets
Gross investment in finance lease receivables	563	237
Net investment in finance lease receivables	$ 463	$ 188

XML

Loans - Presented based on industry classification (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Financial assets
Loans	$ 709,690	$ 684,919	$ 661,926	$ 623,316	$ 580,343
Parent Entity
Financial assets
Loans	630,168	606,237
Gross/Cost
Financial assets
Loans	712,504	687,785	665,256	626,344	583,516
Gross/Cost | Parent Entity
Financial assets
Loans	632,575	608,610
Provision for impairment charges on loans
Financial assets
Loans	(2,814)	(2,866)	(3,330)	(3,028)	(3,173)
Provision for impairment charges on loans | Parent Entity
Financial assets
Loans	(2,407)	(2,373)
Australia | Gross/Cost
Financial assets
Loans	622,085	601,646	579,244	545,655	511,255
Australia | Gross/Cost | Parent Entity
Financial assets
Loans	617,318	595,188
New Zealand | Gross/Cost
Financial assets
Loans	74,342	71,806	72,495	63,729	58,470
New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	376	321
Other Overseas | Gross/Cost
Financial assets
Loans	16,077	14,333	13,517	16,960	13,791
Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	14,881	13,101
Accommodation, cafes and restaurants | Australia | Gross/Cost
Financial assets
Loans	8,297	8,177	7,536	7,490	7,273
Accommodation, cafes and restaurants | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	8,228	8,098
Accommodation, cafes and restaurants | New Zealand | Gross/Cost
Financial assets
Loans	323	290	256	182	159
Accommodation, cafes and restaurants | Other Overseas | Gross/Cost
Financial assets
Loans	112	97	118	111	127
Accommodation, cafes and restaurants | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	70	88
Agriculture, forestry and fishing | Australia | Gross/Cost
Financial assets
Loans	8,642	8,182	7,953	7,667	7,246
Agriculture, forestry and fishing | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	8,584	8,063
Agriculture, forestry and fishing | New Zealand | Gross/Cost
Financial assets
Loans	8,138	7,772	7,788	6,860	6,019
Agriculture, forestry and fishing | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	2	1
Agriculture, forestry and fishing | Other Overseas | Gross/Cost
Financial assets
Loans	19	5	12	568	465
Agriculture, forestry and fishing | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	4	4
Construction | Australia | Gross/Cost
Financial assets
Loans	6,751	6,043	5,797	5,596	5,533
Construction | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	6,247	5,440
Construction | New Zealand | Gross/Cost
Financial assets
Loans	502	447	396	359	361
Construction | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	5	3
Construction | Other Overseas | Gross/Cost
Financial assets
Loans	71	55	147	247	120
Construction | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	59	44
Finance and insurance | Australia | Gross/Cost
Financial assets
Loans	14,059	12,923	14,298	13,175	12,202
Finance and insurance | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	14,006	12,882
Finance and insurance | New Zealand | Gross/Cost
Financial assets
Loans	2,903	2,478	2,682	1,725	1,158
Finance and insurance | Other Overseas | Gross/Cost
Financial assets
Loans	4,098	4,289	2,767	4,297	2,006
Finance and insurance | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	4,093	4,284
Government, administration and defence | Australia | Gross/Cost
Financial assets
Loans	628	554	675	796	750
Government, administration and defence | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	620	541
Government, administration and defence | New Zealand | Gross/Cost
Financial assets
Loans	114	137	163	292	350
Government, administration and defence | Other Overseas | Gross/Cost
Financial assets
Loans	25	4	4	130	35
Government, administration and defence | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	24	3
Manufacturing | Australia | Gross/Cost
Financial assets
Loans	9,298	9,054	9,140	9,342	8,876
Manufacturing | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	9,072	8,782
Manufacturing | New Zealand | Gross/Cost
Financial assets
Loans	2,199	2,090	2,324	2,110	1,848
Manufacturing | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	98	88
Manufacturing | Other Overseas | Gross/Cost
Financial assets
Loans	3,257	2,982	2,619	3,848	2,886
Manufacturing | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	3,253	2,969
Mining | Australia | Gross/Cost
Financial assets
Loans	3,311	3,025	3,641	4,415	3,207
Mining | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	3,279	2,985
Mining | New Zealand | Gross/Cost
Financial assets
Loans	206	141	280	407	484
Mining | Other Overseas | Gross/Cost
Financial assets
Loans	322	349	535	778	1,617
Mining | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	323	349
Property | Australia | Gross/Cost
Financial assets
Loans	45,471	43,220	44,785	44,667	41,718
Property | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	45,471	43,220
Property | New Zealand | Gross/Cost
Financial assets
Loans	5,997	5,858	5,925	5,301	5,116
Property | Other Overseas | Gross/Cost
Financial assets
Loans	467	491	479	409	352
Property | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	234	288
Property services and business services | Australia | Gross/Cost
Financial assets
Loans	13,477	12,050	11,674	10,703	10,045
Property services and business services | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	12,433	10,979
Property services and business services | New Zealand | Gross/Cost
Financial assets
Loans	1,073	1,113	1,084	925	869
Property services and business services | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	8	9
Property services and business services | Other Overseas | Gross/Cost
Financial assets
Loans	1,684	540	526	403	140
Property services and business services | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	1,595	525
Services | Australia | Gross/Cost
Financial assets
Loans	12,158	12,950	12,362	10,798	9,629
Services | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	11,891	12,605
Services | New Zealand | Gross/Cost
Financial assets
Loans	1,733	1,810	1,396	1,173	996
Services | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans		1
Services | Other Overseas | Gross/Cost
Financial assets
Loans	205	205	99	182	242
Services | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	187	74
Trade | Australia | Gross/Cost
Financial assets
Loans	16,501	16,063	16,044	15,484	14,449
Trade | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	16,291	15,760
Trade | New Zealand | Gross/Cost
Financial assets
Loans	2,509	2,163	2,333	2,003	1,878
Trade | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans	263	217
Trade | Other Overseas | Gross/Cost
Financial assets
Loans	2,988	2,680	3,463	2,898	3,248
Trade | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	2,802	2,446
Transport and storage | Australia | Gross/Cost
Financial assets
Loans	8,853	8,624	9,015	9,940	9,186
Transport and storage | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	8,456	8,167
Transport and storage | New Zealand | Gross/Cost
Financial assets
Loans	1,029	1,080	1,257	1,094	868
Transport and storage | Other Overseas | Gross/Cost
Financial assets
Loans	1,232	1,389	1,186	1,099	689
Transport and storage | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	1,127	1,159
Utilities | Australia | Gross/Cost
Financial assets
Loans	4,350	5,237	4,025	3,554	3,232
Utilities | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	4,324	5,206
Utilities | New Zealand | Gross/Cost
Financial assets
Loans	1,003	1,237	1,600	1,021	1,004
Utilities | Other Overseas | Gross/Cost
Financial assets
Loans	736	514	442	722	701
Utilities | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	734	508
Retail lending | Australia | Gross/Cost
Financial assets
Loans	463,609	451,315	429,522	400,441	376,662
Retail lending | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	462,568	449,207
Retail lending | New Zealand | Gross/Cost
Financial assets
Loans	46,613	45,190	45,011	40,277	37,222
Retail lending | Other Overseas | Gross/Cost
Financial assets
Loans	683	657	1,120	1,191	1,111
Retail lending | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	277	280
Other | Australia | Gross/Cost
Financial assets
Loans	6,680	4,229	$ 2,777	1,587	1,247
Other | Australia | Gross/Cost | Parent Entity
Financial assets
Loans	5,848	3,253
Other | New Zealand | Gross/Cost
Financial assets
Loans					138
Other | New Zealand | Gross/Cost | Parent Entity
Financial assets
Loans		2
Other | Other Overseas | Gross/Cost
Financial assets
Loans	178	76		$ 77	$ 52
Other | Other Overseas | Gross/Cost | Parent Entity
Financial assets
Loans	$ 99	$ 80

XML

Loans - Consolidated contractual maturity distribution (Details) $ in Millions	Sep. 30, 2018 AUD ($)
Financial assets
Loans and receivables, contractual maturity amount	$ 712,504
Australia
Financial assets
Loans and receivables, contractual maturity amount	622,085
Overseas
Financial assets
Loans and receivables, contractual maturity amount	90,419
No later than one year
Financial assets
Loans and receivables, contractual maturity amount	95,946
No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	71,122
No later than one year | Overseas
Financial assets
Loans and receivables, contractual maturity amount	24,824
Over 1 Year to 5 Years
Financial assets
Loans and receivables, contractual maturity amount	125,791
Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	106,833
Over 1 Year to 5 Years | Overseas
Financial assets
Loans and receivables, contractual maturity amount	18,958
Over 5 Years
Financial assets
Loans and receivables, contractual maturity amount	490,767
Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	444,130
Over 5 Years | Overseas
Financial assets
Loans and receivables, contractual maturity amount	46,637
Accommodation, cafes and restaurants | Australia
Financial assets
Loans and receivables, contractual maturity amount	8,297
Accommodation, cafes and restaurants | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	3,381
Accommodation, cafes and restaurants | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,457
Accommodation, cafes and restaurants | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	459
Agriculture, forestry and fishing | Australia
Financial assets
Loans and receivables, contractual maturity amount	8,642
Agriculture, forestry and fishing | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	3,173
Agriculture, forestry and fishing | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,763
Agriculture, forestry and fishing | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	706
Construction | Australia
Financial assets
Loans and receivables, contractual maturity amount	6,751
Construction | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,647
Construction | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,301
Construction | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	803
Finance and insurance | Australia
Financial assets
Loans and receivables, contractual maturity amount	14,059
Finance and insurance | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	7,465
Finance and insurance | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,896
Finance and insurance | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,698
Government, administration and defence | Australia
Financial assets
Loans and receivables, contractual maturity amount	628
Government, administration and defence | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	125
Government, administration and defence | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	174
Government, administration and defence | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	329
Manufacturing | Australia
Financial assets
Loans and receivables, contractual maturity amount	9,298
Manufacturing | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	3,263
Manufacturing | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,701
Manufacturing | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,334
Mining | Australia
Financial assets
Loans and receivables, contractual maturity amount	3,311
Mining | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	548
Mining | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,281
Mining | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,482
Property | Australia
Financial assets
Loans and receivables, contractual maturity amount	45,471
Property | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	19,019
Property | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	22,782
Property | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	3,670
Property services and business services | Australia
Financial assets
Loans and receivables, contractual maturity amount	13,477
Property services and business services | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,029
Property services and business services | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	7,547
Property services and business services | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,901
Services | Australia
Financial assets
Loans and receivables, contractual maturity amount	12,158
Services | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	3,248
Services | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	7,185
Services | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,725
Trade | Australia
Financial assets
Loans and receivables, contractual maturity amount	16,501
Trade | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	6,737
Trade | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	8,048
Trade | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,716
Transport and storage | Australia
Financial assets
Loans and receivables, contractual maturity amount	8,853
Transport and storage | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,688
Transport and storage | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	5,660
Transport and storage | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,505
Utilities | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,350
Utilities | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,105
Utilities | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	2,625
Utilities | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	620
Retail lending | Australia
Financial assets
Loans and receivables, contractual maturity amount	463,609
Retail lending | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	14,618
Retail lending | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	24,316
Retail lending | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	424,675
Other | Australia
Financial assets
Loans and receivables, contractual maturity amount	6,680
Other | No later than one year | Australia
Financial assets
Loans and receivables, contractual maturity amount	1,076
Other | Over 1 Year to 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	4,097
Other | Over 5 Years | Australia
Financial assets
Loans and receivables, contractual maturity amount	$ 1,507

XML

Loans - Interest rate segmentation (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial assets
Loans and receivables, contractual maturity amount	$ 712,504
Australia
Financial assets
Loans and receivables, contractual maturity amount	622,085
Overseas
Financial assets
Loans and receivables, contractual maturity amount	90,419
Over 1 Year
Financial assets
Loans and receivables, contractual maturity amount	616,558	$ 597,768
Over 1 Year | Variable Interest Rates
Financial assets
Loans and receivables, contractual maturity amount	442,702	436,014
Over 1 Year | Fixed interest rate
Financial assets
Loans and receivables, contractual maturity amount	173,856	161,754
Over 1 Year | Australia
Financial assets
Loans and receivables, contractual maturity amount	550,963	534,969
Over 1 Year | Australia | Variable Interest Rates
Financial assets
Loans and receivables, contractual maturity amount	423,886	417,643
Over 1 Year | Australia | Fixed interest rate
Financial assets
Loans and receivables, contractual maturity amount	127,077	117,326
Over 1 Year | Overseas
Financial assets
Loans and receivables, contractual maturity amount	65,595	62,799
Over 1 Year | Overseas | Variable Interest Rates
Financial assets
Loans and receivables, contractual maturity amount	18,816	18,371
Over 1 Year | Overseas | Fixed interest rate
Financial assets
Loans and receivables, contractual maturity amount	$ 46,779	$ 44,428

XML

Provisions for impairment charges - Reconciliation (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Provisions for impairment charges on loans and credit commitments
Opening balance	$ 3,119	$ 3,602	$ 3,332	$ 3,481
Write-backs	(150)	(288)	(210)
Write-offs	(1,127)	(1,656)	(1,189)	(1,238)	$ (1,408)
Closing balance	3,053	3,119	3,602	3,332	3,481
Parent Entity
Provisions for impairment charges on loans and credit commitments
Opening balance	2,597
Write-backs	(131)	(218)
Closing balance	2,613	2,597
Individually assessed
Provisions for impairment charges on loans and credit commitments
Opening balance	480	869	669	867
Provisions raised	371	610	727
Write-backs	(150)	(288)	(210)
Write-offs	(269)	(688)	(287)	(445)	(706)
Interest adjustment	(11)	(16)	(13)
Other adjustments	1	(7)	(17)
Closing balance	422	480	869	669	867
Individually assessed | Parent Entity
Provisions for impairment charges on loans and credit commitments
Opening balance	417	752
Provisions raised	341	581
Write-backs	(131)	(218)
Write-offs	(248)	(681)
Interest adjustment	(11)	(16)
Other adjustments	7	(1)
Closing balance	375	417	752
Collectively assessed
Provisions for impairment charges on loans and credit commitments
Opening balance	2,639	2,733	2,663	2,614
Provisions raised	668	699	744
Write-offs	(858)	(968)	(902)	(793)	(702)
Interest adjustment	179	188	193
Other adjustments	3	(13)	35
Closing balance	2,631	2,639	2,733	$ 2,663	$ 2,614
Collectively assessed | Parent Entity
Provisions for impairment charges on loans and credit commitments
Opening balance	2,180	2,198
Provisions raised	610	628
Write-offs	(742)	(810)
Interest adjustment	148	152
Other adjustments	42	12
Closing balance	$ 2,238	$ 2,180	$ 2,198

XML

Provisions for impairment charges - Balances (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Provisions for impairment charges on loans and credit commitments
Provisions for impairment charges and credit commitments	$ 3,053	$ 3,119	$ 3,602	$ 3,332	$ 3,481
Parent Entity
Provisions for impairment charges on loans and credit commitments
Provisions for impairment charges and credit commitments	2,613	2,597
Provisions for Impairment on Credit Commitments
Provisions for impairment charges on loans and credit commitments
Provisions for impairment charges and credit commitments	239	253	272
Provisions for Impairment on Credit Commitments | Parent Entity
Provisions for impairment charges on loans and credit commitments
Provisions for impairment charges and credit commitments	206	224
Loans
Provisions for impairment charges on loans and credit commitments
Provisions for impairment charges and credit commitments	2,814	2,866	$ 3,330
Loans | Parent Entity
Provisions for impairment charges on loans and credit commitments
Provisions for impairment charges and credit commitments	$ 2,407	$ 2,373

XML

Provisions for impairment charges - Industry classification (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Financial assets
Provisions for impairment charges and credit commitments	$ 3,053	$ 3,119	$ 3,602	$ 3,332	$ 3,481
Percentage of provision for impairment charges and credit commitments	100.00%	100.00%	100.00%	100.00%	100.00%
Individually assessed
Financial assets
Provisions for impairment charges and credit commitments	$ 422	$ 480	$ 869	$ 669	$ 867
Percentage of provision for impairment charges and credit commitments	13.80%	15.40%	24.10%	20.10%	24.90%
Individually assessed | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 387	$ 433	$ 752	$ 553	$ 691
Percentage of provision for impairment charges and credit commitments	12.60%	13.90%	20.90%	16.60%	19.90%
Individually assessed | New Zealand
Financial assets
Provisions for impairment charges and credit commitments	$ 33	$ 45	$ 99	$ 107	$ 128
Percentage of provision for impairment charges and credit commitments	1.10%	1.40%	2.70%	3.20%	3.60%
Individually assessed | Other Overseas
Financial assets
Provisions for impairment charges and credit commitments	$ 2	$ 2	$ 18	$ 9	$ 48
Percentage of provision for impairment charges and credit commitments	0.10%	0.10%	0.50%	0.30%	1.40%
Individually assessed | Accommodation, cafes and restaurants | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 9	$ 15	$ 39	$ 38	$ 47
Percentage of provision for impairment charges and credit commitments	0.30%	0.50%	1.10%	1.10%	1.40%
Individually assessed | Agriculture, forestry and fishing | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 13	$ 9	$ 21	$ 23	$ 47
Percentage of provision for impairment charges and credit commitments	0.40%	0.30%	0.60%	0.70%	1.40%
Individually assessed | Agriculture, forestry and fishing | New Zealand
Financial assets
Provisions for impairment charges and credit commitments	$ 13	$ 11	$ 11	$ 6	$ 6
Percentage of provision for impairment charges and credit commitments	0.40%	0.40%	0.30%	0.20%	0.20%
Individually assessed | Construction | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 24	$ 20	$ 23	$ 20	$ 61
Percentage of provision for impairment charges and credit commitments	0.80%	0.60%	0.60%	0.60%	1.80%
Individually assessed | Construction | New Zealand
Financial assets
Provisions for impairment charges and credit commitments			$ 1	$ 1	$ 1
Individually assessed | Finance and insurance | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 25	$ 6	$ 15	$ 23	$ 24
Percentage of provision for impairment charges and credit commitments	0.80%	0.20%	0.40%	0.70%	0.70%
Individually assessed | Manufacturing | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 49	$ 40	$ 120	$ 41	$ 36
Percentage of provision for impairment charges and credit commitments	1.60%	1.30%	3.40%	1.20%	1.00%
Individually assessed | Manufacturing | New Zealand
Financial assets
Provisions for impairment charges and credit commitments	$ 6	$ 4	$ 34	$ 33	$ 33
Percentage of provision for impairment charges and credit commitments	0.20%	0.10%	0.90%	1.00%	0.90%
Individually assessed | Mining | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 9	$ 19	$ 41	$ 11	$ 15
Percentage of provision for impairment charges and credit commitments	0.30%	0.60%	1.10%	0.30%	0.40%
Individually assessed | Mining | New Zealand
Financial assets
Provisions for impairment charges and credit commitments			$ 14	$ 13	$ 36
Percentage of provision for impairment charges and credit commitments			0.40%	0.40%	1.00%
Individually assessed | Property | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 47	$ 74	$ 125	$ 127	$ 200
Percentage of provision for impairment charges and credit commitments	1.50%	2.40%	3.50%	3.90%	5.70%
Individually assessed | Property | New Zealand
Financial assets
Provisions for impairment charges and credit commitments	$ 6	$ 20	$ 31	$ 42	$ 38
Percentage of provision for impairment charges and credit commitments	0.20%	0.60%	0.90%	1.30%	1.10%
Individually assessed | Property services and business services | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 35	$ 77	$ 215	$ 97	$ 83
Percentage of provision for impairment charges and credit commitments	1.10%	2.50%	6.00%	2.90%	2.40%
Individually assessed | Property services and business services | New Zealand
Financial assets
Provisions for impairment charges and credit commitments			$ 1	$ 1
Individually assessed | Services | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 27	$ 25	$ 16	$ 20	$ 32
Percentage of provision for impairment charges and credit commitments	0.90%	0.80%	0.40%	0.60%	0.90%
Individually assessed | Services | New Zealand
Financial assets
Provisions for impairment charges and credit commitments	$ 1	$ 2	$ 2	$ 2	$ 1
Percentage of provision for impairment charges and credit commitments	0.10%	0.10%	0.10%	0.10%
Individually assessed | Trade | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 39	$ 37	$ 62	$ 39	$ 70
Percentage of provision for impairment charges and credit commitments	1.30%	1.20%	1.70%	1.20%	2.00%
Individually assessed | Trade | New Zealand
Financial assets
Provisions for impairment charges and credit commitments		$ 1	$ 1	$ 1	$ 2
Percentage of provision for impairment charges and credit commitments					0.10%
Individually assessed | Transport and storage | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 16	$ 14	$ 14	$ 54	$ 12
Percentage of provision for impairment charges and credit commitments	0.50%	0.40%	0.40%	1.60%	0.30%
Individually assessed | Transport and storage | New Zealand
Financial assets
Provisions for impairment charges and credit commitments					$ 1
Individually assessed | Utilities | Australia
Financial assets
Provisions for impairment charges and credit commitments					$ 2
Percentage of provision for impairment charges and credit commitments					0.10%
Individually assessed | Retail lending | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 92	$ 94	$ 57	$ 57	$ 60
Percentage of provision for impairment charges and credit commitments	3.00%	3.00%	1.60%	1.70%	1.70%
Individually assessed | Retail lending | New Zealand
Financial assets
Provisions for impairment charges and credit commitments	$ 7	$ 7	$ 4	$ 8	$ 10
Percentage of provision for impairment charges and credit commitments	0.20%	0.20%	0.10%	0.20%	0.30%
Individually assessed | Other | Australia
Financial assets
Provisions for impairment charges and credit commitments	$ 2	$ 3	$ 4	$ 3	$ 2
Percentage of provision for impairment charges and credit commitments	0.10%	0.10%	0.10%	0.10%	0.10%
Collectively assessed
Financial assets
Provisions for impairment charges and credit commitments	$ 2,631	$ 2,639	$ 2,733	$ 2,663	$ 2,614
Percentage of provision for impairment charges and credit commitments	86.20%	84.60%	75.90%	79.90%	75.10%

XML

Provisions for impairment charges - Write-offs and recoveries (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Financial assets
Write-offs	$ (1,127)	$ (1,656)	$ (1,189)	$ (1,238)	$ (1,408)
Recoveries	179	168	137	131	106
Net write-offs and recoveries	(948)	(1,488)	(1,052)	(1,107)	(1,302)
Australia
Financial assets
Write-offs	(1,058)	(1,602)	(1,119)	(1,110)	(1,209)
Recoveries	155	149	131	113	92
New Zealand
Financial assets
Write-offs	(69)	(53)	(67)	(110)	(168)
Recoveries	24	19	6	18	14
Other Overseas
Financial assets
Write-offs		(1)	(3)	(18)	(31)
Accommodation, cafes and restaurants | Australia
Financial assets
Write-offs	(14)	(38)	(17)	(40)	(26)
Recoveries	1	3
Accommodation, cafes and restaurants | New Zealand
Financial assets
Write-offs					(2)
Agriculture, forestry and fishing | Australia
Financial assets
Write-offs	(12)	(10)	(12)	(36)	(60)
Agriculture, forestry and fishing | New Zealand
Financial assets
Write-offs			(1)	(3)	(10)
Construction | Australia
Financial assets
Write-offs	(23)	(30)	(20)	(40)	(37)
Recoveries	1	2	1	4	2
Construction | New Zealand
Financial assets
Write-offs	(1)	(1)	(1)		(5)
Finance and insurance | Australia
Financial assets
Write-offs	(4)	(6)	(13)	(12)	(10)
Recoveries	1	1	34	8	8
Finance and insurance | New Zealand
Financial assets
Write-offs					(10)
Manufacturing | Australia
Financial assets
Write-offs	(12)	(105)	(21)	(20)	(85)
Recoveries		2	1	3	3
Manufacturing | New Zealand
Financial assets
Write-offs				(1)	(1)
Mining | Australia
Financial assets
Write-offs	(14)	(46)	(18)	(17)	(4)
Recoveries	1	1
Mining | New Zealand
Financial assets
Write-offs				(28)	(10)
Property | Australia
Financial assets
Write-offs	(39)	(76)	(44)	(104)	(182)
Recoveries	7	10	3	15	12
Property | New Zealand
Financial assets
Write-offs	(13)	(2)	(10)	(18)	(41)
Property services and business services | Australia
Financial assets
Write-offs	(44)	(203)	(43)	(70)	(50)
Recoveries	1	3	2	2
Property services and business services | New Zealand
Financial assets
Write-offs			(2)
Services | Australia
Financial assets
Write-offs	(24)	(97)	(36)	(18)	(22)
Recoveries	1		2	1
Services | New Zealand
Financial assets
Write-offs	(1)			(1)	(37)
Trade | Australia
Financial assets
Write-offs	(56)	(59)	(30)	(56)	(70)
Recoveries	2	3	1	1	1
Trade | New Zealand
Financial assets
Write-offs	(1)	(1)	(1)	(4)	(3)
Transport and storage | Australia
Financial assets
Write-offs	(17)	(17)	(48)	(24)	(43)
Recoveries	1	1	1
Utilities | Australia
Financial assets
Write-offs	(1)		(1)	(2)	(3)
Recoveries					2
Retail lending | Australia
Financial assets
Write-offs	(793)	(898)	(803)	(658)	(603)
Recoveries	139	118	84	78	62
Retail lending | New Zealand
Financial assets
Write-offs	(53)	(49)	(51)	(55)	(49)
Other | Australia
Financial assets
Write-offs	(5)	(17)	(13)	(13)	(14)
Recoveries		5	2	1	2
Other | New Zealand
Financial assets
Write-offs			(1)
Individually assessed
Financial assets
Write-offs	(269)	(688)	(287)	(445)	(706)
Collectively assessed
Financial assets
Write-offs	$ (858)	$ (968)	$ (902)	$ (793)	$ (702)

XML

Life insurance assets and life insurance liabilities - Assets (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Disclosure of life insurance assets
Life insurance assets	$ 9,450	$ 10,643
Parent Entity
Disclosure of life insurance assets
Life insurance assets	0	0
Equity instruments
Disclosure of life insurance assets
Life insurance assets	1,223	2,515
Debt instruments
Disclosure of life insurance assets
Life insurance assets	1,622	2,025
Unit trusts
Disclosure of life insurance assets
Life insurance assets	6,545	6,093
Loans and other assets
Disclosure of life insurance assets
Life insurance assets	$ 60	$ 10

XML

Life insurance assets and life insurance liabilities - Liabilities (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Reconciliation of movements in policy liabilities
Liabilities under insurance contracts and reinsurance contracts issued at beginning of period	$ 9,019	$ 12,361
Movements in policy liabilities reflected in the income statement	698	582
Contract contributions recognised in policy liabilities	738	790
Contract withdrawals recognised in policy liabilities	(1,115)	(1,214)
Contract fees, expenses and tax recoveries	(104)	(100)
Change in external unit holders of managed investment schemes	(1,639)	(3,400)
Liabilities under insurance contracts and reinsurance contracts issued at end of period	7,597	9,019
Parent Entity
Reconciliation of movements in policy liabilities
Liabilities under insurance contracts and reinsurance contracts issued at beginning of period	0
Liabilities under insurance contracts and reinsurance contracts issued at end of period	0	0
Life Investment Contracts
Reconciliation of movements in policy liabilities
Liabilities under insurance contracts and reinsurance contracts issued at beginning of period	9,854	13,234
Movements in policy liabilities reflected in the income statement	704	544
Contract contributions recognised in policy liabilities	738	790
Contract withdrawals recognised in policy liabilities	(1,115)	(1,214)
Contract fees, expenses and tax recoveries	(104)	(100)
Change in external unit holders of managed investment schemes	(1,639)	(3,400)
Liabilities under insurance contracts and reinsurance contracts issued at end of period	8,438	9,854
Life insurance
Reconciliation of movements in policy liabilities
Liabilities under insurance contracts and reinsurance contracts issued at beginning of period	(835)	(873)
Movements in policy liabilities reflected in the income statement	(6)	38
Liabilities under insurance contracts and reinsurance contracts issued at end of period	$ (841)	$ (835)

XML

Payables due to other financial institutions (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Payables due to other financial institutions
Cash collateral	$ 2,171	$ 2,429
Liabilities due to central banks	3,397	3,108
Interbank borrowing	6,564	6,953
Security repurchase agreements	6,005	9,417
Total payables due to other financial institutions	18,137	21,907
Payables due to other financial institutions
Payables due to other financial institutions
Carrying value of securities pledged under repurchase agreements	8,884	15,192
Parent Entity
Payables due to other financial institutions
Cash collateral	1,735	2,304
Liabilities due to central banks	3,397	3,108
Interbank borrowing	6,545	6,946
Security repurchase agreements	6,005	9,417
Total payables due to other financial institutions	17,682	21,775
Parent Entity | Payables due to other financial institutions
Payables due to other financial institutions
Carrying value of securities pledged under repurchase agreements	$ 8,884	$ 15,192

XML

Deposits and other borrowings - Total deposits and other borrowings (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Deposits and other borrowings
Total deposits and other borrowings	$ 559,285	$ 533,591
Contractual outstanding amount payable at maturity	41,330	46,713
Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	500,468	477,693
Contractual outstanding amount payable at maturity	40,214	46,168
At fair value
Deposits and other borrowings
Total deposits and other borrowings	41,178	46,569
At fair value | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	40,062	46,023
At amortised cost
Deposits and other borrowings
Total deposits and other borrowings	518,107	487,022
At amortised cost | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	460,406	431,670
Australia
Deposits and other borrowings
Total deposits and other borrowings	475,413	458,356
Australia | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	475,413	457,774
Australia | Certificates of deposit
Deposits and other borrowings
Total deposits and other borrowings	28,746	37,515
Australia | Certificates of deposit | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	28,746	37,515
Australia | Non-interest bearing, repayable at call
Deposits and other borrowings
Total deposits and other borrowings	41,783	40,324
Australia | Non-interest bearing, repayable at call | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	41,783	40,324
Australia | Other interest bearing at call
Deposits and other borrowings
Total deposits and other borrowings	233,052	224,268
Australia | Other interest bearing at call | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	233,052	223,686
Australia | Other interest bearing term
Deposits and other borrowings
Total deposits and other borrowings	171,832	156,249
Australia | Other interest bearing term | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	171,832	156,249
New Zealand
Deposits and other borrowings
Total deposits and other borrowings	57,787	54,292
New Zealand | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	3
New Zealand | Certificates of deposit
Deposits and other borrowings
Total deposits and other borrowings	1,116	546
New Zealand | Non-interest bearing, repayable at call
Deposits and other borrowings
Total deposits and other borrowings	5,406	4,853
New Zealand | Other interest bearing at call
Deposits and other borrowings
Total deposits and other borrowings	21,368	21,273
New Zealand | Other interest bearing term
Deposits and other borrowings
Total deposits and other borrowings	29,897	27,620
New Zealand | Other interest bearing term | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	3
Other Overseas
Deposits and other borrowings
Total deposits and other borrowings	26,085	20,943
Other Overseas | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	25,052	19,919
Other Overseas | Certificates of deposit
Deposits and other borrowings
Total deposits and other borrowings	11,672	8,860
Other Overseas | Certificates of deposit | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	11,672	8,860
Other Overseas | Non-interest bearing, repayable at call
Deposits and other borrowings
Total deposits and other borrowings	830	810
Other Overseas | Non-interest bearing, repayable at call | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	352	322
Other Overseas | Other interest bearing at call
Deposits and other borrowings
Total deposits and other borrowings	1,638	1,505
Other Overseas | Other interest bearing at call | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	1,249	1,150
Other Overseas | Other interest bearing term
Deposits and other borrowings
Total deposits and other borrowings	11,945	9,768
Other Overseas | Other interest bearing term | Parent Entity
Deposits and other borrowings
Total deposits and other borrowings	$ 11,779	$ 9,587

XML

Deposits and other borrowings - Average balances and average rates for major categories of deposits (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Australia
Deposits and other borrowings
Average Balance	$ 463,162	$ 448,941	$ 411,847
Overseas
Deposits and other borrowings
Average Balance	83,988	80,654	82,638
Non-interest bearing, repayable at call | Australia
Deposits and other borrowings
Average Balance	41,156	39,355	35,732
Non-interest bearing, repayable at call | Overseas
Deposits and other borrowings
Average Balance	6,021	5,527	5,051
Certificates of deposit | Australia
Deposits and other borrowings
Average Balance	$ 31,424	$ 33,350	$ 31,165
Average Rate	2.00%	2.00%	2.40%
Certificates of deposit | Overseas
Deposits and other borrowings
Average Balance	$ 13,008	$ 13,151	$ 16,938
Average Rate	1.90%	1.40%	0.90%
Other interest bearing at call | Australia
Deposits and other borrowings
Average Balance	$ 228,328	$ 222,122	$ 208,333
Average Rate	1.20%	1.10%	1.50%
Other interest bearing at call | Overseas
Deposits and other borrowings
Average Balance	$ 23,017	$ 24,163	$ 24,686
Average Rate	1.20%	1.30%	1.90%
Other interest bearing term | Australia
Deposits and other borrowings
Average Balance	$ 162,254	$ 154,114	$ 136,617
Average Rate	2.50%	2.70%	2.90%
Other interest bearing term | Overseas
Deposits and other borrowings
Average Balance	$ 41,942	$ 37,813	$ 35,963
Average Rate	2.80%	2.70%	2.70%

XML

Deposits and other borrowings - Certificates of deposit and term deposits (Details) - Australia $ in Millions	Sep. 30, 2018 AUD ($)
Deposits and other borrowings
Certificates of deposit greater than US$100,000	$ 28,746
Term deposits greater than US$100,000	150,906
Less Than 3 Months
Deposits and other borrowings
Certificates of deposit greater than US$100,000	14,181
Term deposits greater than US$100,000	84,292
Between 3 and 6 Months
Deposits and other borrowings
Certificates of deposit greater than US$100,000	13,176
Term deposits greater than US$100,000	30,627
Between 6 Months and 1 Year
Deposits and other borrowings
Certificates of deposit greater than US$100,000	1,285
Term deposits greater than US$100,000	27,139
Over 1 Year
Deposits and other borrowings
Certificates of deposit greater than US$100,000	104
Term deposits greater than US$100,000	$ 8,848

XML

Other financial liabilities at fair value through income statement (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Other financial liabilities at fair value through income statement
Security repurchase agreements	$ 3,517	$ 3,543
Securities sold short	780	513
Total other financial liabilities at fair value through income statement	4,297	4,056
Other financial liabilities at fair value through income statement
Other financial liabilities at fair value through income statement
Carrying value of securities pledged under repurchase agreements	3,608	3,554
Parent Entity
Other financial liabilities at fair value through income statement
Security repurchase agreements	3,517	3,525
Securities sold short	780	513
Total other financial liabilities at fair value through income statement	4,297	4,038
Parent Entity | Other financial liabilities at fair value through income statement
Other financial liabilities at fair value through income statement
Carrying value of securities pledged under repurchase agreements	$ 3,608	$ 3,536

XML

Debt issues - Balances (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Debt issues
Short-term debt	$ 26,266	$ 31,912
Long-term debt	146,330	136,444
Total debt issues	172,596	168,356
Parent Entity
Debt issues
Short-term debt	26,266	30,008
Long-term debt	126,022	114,108
Total debt issues	152,288	144,116
At fair value
Debt issues
Total debt issues	3,355	4,673
At fair value | Parent Entity
Debt issues
Total debt issues	3,223	2,940
At amortised cost
Debt issues
Total debt issues	169,241	163,683
At amortised cost | Parent Entity
Debt issues
Total debt issues	149,065	141,176
Own issuances
Debt issues
Short-term debt	26,266	31,514
Own issuances | Parent Entity
Debt issues
Short-term debt	26,266	30,002
Customer conduits
Debt issues
Short-term debt		392
Acceptances
Debt issues
Short-term debt		6
Acceptances | Parent Entity
Debt issues
Short-term debt		6
Covered bonds
Debt issues
Long-term debt	35,434	34,516
Covered bonds | Parent Entity
Debt issues
Long-term debt	30,268	29,698
Senior
Debt issues
Long-term debt	103,159	93,476
Senior | Parent Entity
Debt issues
Long-term debt	95,754	84,410
Securitisation
Debt issues
Long-term debt	7,588	8,209
Structured notes
Debt issues
Long-term debt	$ 149	$ 243

XML

Debt issues - Movement Reconciliation (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Movement Reconciliation
Balance as at 1 October 2017	$ 168,356
Issuances	59,456
Maturities, repayments, buy backs and reductions	(64,698)
Total cash movements	(5,242)
Foreign exchange translation impact	11,022
Fair value adjustments	(244)
Fair value hedge accounting adjustments	(1,313)
Other (amortisation of bond issue costs, etc.)	17
Total non-cash movements	9,482
Balance as at 30 September 2018	172,596
Contractual outstanding amount payable at maturity	3,475	$ 4,604
Decrease in fair value of debt issues attributable to changes in entity's own credit risk	45	2
Parent Entity
Movement Reconciliation
Balance as at 1 October 2017	144,116
Issuances	57,440
Maturities, repayments, buy backs and reductions	(58,005)
Total cash movements	(565)
Foreign exchange translation impact	10,252
Fair value adjustments	(240)
Fair value hedge accounting adjustments	(1,288)
Other (amortisation of bond issue costs, etc.)	13
Total non-cash movements	8,737
Balance as at 30 September 2018	152,288
Contractual outstanding amount payable at maturity	3,344	2,875
Decrease in fair value of debt issues attributable to changes in entity's own credit risk	$ 45	$ 2

XML

Debt issues - By currency (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Debt issues
Short-term debt	$ 26,266	$ 31,912
Long-term debt	146,330	136,444
AUD
Debt issues
Long-term debt	37,571	35,780
CHF
Debt issues
Long-term debt	2,953	1,903
EUR
Debt issues
Long-term debt	31,734	25,049
GBP
Debt issues
Long-term debt	5,290	4,922
JPY
Debt issues
Long-term debt	3,226	2,137
NZD
Debt issues
Long-term debt	2,294	3,416
USD
Debt issues
Long-term debt	60,336	60,971
Other currencies
Debt issues
Long-term debt	2,926	2,266
Own issuances
Debt issues
Short-term debt	26,266	31,514
US commercial paper
Debt issues
Short-term debt	18,675	26,167
Senior debt | AUD
Debt issues
Short-term debt	550	1,900
Senior debt | GBP
Debt issues
Short-term debt	6,604	2,916
Senior debt | Other currencies
Debt issues
Short-term debt	$ 437	531
Asset backed commercial paper
Debt issues
Short-term debt		392
Asset backed commercial paper | AUD
Debt issues
Short-term debt		392
Acceptances
Debt issues
Short-term debt		$ 6

XML

Debt issues - US commercial paper (Details) - US commercial paper - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Debt issues
Maximum amount outstanding at any month end, short-term borrowings	$ 28,331	$ 27,456	$ 36,478
Approximate average amount outstanding, short-term borrowings	$ 23,315	$ 23,025	$ 26,351
Approximate weighted average interest rate on average amount outstanding, short-term borrowings	2.00%	1.30%	0.70%
Approximate weighted average interest rate on amount outstanding as at end of the year, short-term borrowings	2.50%	1.20%	0.90%

XML

Loan Capital - Summary (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Disclosure of detailed information about borrowings [line items]
Loan capital	$ 17,265	$ 17,666
Additional Tier 1 (AT1) loan capital
Disclosure of detailed information about borrowings [line items]
Loan capital	8,955	8,428
Convertible preference shares
Disclosure of detailed information about borrowings [line items]
Loan capital		1,188
Westpac Capital Notes
Disclosure of detailed information about borrowings [line items]
Loan capital	7,370	5,684
USD AT1 securities
Disclosure of detailed information about borrowings [line items]
Loan capital	1,585	1,556
Tier 2 loan capital
Disclosure of detailed information about borrowings [line items]
Loan capital	8,310	9,238
Subordinated notes
Disclosure of detailed information about borrowings [line items]
Loan capital	7,822	8,789
Subordinated perpetual notes
Disclosure of detailed information about borrowings [line items]
Loan capital	488	449
Parent Entity
Disclosure of detailed information about borrowings [line items]
Loan capital	17,265	17,666
Parent Entity | Additional Tier 1 (AT1) loan capital
Disclosure of detailed information about borrowings [line items]
Loan capital	8,955	8,428
Parent Entity | Convertible preference shares
Disclosure of detailed information about borrowings [line items]
Loan capital		1,188
Parent Entity | Westpac Capital Notes
Disclosure of detailed information about borrowings [line items]
Loan capital	7,370	5,684
Parent Entity | USD AT1 securities
Disclosure of detailed information about borrowings [line items]
Loan capital	1,585	1,556
Parent Entity | Tier 2 loan capital
Disclosure of detailed information about borrowings [line items]
Loan capital	8,310	9,238
Parent Entity | Subordinated notes
Disclosure of detailed information about borrowings [line items]
Loan capital	7,822	8,789
Parent Entity | Subordinated perpetual notes
Disclosure of detailed information about borrowings [line items]
Loan capital	$ 488	$ 449

XML

Loan Capital - Movement Reconciliation (Details) $ in Millions	12 Months Ended
	Sep. 30, 2018 AUD ($)
Loan capital
Balance at beginning	$ 17,666
Issuances	2,342
Maturities, repayments, buy backs and reductions	(2,387)
Total cash movements	(45)
Foreign exchange translation impact	449
Fair value hedge accounting adjustments	(257)
Conversion of Convertible Preference Shares to ordinary shares	(566)
Other (amortisation of bond issue costs, etc.)	18
Total non-cash movements	(356)
Balance at ending	17,265
Parent Entity
Loan capital
Balance at beginning	17,666
Issuances	2,342
Maturities, repayments, buy backs and reductions	(2,387)
Total cash movements	(45)
Foreign exchange translation impact	449
Fair value hedge accounting adjustments	(257)
Conversion of Convertible Preference Shares to ordinary shares	(566)
Other (amortisation of bond issue costs, etc.)	18
Total non-cash movements	(356)
Balance at ending	$ 17,265

XML

Loan Capital - Additional Tier 1 loan capital (Details) $ / shares in Units, $ in Millions, $ in Millions	Apr. 03, 2018 AUD ($) $ / shares shares	Mar. 13, 2018 AUD ($) $ / shares	Sep. 30, 2018 USD ($)	Sep. 30, 2018 AUD ($)	Sep. 30, 2017 AUD ($)
Disclosure of detailed information about borrowings [line items]
Loan capital				$ 17,265	$ 17,666
Convertible preference shares
Disclosure of detailed information about borrowings [line items]
Loan capital					1,188
$1,189 million CPS
Disclosure of detailed information about borrowings [line items]
Loan capital					1,188
Value of Westpac CPS transferred	$ 566	$ 623
Value per share of Westpac CPS transferred to nominated party | $ / shares	$ 100	$ 100
Shares issued on conversion of Westpac CPS | shares	19,189,765
$1,189 million CPS | 180 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			3.25%	3.25%
Westpac Capital Notes
Disclosure of detailed information about borrowings [line items]
Loan capital				$ 7,370	5,684
$1,384 million WCN
Disclosure of detailed information about borrowings [line items]
Principal amount				1,384
Loan capital				$ 1,382	1,379
$1,384 million WCN | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			3.20%	3.20%
$1,311 million WCN2
Disclosure of detailed information about borrowings [line items]
Principal amount				$ 1,311
Loan capital				$ 1,305	1,304
$1,311 million WCN2 | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			3.05%	3.05%
$1,324 million WCN3
Disclosure of detailed information about borrowings [line items]
Principal amount				$ 1,324
Loan capital				$ 1,316	1,313
$1,324 million WCN3 | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			4.00%	4.00%
$1,702 million WCN4
Disclosure of detailed information about borrowings [line items]
Principal amount				$ 1,702
Loan capital				$ 1,691	1,688
$1,702 million WCN4 | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			4.90%	4.90%
$1,690 million WCN5
Disclosure of detailed information about borrowings [line items]
Principal amount				$ 1,690
Loan capital				$ 1,676
$1,690 million WCN5 | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			3.20%	3.20%
USD AT1 securities
Disclosure of detailed information about borrowings [line items]
Loan capital				$ 1,585	1,556
US$1,250 million securities
Disclosure of detailed information about borrowings [line items]
Principal amount			$ 1,250
Loan capital				$ 1,585	$ 1,556
US$1,250 million securities | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)			5.00%	5.00%
US$1,250 million securities | 5-year USD mid-market swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)			2.888%	2.888%

XML

Loan Capital - Additional Tier 1 loan capital - Other (Details) - Additional Tier 1 (AT1) loan capital	12 Months Ended
	Sep. 30, 2018 D
Disclosure of detailed information about borrowings [line items]
Number of business days for payment of dividend, distribution or interest	20
Number of business days prior to scheduled conversion date to determine share price	20
Discount rate on share price upon conversion	1.00%
Common Equity Tier 1 Capital ratio, maximum	5.125%
Number of business days prior to capital trigger event date or non-viability trigger event date to determine share price for conversion	5
Discount rate on share price which determined based on capital trigger event date or non-viability trigger event date	1.00%
Percentage of share price to determine maximum conversion number	20.00%

XML

Loan Capital - Tier 2 loan capital (Details) ¥ in Millions, ¥ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	Sep. 30, 2018 SGD ($)	Sep. 30, 2018 NZD ($)	Sep. 30, 2018 JPY (¥)	Sep. 30, 2018 HKD ($)	Sep. 30, 2018 CNY (¥)	Sep. 30, 2018 USD ($)	Sep. 30, 2018 AUD ($)	Sep. 30, 2017 AUD ($)
Disclosure of detailed information about borrowings [line items]
Loan capital							$ 17,265	$ 17,666
Subordinated notes
Disclosure of detailed information about borrowings [line items]
Loan capital							$ 7,822	8,789
US$350 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount						$ 350
Loan capital								454
US$350 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.625%	4.625%	4.625%	4.625%	4.625%	4.625%	4.625%
US$800 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount						$ 800
Loan capital								1,018
US$800 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	3.625%	3.625%	3.625%	3.625%	3.625%	3.625%	3.625%
US$800 million subordinated notes | 5-year US Treasury rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	2.90%	2.90%	2.90%	2.90%	2.90%	2.90%	2.90%
A$925 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 925
Loan capital								923
A$925 million subordinated notes | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	2.30%	2.30%	2.30%	2.30%	2.30%	2.30%	2.30%
A$1,000 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 1,000
Loan capital							$ 999	991
A$1,000 million subordinated notes | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	2.05%	2.05%	2.05%	2.05%	2.05%	2.05%	2.05%
CNY1,250 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥					¥ 1,250
Loan capital							$ 252	239
CNY1,250 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.85%	4.85%	4.85%	4.85%	4.85%	4.85%	4.85%
CNY1,250 million subordinated notes | One year CNH HIBOR reference rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	0.8345%	0.8345%	0.8345%	0.8345%	0.8345%	0.8345%	0.8345%
A$350 million 4.5% subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 350
Loan capital							$ 347	350
A$350 million 4.5% subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%
A$350 million 4.5% subordinated notes | Five year AUD semi-quarterly mid-swap reference rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.95%	1.95%	1.95%	1.95%	1.95%	1.95%	1.95%
S$325 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount	$ 325
Loan capital							$ 330	312
S$325 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%	4.00%
S$325 million subordinated notes | Five year SGD swap offer rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.54%	1.54%	1.54%	1.54%	1.54%	1.54%	1.54%
A$175 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 175
Loan capital							$ 171	171
A$175 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.80%	4.80%	4.80%	4.80%	4.80%	4.80%	4.80%
A$175 million subordinated notes | Five year AUD semi-quarterly mid-swap reference rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	2.65%	2.65%	2.65%	2.65%	2.65%	2.65%	2.65%
US$100 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount						$ 100
Loan capital							$ 114	117
US$100 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
A$700 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 700
Loan capital							$ 700	700
A$700 million subordinated notes | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	3.10%	3.10%	3.10%	3.10%	3.10%	3.10%	3.10%
JPY20,000 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥			¥ 20,000
Loan capital							$ 242	225
JPY20,000 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	1.16%	1.16%	1.16%	1.16%	1.16%	1.16%	1.16%
JPY10,200 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥			¥ 10,200
Loan capital							$ 123	115
JPY10,200 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	1.16%	1.16%	1.16%	1.16%	1.16%	1.16%	1.16%
JPY10,000 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥			¥ 10,000
Loan capital							$ 120	112
JPY10,000 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	0.76%	0.76%	0.76%	0.76%	0.76%	0.76%	0.76%
NZ$400 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount		$ 400
Loan capital							$ 358	357
NZ$400 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.695%	4.695%	4.695%	4.695%	4.695%	4.695%	4.695%
NZ$400 million subordinated notes | New Zealand 5 year swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	2.60%	2.60%	2.60%	2.60%	2.60%	2.60%	2.60%
JPY8,000 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥			¥ 8,000
Loan capital							$ 97	90
JPY8,000 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	0.9225%	0.9225%	0.9225%	0.9225%	0.9225%	0.9225%	0.9225%
JPY8,000 million subordinated notes | Five year JPY mid-swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.0005%	1.0005%	1.0005%	1.0005%	1.0005%	1.0005%	1.0005%
US$1,500 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount						$ 1,500
Loan capital							$ 1,922	1,882
US$1,500 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.322%	4.322%	4.322%	4.322%	4.322%	4.322%	4.322%
US$1,500 million subordinated notes | 5-year USD mid-market swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	2.236%	2.236%	2.236%	2.236%	2.236%	2.236%	2.236%
JPY12,000 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥			¥ 12,000
Loan capital							$ 146	136
JPY12,000 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	0.87%	0.87%	0.87%	0.87%	0.87%	0.87%	0.87%
JPY12,000 million subordinated notes | Five year JPY mid-swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	0.78%	0.78%	0.78%	0.78%	0.78%	0.78%	0.78%
JPY13,500 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount | ¥			¥ 13,500
Loan capital							$ 165	152
JPY13,500 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	0.868%	0.868%	0.868%	0.868%	0.868%	0.868%	0.868%
JPY13,500 million subordinated notes | Five year JPY mid-swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	0.778%	0.778%	0.778%	0.778%	0.778%	0.778%	0.778%
HKD600 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount				$ 600
Loan capital							$ 102	98
HKD600 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	3.15%	3.15%	3.15%	3.15%	3.15%	3.15%	3.15%
HKD600 million subordinated notes | Five year HKD mid-swap rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.34%	1.34%	1.34%	1.34%	1.34%	1.34%	1.34%
A$350 million 4.334% subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 350
Loan capital							$ 347	$ 347
A$350 million 4.334% subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	4.334%	4.334%	4.334%	4.334%	4.334%	4.334%	4.334%
A$350 million 4.334% subordinated notes | Five year AUD semi-quarterly mid-swap reference rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.83%	1.83%	1.83%	1.83%	1.83%	1.83%	1.83%
A$185 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 185
Loan capital							$ 185
A$185 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
A$250 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 250
Loan capital							$ 250
A$250 million subordinated notes | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.40%	1.40%	1.40%	1.40%	1.40%	1.40%	1.40%
A$130 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 130
Loan capital							$ 130
A$130 million subordinated notes | Fixed interest rate
Disclosure of detailed information about borrowings [line items]
Interest rate (as a percent)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
A$725 million subordinated notes
Disclosure of detailed information about borrowings [line items]
Principal amount							$ 725
Loan capital							$ 722
A$725 million subordinated notes | 90 day bank bill rate
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	1.80%	1.80%	1.80%	1.80%	1.80%	1.80%	1.80%

XML

Loan Capital - Tier 2 loan capital - Other (Details) - Subordinated notes	12 Months Ended
	Sep. 30, 2018 D
Disclosure of detailed information about borrowings [line items]
Percentage of share price to determine maximum conversion number	20.00%
Number of business days for immediate and irrevocable termination of rights after non-viability trigger event if conversion not occur	5

XML

Loan Capital - Subordinated perpetual notes (Details) - Subordinated perpetual notes - 6 month US$ LIBOR	12 Months Ended
	Sep. 30, 2018
Disclosure of detailed information about borrowings [line items]
Interest rate adjustments (as a percent)	0.15%
Period prior to payment of dividend on share for payment of interest	12 months

XML

Derivative financial instruments - Types of hedges (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Fair-value hedges
Financial instruments
Change in fair value hedging instruments	$ (1,203)	$ (328)
Change in fair value hedge items attributed to hedged risk	1,192	292
Ineffectiveness in interest income	(11)	(36)
Fair-value hedges | Parent Entity
Financial instruments
Change in fair value hedging instruments	(1,208)	(337)
Change in fair value hedge items attributed to hedged risk	1,197	306
Ineffectiveness in interest income	(11)	(31)
Cash-flow hedges
Financial instruments
Cash flow hedge ineffectiveness	(7)	14
Cash-flow hedges | Parent Entity
Financial instruments
Cash flow hedge ineffectiveness	$ (11)	$ 18
Cash-flow hedges | Less than or Up to 1 Month
Financial instruments
Cash inflows	0.30%	3.20%
Cash outflows	0.50%	3.70%
Cash-flow hedges | Over 1 Month to 3 Months
Financial instruments
Cash inflows	2.10%	3.60%
Cash outflows	1.80%	3.60%
Cash-flow hedges | Over 3 Months to 1 Year
Financial instruments
Cash inflows	21.80%	15.60%
Cash outflows	22.40%	15.30%
Cash-flow hedges | 1 Year to 2 Years
Financial instruments
Cash inflows	23.80%	21.60%
Cash outflows	23.00%	20.60%
Cash-flow hedges | 2 Years to 3 Years
Financial instruments
Cash inflows	18.90%	17.50%
Cash outflows	19.50%	17.10%
Cash-flow hedges | 3 Years to 4 Years
Financial instruments
Cash inflows	19.10%	14.60%
Cash outflows	18.00%	15.40%
Cash-flow hedges | 4 Years to 5 Years
Financial instruments
Cash inflows	4.70%	14.70%
Cash outflows	4.90%	14.40%
Cash-flow hedges | Over 5 Years
Financial instruments
Cash inflows	9.30%	9.20%
Cash outflows	9.90%	9.90%
Net Investment Hedging
Financial instruments
Ineffectives of net investment in foreign operations	$ 0	$ 0

XML

Derivative financial instruments - Notional amount and fair value of derivative instruments held for trading and designated in hedge relationships (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial instruments
Fair Value, Trading, Assets	$ 21,351	$ 21,812
Fair Value, Trading, Liabilities	(22,869)	(22,757)
Fair Value, Total, Assets	24,101	24,033
Fair Value, Total, Liabilities	(24,407)	(25,375)
Parent Entity
Financial instruments
Fair Value, Trading, Assets	21,381	21,834
Fair Value, Trading, Liabilities	(23,039)	(22,791)
Fair Value, Total, Assets	23,562	23,823
Fair Value, Total, Liabilities	(24,229)	(24,911)
Derivatives - net
Financial instruments
Notional Amount	4,550,789	4,218,671
Derivatives - net | Parent Entity
Financial instruments
Notional Amount	4,539,747	4,199,295
Gross Derivatives
Financial instruments
Notional Amount	4,550,789	4,218,671
Fair Value, Trading, Assets	29,573	29,144
Fair Value, Trading, Liabilities	(31,781)	(29,935)
Fair Value, Total, Assets	32,828	31,686
Fair Value, Total, Liabilities	(37,296)	(34,642)
Gross Derivatives | Parent Entity
Financial instruments
Notional Amount	4,539,747	4,199,295
Fair Value, Trading, Assets	29,603	29,172
Fair Value, Trading, Liabilities	(31,951)	(30,121)
Fair Value, Total, Assets	32,289	31,476
Fair Value, Total, Liabilities	(37,118)	(34,178)
Interest rate contracts
Financial instruments
Notional Amount	3,260,401	3,072,869
Fair Value, Trading, Assets	15,802	16,615
Fair Value, Trading, Liabilities	(15,759)	(15,564)
Fair Value, Total, Assets	16,692	17,559
Fair Value, Total, Liabilities	(21,060)	(19,512)
Interest rate contracts | Parent Entity
Financial instruments
Notional Amount	3,256,410	3,063,888
Fair Value, Trading, Assets	15,835	16,649
Fair Value, Trading, Liabilities	(15,930)	(15,752)
Fair Value, Total, Assets	16,676	17,540
Fair Value, Total, Liabilities	(20,942)	(19,348)
Interest rate contracts - Futures contracts
Financial instruments
Notional Amount	189,853	132,785
Interest rate contracts - Futures contracts | Parent Entity
Financial instruments
Notional Amount	189,853	132,785
Interest rate contracts - Forward agreements
Financial instruments
Notional Amount	168,132	215,934
Fair Value, Trading, Assets	11	21
Fair Value, Trading, Liabilities	(12)	(20)
Fair Value, Total, Assets	11	21
Fair Value, Total, Liabilities	(12)	(20)
Interest rate contracts - Forward agreements | Parent Entity
Financial instruments
Notional Amount	168,132	215,934
Fair Value, Trading, Assets	11	21
Fair Value, Trading, Liabilities	(12)	(20)
Fair Value, Total, Assets	11	21
Fair Value, Total, Liabilities	(12)	(20)
Interest rate contracts - Swap agreements
Financial instruments
Notional Amount	2,863,349	2,655,134
Fair Value, Trading, Assets	15,626	16,438
Fair Value, Trading, Liabilities	(15,580)	(15,361)
Fair Value, Total, Assets	16,516	17,382
Fair Value, Total, Liabilities	(20,881)	(19,309)
Interest rate contracts - Swap agreements | Parent Entity
Financial instruments
Notional Amount	2,859,358	2,646,153
Fair Value, Trading, Assets	15,659	16,472
Fair Value, Trading, Liabilities	(15,751)	(15,549)
Fair Value, Total, Assets	16,500	17,363
Fair Value, Total, Liabilities	(20,763)	(19,145)
Interest rate contracts - Options
Financial instruments
Notional Amount	39,067	69,016
Fair Value, Trading, Assets	165	156
Fair Value, Trading, Liabilities	(167)	(183)
Fair Value, Total, Assets	165	156
Fair Value, Total, Liabilities	(167)	(183)
Interest rate contracts - Options | Parent Entity
Financial instruments
Notional Amount	39,067	69,016
Fair Value, Trading, Assets	165	156
Fair Value, Trading, Liabilities	(167)	(183)
Fair Value, Total, Assets	165	156
Fair Value, Total, Liabilities	(167)	(183)
Foreign exchange contracts
Financial instruments
Notional Amount	1,270,021	1,126,921
Fair Value, Trading, Assets	13,422	12,177
Fair Value, Trading, Liabilities	(15,621)	(14,058)
Fair Value, Total, Assets	15,787	13,775
Fair Value, Total, Liabilities	(15,835)	(14,817)
Foreign exchange contracts | Parent Entity
Financial instruments
Notional Amount	1,262,970	1,116,526
Fair Value, Trading, Assets	13,419	12,171
Fair Value, Trading, Liabilities	(15,620)	(14,056)
Fair Value, Total, Assets	15,264	13,584
Fair Value, Total, Liabilities	(15,775)	(14,517)
Foreign exchange contracts - Spot and forward contracts
Financial instruments
Notional Amount	784,791	668,896
Fair Value, Trading, Assets	6,741	5,781
Fair Value, Trading, Liabilities	(6,418)	(6,027)
Fair Value, Total, Assets	6,741	5,800
Fair Value, Total, Liabilities	(6,450)	(6,046)
Foreign exchange contracts - Spot and forward contracts | Parent Entity
Financial instruments
Notional Amount	784,438	668,322
Fair Value, Trading, Assets	6,737	5,774
Fair Value, Trading, Liabilities	(6,417)	(6,024)
Fair Value, Total, Assets	6,737	5,793
Fair Value, Total, Liabilities	(6,448)	(6,040)
Foreign exchange contracts - Cross currency swap agreements
Financial instruments
Notional Amount	462,949	444,421
Fair Value, Trading, Assets	6,561	6,272
Fair Value, Trading, Liabilities	(9,019)	(7,893)
Fair Value, Total, Assets	8,926	7,851
Fair Value, Total, Liabilities	(9,201)	(8,633)
Foreign exchange contracts - Cross currency swap agreements | Parent Entity
Financial instruments
Notional Amount	456,251	434,600
Fair Value, Trading, Assets	6,562	6,273
Fair Value, Trading, Liabilities	(9,019)	(7,894)
Fair Value, Total, Assets	8,407	7,667
Fair Value, Total, Liabilities	(9,143)	(8,339)
Foreign exchange contracts - Options
Financial instruments
Notional Amount	22,281	13,604
Fair Value, Trading, Assets	120	124
Fair Value, Trading, Liabilities	(184)	(138)
Fair Value, Total, Assets	120	124
Fair Value, Total, Liabilities	(184)	(138)
Foreign exchange contracts - Options | Parent Entity
Financial instruments
Notional Amount	22,281	13,604
Fair Value, Trading, Assets	120	124
Fair Value, Trading, Liabilities	(184)	(138)
Fair Value, Total, Assets	120	124
Fair Value, Total, Liabilities	(184)	(138)
Commodity contracts
Financial instruments
Notional Amount	6,735	7,772
Fair Value, Trading, Assets	246	270
Fair Value, Trading, Liabilities	(300)	(235)
Fair Value, Total, Assets	246	270
Fair Value, Total, Liabilities	(300)	(235)
Commodity contracts | Parent Entity
Financial instruments
Notional Amount	6,735	7,772
Fair Value, Trading, Assets	246	270
Fair Value, Trading, Liabilities	(300)	(235)
Fair Value, Total, Assets	246	270
Fair Value, Total, Liabilities	(300)	(235)
Equities
Financial instruments
Notional Amount	96	202
Fair Value, Trading, Assets	1	3
Fair Value, Total, Assets	1	3
Equities | Parent Entity
Financial instruments
Notional Amount	96	202
Fair Value, Trading, Assets	1	3
Fair Value, Total, Assets	1	3
Credit default swaps
Financial instruments
Notional Amount	13,536	10,907
Fair Value, Trading, Assets	102	79
Fair Value, Trading, Liabilities	(101)	(78)
Fair Value, Total, Assets	102	79
Fair Value, Total, Liabilities	(101)	(78)
Credit default swaps | Parent Entity
Financial instruments
Notional Amount	13,536	10,907
Fair Value, Trading, Assets	102	79
Fair Value, Trading, Liabilities	(101)	(78)
Fair Value, Total, Assets	102	79
Fair Value, Total, Liabilities	(101)	(78)
Impact of netting arrangements
Financial instruments
Fair Value, Trading, Assets	(8,222)	(7,332)
Fair Value, Trading, Liabilities	8,912	7,178
Fair Value, Total, Assets	(8,727)	(7,653)
Fair Value, Total, Liabilities	12,889	9,267
Impact of netting arrangements | Parent Entity
Financial instruments
Fair Value, Trading, Assets	(8,222)	(7,338)
Fair Value, Trading, Liabilities	8,912	7,330
Fair Value, Total, Assets	(8,727)	(7,653)
Fair Value, Total, Liabilities	12,889	9,267
Fair-value hedges
Financial instruments
Fair Value, Hedging, Assets	856	870
Fair Value, Hedging, Liabilities	(1,085)	(1,455)
Fair-value hedges | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	817	823
Fair Value, Hedging, Liabilities	(895)	(1,288)
Fair-value hedges | Gross Derivatives
Financial instruments
Fair Value, Hedging, Assets	1,231	1,019
Fair Value, Hedging, Liabilities	(4,718)	(3,237)
Fair-value hedges | Gross Derivatives | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	1,192	971
Fair Value, Hedging, Liabilities	(4,528)	(2,999)
Fair-value hedges | Interest rate contracts
Financial instruments
Fair Value, Hedging, Assets	505	446
Fair Value, Hedging, Liabilities	(4,751)	(3,241)
Fair-value hedges | Interest rate contracts | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	489	426
Fair Value, Hedging, Liabilities	(4,568)	(3,008)
Fair-value hedges | Interest rate contracts - Swap agreements
Financial instruments
Fair Value, Hedging, Assets	505	446
Fair Value, Hedging, Liabilities	(4,751)	(3,241)
Fair-value hedges | Interest rate contracts - Swap agreements | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	489	426
Fair Value, Hedging, Liabilities	(4,568)	(3,008)
Fair-value hedges | Foreign exchange contracts
Financial instruments
Fair Value, Hedging, Assets	726	573
Fair Value, Hedging, Liabilities	33	4
Fair-value hedges | Foreign exchange contracts | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	703	545
Fair Value, Hedging, Liabilities	40	9
Fair-value hedges | Foreign exchange contracts - Cross currency swap agreements
Financial instruments
Fair Value, Hedging, Assets	726	573
Fair Value, Hedging, Liabilities	33	4
Fair-value hedges | Foreign exchange contracts - Cross currency swap agreements | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	703	545
Fair Value, Hedging, Liabilities	40	9
Fair-value hedges | Impact of netting arrangements
Financial instruments
Fair Value, Hedging, Assets	(375)	(149)
Fair Value, Hedging, Liabilities	3,633	1,782
Fair-value hedges | Impact of netting arrangements | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	(375)	(148)
Fair Value, Hedging, Liabilities	3,633	1,711
Cash-flow hedges
Financial instruments
Fair Value, Hedging, Assets	1,894	1,332
Fair Value, Hedging, Liabilities	(421)	(1,144)
Cash-flow hedges | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	1,364	1,147
Fair Value, Hedging, Liabilities	(264)	(816)
Cash-flow hedges | Gross Derivatives
Financial instruments
Fair Value, Hedging, Assets	2,024	1,504
Fair Value, Hedging, Liabilities	(765)	(1,451)
Cash-flow hedges | Gross Derivatives | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	1,494	1,314
Fair Value, Hedging, Liabilities	(608)	(1,042)
Cash-flow hedges | Interest rate contracts
Financial instruments
Fair Value, Hedging, Assets	385	498
Fair Value, Hedging, Liabilities	(550)	(707)
Cash-flow hedges | Interest rate contracts | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	352	465
Fair Value, Hedging, Liabilities	(444)	(588)
Cash-flow hedges | Interest rate contracts - Swap agreements
Financial instruments
Fair Value, Hedging, Assets	385	498
Fair Value, Hedging, Liabilities	(550)	(707)
Cash-flow hedges | Interest rate contracts - Swap agreements | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	352	465
Fair Value, Hedging, Liabilities	(444)	(588)
Cash-flow hedges | Foreign exchange contracts
Financial instruments
Fair Value, Hedging, Assets	1,639	1,006
Fair Value, Hedging, Liabilities	(215)	(744)
Cash-flow hedges | Foreign exchange contracts | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	1,142	849
Fair Value, Hedging, Liabilities	(164)	(454)
Cash-flow hedges | Foreign exchange contracts - Cross currency swap agreements
Financial instruments
Fair Value, Hedging, Assets	1,639	1,006
Fair Value, Hedging, Liabilities	(215)	(744)
Cash-flow hedges | Foreign exchange contracts - Cross currency swap agreements | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	1,142	849
Fair Value, Hedging, Liabilities	(164)	(454)
Cash-flow hedges | Impact of netting arrangements
Financial instruments
Fair Value, Hedging, Assets	(130)	(172)
Fair Value, Hedging, Liabilities	344	307
Cash-flow hedges | Impact of netting arrangements | Parent Entity
Financial instruments
Fair Value, Hedging, Assets	(130)	(167)
Fair Value, Hedging, Liabilities	344	226
Net Investment Hedging
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(32)	(19)
Net Investment Hedging | Parent Entity
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(31)	(16)
Net Investment Hedging | Gross Derivatives
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(32)	(19)
Net Investment Hedging | Gross Derivatives | Parent Entity
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(31)	(16)
Net Investment Hedging | Foreign exchange contracts
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(32)	(19)
Net Investment Hedging | Foreign exchange contracts | Parent Entity
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(31)	(16)
Net Investment Hedging | Foreign exchange contracts - Spot and forward contracts
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	(32)	(19)
Net Investment Hedging | Foreign exchange contracts - Spot and forward contracts | Parent Entity
Financial instruments
Fair Value, Hedging, Assets		19
Fair Value, Hedging, Liabilities	$ (31)	$ (16)

XML

Derivative financial instruments - Credit default swaps (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial instruments
Fair Value, Total, Assets	$ 24,101	$ 24,033
Fair Value, Total, Liabilities	(24,407)	(25,375)
Parent Entity
Financial instruments
Fair Value, Total, Assets	23,562	23,823
Fair Value, Total, Liabilities	(24,229)	(24,911)
Credit default swaps
Financial instruments
Notional Amount	13,536	10,907
Fair Value, Total, Assets	102	79
Fair Value, Total, Liabilities	(101)	(78)
Credit default swaps | Parent Entity
Financial instruments
Notional Amount	13,536	10,907
Fair Value, Total, Assets	102	79
Fair Value, Total, Liabilities	(101)	(78)
Credit protection bought
Financial instruments
Notional Amount	6,895	5,630
Fair Value, Total, Assets	3	5
Fair Value, Total, Liabilities	(101)	(78)
Credit protection bought | Parent Entity
Financial instruments
Notional Amount	6,895	5,630
Fair Value, Total, Assets	3	5
Fair Value, Total, Liabilities	(101)	(78)
Credit protection sold
Financial instruments
Notional Amount	6,641	5,277
Fair Value, Total, Assets	99	74
Credit protection sold | Parent Entity
Financial instruments
Notional Amount	6,641	5,277
Fair Value, Total, Assets	$ 99	$ 74

XML

Financial risk - Credit risk (Details)	Sep. 30, 2018	Sep. 30, 2017
Trading securities and financial assets designated at fair value
Fair value related to credit risk
Financial assets issued by financial institutions (as a percent)	40.00%	52.00%
Financial assets issued by government or semi-government authorities (as a percent)	56.00%	45.00%
Financial assets held in Australia (as a percent)	76.00%	76.00%
Trading securities and financial assets designated at fair value | Parent Entity
Fair value related to credit risk
Financial assets issued by financial institutions (as a percent)	39.00%	50.00%
Financial assets issued by government or semi-government authorities (as a percent)	58.00%	47.00%
Financial assets held in Australia (as a percent)	80.00%	81.00%
Available-for-sale securities
Fair value related to credit risk
Financial assets issued by financial institutions (as a percent)	27.00%	26.00%
Financial assets issued by government or semi-government authorities (as a percent)	73.00%	74.00%
Financial assets held in Australia (as a percent)	89.00%	90.00%
Available-for-sale securities | Parent Entity
Fair value related to credit risk
Financial assets issued by financial institutions (as a percent)	28.00%	27.00%
Financial assets issued by government or semi-government authorities (as a percent)	72.00%	73.00%
Financial assets held in Australia (as a percent)	96.00%	98.00%
Derivative financial instruments
Fair value related to credit risk
Financial assets issued by financial institutions (as a percent)	79.00%	77.00%
Financial assets held in Australia (as a percent)	84.00%	86.00%
Derivative financial instruments | Parent Entity
Fair value related to credit risk
Financial assets issued by financial institutions (as a percent)	79.00%	77.00%
Financial assets held in Australia (as a percent)	86.00%	86.00%

XML

Financial risk - Credit risk by industry (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial risk
Total on balance sheet	$ 826,350	$ 805,234
Undrawn credit commitments	190,397	194,551
Total gross credit risk	1,016,747	999,785
Parent Entity
Financial risk
Total on balance sheet	739,888	718,353
Undrawn credit commitments	167,999	171,979
Total gross credit risk	907,887	890,332
Australia
Financial risk
Total on balance sheet	718,040	701,405
Undrawn credit commitments	152,092	158,392
Total gross credit risk	870,132	859,797
Australia | Parent Entity
Financial risk
Total on balance sheet	712,858	694,145
Undrawn credit commitments	152,064	158,363
Total gross credit risk	864,922	852,508
New Zealand
Financial risk
Total on balance sheet	84,023	82,780
Undrawn credit commitments	22,855	23,090
Total gross credit risk	106,878	105,870
New Zealand | Parent Entity
Financial risk
Total on balance sheet	4,916	5,305
Undrawn credit commitments	776	813
Total gross credit risk	5,692	6,118
Other Overseas
Financial risk
Total on balance sheet	24,287	21,049
Undrawn credit commitments	15,450	13,069
Total gross credit risk	39,737	34,118
Other Overseas | Parent Entity
Financial risk
Total on balance sheet	22,114	18,903
Undrawn credit commitments	15,159	12,803
Total gross credit risk	37,273	31,706
Accommodation, cafes and restaurants | Australia
Financial risk
Total on balance sheet	8,306	8,189
Undrawn credit commitments	1,404	1,468
Total gross credit risk	9,710	9,657
Accommodation, cafes and restaurants | Australia | Parent Entity
Financial risk
Total on balance sheet	8,237	8,110
Undrawn credit commitments	1,404	1,468
Total gross credit risk	9,641	9,578
Accommodation, cafes and restaurants | New Zealand
Financial risk
Total on balance sheet	323	290
Undrawn credit commitments	39	42
Total gross credit risk	362	332
Accommodation, cafes and restaurants | Other Overseas
Financial risk
Total on balance sheet	112	97
Undrawn credit commitments	12	13
Total gross credit risk	124	110
Accommodation, cafes and restaurants | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	70	88
Undrawn credit commitments	12	13
Total gross credit risk	82	101
Agriculture, forestry and fishing | Australia
Financial risk
Total on balance sheet	8,651	8,193
Undrawn credit commitments	2,035	2,155
Total gross credit risk	10,686	10,348
Agriculture, forestry and fishing | Australia | Parent Entity
Financial risk
Total on balance sheet	8,593	8,073
Undrawn credit commitments	2,035	2,155
Total gross credit risk	10,628	10,228
Agriculture, forestry and fishing | New Zealand
Financial risk
Total on balance sheet	8,188	7,809
Undrawn credit commitments	684	745
Total gross credit risk	8,872	8,554
Agriculture, forestry and fishing | New Zealand | Parent Entity
Financial risk
Total on balance sheet	52	38
Undrawn credit commitments	7	7
Total gross credit risk	59	45
Agriculture, forestry and fishing | Other Overseas
Financial risk
Total on balance sheet	19	5
Undrawn credit commitments	1	1
Total gross credit risk	20	6
Agriculture, forestry and fishing | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	4	4
Undrawn credit commitments	1	1
Total gross credit risk	5	5
Construction | Australia
Financial risk
Total on balance sheet	6,756	6,050
Undrawn credit commitments	3,324	3,666
Total gross credit risk	10,080	9,716
Construction | Australia | Parent Entity
Financial risk
Total on balance sheet	6,252	5,447
Undrawn credit commitments	3,324	3,666
Total gross credit risk	9,576	9,113
Construction | New Zealand
Financial risk
Total on balance sheet	504	450
Undrawn credit commitments	429	397
Total gross credit risk	933	847
Construction | New Zealand | Parent Entity
Financial risk
Total on balance sheet	7	6
Undrawn credit commitments	22	13
Total gross credit risk	29	19
Construction | Other Overseas
Financial risk
Total on balance sheet	71	55
Undrawn credit commitments	121	242
Total gross credit risk	192	297
Construction | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	59	44
Undrawn credit commitments	113	237
Total gross credit risk	172	281
Finance and insurance | Australia
Financial risk
Total on balance sheet	57,153	59,432
Undrawn credit commitments	7,781	8,415
Total gross credit risk	64,934	67,847
Finance and insurance | Australia | Parent Entity
Financial risk
Total on balance sheet	56,687	58,589
Undrawn credit commitments	7,781	8,415
Total gross credit risk	64,468	67,004
Finance and insurance | New Zealand
Financial risk
Total on balance sheet	6,919	7,626
Undrawn credit commitments	1,437	2,038
Total gross credit risk	8,356	9,664
Finance and insurance | New Zealand | Parent Entity
Financial risk
Total on balance sheet	2,761	3,230
Undrawn credit commitments	50	56
Total gross credit risk	2,811	3,286
Finance and insurance | Other Overseas
Financial risk
Total on balance sheet	7,845	7,713
Undrawn credit commitments	3,454	3,182
Total gross credit risk	11,299	10,895
Finance and insurance | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	7,641	7,420
Undrawn credit commitments	3,442	3,161
Total gross credit risk	11,083	10,581
Government, administration and defence | Australia
Financial risk
Total on balance sheet	49,830	49,341
Undrawn credit commitments	728	813
Total gross credit risk	50,558	50,154
Government, administration and defence | Australia | Parent Entity
Financial risk
Total on balance sheet	49,824	49,330
Undrawn credit commitments	728	813
Total gross credit risk	50,552	50,143
Government, administration and defence | New Zealand
Financial risk
Total on balance sheet	4,767	5,051
Undrawn credit commitments	691	549
Total gross credit risk	5,458	5,600
Government, administration and defence | New Zealand | Parent Entity
Financial risk
Total on balance sheet	994	929
Undrawn credit commitments	29	23
Total gross credit risk	1,023	952
Government, administration and defence | Other Overseas
Financial risk
Total on balance sheet	4,246	3,071
Undrawn credit commitments	50	1
Total gross credit risk	4,296	3,072
Government, administration and defence | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	3,469	2,449
Undrawn credit commitments	50	1
Total gross credit risk	3,519	2,450
Manufacturing | Australia
Financial risk
Total on balance sheet	9,968	9,784
Undrawn credit commitments	5,738	6,186
Total gross credit risk	15,706	15,970
Manufacturing | Australia | Parent Entity
Financial risk
Total on balance sheet	9,742	9,511
Undrawn credit commitments	5,738	6,186
Total gross credit risk	15,480	15,697
Manufacturing | New Zealand
Financial risk
Total on balance sheet	2,307	2,185
Undrawn credit commitments	1,577	1,527
Total gross credit risk	3,884	3,712
Manufacturing | New Zealand | Parent Entity
Financial risk
Total on balance sheet	206	183
Undrawn credit commitments	97	110
Total gross credit risk	303	293
Manufacturing | Other Overseas
Financial risk
Total on balance sheet	3,364	3,107
Undrawn credit commitments	4,849	4,259
Total gross credit risk	8,213	7,366
Manufacturing | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	3,359	3,089
Undrawn credit commitments	4,741	4,166
Total gross credit risk	8,100	7,255
Mining | Australia
Financial risk
Total on balance sheet	3,637	3,411
Undrawn credit commitments	3,079	3,568
Total gross credit risk	6,716	6,979
Mining | Australia | Parent Entity
Financial risk
Total on balance sheet	3,605	3,371
Undrawn credit commitments	3,078	3,568
Total gross credit risk	6,683	6,939
Mining | New Zealand
Financial risk
Total on balance sheet	213	144
Undrawn credit commitments	101	197
Total gross credit risk	314	341
Mining | New Zealand | Parent Entity
Financial risk
Total on balance sheet	7	3
Undrawn credit commitments	1	3
Total gross credit risk	8	6
Mining | Other Overseas
Financial risk
Total on balance sheet	353	378
Undrawn credit commitments	1,793	1,518
Total gross credit risk	2,146	1,896
Mining | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	354	378
Undrawn credit commitments	1,791	1,516
Total gross credit risk	2,145	1,894
Property | Australia
Financial risk
Total on balance sheet	45,814	43,640
Undrawn credit commitments	12,309	12,046
Total gross credit risk	58,123	55,686
Property | Australia | Parent Entity
Financial risk
Total on balance sheet	45,812	43,641
Undrawn credit commitments	12,309	12,043
Total gross credit risk	58,121	55,684
Property | New Zealand
Financial risk
Total on balance sheet	6,236	5,901
Undrawn credit commitments	1,035	1,039
Total gross credit risk	7,271	6,940
Property | New Zealand | Parent Entity
Financial risk
Total on balance sheet	52	43
Undrawn credit commitments	8	10
Total gross credit risk	60	53
Property | Other Overseas
Financial risk
Total on balance sheet	467	491
Undrawn credit commitments	57	40
Total gross credit risk	524	531
Property | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	234	288
Undrawn credit commitments	31	34
Total gross credit risk	265	322
Property services and business services | Australia
Financial risk
Total on balance sheet	13,561	12,119
Undrawn credit commitments	5,596	5,145
Total gross credit risk	19,157	17,264
Property services and business services | Australia | Parent Entity
Financial risk
Total on balance sheet	12,517	11,047
Undrawn credit commitments	5,595	5,143
Total gross credit risk	18,112	16,190
Property services and business services | New Zealand
Financial risk
Total on balance sheet	1,108	1,142
Undrawn credit commitments	512	405
Total gross credit risk	1,620	1,547
Property services and business services | New Zealand | Parent Entity
Financial risk
Total on balance sheet	43	38
Undrawn credit commitments	31	57
Total gross credit risk	74	95
Property services and business services | Other Overseas
Financial risk
Total on balance sheet	1,754	542
Undrawn credit commitments	733	508
Total gross credit risk	2,487	1,050
Property services and business services | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	1,665	527
Undrawn credit commitments	730	507
Total gross credit risk	2,395	1,034
Services | Australia
Financial risk
Total on balance sheet	12,297	13,198
Undrawn credit commitments	5,700	6,082
Total gross credit risk	17,997	19,280
Services | Australia | Parent Entity
Financial risk
Total on balance sheet	12,029	12,853
Undrawn credit commitments	5,700	6,081
Total gross credit risk	17,729	18,934
Services | New Zealand
Financial risk
Total on balance sheet	1,758	1,834
Undrawn credit commitments	613	604
Total gross credit risk	2,371	2,438
Services | New Zealand | Parent Entity
Financial risk
Total on balance sheet	25	25
Undrawn credit commitments	44	64
Total gross credit risk	69	89
Services | Other Overseas
Financial risk
Total on balance sheet	207	205
Undrawn credit commitments	448	105
Total gross credit risk	655	310
Services | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	188	74
Undrawn credit commitments	445	101
Total gross credit risk	633	175
Trade | Australia
Financial risk
Total on balance sheet	16,809	16,401
Undrawn credit commitments	7,951	8,712
Total gross credit risk	24,760	25,113
Trade | Australia | Parent Entity
Financial risk
Total on balance sheet	16,598	16,098
Undrawn credit commitments	7,949	8,691
Total gross credit risk	24,547	24,789
Trade | New Zealand
Financial risk
Total on balance sheet	2,568	2,215
Undrawn credit commitments	1,023	1,176
Total gross credit risk	3,591	3,391
Trade | New Zealand | Parent Entity
Financial risk
Total on balance sheet	322	269
Undrawn credit commitments	234	216
Total gross credit risk	556	485
Trade | Other Overseas
Financial risk
Total on balance sheet	2,993	2,680
Undrawn credit commitments	3,330	2,458
Total gross credit risk	6,323	5,138
Trade | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	2,807	2,446
Undrawn credit commitments	3,216	2,354
Total gross credit risk	6,023	4,800
Transport and storage | Australia
Financial risk
Total on balance sheet	9,587	9,554
Undrawn credit commitments	4,958	6,038
Total gross credit risk	14,545	15,592
Transport and storage | Australia | Parent Entity
Financial risk
Total on balance sheet	9,190	9,097
Undrawn credit commitments	4,957	6,038
Total gross credit risk	14,147	15,135
Transport and storage | New Zealand
Financial risk
Total on balance sheet	1,102	1,118
Undrawn credit commitments	791	847
Total gross credit risk	1,893	1,965
Transport and storage | New Zealand | Parent Entity
Financial risk
Total on balance sheet	73	38
Undrawn credit commitments	87	89
Total gross credit risk	160	127
Transport and storage | Other Overseas
Financial risk
Total on balance sheet	1,232	1,426
Undrawn credit commitments	222	437
Total gross credit risk	1,454	1,863
Transport and storage | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	1,127	1,196
Undrawn credit commitments	214	414
Total gross credit risk	1,341	1,610
Utilities | Australia
Financial risk
Total on balance sheet	5,281	6,418
Undrawn credit commitments	3,471	4,216
Total gross credit risk	8,752	10,634
Utilities | Australia | Parent Entity
Financial risk
Total on balance sheet	5,255	6,386
Undrawn credit commitments	3,471	4,216
Total gross credit risk	8,726	10,602
Utilities | New Zealand
Financial risk
Total on balance sheet	1,415	1,822
Undrawn credit commitments	1,564	1,302
Total gross credit risk	2,979	3,124
Utilities | New Zealand | Parent Entity
Financial risk
Total on balance sheet	372	498
Undrawn credit commitments	146	128
Total gross credit risk	518	626
Utilities | Other Overseas
Financial risk
Total on balance sheet	763	544
Undrawn credit commitments	329	260
Total gross credit risk	1,092	804
Utilities | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	761	538
Undrawn credit commitments	329	259
Total gross credit risk	1,090	797
Retail lending | Australia
Financial risk
Total on balance sheet	463,609	451,315
Undrawn credit commitments	86,421	88,363
Total gross credit risk	550,030	539,678
Retail lending | Australia | Parent Entity
Financial risk
Total on balance sheet	462,568	449,207
Undrawn credit commitments	86,421	88,362
Total gross credit risk	548,989	537,569
Retail lending | New Zealand
Financial risk
Total on balance sheet	46,614	45,190
Undrawn credit commitments	12,114	11,995
Total gross credit risk	58,728	57,185
Retail lending | New Zealand | Parent Entity
Financial risk
Total on balance sheet	1
Undrawn credit commitments	19	33
Total gross credit risk	20	33
Retail lending | Other Overseas
Financial risk
Total on balance sheet	683	657
Undrawn credit commitments	45	37
Total gross credit risk	728	694
Retail lending | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	277	280
Undrawn credit commitments	40	34
Total gross credit risk	317	314
Other | Australia
Financial risk
Total on balance sheet	6,781	4,360
Undrawn credit commitments	1,597	1,519
Total gross credit risk	8,378	5,879
Other | Australia | Parent Entity
Financial risk
Total on balance sheet	5,949	3,385
Undrawn credit commitments	1,574	1,518
Total gross credit risk	7,523	4,903
Other | New Zealand
Financial risk
Total on balance sheet	1	3
Undrawn credit commitments	245	227
Total gross credit risk	246	230
Other | New Zealand | Parent Entity
Financial risk
Total on balance sheet	1	5
Undrawn credit commitments	1	4
Total gross credit risk	2	9
Other | Other Overseas
Financial risk
Total on balance sheet	178	78
Undrawn credit commitments	6	8
Total gross credit risk	184	86
Other | Other Overseas | Parent Entity
Financial risk
Total on balance sheet	99	82
Undrawn credit commitments	4	5
Total gross credit risk	$ 103	$ 87

XML

Financial risk - Credit quality of financial assets (Details) - Credit risk - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Financial risk
Financial assets	$ 828,050	$ 807,123
Parent Entity
Financial risk
Financial assets	881,755	862,437
Gross/Cost
Financial risk
Financial assets	830,864	809,989
Gross/Cost | Parent Entity
Financial risk
Financial assets	884,162	864,810
Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	808,953	788,597
Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	864,091	845,385
Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	586,393	569,645
Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	687,386	673,641
Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	213,693	210,856
Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	169,225	165,497
Gross/Cost | Neither past due nor impaired | Weak
Financial risk
Financial assets	8,867	8,096
Gross/Cost | Neither past due nor impaired | Weak | Parent Entity
Financial risk
Financial assets	7,480	6,247
Gross/Cost | Past due but not impaired
Financial risk
Financial assets	20,492	19,846
Gross/Cost | Past due but not impaired | Parent Entity
Financial risk
Financial assets	18,915	18,186
Gross/Cost | Impaired
Financial risk
Financial assets	1,419	1,546
Gross/Cost | Impaired | Parent Entity
Financial risk
Financial assets	1,156	1,239
Provision for impairment charges on loans
Financial risk
Financial assets	(2,814)	(2,866)
Provision for impairment charges on loans | Parent Entity
Financial risk
Financial assets	(2,407)	(2,373)
Receivables due from other financial institutions
Financial risk
Financial assets	5,790	7,128
Receivables due from other financial institutions | Parent Entity
Financial risk
Financial assets	5,711	6,357
Receivables due from other financial institutions | Gross/Cost
Financial risk
Financial assets	5,790	7,128
Receivables due from other financial institutions | Gross/Cost | Parent Entity
Financial risk
Financial assets	5,711	6,357
Receivables due from other financial institutions | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	5,790	7,128
Receivables due from other financial institutions | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	5,711	6,357
Receivables due from other financial institutions | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	5,775	7,119
Receivables due from other financial institutions | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	5,709	6,352
Receivables due from other financial institutions | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	15	9
Receivables due from other financial institutions | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	2	5
Trading securities and financial assets designated at fair value
Financial risk
Financial assets	21,865	24,995
Trading securities and financial assets designated at fair value | Parent Entity
Financial risk
Financial assets	20,346	22,875
Trading securities and financial assets designated at fair value | Gross/Cost
Financial risk
Financial assets	21,865	24,995
Trading securities and financial assets designated at fair value | Gross/Cost | Parent Entity
Financial risk
Financial assets	20,346	22,875
Trading securities and financial assets designated at fair value | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	21,865	24,995
Trading securities and financial assets designated at fair value | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	20,346	22,875
Trading securities and financial assets designated at fair value | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	21,720	24,973
Trading securities and financial assets designated at fair value | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	20,201	22,870
Trading securities and financial assets designated at fair value | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	145	22
Trading securities and financial assets designated at fair value | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	145	5
Derivative financial instruments
Financial risk
Financial assets	24,101	24,033
Derivative financial instruments | Parent Entity
Financial risk
Financial assets	23,562	23,823
Derivative financial instruments | Gross/Cost
Financial risk
Financial assets	24,101	24,033
Derivative financial instruments | Gross/Cost | Parent Entity
Financial risk
Financial assets	23,562	23,823
Derivative financial instruments | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	24,101	24,032
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	23,562	23,822
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	23,692	23,184
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	23,155	22,974
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	406	815
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	404	815
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Weak
Financial risk
Financial assets	3	33
Derivative financial instruments | Gross/Cost | Neither past due nor impaired | Weak | Parent Entity
Financial risk
Financial assets	3	33
Derivative financial instruments | Gross/Cost | Impaired
Financial risk
Financial assets		1
Derivative financial instruments | Gross/Cost | Impaired | Parent Entity
Financial risk
Financial assets		1
Available-for-sale securities
Financial risk
Financial assets	60,735	60,245
Available-for-sale securities | Parent Entity
Financial risk
Financial assets	56,446	55,743
Available-for-sale securities | Gross/Cost
Financial risk
Financial assets	60,735	60,245
Available-for-sale securities | Gross/Cost | Parent Entity
Financial risk
Financial assets	56,446	55,743
Available-for-sale securities | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	60,735	60,245
Available-for-sale securities | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	56,446	55,743
Available-for-sale securities | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	60,229	59,752
Available-for-sale securities | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	56,443	55,737
Available-for-sale securities | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	506	493
Available-for-sale securities | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	3	6
Loans | Impaired
Financial risk
Financial assets	763	828	$ 1,092	$ 1,018	$ 1,293
Loans | Impaired | Parent Entity
Financial risk
Financial assets	608	640
Loans | Gross/Cost | Impaired
Financial risk
Financial assets	1,416	1,542
Loans | Gross/Cost | Impaired | Parent Entity
Financial risk
Financial assets	1,154	1,236
Loans | Provision for impairment charges on loans | Impaired
Financial risk
Financial assets	(653)	(714)
Loans | Provision for impairment charges on loans | Impaired | Parent Entity
Financial risk
Financial assets	(546)	(596)
Loans - housing and personal
Financial risk
Financial assets	513,921	495,820
Loans - housing and personal | Parent Entity
Financial risk
Financial assets	466,051	448,398
Loans - housing and personal | Impaired
Financial risk
Financial assets	385	375
Loans - housing and personal | Impaired | Parent Entity
Financial risk
Financial assets	331	297
Loans - housing and personal | Gross/Cost
Financial risk
Financial assets	515,224	497,151
Loans - housing and personal | Gross/Cost | Parent Entity
Financial risk
Financial assets	467,176	449,489
Loans - housing and personal | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	498,375	479,931
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	451,560	433,635
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	379,383	363,026
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	359,843	344,739
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	114,627	113,363
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	87,667	85,673
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Weak
Financial risk
Financial assets	4,365	3,542
Loans - housing and personal | Gross/Cost | Neither past due nor impaired | Weak | Parent Entity
Financial risk
Financial assets	4,050	3,223
Loans - housing and personal | Gross/Cost | Past due but not impaired
Financial risk
Financial assets	16,162	16,539
Loans - housing and personal | Gross/Cost | Past due but not impaired | Parent Entity
Financial risk
Financial assets	15,044	15,312
Loans - housing and personal | Gross/Cost | Impaired
Financial risk
Financial assets	687	681
Loans - housing and personal | Gross/Cost | Impaired | Parent Entity
Financial risk
Financial assets	572	542
Loans - housing and personal | Provision for impairment charges on loans
Financial risk
Financial assets	(1,303)	(1,331)
Loans - housing and personal | Provision for impairment charges on loans | Parent Entity
Financial risk
Financial assets	(1,125)	(1,091)
Loans - housing and personal | Provision for impairment charges on loans | Impaired
Financial risk
Financial assets	(302)	(306)
Loans - housing and personal | Provision for impairment charges on loans | Impaired | Parent Entity
Financial risk
Financial assets	(241)	(245)
Loans - business
Financial risk
Financial assets	195,769	189,099
Loans - business | Parent Entity
Financial risk
Financial assets	164,117	157,839
Loans - business | Impaired
Financial risk
Financial assets	378	453
Loans - business | Impaired | Parent Entity
Financial risk
Financial assets	277	343
Loans - business | Gross/Cost
Financial risk
Financial assets	197,280	190,634
Loans - business | Gross/Cost | Parent Entity
Financial risk
Financial assets	165,399	159,121
Loans - business | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	192,258	186,500
Loans - business | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	160,979	155,584
Loans - business | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	90,408	86,437
Loans - business | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	76,995	74,019
Loans - business | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	97,369	95,556
Loans - business | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	80,572	78,584
Loans - business | Gross/Cost | Neither past due nor impaired | Weak
Financial risk
Financial assets	4,481	4,507
Loans - business | Gross/Cost | Neither past due nor impaired | Weak | Parent Entity
Financial risk
Financial assets	3,412	2,981
Loans - business | Gross/Cost | Past due but not impaired
Financial risk
Financial assets	4,293	3,273
Loans - business | Gross/Cost | Past due but not impaired | Parent Entity
Financial risk
Financial assets	3,838	2,843
Loans - business | Gross/Cost | Impaired
Financial risk
Financial assets	729	861
Loans - business | Gross/Cost | Impaired | Parent Entity
Financial risk
Financial assets	582	694
Loans - business | Provision for impairment charges on loans
Financial risk
Financial assets	(1,511)	(1,535)
Loans - business | Provision for impairment charges on loans | Parent Entity
Financial risk
Financial assets	(1,282)	(1,282)
Loans - business | Provision for impairment charges on loans | Impaired
Financial risk
Financial assets	(351)	(408)
Loans - business | Provision for impairment charges on loans | Impaired | Parent Entity
Financial risk
Financial assets	(305)	(351)
Regulatory deposits with central banks overseas
Financial risk
Financial assets	1,355	1,048
Regulatory deposits with central banks overseas | Parent Entity
Financial risk
Financial assets	1,248	945
Regulatory deposits with central banks overseas | Gross/Cost
Financial risk
Financial assets	1,355	1,048
Regulatory deposits with central banks overseas | Gross/Cost | Parent Entity
Financial risk
Financial assets	1,248	945
Regulatory deposits with central banks overseas | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	1,355	1,048
Regulatory deposits with central banks overseas | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	1,248	945
Regulatory deposits with central banks overseas | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	1,122	814
Regulatory deposits with central banks overseas | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	1,122	814
Regulatory deposits with central banks overseas | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	233	234
Regulatory deposits with central banks overseas | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	126	131
Due from subsidiaries | Parent Entity
Financial risk
Financial assets	140,597	142,455
Due from subsidiaries | Gross/Cost | Parent Entity
Financial risk
Financial assets	140,597	142,455
Due from subsidiaries | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	140,597	142,455
Due from subsidiaries | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	140,597	142,455
Other financial assets
Financial risk
Financial assets	4,514	4,755
Accrued interest	1,276	1,193
Securities sold not yet delivered	1,264	1,408
Other financial assets | Parent Entity
Financial risk
Financial assets	3,677	4,002
Accrued interest	1,103	1,029
Securities sold not yet delivered	1,264	1,388
Other financial assets | Gross/Cost
Financial risk
Financial assets	4,514	4,755
Other financial assets | Gross/Cost | Parent Entity
Financial risk
Financial assets	3,677	4,002
Other financial assets | Gross/Cost | Neither past due nor impaired
Financial risk
Financial assets	4,474	4,718
Other financial assets | Gross/Cost | Neither past due nor impaired | Parent Entity
Financial risk
Financial assets	3,642	3,969
Other financial assets | Gross/Cost | Neither past due nor impaired | Strong
Financial risk
Financial assets	4,064	4,340
Other financial assets | Gross/Cost | Neither past due nor impaired | Strong | Parent Entity
Financial risk
Financial assets	3,321	3,681
Other financial assets | Gross/Cost | Neither past due nor impaired | Good/Satisfactory
Financial risk
Financial assets	392	364
Other financial assets | Gross/Cost | Neither past due nor impaired | Good/Satisfactory | Parent Entity
Financial risk
Financial assets	306	278
Other financial assets | Gross/Cost | Neither past due nor impaired | Weak
Financial risk
Financial assets	18	14
Other financial assets | Gross/Cost | Neither past due nor impaired | Weak | Parent Entity
Financial risk
Financial assets	15	10
Other financial assets | Gross/Cost | Past due but not impaired
Financial risk
Financial assets	37	34
Other financial assets | Gross/Cost | Past due but not impaired | Parent Entity
Financial risk
Financial assets	33	31
Other financial assets | Gross/Cost | Impaired
Financial risk
Financial assets	3	3
Other financial assets | Gross/Cost | Impaired | Parent Entity
Financial risk
Financial assets	$ 2	$ 2

XML

Financial risk - Financial assets past due, but not impaired (Details) - Credit risk - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Past due receivables
Financial assets	$ 828,050	$ 807,123
Parent Entity
Past due receivables
Financial assets	881,755	862,437
Loans - housing and personal
Past due receivables
Financial assets	513,921	495,820
Loans - housing and personal | Parent Entity
Past due receivables
Financial assets	466,051	448,398
Loans - business
Past due receivables
Financial assets	195,769	189,099
Loans - business | Parent Entity
Past due receivables
Financial assets	164,117	157,839
Other financial assets
Past due receivables
Financial assets	4,514	4,755
Other financial assets | Parent Entity
Past due receivables
Financial assets	3,677	4,002
Gross/Cost
Past due receivables
Financial assets	830,864	809,989
Gross/Cost | Parent Entity
Past due receivables
Financial assets	884,162	864,810
Gross/Cost | Loans - housing and personal
Past due receivables
Financial assets	515,224	497,151
Gross/Cost | Loans - housing and personal | Parent Entity
Past due receivables
Financial assets	467,176	449,489
Gross/Cost | Loans - business
Past due receivables
Financial assets	197,280	190,634
Gross/Cost | Loans - business | Parent Entity
Past due receivables
Financial assets	165,399	159,121
Gross/Cost | Other financial assets
Past due receivables
Financial assets	4,514	4,755
Gross/Cost | Other financial assets | Parent Entity
Past due receivables
Financial assets	3,677	4,002
Gross/Cost | Past due but not impaired
Past due receivables
Financial assets	20,492	19,846
Gross/Cost | Past due but not impaired | Parent Entity
Past due receivables
Financial assets	18,915	18,186
Gross/Cost | Past due but not impaired | 1-5 days
Past due receivables
Financial assets	4,618	5,222
Gross/Cost | Past due but not impaired | 1-5 days | Parent Entity
Past due receivables
Financial assets	4,240	4,827
Gross/Cost | Past due but not impaired | 6-89 days
Past due receivables
Financial assets	12,269	11,435
Gross/Cost | Past due but not impaired | 6-89 days | Parent Entity
Past due receivables
Financial assets	11,200	10,299
Gross/Cost | Past due but not impaired | 90+ days
Past due receivables
Financial assets	3,605	3,189
Gross/Cost | Past due but not impaired | 90+ days | Parent Entity
Past due receivables
Financial assets	3,475	3,060
Gross/Cost | Past due but not impaired | Loans - housing and personal
Past due receivables
Financial assets	16,162	16,539
Gross/Cost | Past due but not impaired | Loans - housing and personal | Parent Entity
Past due receivables
Financial assets	15,044	15,312
Gross/Cost | Past due but not impaired | Loans - housing and personal | 1-5 days
Past due receivables
Financial assets	3,440	4,515
Gross/Cost | Past due but not impaired | Loans - housing and personal | 1-5 days | Parent Entity
Past due receivables
Financial assets	3,179	4,216
Gross/Cost | Past due but not impaired | Loans - housing and personal | 6-89 days
Past due receivables
Financial assets	9,688	9,331
Gross/Cost | Past due but not impaired | Loans - housing and personal | 6-89 days | Parent Entity
Past due receivables
Financial assets	8,895	8,471
Gross/Cost | Past due but not impaired | Loans - housing and personal | 90+ days
Past due receivables
Financial assets	3,034	2,693
Gross/Cost | Past due but not impaired | Loans - housing and personal | 90+ days | Parent Entity
Past due receivables
Financial assets	2,970	2,625
Gross/Cost | Past due but not impaired | Loans - business
Past due receivables
Financial assets	4,293	3,273
Gross/Cost | Past due but not impaired | Loans - business | Parent Entity
Past due receivables
Financial assets	3,838	2,843
Gross/Cost | Past due but not impaired | Loans - business | 1-5 days
Past due receivables
Financial assets	1,170	698
Gross/Cost | Past due but not impaired | Loans - business | 1-5 days | Parent Entity
Past due receivables
Financial assets	1,054	603
Gross/Cost | Past due but not impaired | Loans - business | 6-89 days
Past due receivables
Financial assets	2,558	2,085
Gross/Cost | Past due but not impaired | Loans - business | 6-89 days | Parent Entity
Past due receivables
Financial assets	2,285	1,810
Gross/Cost | Past due but not impaired | Loans - business | 90+ days
Past due receivables
Financial assets	565	490
Gross/Cost | Past due but not impaired | Loans - business | 90+ days | Parent Entity
Past due receivables
Financial assets	499	430
Gross/Cost | Past due but not impaired | Other financial assets
Past due receivables
Financial assets	37	34
Gross/Cost | Past due but not impaired | Other financial assets | Parent Entity
Past due receivables
Financial assets	33	31
Gross/Cost | Past due but not impaired | Other financial assets | 1-5 days
Past due receivables
Financial assets	8	9
Gross/Cost | Past due but not impaired | Other financial assets | 1-5 days | Parent Entity
Past due receivables
Financial assets	7	8
Gross/Cost | Past due but not impaired | Other financial assets | 6-89 days
Past due receivables
Financial assets	23	19
Gross/Cost | Past due but not impaired | Other financial assets | 6-89 days | Parent Entity
Past due receivables
Financial assets	20	18
Gross/Cost | Past due but not impaired | Other financial assets | 90+ days
Past due receivables
Financial assets	6	6
Gross/Cost | Past due but not impaired | Other financial assets | 90+ days | Parent Entity
Past due receivables
Financial assets	$ 6	$ 5

XML

Financial risk - Financial assets in default, but not impaired (Details) - Credit risk - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Past due receivables
Financial assets	$ 828,050	$ 807,123
Gross/Cost
Past due receivables
Financial assets	830,864	809,989
90 days past due or otherwise in default, not impaired | Gross/Cost
Past due receivables
Financial assets	4,017	3,458	$ 3,181
90 days past due or otherwise in default, not impaired | Gross/Cost | Australia
Past due receivables
Financial assets	3,861	3,322	3,075
90 days past due or otherwise in default, not impaired | Gross/Cost | New Zealand
Past due receivables
Financial assets	127	117	89
90 days past due or otherwise in default, not impaired | Gross/Cost | Other Overseas
Past due receivables
Financial assets	$ 29	$ 19	$ 17

XML

Financial risk - Impaired loans (Details) - Credit risk - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Past due receivables
Financial assets	$ 828,050	$ 807,123
Parent Entity
Past due receivables
Financial assets	881,755	862,437
Gross/Cost
Past due receivables
Financial assets	830,864	809,989
Gross/Cost | Parent Entity
Past due receivables
Financial assets	884,162	864,810
Provision for impairment charges on loans
Past due receivables
Financial assets	(2,814)	(2,866)
Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(2,407)	(2,373)
Impaired | Gross/Cost
Past due receivables
Financial assets	1,419	1,546
Impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	1,156	1,239
Loans | Impaired
Past due receivables
Financial assets	763	828	$ 1,092	$ 1,018	$ 1,293
Loans | Impaired | Parent Entity
Past due receivables
Financial assets	608	640
Loans | Impaired | Gross/Cost
Past due receivables
Financial assets	1,416	1,542
Loans | Impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	1,154	1,236
Loans | Impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(653)	(714)
Loans | Impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(546)	(596)
Loans | Individually impaired
Past due receivables
Financial assets	275	376
Loans | Individually impaired | Parent Entity
Past due receivables
Financial assets	155	238
Loans | Individually impaired | Gross/Cost
Past due receivables
Financial assets	697	856
Loans | Individually impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	530	655
Loans | Individually impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(422)	(480)
Loans | Individually impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(375)	(417)
Loans | Collectively impaired
Past due receivables
Financial assets	488	452
Loans | Collectively impaired | Parent Entity
Past due receivables
Financial assets	453	402
Loans | Collectively impaired | Gross/Cost
Past due receivables
Financial assets	719	686
Loans | Collectively impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	624	581
Loans | Collectively impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(231)	(234)
Loans | Collectively impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(171)	(179)
Loans - housing and personal
Past due receivables
Financial assets	513,921	495,820
Loans - housing and personal | Parent Entity
Past due receivables
Financial assets	466,051	448,398
Loans - housing and personal | Gross/Cost
Past due receivables
Financial assets	515,224	497,151
Loans - housing and personal | Gross/Cost | Parent Entity
Past due receivables
Financial assets	467,176	449,489
Loans - housing and personal | Provision for impairment charges on loans
Past due receivables
Financial assets	(1,303)	(1,331)
Loans - housing and personal | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(1,125)	(1,091)
Loans - housing and personal | Impaired
Past due receivables
Financial assets	385	375
Loans - housing and personal | Impaired | Parent Entity
Past due receivables
Financial assets	331	297
Loans - housing and personal | Impaired | Gross/Cost
Past due receivables
Financial assets	687	681
Loans - housing and personal | Impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	572	542
Loans - housing and personal | Impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(302)	(306)
Loans - housing and personal | Impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(241)	(245)
Loans - housing and personal | Individually impaired
Past due receivables
Financial assets	59	60
Loans - housing and personal | Individually impaired | Parent Entity
Past due receivables
Financial assets	45	38
Loans - housing and personal | Individually impaired | Gross/Cost
Past due receivables
Financial assets	165	164
Loans - housing and personal | Individually impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	130	121
Loans - housing and personal | Individually impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(106)	(104)
Loans - housing and personal | Individually impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(85)	(83)
Loans - housing and personal | Collectively impaired
Past due receivables
Financial assets	326	315
Loans - housing and personal | Collectively impaired | Parent Entity
Past due receivables
Financial assets	286	259
Loans - housing and personal | Collectively impaired | Gross/Cost
Past due receivables
Financial assets	522	517
Loans - housing and personal | Collectively impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	442	421
Loans - housing and personal | Collectively impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(196)	(202)
Loans - housing and personal | Collectively impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(156)	(162)
Loans - business
Past due receivables
Financial assets	195,769	189,099
Loans - business | Parent Entity
Past due receivables
Financial assets	164,117	157,839
Loans - business | Gross/Cost
Past due receivables
Financial assets	197,280	190,634
Loans - business | Gross/Cost | Parent Entity
Past due receivables
Financial assets	165,399	159,121
Loans - business | Provision for impairment charges on loans
Past due receivables
Financial assets	(1,511)	(1,535)
Loans - business | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(1,282)	(1,282)
Loans - business | Impaired
Past due receivables
Financial assets	378	453
Loans - business | Impaired | Parent Entity
Past due receivables
Financial assets	277	343
Loans - business | Impaired | Gross/Cost
Past due receivables
Financial assets	729	861
Loans - business | Impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	582	694
Loans - business | Impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(351)	(408)
Loans - business | Impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(305)	(351)
Loans - business | Individually impaired
Past due receivables
Financial assets	216	316
Loans - business | Individually impaired | Parent Entity
Past due receivables
Financial assets	110	200
Loans - business | Individually impaired | Gross/Cost
Past due receivables
Financial assets	532	692
Loans - business | Individually impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	400	534
Loans - business | Individually impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(316)	(376)
Loans - business | Individually impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	(290)	(334)
Loans - business | Collectively impaired
Past due receivables
Financial assets	162	137
Loans - business | Collectively impaired | Parent Entity
Past due receivables
Financial assets	167	143
Loans - business | Collectively impaired | Gross/Cost
Past due receivables
Financial assets	197	169
Loans - business | Collectively impaired | Gross/Cost | Parent Entity
Past due receivables
Financial assets	182	160
Loans - business | Collectively impaired | Provision for impairment charges on loans
Past due receivables
Financial assets	(35)	(32)
Loans - business | Collectively impaired | Provision for impairment charges on loans | Parent Entity
Past due receivables
Financial assets	$ (15)	$ (17)

XML

Financial risk - Impaired loans by type and geography (Details) - Credit risk - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Past due receivables
Financial assets	$ 828,050	$ 807,123
Gross/Cost
Past due receivables
Financial assets	830,864	809,989
Provision for impairment charges on loans
Past due receivables
Financial assets	(2,814)	(2,866)
Impaired | Gross/Cost
Past due receivables
Financial assets	1,419	1,546
Impaired | Loans
Past due receivables
Financial assets	763	828	$ 1,092	$ 1,018	$ 1,293
Impaired | Loans | Gross/Cost
Past due receivables
Financial assets	1,416	1,542
Impaired | Loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(653)	(714)
Impaired | Loans | Australia | Non-performing loans
Past due receivables
Financial assets	460	515	820	648	883
Impaired | Loans | Australia | Non-performing loans | Gross/Cost
Past due receivables
Financial assets	882	975	1,589	1,220	1,580
Impaired | Loans | Australia | Non-performing loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(422)	(460)	(769)	(572)	(697)
Impaired | Loans | Australia | Restructured loans
Past due receivables
Financial assets	8	5	2	10	11
Impaired | Loans | Australia | Restructured loans | Gross/Cost
Past due receivables
Financial assets	9	12	13	22	34
Impaired | Loans | Australia | Restructured loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(1)	(7)	(11)	(12)	(23)
Impaired | Loans | Australia | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Past due receivables
Financial assets	179	175	108	88	71
Impaired | Loans | Australia | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due | Gross/Cost
Past due receivables
Financial assets	358	362	267	252	203
Impaired | Loans | Australia | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due | Provision for impairment charges on loans
Past due receivables
Financial assets	(179)	(187)	(159)	(164)	(132)
Impaired | Loans | New Zealand | Non-performing loans
Past due receivables
Financial assets	94	111	123	244	267
Impaired | Loans | New Zealand | Non-performing loans | Gross/Cost
Past due receivables
Financial assets	124	152	218	348	397
Impaired | Loans | New Zealand | Non-performing loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(30)	(41)	(95)	(104)	(130)
Impaired | Loans | New Zealand | Restructured loans
Past due receivables
Financial assets	10	10	12	13
Impaired | Loans | New Zealand | Restructured loans | Gross/Cost
Past due receivables
Financial assets	14	15	16	17
Impaired | Loans | New Zealand | Restructured loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(4)	(5)	(4)	(4)
Impaired | Loans | New Zealand | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Past due receivables
Financial assets	3	3	3	3	4
Impaired | Loans | New Zealand | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due | Gross/Cost
Past due receivables
Financial assets	12	11	10	10	13
Impaired | Loans | New Zealand | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due | Provision for impairment charges on loans
Past due receivables
Financial assets	(9)	(8)	(7)	(7)	(9)
Impaired | Loans | Other Overseas | Non-performing loans
Past due receivables
Financial assets	7	9	23	12	18
Impaired | Loans | Other Overseas | Non-performing loans | Gross/Cost
Past due receivables
Financial assets	13	15	44	25	53
Impaired | Loans | Other Overseas | Non-performing loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(6)	$ (6)	(21)	(13)	(35)
Impaired | Loans | Other Overseas | Restructured loans
Past due receivables
Financial assets	2		1		38
Impaired | Loans | Other Overseas | Restructured loans | Gross/Cost
Past due receivables
Financial assets	3		2		59
Impaired | Loans | Other Overseas | Restructured loans | Provision for impairment charges on loans
Past due receivables
Financial assets	(1)		$ (1)		(21)
Impaired | Loans | Other Overseas | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due
Past due receivables
Financial assets					1
Impaired | Loans | Other Overseas | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due | Gross/Cost
Past due receivables
Financial assets	1			1	$ 1
Impaired | Loans | Other Overseas | Overdrafts, personal loans and revolving credit facilities greater than 90 days past due | Provision for impairment charges on loans
Past due receivables
Financial assets	$ (1)			$ (1)

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Financial risk - Interest on non-performing loans and restructured financial assets (Details) $ in Millions	12 Months Ended
	Sep. 30, 2018 AUD ($)
Past due receivables
Interest received	$ 11
Interest forgone	31
Australia
Past due receivables
Interest received	3
Interest forgone	31
Overseas
Past due receivables
Interest received	$ 8

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Financial risk - Coverage from collateral held (Details)	Sep. 30, 2018	Sep. 30, 2017
Neither past due nor impaired
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	85.90%	84.90%
Partially secured (as a percent)	6.80%	7.90%
Unsecured (as a percent)	7.30%	7.20%
Total (as a percentage)	100.00%	100.00%
Neither past due nor impaired | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	87.50%	86.70%
Partially secured (as a percent)	5.60%	6.50%
Unsecured (as a percent)	6.90%	6.80%
Total (as a percentage)	100.00%	100.00%
Neither past due nor impaired | Loans - housing and personal
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	97.50%	97.00%
Partially secured (as a percent)	0.60%	0.90%
Unsecured (as a percent)	1.90%	2.10%
Total (as a percentage)	100.00%	100.00%
Neither past due nor impaired | Loans - housing and personal | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	98.10%	97.90%
Partially secured (as a percent)	0.30%	0.30%
Unsecured (as a percent)	1.60%	1.80%
Total (as a percentage)	100.00%	100.00%
Neither past due nor impaired | Loans - business
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	55.80%	54.00%
Partially secured (as a percent)	22.90%	25.70%
Unsecured (as a percent)	21.30%	20.30%
Total (as a percentage)	100.00%	100.00%
Neither past due nor impaired | Loans - business | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	57.80%	55.40%
Partially secured (as a percent)	20.40%	23.70%
Unsecured (as a percent)	21.80%	20.90%
Total (as a percentage)	100.00%	100.00%
Past due but not impaired
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	85.80%	87.90%
Partially secured (as a percent)	7.50%	6.90%
Unsecured (as a percent)	6.70%	5.20%
Total (as a percentage)	100.00%	100.00%
Past due but not impaired | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	87.30%	90.80%
Partially secured (as a percent)	6.30%	4.50%
Unsecured (as a percent)	6.40%	4.70%
Total (as a percentage)	100.00%	100.00%
Past due but not impaired | Loans - housing and personal
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	94.60%	93.90%
Partially secured (as a percent)	2.00%	2.60%
Unsecured (as a percent)	3.40%	3.50%
Total (as a percentage)	100.00%	100.00%
Past due but not impaired | Loans - housing and personal | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	95.70%	96.40%
Partially secured (as a percent)	1.50%	0.60%
Unsecured (as a percent)	2.80%	3.00%
Total (as a percentage)	100.00%	100.00%
Past due but not impaired | Loans - business
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	52.80%	58.20%
Partially secured (as a percent)	28.20%	28.30%
Unsecured (as a percent)	19.00%	13.50%
Total (as a percentage)	100.00%	100.00%
Past due but not impaired | Loans - business | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	54.70%	60.20%
Partially secured (as a percent)	25.00%	25.70%
Unsecured (as a percent)	20.30%	14.10%
Total (as a percentage)	100.00%	100.00%
Impaired
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	51.80%	40.30%
Partially secured (as a percent)	10.80%	19.10%
Unsecured (as a percent)	37.40%	40.60%
Total (as a percentage)	100.00%	100.00%
Impaired | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	52.20%	43.10%
Partially secured (as a percent)	9.80%	12.40%
Unsecured (as a percent)	38.00%	44.50%
Total (as a percentage)	100.00%	100.00%
Impaired | Loans - housing and personal
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	72.80%	69.50%
Partially secured (as a percent)	10.00%	10.70%
Unsecured (as a percent)	17.20%	19.80%
Total (as a percentage)	100.00%	100.00%
Impaired | Loans - housing and personal | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	76.40%	73.20%
Partially secured (as a percent)	6.50%	6.30%
Unsecured (as a percent)	17.10%	20.50%
Total (as a percentage)	100.00%	100.00%
Impaired | Loans - business
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	32.00%	17.30%
Partially secured (as a percent)	11.50%	25.70%
Unsecured (as a percent)	56.50%	57.00%
Total (as a percentage)	100.00%	100.00%
Impaired | Loans - business | Parent Entity
Loan portfolio, coverage from collateral held
Fully secured (as a percent)	28.50%	19.60%
Partially secured (as a percent)	13.10%	17.10%
Unsecured (as a percent)	58.40%	63.30%
Total (as a percentage)	100.00%	100.00%

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Financial risk - Collateral held against financial assets other than loans (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial assets
Cash primarily for derivatives	$ 2,187	$ 2,480
Securities under reverse repurchase agreement	1,404	6,814
Securities under derivatives and stock borrowing	28	32
Total other collateral held	3,619	9,326
Parent Entity
Financial assets
Cash primarily for derivatives	1,751	2,354
Securities under reverse repurchase agreement	1,404	6,814
Securities under derivatives and stock borrowing	28	32
Total other collateral held	$ 3,183	$ 9,200

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Financial risk - Liquid assets (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Financial assets
Increase (decrease) in liquid assets	$ 15,900.0
Liquidity risk
Financial assets
Liquid assets	153,694.0	$ 137,797.0
Liquidity risk | Cash
Financial assets
Liquid assets	25,476.0	17,339.0
Liquidity risk | Receivables due from other financial institutions
Financial assets
Liquid assets	816.0	834.0
Liquidity risk | Trading securities and financial assets designated at fair value
Financial assets
Liquid assets	10,529.0	11,405.0
Liquidity risk | Available-for-sale securities
Financial assets
Liquid assets	60,667.0	59,735.0
Liquidity risk | Loans
Financial assets
Liquid assets	55,500.0	47,935.0
Liquidity risk | Regulatory deposits with central banks overseas
Financial assets
Liquid assets	706.0	549.0
Average | Liquidity risk
Financial assets
Liquid assets	150,936.0	143,223.0
Average | Liquidity risk | Cash
Financial assets
Liquid assets	21,912.0	20,594.0
Average | Liquidity risk | Receivables due from other financial institutions
Financial assets
Liquid assets	745.0	662.0
Average | Liquidity risk | Trading securities and financial assets designated at fair value
Financial assets
Liquid assets	9,412.0	12,891.0
Average | Liquidity risk | Available-for-sale securities
Financial assets
Liquid assets	62,892.0	59,887.0
Average | Liquidity risk | Loans
Financial assets
Liquid assets	55,336.0	48,561.0
Average | Liquidity risk | Regulatory deposits with central banks overseas
Financial assets
Liquid assets	$ 639.0	$ 628.0

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Financial risk - Funding composition (Details) - AUD ($) $ in Billions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Group's total funding
Customer deposits	63.10%	61.80%
Securitisation	0.90%	1.00%
Equity	7.90%	7.90%
Group's total funding	100.00%	100.00%
Movements in the Group's funding composition
Increase in funding through customer deposits	1.27%
Short term funding portfolio (in AUD)	$ 102.0
Weighted average maturity period for short term funding portfolio	151 days
Unencumbered repo-eligible liquid assets and cash (in AUD)	$ 153.7
Long term wholesale funding raised (in AUD)	32.0
Basel III compliant Additional Tier 1 and Tier 2 capital in long term wholesale funding (in AUD)	$ 3.0
Over 1 Year
Group's total funding
Wholesale term funding with residual maturity	15.70%	15.20%
Movements in the Group's funding composition
Increase (decrease) in funding through wholesale term funding	0.45%
No later than one year
Group's total funding
Wholesale term funding with residual maturity	12.40%	14.10%
Movements in the Group's funding composition
Increase (decrease) in funding through wholesale term funding	1.65%

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Financial risk - Assets pledged as collateral (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Financial assets
Amount pledged to secure liabilities	$ 18,804	$ 25,869
Parent Entity
Financial assets
Amount pledged to secure liabilities	18,740	25,479
Cash
Financial assets
Amount pledged to secure liabilities	4,754	5,687
Cash | Parent Entity
Financial assets
Amount pledged to secure liabilities	4,690	5,315
Cash Deposit on Stock Borrowed
Financial assets
Amount pledged to secure liabilities	14	15
Cash Deposit on Stock Borrowed | Parent Entity
Financial assets
Amount pledged to secure liabilities	14	15
Securities (including certificates of deposit)
Financial assets
Amount pledged to secure liabilities	1,544	1,421
Securities (including certificates of deposit) | Parent Entity
Financial assets
Amount pledged to secure liabilities	1,544	1,421
Securities pledged under repurchase agreements
Financial assets
Amount pledged to secure liabilities	12,492	18,746
Securities pledged under repurchase agreements | Parent Entity
Financial assets
Amount pledged to secure liabilities	$ 12,492	$ 18,728

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Financial risk - Contractual maturity of financial liabilities (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	$ 827,998	$ 797,020
Total undiscounted contingent liabilities and commitments	190,397	194,551
Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	888,094	857,213
Total undiscounted contingent liabilities and commitments	167,999	171,979
Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	398,729	385,272
Total undiscounted contingent liabilities and commitments	190,397	194,551
Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	508,051	495,981
Total undiscounted contingent liabilities and commitments	167,999	171,979
Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	95,891	93,190
Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	84,182	80,251
Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	161,671	154,072
Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	144,293	137,816
Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	123,055	128,525
Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	105,477	109,802
Over 5 Years
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	48,652	35,961
Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	46,091	33,363
Total financial liabilities excluding loan capital
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	806,283	774,871
Total financial liabilities excluding loan capital | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	866,379	835,064
Total financial liabilities excluding loan capital | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	398,721	385,267
Total financial liabilities excluding loan capital | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	508,043	495,976
Total financial liabilities excluding loan capital | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	95,812	93,104
Total financial liabilities excluding loan capital | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	84,103	80,165
Total financial liabilities excluding loan capital | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	161,418	153,343
Total financial liabilities excluding loan capital | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	144,040	137,087
Total financial liabilities excluding loan capital | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	118,189	123,744
Total financial liabilities excluding loan capital | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	100,611	105,021
Total financial liabilities excluding loan capital | Over 5 Years
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	32,143	19,413
Total financial liabilities excluding loan capital | Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted financial liabilities	29,582	16,815
Payables due to other financial institutions
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	18,196	21,971
Payables due to other financial institutions | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	17,741	21,839
Payables due to other financial institutions | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	15,242	16,496
Payables due to other financial institutions | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	14,788	16,364
Payables due to other financial institutions | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,754	4,438
Payables due to other financial institutions | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,753	4,438
Payables due to other financial institutions | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,040	1,014
Payables due to other financial institutions | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,040	1,014
Payables due to other financial institutions | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	160	23
Payables due to other financial institutions | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	160	23
Deposits and other borrowings
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	563,940	537,486
Deposits and other borrowings | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	504,431	480,961
Deposits and other borrowings | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	352,941	337,821
Deposits and other borrowings | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	320,365	306,013
Deposits and other borrowings | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	85,726	76,557
Deposits and other borrowings | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	74,530	65,078
Deposits and other borrowings | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	108,427	102,306
Deposits and other borrowings | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	94,855	91,055
Deposits and other borrowings | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	16,771	20,605
Deposits and other borrowings | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	14,606	18,618
Deposits and other borrowings | Over 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	75	197
Deposits and other borrowings | Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	75	197
Other financial liabilities at fair value through income statement
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,297	4,056
Other financial liabilities at fair value through income statement | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,297	4,038
Other financial liabilities at fair value through income statement | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,197	3,253
Other financial liabilities at fair value through income statement | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,197	3,235
Other financial liabilities at fair value through income statement | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	100	803
Other financial liabilities at fair value through income statement | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	100	803
Derivative financial instruments: Held for trading
Disclosure of financial liabilities [abstract]
Derivative financial instruments	22,869	22,757
Derivative financial instruments: Held for trading | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	23,039	22,791
Derivative financial instruments: Held for trading | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Derivative financial instruments	22,869	22,757
Derivative financial instruments: Held for trading | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	23,039	22,791
Derivative financial instruments: Held for hedging purposes (net settled)
Disclosure of financial liabilities [abstract]
Derivative financial instruments	1,377	1,929
Derivative financial instruments: Held for hedging purposes (net settled) | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	1,081	1,726
Derivative financial instruments: Held for hedging purposes (net settled) | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Derivative financial instruments	68	98
Derivative financial instruments: Held for hedging purposes (net settled) | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	51	83
Derivative financial instruments: Held for hedging purposes (net settled) | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Derivative financial instruments	95	146
Derivative financial instruments: Held for hedging purposes (net settled) | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	55	128
Derivative financial instruments: Held for hedging purposes (net settled) | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Derivative financial instruments	377	489
Derivative financial instruments: Held for hedging purposes (net settled) | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	271	409
Derivative financial instruments: Held for hedging purposes (net settled) | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Derivative financial instruments	741	1,088
Derivative financial instruments: Held for hedging purposes (net settled) | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	608	1,000
Derivative financial instruments: Held for hedging purposes (net settled) | Over 5 Years
Disclosure of financial liabilities [abstract]
Derivative financial instruments	96	108
Derivative financial instruments: Held for hedging purposes (net settled) | Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments	96	106
Derivative financial instruments: Held for hedging purposes (gross settled)
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	12,283	12,946
Derivative financial instruments: Cash inflow	(11,796)	(11,212)
Derivative financial instruments: Held for hedging purposes (gross settled) | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	10,634	7,850
Derivative financial instruments: Cash inflow	(10,313)	(6,969)
Derivative financial instruments: Held for hedging purposes (gross settled) | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	2,680	865
Derivative financial instruments: Cash inflow	(2,658)	(737)
Derivative financial instruments: Held for hedging purposes (gross settled) | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	2,632	11
Derivative financial instruments: Cash inflow	(2,615)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	5,140	3,368
Derivative financial instruments: Cash inflow	(5,096)	(3,275)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	4,725	2,929
Derivative financial instruments: Cash inflow	(4,687)	(2,861)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	406	1,039
Derivative financial instruments: Cash inflow	(337)	(821)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	377	820
Derivative financial instruments: Cash inflow	(324)	(680)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	2,799	5,617
Derivative financial instruments: Cash inflow	(2,527)	(4,634)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	2,174	2,796
Derivative financial instruments: Cash inflow	(2,043)	(2,376)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 5 Years
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	1,258	2,057
Derivative financial instruments: Cash inflow	(1,178)	(1,745)
Derivative financial instruments: Held for hedging purposes (gross settled) | Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Derivative financial instruments: Cash outflow	726	1,294
Derivative financial instruments: Cash inflow	(644)	(1,052)
Debt issues
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	190,230	180,174
Debt issues | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	168,667	154,542
Debt issues | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,743	3,111
Debt issues | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,588	2,069
Debt issues | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	7,502	10,492
Debt issues | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	7,117	9,127
Debt issues | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	48,848	46,730
Debt issues | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	45,527	42,116
Debt issues | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	100,245	101,045
Debt issues | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	85,106	84,960
Debt issues | Over 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	31,892	18,796
Debt issues | Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	29,329	16,270
Due to subsidiaries | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	142,400	143,834
Due to subsidiaries | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	142,400	143,834
Other financial liabilities
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,887	4,764
Other financial liabilities | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,402	4,452
Other financial liabilities | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,639	1,603
Other financial liabilities | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	1,598	1,576
Other financial liabilities | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	591	575
Other financial liabilities | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	510	523
Other financial liabilities | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	2,657	2,586
Other financial liabilities | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	2,294	2,353
Loan capital
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	21,715	22,149
Loan capital | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	21,715	22,149
Loan capital | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	8	5
Loan capital | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	8	5
Loan capital | Over 1 Month to 3 Months
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	79	86
Loan capital | Over 1 Month to 3 Months | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	79	86
Loan capital | Over 3 Months to 1 Year
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	253	729
Loan capital | Over 3 Months to 1 Year | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	253	729
Loan capital | Over 1 Year to 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,866	4,781
Loan capital | Over 1 Year to 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	4,866	4,781
Loan capital | Over 5 Years
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	16,509	16,548
Loan capital | Over 5 Years | Parent Entity
Disclosure of financial liabilities [abstract]
Non-derivative financial instruments:	16,509	16,548
Letters of credit and guarantees
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	15,585	15,460
Letters of credit and guarantees | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	14,957	14,908
Letters of credit and guarantees | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	15,585	15,460
Letters of credit and guarantees | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	14,957	14,908
Commitments to extend credit
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	174,658	178,443
Commitments to extend credit | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	152,943	156,423
Commitments to extend credit | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	174,658	178,443
Commitments to extend credit | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	152,943	156,423
Other commitments
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	154	648
Other commitments | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	99	648
Other commitments | Less than or Up to 1 Month
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	154	648
Other commitments | Less than or Up to 1 Month | Parent Entity
Disclosure of financial liabilities [abstract]
Total undiscounted contingent liabilities and commitments	$ 99	$ 648

XML

Financial risk - Expected maturity of financial assets and financial liabilities (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Assets
Cash and balances with central banks	$ 26,431	$ 18,397
Receivables due from other financial institutions	5,790	7,128
Trading securities and financial assets designated at fair value	22,134	25,324	$ 21,168
Derivative financial instruments	24,101	24,033
Available-for-sale securities	61,119	60,710	60,665
Loans (net of provisions)	709,690	684,919	661,926	$ 623,316	$ 580,343
Life insurance assets	9,450	10,643
Regulatory deposits with central banks overseas	1,355	1,048
Investments in associates	115	60
All other assets	19,407	19,613
Total assets	879,592	851,875	839,202
Liabilities [abstract]
Payables due to other financial institutions	18,137	21,907
Deposits and other borrowings	559,285	533,591
Other financial liabilities at fair value through income statement	4,297	4,056
Derivative financial instruments	24,407	25,375
Debt issues	172,596	168,356
Life insurance liabilities	7,597	9,019	12,361
All other liabilities	11,435	10,563
Total liabilities excluding loan capital	797,754	772,867
Loan capital	17,265	17,666
Total liabilities	815,019	790,533	$ 781,021
Net assets/(net liabilities)	64,573	61,342
Parent Entity
Assets
Cash and balances with central banks	24,726	16,405
Receivables due from other financial institutions	5,711	6,357
Trading securities and financial assets designated at fair value	20,417	22,946
Derivative financial instruments	23,562	23,823
Available-for-sale securities	56,513	55,800
Loans (net of provisions)	630,168	606,237
Life insurance assets	0	0
Regulatory deposits with central banks overseas	1,248	945
Due from subsidiaries	140,597	142,455
Investments in associates	76	46
Investment in subsidiaries	4,508	3,975
All other assets	15,704	15,880
Total assets	923,230	894,869
Liabilities [abstract]
Payables due to other financial institutions	17,682	21,775
Deposits and other borrowings	500,468	477,693
Other financial liabilities at fair value through income statement	4,297	4,038
Derivative financial instruments	24,229	24,911
Debt issues	152,288	144,116
Due to subsidiaries	142,400	143,834
Life insurance liabilities	0	0
All other liabilities	9,245	8,655
Total liabilities excluding loan capital	850,609	825,022
Loan capital	17,265	17,666
Total liabilities	867,874	842,688
Net assets/(net liabilities)	55,356	52,181
No later than one year
Assets
Cash and balances with central banks	26,431	18,397
Receivables due from other financial institutions	5,790	7,128
Trading securities and financial assets designated at fair value	11,869	11,258
Derivative financial instruments	17,828	18,346
Available-for-sale securities	6,959	7,988
Loans (net of provisions)	94,717	88,676
Life insurance assets	1,598	1,514
Regulatory deposits with central banks overseas	679	676
All other assets	5,522	5,681
Total assets	171,393	159,664
Liabilities [abstract]
Payables due to other financial institutions	17,988	21,885
Deposits and other borrowings	543,198	512,856
Other financial liabilities at fair value through income statement	4,297	4,056
Derivative financial instruments	17,346	18,435
Debt issues	53,930	56,952
Life insurance liabilities	1,547	1,457
All other liabilities	10,667	9,907
Total liabilities excluding loan capital	648,973	625,548
Loan capital	1,382	1,641
Total liabilities	650,355	627,189
Net assets/(net liabilities)	(478,962)	(467,525)
No later than one year | Parent Entity
Assets
Cash and balances with central banks	24,726	16,405
Receivables due from other financial institutions	5,711	6,357
Trading securities and financial assets designated at fair value	11,145	9,812
Derivative financial instruments	17,677	18,340
Available-for-sale securities	4,846	6,447
Loans (net of provisions)	76,389	70,868
Regulatory deposits with central banks overseas	571	573
Due from subsidiaries	140,597	142,455
All other assets	4,358	4,649
Total assets	286,020	275,906
Liabilities [abstract]
Payables due to other financial institutions	17,533	21,753
Deposits and other borrowings	486,418	458,829
Other financial liabilities at fair value through income statement	4,297	4,038
Derivative financial instruments	17,317	18,321
Debt issues	50,499	50,415
Due to subsidiaries	142,400	143,834
All other liabilities	8,569	8,060
Total liabilities excluding loan capital	727,033	705,250
Loan capital	1,382	1,641
Total liabilities	728,415	706,891
Net assets/(net liabilities)	(442,395)	(430,985)
Over 1 Year
Assets
Trading securities and financial assets designated at fair value	10,265	14,066
Derivative financial instruments	6,273	5,687
Available-for-sale securities	54,160	52,722
Loans (net of provisions)	614,973	596,243
Life insurance assets	7,852	9,129
Regulatory deposits with central banks overseas	676	372
Investments in associates	115	60
All other assets	13,885	13,932
Total assets	708,199	692,211
Liabilities [abstract]
Payables due to other financial institutions	149	22
Deposits and other borrowings	16,087	20,735
Derivative financial instruments	7,061	6,940
Debt issues	118,666	111,404
Life insurance liabilities	6,050	7,562
All other liabilities	768	656
Total liabilities excluding loan capital	148,781	147,319
Loan capital	15,883	16,025
Total liabilities	164,664	163,344
Net assets/(net liabilities)	543,535	528,867
Over 1 Year | Parent Entity
Assets
Trading securities and financial assets designated at fair value	9,272	13,134
Derivative financial instruments	5,885	5,483
Available-for-sale securities	51,667	49,353
Loans (net of provisions)	553,779	535,369
Regulatory deposits with central banks overseas	677	372
Investments in associates	76	46
Investment in subsidiaries	4,508	3,975
All other assets	11,346	11,231
Total assets	637,210	618,963
Liabilities [abstract]
Payables due to other financial institutions	149	22
Deposits and other borrowings	14,050	18,864
Derivative financial instruments	6,912	6,590
Debt issues	101,789	93,701
All other liabilities	676	595
Total liabilities excluding loan capital	123,576	119,772
Loan capital	15,883	16,025
Total liabilities	139,459	135,797
Net assets/(net liabilities)	$ 497,751	$ 483,166

XML

Financial risk - Value-at-Risk (Details)	12 Months Ended
	Sep. 30, 2018
Key parameters of VaR
Holding period	1 day
Confidence level	99.00%
Period of historical data used	1 year

XML

Financial risk - Traded market risk (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net market risk | Maximum
Traded market risk
Value at risk	$ 28.1	$ 22.9	$ 18.7
Net market risk | Minimum
Traded market risk
Value at risk	6.7	9.7	7.7
Net market risk | Average
Traded market risk
Value at risk	13.4	13.9	12.5
Interest rate risk | Maximum
Traded market risk
Value at risk	15.6	16.0	14.0
Interest rate risk | Minimum
Traded market risk
Value at risk	5.1	4.6	4.6
Interest rate risk | Average
Traded market risk
Value at risk	8.6	8.5	8.8
Foreign exchange risk | Maximum
Traded market risk
Value at risk	6.9	9.4	12.2
Foreign exchange risk | Minimum
Traded market risk
Value at risk	0.7	0.6	1.4
Foreign exchange risk | Average
Traded market risk
Value at risk	3.0	3.1	5.1
Equity risk | Maximum
Traded market risk
Value at risk	1.0	0.4	2.9
Equity risk | Minimum
Traded market risk
Value at risk	0.0	0.0	0.1
Equity risk | Average
Traded market risk
Value at risk	0.1	0.1	0.3
Commodity risk | Maximum
Traded market risk
Value at risk	24.3	14.1	4.5
Commodity risk | Minimum
Traded market risk
Value at risk	1.7	3.3	1.4
Commodity risk | Average
Traded market risk
Value at risk	6.5	6.6	2.7
Other market risks | Maximum
Traded market risk
Value at risk	5.8	5.1	6.0
Other market risks | Minimum
Traded market risk
Value at risk	1.4	3.5	2.6
Other market risks | Average
Traded market risk
Value at risk	3.8	4.2	3.6
Diversification effect | Average
Traded market risk
Value at risk	$ (8.6)	$ (8.6)	$ (8.0)

XML

Financial risk - Non-traded market risk (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Non-traded market risk
Time horizon for modelling of interest rate scenarios	3 years
Confidence level	99.00%
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	0.01%	0.62%
Value at Risk - IRRBB
Value at Risk - IRBBB	$ 23.2	$ 57.3
Parent Entity
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	(0.22%)	0.34%
Value at Risk - IRRBB
Value at Risk - IRBBB	$ 20.8	$ 56.9
Maximum
Non-traded market risk
Variance from current market yield used in modelling interest rate scenarios	2.00%
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	0.78%	0.62%
Value at Risk - IRRBB
Value at Risk - IRBBB	$ 57.0	$ 57.3
Maximum | Parent Entity
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	0.51%	0.34%
Minimum
Non-traded market risk
Variance from current market yield used in modelling interest rate scenarios	1.00%
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	(0.09%)	(0.01%)
Value at Risk - IRRBB
Value at Risk - IRBBB	$ 23.2	$ 27.0
Minimum | Parent Entity
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	(0.28%)	(0.33%)
Average
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	0.27%	0.31%
Value at Risk - IRRBB
Value at Risk - IRBBB	$ 32.5	$ 40.8
Average | Parent Entity
Net interest income-at-risk (NaR)
Percentage NaR over reported net interest income	0.04%	0.05%

XML

Fair values of financial assets and financial liabilities (Details) - Recurring - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	$ 121,052	$ 125,956
Financial liabilities measured at fair value on a recurring basis	80,834	89,692
Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	22,319	16,844
Financial liabilities measured at fair value on a recurring basis	572	216
Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	97,769	107,713
Financial liabilities measured at fair value on a recurring basis	80,256	89,467
Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	964	1,399
Financial liabilities measured at fair value on a recurring basis	6	9
Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	41,178	46,569
Deposits and other borrowings | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	41,178	46,569
Other financial liabilities at fair value through income statement
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	4,297	4,056
Other financial liabilities at fair value through income statement | Level 1
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	496	208
Other financial liabilities at fair value through income statement | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	3,801	3,848
Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	24,407	25,375
Derivative financial instruments | Level 1
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	76	8
Derivative financial instruments | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	24,325	25,358
Derivative financial instruments | Level 3
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	6	9
Debt issues
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	3,355	4,673
Debt issues | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	3,355	4,673
Life insurance liabilities
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	7,597	9,019
Life insurance liabilities | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	7,597	9,019
Trading securities and financial assets designated at fair value
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	22,134	25,324
Trading securities and financial assets designated at fair value | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	8,958	6,815
Trading securities and financial assets designated at fair value | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	12,846	17,742
Trading securities and financial assets designated at fair value | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	330	767
Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	24,101	24,033
Derivative financial instruments | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	20	9
Derivative financial instruments | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	24,066	24,009
Derivative financial instruments | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	15	15
Available-for-sale securities
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	61,119	60,710
Available-for-sale securities | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	11,996	7,252
Available-for-sale securities | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	48,504	52,841
Available-for-sale securities | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	619	617
Loans
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	3,250	4,587
Loans | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	3,250	4,587
Life insurance assets
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	9,450	10,643
Life insurance assets | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	1,345	2,768
Life insurance assets | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	8,105	7,875
Regulatory deposits with central banks overseas
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	998	659
Regulatory deposits with central banks overseas | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	998	659
Parent Entity
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	104,740	107,815
Financial liabilities measured at fair value on a recurring basis	71,811	77,912
Parent Entity | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	19,629	12,286
Financial liabilities measured at fair value on a recurring basis	572	216
Parent Entity | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	84,822	94,949
Financial liabilities measured at fair value on a recurring basis	71,233	77,687
Parent Entity | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	289	580
Financial liabilities measured at fair value on a recurring basis	6	9
Parent Entity | Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	40,062	46,023
Parent Entity | Deposits and other borrowings | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	40,062	46,023
Parent Entity | Other financial liabilities at fair value through income statement
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	4,297	4,038
Parent Entity | Other financial liabilities at fair value through income statement | Level 1
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	496	208
Parent Entity | Other financial liabilities at fair value through income statement | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	3,801	3,830
Parent Entity | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	24,229	24,911
Parent Entity | Derivative financial instruments | Level 1
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	76	8
Parent Entity | Derivative financial instruments | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	24,147	24,894
Parent Entity | Derivative financial instruments | Level 3
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	6	9
Parent Entity | Debt issues
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	3,223	2,940
Parent Entity | Debt issues | Level 2
Fair values of financial assets and financial liabilities
Financial liabilities measured at fair value on a recurring basis	3,223	2,940
Parent Entity | Trading securities and financial assets designated at fair value
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	20,417	22,946
Parent Entity | Trading securities and financial assets designated at fair value | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	8,952	6,797
Parent Entity | Trading securities and financial assets designated at fair value | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	11,259	15,648
Parent Entity | Trading securities and financial assets designated at fair value | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	206	501
Parent Entity | Derivative financial instruments
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	23,562	23,823
Parent Entity | Derivative financial instruments | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	20	9
Parent Entity | Derivative financial instruments | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	23,529	23,799
Parent Entity | Derivative financial instruments | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	13	15
Parent Entity | Available-for-sale securities
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	56,513	55,800
Parent Entity | Available-for-sale securities | Level 1
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	10,657	5,480
Parent Entity | Available-for-sale securities | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	45,786	50,256
Parent Entity | Available-for-sale securities | Level 3
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	70	64
Parent Entity | Loans
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	3,250	4,587
Parent Entity | Loans | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	3,250	4,587
Parent Entity | Regulatory deposits with central banks overseas
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	998	659
Parent Entity | Regulatory deposits with central banks overseas | Level 2
Fair values of financial assets and financial liabilities
Financial assets measured at fair value on a recurring basis	$ 998	$ 659

XML

Fair values of financial assets and financial liabilities - Non-market observable valuation techniques Level 3 (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Day one profit or loss
Closing balance of unrecognised day one profit	$ 4	$ 5
Parent Entity
Day one profit or loss
Closing balance of unrecognised day one profit	4	5
At fair value | Level 3
Total Level 3 Assets
Balance as at beginning of year	1,399	1,587
Income statements	3	(34)
Available-for-sale reserve	(7)	4
Acquisition and issues	1,516	1,699
Disposal and settlements	(1,893)	(1,820)
Transfer into or out of non-market observables	(75)	(2)
Foreign currency translation impacts	21	(35)
Balance as at end of year	964	1,399
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(3)	(31)
Total Level 3 Liabilities
Balance as at beginning of year	9	17
Income statements	1	(3)
Acquisition and issues	1	6
Disposal and settlements	(5)	(9)
Transfer into or out of non-market observables		(2)
Balance as at end of year	6	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(2)	(3)
At fair value | Level 3 | Parent Entity
Total Level 3 Assets
Balance as at beginning of year	580	682
Income statements	7	1
Available-for-sale reserve	2
Acquisition and issues	42	51
Disposal and settlements	(288)	(135)
Transfer into or out of non-market observables	(53)	(2)
Foreign currency translation impacts	(1)	(17)
Balance as at end of year	289	580
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	9	(1)
Total Level 3 Liabilities
Balance as at beginning of year	9	17
Income statements	1	(3)
Acquisition and issues	1	6
Disposal and settlements	(5)	(9)
Transfer into or out of non-market observables		(2)
Balance as at end of year	6	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(2)	(3)
At fair value | Level 3 | Derivative financial instruments
Total Level 3 Liabilities
Balance as at beginning of year	9	17
Income statements	1	(3)
Acquisition and issues	1	6
Disposal and settlements	(5)	(9)
Transfer into or out of non-market observables		(2)
Balance as at end of year	6	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(2)	(3)
At fair value | Level 3 | Derivative financial instruments | Parent Entity
Total Level 3 Liabilities
Balance as at beginning of year	9	17
Income statements	1	(3)
Acquisition and issues	1	6
Disposal and settlements	(5)	(9)
Transfer into or out of non-market observables		(2)
Balance as at end of year	6	9
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(2)	(3)
At fair value | Level 3 | Trading securities and financial assets designated at fair value
Total Level 3 Assets
Balance as at beginning of year	767	840
Income statements	2	(26)
Acquisition and issues	67	122
Disposal and settlements	(433)	(162)
Transfer into or out of non-market observables	(75)	10
Foreign currency translation impacts	2	(17)
Balance as at end of year	330	767
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	(7)	(29)
At fair value | Level 3 | Trading securities and financial assets designated at fair value | Parent Entity
Total Level 3 Assets
Balance as at beginning of year	501	590
Income statements	6	8
Acquisition and issues	21	32
Disposal and settlements	(268)	(122)
Transfer into or out of non-market observables	(53)	10
Foreign currency translation impacts	(1)	(17)
Balance as at end of year	206	501
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	5	1
At fair value | Level 3 | Derivative financial instruments
Total Level 3 Assets
Balance as at beginning of year	15	43
Income statements	1	(8)
Acquisition and issues	3	5
Disposal and settlements	(4)	(13)
Transfer into or out of non-market observables		(12)
Balance as at end of year	15	15
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	4	(2)
At fair value | Level 3 | Derivative financial instruments | Parent Entity
Total Level 3 Assets
Balance as at beginning of year	15	42
Income statements	1	(7)
Acquisition and issues	3	5
Disposal and settlements	(6)	(13)
Transfer into or out of non-market observables		(12)
Balance as at end of year	13	15
Unrealised gains/(losses) recognised in the income statements for financial instruments held as at 30 September 2017	4	(2)
At fair value | Level 3 | Available-for-sale securities
Total Level 3 Assets
Balance as at beginning of year	617	704
Available-for-sale reserve	(7)	4
Acquisition and issues	1,446	1,572
Disposal and settlements	(1,456)	(1,645)
Foreign currency translation impacts	19	(18)
Balance as at end of year	619	617
At fair value | Level 3 | Available-for-sale securities | Parent Entity
Total Level 3 Assets
Balance as at beginning of year	64	50
Available-for-sale reserve	2
Acquisition and issues	18	14
Disposal and settlements	(14)
Balance as at end of year	$ 70	$ 64

XML

Fair values of financial assets and financial liabilities - Not measured at fair value (Details) - Not measured at fair value - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	$ 743,532	$ 711,000
Financial liabilities, Carrying Amount	730,605	697,768
Financial assets, Fair Value	743,834	711,236
Financial Liabilities, Fair Value	732,281	700,358
Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	801,879	771,153
Financial liabilities, Carrying Amount	793,853	762,989
Financial assets, Fair Value	802,031	771,287
Financial Liabilities, Fair Value	795,409	765,367
Payables due to other financial institutions
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	18,137	21,907
Financial Liabilities, Fair Value	18,137	21,907
Payables due to other financial institutions | Parent Entity
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	17,682	21,775
Financial Liabilities, Fair Value	17,682	21,775
Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	518,107	487,022
Financial Liabilities, Fair Value	518,791	487,723
Deposits and other borrowings | Parent Entity
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	460,406	431,670
Financial Liabilities, Fair Value	461,054	432,329
Debt issues
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	169,241	163,683
Financial Liabilities, Fair Value	170,060	165,151
Debt issues | Parent Entity
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	149,065	141,176
Financial Liabilities, Fair Value	149,800	142,474
Due to subsidiaries | Parent Entity
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	142,400	143,834
Financial Liabilities, Fair Value	142,400	143,834
Loan capital
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	17,265	17,666
Financial Liabilities, Fair Value	17,438	18,087
Loan capital | Parent Entity
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	17,265	17,666
Financial Liabilities, Fair Value	17,438	18,087
Other financial liabilities
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	7,855	7,490
Financial Liabilities, Fair Value	7,855	7,490
Other financial liabilities | Parent Entity
Fair values of financial assets and financial liabilities
Financial liabilities, Carrying Amount	7,035	6,868
Financial Liabilities, Fair Value	7,035	6,868
Cash and balances with central banks
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	26,431	18,397
Financial assets, Fair Value	26,431	18,397
Cash and balances with central banks | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	24,726	16,405
Financial assets, Fair Value	24,726	16,405
Receivables due from other financial institutions
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	5,790	7,128
Financial assets, Fair Value	5,790	7,128
Receivables due from other financial institutions | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	5,711	6,357
Financial assets, Fair Value	5,711	6,357
Loans
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	706,440	680,332
Financial assets, Fair Value	706,742	680,568
Loans | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	626,918	601,650
Financial assets, Fair Value	627,070	601,784
Regulatory deposits with central banks overseas
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	357	389
Financial assets, Fair Value	357	389
Regulatory deposits with central banks overseas | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	250	286
Financial assets, Fair Value	250	286
Due from subsidiaries | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	140,597	142,455
Financial assets, Fair Value	140,597	142,455
Other financial assets
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	4,514	4,754
Financial assets, Fair Value	4,514	4,754
Other financial assets | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Carrying Amount	3,677	4,000
Financial assets, Fair Value	3,677	4,000
Level 1
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	31,120	23,620
Financial Liabilities, Fair Value	2,171	2,429
Level 1 | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	29,243	21,153
Financial Liabilities, Fair Value	1,735	2,304
Level 1 | Payables due to other financial institutions
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	2,171	2,429
Level 1 | Payables due to other financial institutions | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	1,735	2,304
Level 1 | Cash and balances with central banks
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	26,431	18,397
Level 1 | Cash and balances with central banks | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	24,726	16,405
Level 1 | Receivables due from other financial institutions
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	4,332	4,834
Level 1 | Receivables due from other financial institutions | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	4,267	4,462
Level 1 | Regulatory deposits with central banks overseas
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	357	389
Level 1 | Regulatory deposits with central banks overseas | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	250	286
Level 2
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	5,972	6,656
Financial Liabilities, Fair Value	727,272	695,135
Level 2 | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	5,121	5,895
Financial Liabilities, Fair Value	650,061	618,013
Level 2 | Payables due to other financial institutions
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	15,966	19,478
Level 2 | Payables due to other financial institutions | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	15,947	19,471
Level 2 | Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	515,953	484,929
Level 2 | Deposits and other borrowings | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	459,841	431,113
Level 2 | Debt issues
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	170,060	165,151
Level 2 | Debt issues | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	149,800	142,474
Level 2 | Loan capital
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	17,438	18,087
Level 2 | Loan capital | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	17,438	18,087
Level 2 | Other financial liabilities
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	7,855	7,490
Level 2 | Other financial liabilities | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	7,035	6,868
Level 2 | Receivables due from other financial institutions
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	1,458	1,902
Level 2 | Receivables due from other financial institutions | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	1,444	1,895
Level 2 | Other financial assets
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	4,514	4,754
Level 2 | Other financial assets | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	3,677	4,000
Level 3
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	706,742	680,960
Financial Liabilities, Fair Value	2,838	2,794
Level 3 | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	767,667	744,239
Financial Liabilities, Fair Value	143,613	145,050
Level 3 | Deposits and other borrowings
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	2,838	2,794
Level 3 | Deposits and other borrowings | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	1,213	1,216
Level 3 | Due to subsidiaries | Parent Entity
Fair values of financial assets and financial liabilities
Financial Liabilities, Fair Value	142,400	143,834
Level 3 | Receivables due from other financial institutions
Fair values of financial assets and financial liabilities
Financial assets, Fair Value		392
Level 3 | Loans
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	706,742	680,568
Level 3 | Loans | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	627,070	601,784
Level 3 | Due from subsidiaries | Parent Entity
Fair values of financial assets and financial liabilities
Financial assets, Fair Value	$ 140,597	$ 142,455

XML

Offsetting financial assets and financial liabilities (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Effects of Offsetting on Balance Sheet
Gross Amounts	$ 46,983	$ 56,847
Amounts Offset	(21,309)	(25,193)
Net Amounts Reported on the Balance Sheet	25,674	31,654
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,962)	(16,707)
Cash Collateral	(2,187)	(2,480)
Financial Instrument Collateral	(1,404)	(6,846)
Net Amount	6,121	5,621
Effects of Offsetting on Balance Sheet
Gross Amounts	67,304	68,964
Amounts Offset	(21,309)	(25,193)
Net Amounts Reported on the Balance Sheet	45,995	43,771
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,962)	(16,707)
Cash Collateral	(4,487)	(5,554)
Financial Instrument Collateral	(11,066)	(14,379)
Net Amount	14,480	7,131
Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	46,444	56,637
Amounts Offset	(21,309)	(25,193)
Net Amounts Reported on the Balance Sheet	25,135	31,444
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,862)	(16,552)
Cash Collateral	(1,751)	(2,354)
Financial Instrument Collateral	(1,404)	(6,846)
Net Amount	6,118	5,692
Effects of Offsetting on Balance Sheet
Gross Amounts	67,126	68,482
Amounts Offset	(21,309)	(25,193)
Net Amounts Reported on the Balance Sheet	45,817	43,289
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,862)	(16,522)
Cash Collateral	(4,423)	(5,181)
Financial Instrument Collateral	(11,066)	(14,361)
Net Amount	14,466	7,225
Derivative financial instruments
Effects of Offsetting on Balance Sheet
Gross Amounts	37,296	34,642
Amounts Offset	(12,889)	(9,267)
Net Amounts Reported on the Balance Sheet	24,407	25,375
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,962)	(16,707)
Cash Collateral	(4,487)	(5,552)
Financial Instrument Collateral	(1,544)	(1,421)
Net Amount	2,414	1,695
Derivative financial instruments | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	37,118	34,178
Amounts Offset	(12,889)	(9,267)
Net Amounts Reported on the Balance Sheet	24,229	24,911
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,862)	(16,522)
Cash Collateral	(4,423)	(5,179)
Financial Instrument Collateral	(1,544)	(1,421)
Net Amount	2,400	1,789
Security repurchase agreements
Effects of Offsetting on Balance Sheet
Gross Amounts	9,522	12,960
Net Amounts Reported on the Balance Sheet	9,522	12,960
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Cash Collateral		(2)
Financial Instrument Collateral	(9,522)	(12,958)
Security repurchase agreements | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	9,522	12,942
Net Amounts Reported on the Balance Sheet	9,522	12,942
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Cash Collateral		(2)
Financial Instrument Collateral	(9,522)	(12,940)
Deposits and other borrowings
Effects of Offsetting on Balance Sheet
Gross Amounts	20,486	21,349
Amounts Offset	(8,420)	(15,925)
Net Amounts Reported on the Balance Sheet	12,066	5,424
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount	12,066	5,424
Deposits and other borrowings | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	20,486	21,349
Amounts Offset	(8,420)	(15,925)
Net Amounts Reported on the Balance Sheet	12,066	5,424
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount	12,066	5,424
Other financial liabilities
Effects of Offsetting on Balance Sheet
Gross Amounts		13
Amounts Offset		(1)
Net Amounts Reported on the Balance Sheet		12
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount		12
Other financial liabilities | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts		13
Amounts Offset		(1)
Net Amounts Reported on the Balance Sheet		12
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount		12
Receivables due from other financial institutions
Effects of Offsetting on Balance Sheet
Gross Amounts	14	15
Net Amounts Reported on the Balance Sheet	14	15
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Financial Instrument Collateral	(14)	(14)
Net Amount		1
Receivables due from other financial institutions | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	14	15
Net Amounts Reported on the Balance Sheet	14	15
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Financial Instrument Collateral	(14)	(14)
Net Amount		1
Derivative financial instruments
Effects of Offsetting on Balance Sheet
Gross Amounts	32,828	31,686
Amounts Offset	(8,727)	(7,653)
Net Amounts Reported on the Balance Sheet	24,101	24,033
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,962)	(16,707)
Cash Collateral	(2,184)	(2,438)
Financial Instrument Collateral	(14)	(18)
Net Amount	5,941	4,870
Derivative financial instruments | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	32,289	31,476
Amounts Offset	(8,727)	(7,653)
Net Amounts Reported on the Balance Sheet	23,562	23,823
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Other Recognised Financial Instruments	(15,862)	(16,552)
Cash Collateral	(1,748)	(2,312)
Financial Instrument Collateral	(14)	(18)
Net Amount	5,938	4,941
Securities purchased under agreement to resell
Effects of Offsetting on Balance Sheet
Gross Amounts	1,379	6,887
Net Amounts Reported on the Balance Sheet	1,379	6,887
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Cash Collateral	(3)	(42)
Financial Instrument Collateral	(1,376)	(6,814)
Net Amount		31
Securities purchased under agreement to resell | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	1,379	6,887
Net Amounts Reported on the Balance Sheet	1,379	6,887
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Cash Collateral	(3)	(42)
Financial Instrument Collateral	(1,376)	(6,814)
Net Amount		31
Loans
Effects of Offsetting on Balance Sheet
Gross Amounts	8,519	15,990
Amounts Offset	(8,420)	(15,925)
Net Amounts Reported on the Balance Sheet	99	65
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount	99	65
Loans | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	8,519	15,990
Amounts Offset	(8,420)	(15,925)
Net Amounts Reported on the Balance Sheet	99	65
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount	99	65
Other financial assets
Effects of Offsetting on Balance Sheet
Gross Amounts	4,243	2,269
Amounts Offset	(4,162)	(1,615)
Net Amounts Reported on the Balance Sheet	81	654
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount	81	654
Other financial assets | Parent Entity
Effects of Offsetting on Balance Sheet
Gross Amounts	4,243	2,269
Amounts Offset	(4,162)	(1,615)
Net Amounts Reported on the Balance Sheet	81	654
Amounts Subject to Enforceable Netting Arrangements But Not Offset
Net Amount	$ 81	$ 654

XML

Securitisation, covered bonds and other transferred assets (Details) $ in Millions	Sep. 30, 2018 AUD ($) item	Sep. 30, 2017 AUD ($)
Securitisation, covered bonds and other transferred assets
Carrying amount of transferred assets	$ 63,211	$ 69,117
Carrying amount of associated liabilities	52,544	55,685
Fair value of transferred assets	7,662	8,282
Fair value of associated liabilities	7,565	8,223
Net fair value position	97	59
Securitisation - own assets
Securitisation, covered bonds and other transferred assets
Undrawn funding and liquidity facilities	517	511
Carrying amount of transferred assets	7,631	8,249
Carrying amount of associated liabilities	7,588	8,209
Fair value of transferred assets	7,662	8,282
Fair value of associated liabilities	7,565	8,223
Net fair value position	97	59
Customer conduits
Securitisation, covered bonds and other transferred assets
Undrawn funding and liquidity facilities	$ 0	392
Covered bonds
Securitisation, covered bonds and other transferred assets
Number of covered bond programs | item	2
Carrying amount of transferred assets	$ 43,088	42,122
Carrying amount of associated liabilities	35,434	34,516
Repurchase agreements
Securitisation, covered bonds and other transferred assets
Carrying amount of transferred assets	12,492	18,746
Carrying amount of associated liabilities	9,522	12,960
Parent Entity
Securitisation, covered bonds and other transferred assets
Carrying amount of transferred assets	145,941	152,298
Carrying amount of associated liabilities	136,518	140,512
Fair value of transferred assets	97,291	98,434
Fair value of associated liabilities	96,473	96,478
Net fair value position	818	1,956
Parent Entity | Securitisation - own assets
Securitisation, covered bonds and other transferred assets
Carrying amount of transferred assets	97,259	98,368
Carrying amount of associated liabilities	96,728	97,872
Fair value of transferred assets	97,291	98,434
Fair value of associated liabilities	96,473	96,478
Net fair value position	818	1,956
Parent Entity | Covered bonds
Securitisation, covered bonds and other transferred assets
Carrying amount of transferred assets	36,190	35,202
Carrying amount of associated liabilities	30,268	29,698
Parent Entity | Repurchase agreements
Securitisation, covered bonds and other transferred assets
Carrying amount of transferred assets	12,492	18,728
Carrying amount of associated liabilities	$ 9,522	$ 12,942

XML

Intangible assets - Useful life (Details)	12 Months Ended
	Sep. 30, 2018
Core deposit intangibles
Intangible assets
Useful life (in years)	9 years
Minimum | Computer software
Intangible assets
Useful life (in years)	3 years
Maximum | Computer software
Intangible assets
Useful life (in years)	10 years

XML

Intangible assets - Changes in intangible assets and goodwill (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Goodwill
Goodwill, opening balance	$ 9,012	$ 9,030
Disposals	(15)
Impairment	(105)
Other adjustments	(2)	(18)
Goodwill, closing balance	8,890	9,012
Total intangible assets
Total intangible assets	11,763	11,652
Parent Entity
Goodwill
Goodwill, opening balance	6,844	6,844
Goodwill, closing balance	6,844	6,844
Total intangible assets
Total intangible assets	9,494	9,259
Computer software
Intangible assets other than goodwill
Intangible assets, opening balance	1,916	1,781
Additions	882	766
Impairment	(2)	(14)
Amortisation	(618)	(614)
Other adjustments	(1)	(3)
Intangible assets, closing balance	2,177	1,916
Computer software | Parent Entity
Intangible assets other than goodwill
Intangible assets, opening balance	1,758	1,635
Additions	823	692
Impairment	(2)	(14)
Amortisation	(565)	(558)
Other adjustments		3
Intangible assets, closing balance	2,014	1,758
Brand Names
Intangible assets other than goodwill
Intangible assets, opening balance	670	670
Intangible assets, closing balance	670	670
Brand Names | Parent Entity
Intangible assets other than goodwill
Intangible assets, opening balance	636	636
Intangible assets, closing balance	636	636
Core deposit intangibles
Intangible assets other than goodwill
Intangible assets, opening balance	21	187
Amortisation	(21)	(166)
Intangible assets, closing balance		21
Core deposit intangibles | Parent Entity
Intangible assets other than goodwill
Intangible assets, opening balance	21	187
Amortisation	(21)	(166)
Intangible assets, closing balance		21
Other intangibles
Intangible assets other than goodwill
Intangible assets, opening balance	33	53
Amortisation	(7)	(20)
Intangible assets, closing balance	$ 26	33
Other intangibles | Parent Entity
Intangible assets other than goodwill
Intangible assets, opening balance		3
Amortisation		$ (3)

XML

Intangible assets - Cost and accumulated amortisation and impairment (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Intangible assets
Goodwill derecognised due to sale	$ 15
Impairment of goodwill	105
Hastings' overseas operations and Hastings' Australian operations
Intangible assets
Goodwill derecognised due to sale	15
Impairment of goodwill	105
Computer software
Intangible assets
Carrying amount	2,177	$ 1,916	$ 1,781
Computer software | Parent Entity
Intangible assets
Carrying amount	2,014	1,758	1,635
Computer software | Gross/Cost
Intangible assets
Carrying amount	5,727	5,059
Computer software | Gross/Cost | Parent Entity
Intangible assets
Carrying amount	4,861	4,249
Computer software | Accumulated amortisation and impairment
Intangible assets
Carrying amount	(3,550)	(3,143)
Computer software | Accumulated amortisation and impairment | Parent Entity
Intangible assets
Carrying amount	(2,847)	(2,491)
Brand Names
Intangible assets
Carrying amount	670	670	670
Brand Names | Parent Entity
Intangible assets
Carrying amount	636	636	636
Core deposit intangibles
Intangible assets
Carrying amount		21	187
Core deposit intangibles | Parent Entity
Intangible assets
Carrying amount		21	187
Core deposit intangibles | Gross/Cost
Intangible assets
Carrying amount	1,494	1,494
Core deposit intangibles | Gross/Cost | Parent Entity
Intangible assets
Carrying amount	1,279	1,279
Core deposit intangibles | Accumulated amortisation and impairment
Intangible assets
Carrying amount	(1,494)	(1,473)
Core deposit intangibles | Accumulated amortisation and impairment | Parent Entity
Intangible assets
Carrying amount	(1,279)	(1,258)
Other intangibles
Intangible assets
Carrying amount	26	33	53
Other intangibles | Parent Entity
Intangible assets
Carrying amount			$ 3
Other intangibles | Gross/Cost
Intangible assets
Carrying amount	391	398
Other intangibles | Gross/Cost | Parent Entity
Intangible assets
Carrying amount	160	160
Other intangibles | Accumulated amortisation and impairment
Intangible assets
Carrying amount	(365)	(365)
Other intangibles | Accumulated amortisation and impairment | Parent Entity
Intangible assets
Carrying amount	$ (160)	$ (160)

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Intangible assets - Goodwill allocation (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Goodwill allocation
Total goodwill	$ 8,890	$ 9,012	$ 9,030
Significant assumptions used in recoverable amount for goodwill
Group's equity rate	11.00%	11.00%
Consumer Bank
Goodwill allocation
Total goodwill	$ 3,359	$ 3,359
Business Bank
Goodwill allocation
Total goodwill	2,513	2,513
Westpac Institutional Bank
Goodwill allocation
Total goodwill	487	487
BT Financial Group (Australia)
Goodwill allocation
Total goodwill	2,048	2,048
New Zealand Consumer Banking and Wealth
Goodwill allocation
Total goodwill	470	472
BT New Zealand
Goodwill allocation
Total goodwill	$ 13	13
Hastings
Goodwill allocation
Total goodwill		$ 120
Australia
Significant assumptions used in recoverable amount for goodwill
Group's adjusted pre-tax equity rate	15.70%	15.70%
New Zealand
Significant assumptions used in recoverable amount for goodwill
Group's adjusted pre-tax equity rate	15.30%	15.30%
Parent Entity
Goodwill allocation
Total goodwill	$ 6,844	$ 6,844	$ 6,844
Parent Entity | Consumer Bank
Goodwill allocation
Total goodwill	3,144	3,144
Parent Entity | Business Bank
Goodwill allocation
Total goodwill	2,378	2,378
Parent Entity | Westpac Institutional Bank
Goodwill allocation
Total goodwill	487	487
Parent Entity | BT Financial Group (Australia)
Goodwill allocation
Total goodwill	$ 835	$ 835

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Other assets (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Other assets
Accrued interest receivable	$ 1,276	$ 1,193
Securities sold not delivered	1,264	1,408
Deferred acquisition costs	71	86
Trade debtors	1,056	810
Prepayments	208	220
Accrued fees and commissions	129	149
Other	1,131	1,496
Total other assets	5,135	5,362
Parent Entity
Other assets
Accrued interest receivable	1,103	1,029
Securities sold not delivered	1,264	1,388
Deferred acquisition costs		1
Trade debtors	514	358
Prepayments	165	182
Accrued fees and commissions	60	64
Other	882	1,296
Total other assets	$ 3,988	$ 4,318

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Provisions (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Reconciliation of changes in other provisions
Balance at beginning of the year	$ 1,639
Additions	1,581
Utilisation	(1,231)
Reversal of unutilised provisions	(51)
Unwinding of discount	4
Other	(14)
Balance at end of the year	1,928
New South Wales
Legislative liabilities
Actuarial assessment liability	20	$ 23
Victoria
Legislative liabilities
Actuarial assessment liability	9	9
South Australia
Legislative liabilities
Actuarial assessment liability	5	6
Queensland
Legislative liabilities
Actuarial assessment liability	2	2
Australian Capital Territory
Legislative liabilities
Actuarial assessment liability	1	1
Western Australia
Legislative liabilities
Actuarial assessment liability	2	2
Tasmania
Legislative liabilities
Actuarial assessment liability	1	$ 1
Long Service Leave
Reconciliation of changes in other provisions
Balance at beginning of the year	399
Additions	77
Utilisation	(43)
Reversal of unutilised provisions	(16)
Balance at end of the year	417
Annual Leave and Other Employee Benefits
Reconciliation of changes in other provisions
Balance at beginning of the year	737
Additions	960
Utilisation	(977)
Reversal of unutilised provisions	(25)
Other	4
Balance at end of the year	699
Litigation and Non-Lending Losses
Reconciliation of changes in other provisions
Balance at beginning of the year	38
Additions	97
Utilisation	(79)
Reversal of unutilised provisions	(3)
Balance at end of the year	53
Provisions for Impairment on Credit Commitments
Reconciliation of changes in other provisions
Balance at beginning of the year	253
Unwinding of discount	4
Other	(18)
Balance at end of the year	239
Leasehold Premises
Reconciliation of changes in other provisions
Balance at beginning of the year	26
Additions	4
Utilisation	(6)
Balance at end of the year	24
Restructuring Provisions
Reconciliation of changes in other provisions
Balance at beginning of the year	5
Additions	29
Utilisation	(5)
Reversal of unutilised provisions	(2)
Balance at end of the year	27
Compliance, Regulation and Remediation Provisions
Reconciliation of changes in other provisions
Balance at beginning of the year	181
Additions	414
Utilisation	(121)
Reversal of unutilised provisions	(5)
Balance at end of the year	469
Parent Entity
Reconciliation of changes in other provisions
Balance at beginning of the year	1,472
Additions	1,456
Utilisation	(1,117)
Reversal of unutilised provisions	(36)
Unwinding of discount	3
Other	(12)
Balance at end of the year	1,766
Parent Entity | Long Service Leave
Reconciliation of changes in other provisions
Balance at beginning of the year	367
Additions	72
Utilisation	(39)
Reversal of unutilised provisions	(16)
Other	2
Balance at end of the year	386
Parent Entity | Annual Leave and Other Employee Benefits
Reconciliation of changes in other provisions
Balance at beginning of the year	644
Additions	888
Utilisation	(890)
Reversal of unutilised provisions	(10)
Other	7
Balance at end of the year	639
Parent Entity | Litigation and Non-Lending Losses
Reconciliation of changes in other provisions
Balance at beginning of the year	25
Additions	71
Utilisation	(56)
Reversal of unutilised provisions	(3)
Balance at end of the year	37
Parent Entity | Provisions for Impairment on Credit Commitments
Reconciliation of changes in other provisions
Balance at beginning of the year	224
Unwinding of discount	3
Other	(21)
Balance at end of the year	206
Parent Entity | Leasehold Premises
Reconciliation of changes in other provisions
Balance at beginning of the year	26
Additions	4
Utilisation	(6)
Balance at end of the year	24
Parent Entity | Restructuring Provisions
Reconciliation of changes in other provisions
Balance at beginning of the year	5
Additions	29
Utilisation	(5)
Reversal of unutilised provisions	(2)
Balance at end of the year	27
Parent Entity | Compliance, Regulation and Remediation Provisions
Reconciliation of changes in other provisions
Balance at beginning of the year	181
Additions	392
Utilisation	(121)
Reversal of unutilised provisions	(5)
Balance at end of the year	$ 447

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Other liabilities (Details) - AUD ($) $ in Millions		Sep. 30, 2018	Sep. 30, 2017
Other liabilities
Unearned insurance premiums		$ 398	$ 396
Outstanding insurance claims		367	339
Defined benefit deficit		25	43
Accrued interest payable		2,968	2,727
Credit card loyalty program		308	284
Securities purchased not delivered		1,343	1,315
Trade creditors and other accrued expenses		1,410	1,109
Other		2,374	2,393
Total other liabilities	[1]	9,193	8,606
Provision for refunds and payments		177
Parent Entity
Other liabilities
Defined benefit deficit		9	30
Accrued interest payable		2,633	2,416
Credit card loyalty program		23	16
Securities purchased not delivered		1,343	1,315
Trade creditors and other accrued expenses		1,125	890
Other		2,159	2,282
Total other liabilities	[1]	$ 7,292	$ 6,949

[1] Comparatives have been revised to reclassify compliance, regulation and remediation provisions.

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Operating lease commitments (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Operating leases
Total lease commitments	$ 3,953	$ 4,133
Future minimum lease payments receivable from non-cancellable sub-leases	7	9
No later than one year
Operating leases
Total lease commitments	570	548
Over 1 Year to 5 Years
Operating leases
Total lease commitments	1,564	1,591
Over 5 Years
Operating leases
Total lease commitments	1,819	1,994
Parent Entity
Operating leases
Total lease commitments	3,314	3,527
Future minimum lease payments receivable from non-cancellable sub-leases	6	9
Parent Entity | No later than one year
Operating leases
Total lease commitments	498	480
Parent Entity | Over 1 Year to 5 Years
Operating leases
Total lease commitments	1,356	1,395
Parent Entity | Over 5 Years
Operating leases
Total lease commitments	$ 1,460	$ 1,652

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Contingent liabilities, contingent assets and credit commitments - Undrawn credit commitments excluding derivatives (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Contingent liabilities, contingent assets and credit commitments
Letters of credit and guarantees	$ 15,585	$ 15,460
Commitments to extend credit	174,658	178,443
Other	154	648
Total undrawn credit commitments	190,397	194,551
Commitments to customers, which had not yet been accepted	5,700	5,500
No later than one year
Contingent liabilities, contingent assets and credit commitments
Letters of credit and guarantees	8,983
Commitments to extend credit	50,292
Total undrawn credit commitments	59,275
Later than one year and not later than three years
Contingent liabilities, contingent assets and credit commitments
Letters of credit and guarantees	2,717
Commitments to extend credit	49,320
Other	74
Total undrawn credit commitments	52,111
Over 3 to 5 Years
Contingent liabilities, contingent assets and credit commitments
Letters of credit and guarantees	890
Commitments to extend credit	14,637
Other	25
Total undrawn credit commitments	15,552
Over 5 Years
Contingent liabilities, contingent assets and credit commitments
Letters of credit and guarantees	2,995
Commitments to extend credit	60,409
Other	55
Total undrawn credit commitments	63,459
Parent Entity
Contingent liabilities, contingent assets and credit commitments
Letters of credit and guarantees	14,957	14,908
Commitments to extend credit	152,943	156,423
Other	99	648
Total undrawn credit commitments	$ 167,999	$ 171,979

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Contingent liabilities, contingent assets and credit commitments - Contingent liabilities (Details)	Sep. 30, 2018 AUD ($) item	Dec. 22, 2016 customer
Contingent liabilities, contingent assets and credit commitments
Number of planners operating in aligned dealer groups | item	1,660
Legal proceedings
Contingent liabilities, contingent assets and credit commitments
Number of customers for focus of claim | customer		15
Guarantees
Contingent liabilities, contingent assets and credit commitments
Maximum deposits insured under FCS	$ 250,000
Maximum percentage of FCS levy	0.50%
Parent Entity | Guarantees
Contingent liabilities, contingent assets and credit commitments
Maximum contingent liability	$ 40,000,000

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Shareholders' equity - Share capital (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Shareholders' equity
Ordinary share capital, fully paid	$ 36,054	$ 34,889
Treasury shares held for RSP	(505)	(434)
Other treasury shares held	12	(61)
Total treasury shares held	(493)	(495)
Total share capital	35,561	34,394
Non-controlling interests	$ 52	$ 54
Number of shares in entity held by entity, unvested restricted shares	3,943,660	3,549,035
Number of shares in entity held by entity or by its subsidiaries or associates, other	2,029,795	4,652,579
Parent Entity
Shareholders' equity
Ordinary share capital, fully paid	$ 36,054	$ 34,889
Treasury shares held for RSP	(505)	(434)
Other treasury shares held	(3)	(3)
Total treasury shares held	(508)	(437)
Total share capital	$ 35,546	$ 34,452

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Shareholders' equity - Ordinary shares (Details) - Ordinary shares	12 Months Ended
	Sep. 30, 2018 $ / shares $ / shares shares	Sep. 30, 2017 $ / shares shares	Sep. 30, 2016 $ / shares
Shareholders' equity
Par value	$ 0
Number of votes per ordinary shares	1
Reconciliation of movement in number of ordinary shares
Number of shares outstanding at beginning of period | shares	3,394,364,279	3,346,166,853
Dividend reinvestment plan | shares	21,242,667	48,197,426
Conversion of Westpac Convertible Preference Shares | shares	19,189,765
Number of shares outstanding at end of period | shares	3,434,796,711	3,394,364,279
Dividend reinvestment plan - price per share for current year interim dividend	$ 28.11	$ 29.79
Dividend reinvestment plan - price per share for prior year final dividend		$ 31.62	$ 31.32
Conversion of Westpac Convertible Preference Shares - conversion Per Share	$ 29.49

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Shareholders' equity - Ordinary shares purchased on market (Details) - AUD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based payments
Number of treasury shares purchased, excluding RSP	93,052
Number of treasury shares sold	(2,715,836)
Net number of ordinary shares purchased/(sold) on market	786,686
Treasury shares purchased - average price	$ 28.97
Treasury shares sold - average price	28.10
Tax benefit on purchase of ordinary shares on market	$ 220,000
Employee Share Plan (ESP)
Share-based payments
Number of ordinary shares purchased on market	854,267
Average share price, ordinary shares	$ 31.86
Restricted Share Plan (RSP)
Share-based payments
Number of ordinary shares purchased on market	2,291,897
Average share price, ordinary shares	$ 31.32
Westpac Performance Plan (WPP) | Share rights
Share-based payments
Number of ordinary shares purchased on market	156,691
Average share price, ordinary shares	$ 31.49
Westpac Performance Plan (WPP) | Share options
Share-based payments
Number of ordinary shares purchased on market	0
Average exercise price, options		$ 23.98
Westpac Long Term Incentive Plan (LTIP) | Share rights
Share-based payments
Number of ordinary shares purchased on market	2,929
Average share price, ordinary shares	$ 28.42
Westpac Long Term Incentive Plan (LTIP) | Share options
Share-based payments
Number of ordinary shares purchased on market	103,686
Average share price, ordinary shares	$ 28.80
Average exercise price, options	$ 24.23	$ 28.54

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Shareholders' equity - Reconciliation of movement in reserves (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Available-for-sale securities reserve
Opening balance	$ 64	$ 10
Net gains/(losses) from changes in fair value	(104)	75
Income tax effect	34	(19)
Transferred to income statements	66	(3)	$ (8)
Income tax effect	(25)	1
Exchange differences	2
Closing balance	37	64	10
Share-based payment reserve
Opening balance	1,431	1,333
Share-based payment expense	103	98	116
Closing balance	1,534	1,431	1,333
Cash flow hedge reserve
Opening balance	(154)	(172)
Net gains/(losses) from changes in fair value	(161)	(91)	(304)
Income tax effect	47	27
Transferred to income statements	203	115	21
Income tax effect	(60)	(33)
Closing balance	(125)	(154)	(172)
Foreign currency translation reserve
Opening balance	(529)	(413)
Exchange differences on translation of foreign operations (net of associated hedges)	181	(116)	(238)
Transferred to income statements	(3)
Closing balance	(351)	(529)	(413)
Other reserves
Opening balance	(18)	(19)
Transactions with owners		1
Closing balance	(18)	(18)	(19)
Total other reserves	1,077	794
Parent Entity
Available-for-sale securities reserve
Opening balance	70	10
Net gains/(losses) from changes in fair value	(34)	88
Income tax effect	13	(26)
Transferred to income statements	(33)	(3)
Income tax effect	6	1
Exchange differences	2
Closing balance	24	70	10
Share-based payment reserve
Opening balance	1,322	1,221
Share-based payment expense	103	101
Closing balance	1,425	1,322	1,221
Cash flow hedge reserve
Opening balance	(94)	(78)
Net gains/(losses) from changes in fair value	(125)	(42)
Income tax effect	38	13
Transferred to income statements	160	19
Income tax effect	(48)	(6)
Closing balance	(69)	(94)	(78)
Foreign currency translation reserve
Opening balance	(481)	(404)
Exchange differences on translation of foreign operations (net of associated hedges)	174	(77)
Closing balance	(307)	(481)	(404)
Other reserves
Opening balance	41	41
Closing balance	41	41	$ 41
Total other reserves	$ 1,114	$ 858

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Capital adequacy (Details)	Sep. 30, 2018
Capital adequacy
Minimum requirement of Common Equity Tier 1 (CET1)	4.5
Minimum requirement of Tier 1 capital ratio	6.0
Minimum requirement of Total Regulatory Capital ratio	8.0
Capital conservation buffer	3.5
Capital conservation buffer, surcharge	1.0
Countercyclical capital buffer	0
Common Equity Tier 1, interim preferred ratio	10.5

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Dividends (Details) $ / shares in Units, $ / shares in Units, $ in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2018 NZD ($) $ / shares	Sep. 30, 2018 AUD ($) $ / shares	Sep. 30, 2017 NZD ($) $ / shares	Sep. 30, 2017 AUD ($) $ / shares	Sep. 30, 2016 NZD ($) $ / shares	Sep. 30, 2016 AUD ($) $ / shares	Sep. 30, 2015
Dividends
Dividends not recognised at year end and proposed final dividend 94 cents per share (2017: 94 cents, 2016: 94 cents) all fully franked at 30%		$ 3,227		$ 3,186		$ 3,142
Proposed final dividend per share | $ / shares		$ 0.94		$ 0.94		$ 0.94
Dividend tax rate (as a percent)	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%
New Zealand
Dividends
Imputation credits per share | $ / shares	$ 0.07		$ 0.07		$ 0.07
Parent Entity
Dividends
Dividends not recognised at year end and proposed final dividend 94 cents per share (2017: 94 cents, 2016: 94 cents) all fully franked at 30%		$ 3,229		$ 3,191
Dividend tax rate (as a percent)	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%
Parent Entity | Australia
Dividends
Franking credits		$ 1,357		$ 1,063		$ 911
Parent Entity | New Zealand
Dividends
Imputation credits	$ 530		$ 375		$ 423

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Investments in subsidiaries and associates - Material controlled entities and material controlled entities not wholly owned (Details)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
St.George Motor Finance Limited
Material controlled entities
Percentage of equity owned by parent	75.00%	75.00%
Westpac Bank-PNG-Limited
Material controlled entities
Percentage of equity owned by parent	89.90%	89.90%
Westpac NZ Covered Bond Limited
Material controlled entities
Percentage of equity owned by parent	19.00%	19.00%
Westpac NZ Securitisation Limited
Material controlled entities
Percentage of equity owned by parent	19.00%	19.00%

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Investments in subsidiaries and associates - Associates (Details) shares in Millions	May 26, 2017 shares	Sep. 30, 2018 item
Investments in subsidiaries and associates
Number of associates material to the Group | item		0
Pendal Group Limited
Investments in subsidiaries and associates
Number of shares sold under investment in associates | shares	60
Holding percentage of available-for-sale securities	10.00%
Ownership in associate (as a percent)	29.00%

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Investments in subsidiaries and associates - Associates, Summarised results (Details) - AUD ($) $ in Millions	8 Months Ended	12 Months Ended
	May 26, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Summarised results
Revenue for the period		$ 38,199	$ 37,518	$ 37,659
Net profit for the period		8,099	7,997	7,460
Net other comprehensive income for the year		268	(6)	(519)
Total comprehensive income		8,367	7,991	6,941
Group's share in net profit recognised in the income statement		$ (10)	$ 17	$ 30
Pendal Group Limited
Summarised results
Revenue for the period	$ 262
Net profit for the period	90
Net other comprehensive income for the year	11
Total comprehensive income	101
Group's share of net profit	26
Equity accounting adjustments	(13)
Group's share in net profit recognised in the income statement	13
Group's share of other comprehensive income	4
Tax effect on Group's share of other comprehensive income	(1)
Share of total comprehensive income recognised by the Group	16
Dividends received from associates during the period	$ 22

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Investments in subsidiaries and associates - Associates, Summarised balance sheet (Details) - AUD ($) $ in Millions	8 Months Ended	12 Months Ended
	May 26, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2016
Summarised balance sheet
Total assets		$ 851,875	$ 879,592	$ 839,202
Liabilities		(790,533)	(815,019)	$ (781,021)
Net assets/(net liabilities)		61,342	64,573
Carrying amount of interest in Pendal Group Limited		60	$ 115
Proceeds from sale of Pendal Group Limited interest, net of transaction costs		$ 630
Pendal Group Limited
Summarised balance sheet
Total assets	$ 887
Liabilities	(122)
Net assets/(net liabilities)	765
Group's share of total net assets	222
Fair value adjustments (including notional goodwill) on acquisition (net of amortisation)	491
Carrying amount of interest in Pendal Group Limited	713
Carrying amount of interest in Pendal Group Limited sold	(471)
Carrying amount of remaining interest reclassified to available-for-sale securities	(242)
Fair value of remaining interest reclassified to available-for-sale securities	375
Proceeds from sale of Pendal Group Limited interest, net of transaction costs	630
Amount of reserves recycled to profit or loss	(13)
Gain on sale of interest in Pendal Group Limited	$ 279

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Investments in subsidiaries and associates - Changes in ownership of subsidiaries (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2016
Changes in ownership of subsidiaries
Gain (loss) on businesses disposed during the year	$ (9)	$ 1
Cash consideration received (paid), net of transaction costs and cash held	9	(104)
Hastings offshore subsidiaries
Changes in ownership of subsidiaries
Gain (loss) on businesses disposed during the year	(9)
Cash consideration received (paid), net of transaction costs and cash held	$ 9
Banking operations in Solomon Islands and Vanuatu
Changes in ownership of subsidiaries
Gain (loss) on businesses disposed during the year		1
Cash consideration received (paid), net of transaction costs and cash held		$ (104)

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Structured entities (Details) - AUD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Structured entities
Total on-balance sheet exposures	$ 61,068	$ 58,482
Total notional amounts of off-balance sheet exposures	13,193	13,586
Maximum exposure to loss	74,261	72,068
Size of structured entities	253,049	291,417
Receivables due from other financial institutions
Structured entities
Total on-balance sheet exposures		392
Trading securities and financial assets designated at fair value
Structured entities
Total on-balance sheet exposures	2,247	2,414
Available-for-sale securities
Structured entities
Total on-balance sheet exposures	7,352	6,981
Loans
Structured entities
Total on-balance sheet exposures	44,877	42,564
Life insurance assets
Structured entities
Total on-balance sheet exposures	6,545	6,079
Other assets
Structured entities
Total on-balance sheet exposures	47	52
Investment in Third Party Mortgage and Other Asset-Backed Securities
Structured entities
Total on-balance sheet exposures	9,460	8,721
Maximum exposure to loss	9,460	8,721
Size of structured entities	58,976	60,573
Investment in Third Party Mortgage and Other Asset-Backed Securities | Trading securities and financial assets designated at fair value
Structured entities
Total on-balance sheet exposures	2,108	1,740
Investment in Third Party Mortgage and Other Asset-Backed Securities | Available-for-sale securities
Structured entities
Total on-balance sheet exposures	7,352	6,981
Financing to Securitisation Vehicles
Structured entities
Total on-balance sheet exposures	21,977	20,424
Total notional amounts of off-balance sheet exposures	5,145	5,802
Maximum exposure to loss	27,122	26,226
Size of structured entities	27,122	26,226
Financing to Securitisation Vehicles | Receivables due from other financial institutions
Structured entities
Total on-balance sheet exposures		392
Financing to Securitisation Vehicles | Loans
Structured entities
Total on-balance sheet exposures	21,977	20,032
Group Managed Funds
Structured entities
Total on-balance sheet exposures	4,755	4,440
Total notional amounts of off-balance sheet exposures	60	66
Maximum exposure to loss	4,815	4,506
Size of structured entities	66,524	70,070
Group Managed Funds | Loans
Structured entities
Total on-balance sheet exposures	6	44
Group Managed Funds | Life insurance assets
Structured entities
Total on-balance sheet exposures	4,702	4,344
Group Managed Funds | Other assets
Structured entities
Total on-balance sheet exposures	47	52
Interest in Other Structured Entities
Structured entities
Total on-balance sheet exposures	24,876	24,897
Total notional amounts of off-balance sheet exposures	7,988	7,718
Maximum exposure to loss	32,864	32,615
Size of structured entities	100,427	134,548
Interest in Other Structured Entities | Trading securities and financial assets designated at fair value
Structured entities
Total on-balance sheet exposures	139	674
Interest in Other Structured Entities | Loans
Structured entities
Total on-balance sheet exposures	22,894	22,488
Interest in Other Structured Entities | Life insurance assets
Structured entities
Total on-balance sheet exposures	$ 1,843	$ 1,735

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Share-based payments - Summary of plans (Details)	12 Months Ended
	Sep. 30, 2018 AUD ($)
Restricted shares
Share-based payments
Cost of shares allocated	$ 0
Westpac Long Term Incentive Plan (LTIP)
Share-based payments
Performance period	4 years
Holding lock period	1 year
Vesting period	4 years
Westpac Long Term Incentive Plan (LTIP) | Awards prior to 2011
Share-based payments
Performance period	3 years
Westpac Long Term Incentive Plan (LTIP) | 2011 to 2014 Award Dates
Share-based payments
Performance period	3 years
Vesting period	3 years
Westpac Long Term Incentive Plan (LTIP) | 2015 Awards
Share-based payments
Performance period	4 years
Performance period, cash EPS (CAGR)	3 years
Holding lock period	1 year
Westpac Long Term Incentive Plan (LTIP) | Share rights
Share-based payments
Cost of shares allocated	$ 0
Exercise price	0
Westpac Performance Plan (WPP) | Share rights
Share-based payments
Cost of shares allocated	0
Exercise price	0
Restricted Share Plan (RSP)
Share-based payments
Cost of shares allocated	$ 0
Term of award	10 years
Employee Share Plan (ESP)
Share-based payments
Cost of shares allocated	$ 0
Threshold amount of shares allocated at free of cost per employee	$ 1,000
Service conditions	3 years
Vesting period	1 year

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Share-based payments - Westpac Long Term Incentive Plan, Westpac Performance Plan (WPP) & Restricted Share Plan (RSP) (Details)	12 Months Ended
	Sep. 30, 2018 AUD ($) Y EquityInstruments	Sep. 30, 2017 AUD ($) Y EquityInstruments	Sep. 30, 2016 AUD ($) EquityInstruments
Westpac Long Term Incentive Plan (LTIP) | Share options
Share options
Outstanding at the beginning of the year	256,840	583,018
Options exercised during the year	103,686	326,178
Lapsed during the year	100,804
Outstanding at the end of the year	52,350	256,840	583,018
Outstanding and Exercisable at the end of the year	52,350	256,840
Weighted Average Exercise Price
Outstanding at the beginning of the year | $	$ 26.36	$ 27.58
Exercised during the year | $	24.23	28.54
Outstanding at the end of the year | $	23.40	26.36	$ 27.58
Outstanding and Exercisable at the end of the year | $	$ 23.40	$ 26.36
Weighted average remaining contractual life | Y	0	0.7
Westpac Long Term Incentive Plan (LTIP) | Share rights
Equity instruments other than options
Outstanding at the beginning of the year	5,231,904	5,275,652
Granted during the year	808,290	930,012
Equity instruments exercised during the year	2,929
Lapsed during the year	1,324,422	973,760
Outstanding at the end of the year	4,712,843	5,231,904	5,275,652
Outstanding and Exercisable at the end of the year	3,719	6,648
Weighted average remaining contractual life	10 years 10 months 24 days	10 years 3 months 18 days
Weighted average fair value at grant date | $	$ 17.86	$ 19.17
Westpac Performance Plan (WPP) | Share options
Share options
Outstanding at the beginning of the year		74,094
Options exercised during the year		52,745
Lapsed during the year		21,349
Outstanding at the end of the year			74,094
Weighted Average Exercise Price
Outstanding at the beginning of the year | $		$ 23.98
Exercised during the year | $		$ 23.98
Outstanding at the end of the year | $			$ 23.98
Westpac Performance Plan (WPP) | Share rights
Equity instruments other than options
Outstanding at the beginning of the year	619,779	391,503
Granted during the year	246,902	393,536
Equity instruments exercised during the year	156,691	142,093
Lapsed during the year	36,101	23,167
Outstanding at the end of the year	673,889	619,779	391,503
Outstanding and Exercisable at the end of the year	124,525	118,912
Weighted average remaining contractual life		12 years 4 months 24 days	12 years 3 months 18 days
Weighted average fair value at grant date | $	$ 27.83	$ 27.40
Westpac Performance Plan (WPP) | Share rights | One-year vesting period
Equity instruments other than options
Outstanding at the beginning of the year	155,419
Granted during the year	72,000
Equity instruments exercised during the year	66,357
Lapsed during the year	20,531
Outstanding at the end of the year	140,531	155,419
Outstanding and Exercisable at the end of the year	53,644
Westpac Performance Plan (WPP) | Share rights | Two-year vesting period
Equity instruments other than options
Outstanding at the beginning of the year	233,456
Granted during the year	88,967
Equity instruments exercised during the year	60,882
Lapsed during the year	8,151
Outstanding at the end of the year	253,390	233,456
Outstanding and Exercisable at the end of the year	42,455
Westpac Performance Plan (WPP) | Share rights | Three-year vesting period
Equity instruments other than options
Outstanding at the beginning of the year	104,382
Granted during the year	43,589
Equity instruments exercised during the year	29,452
Lapsed during the year	780
Outstanding at the end of the year	117,739	104,382
Outstanding and Exercisable at the end of the year	28,426
Westpac Performance Plan (WPP) | Share rights | Four-year vesting period
Equity instruments other than options
Outstanding at the beginning of the year	126,522
Granted during the year	42,346
Lapsed during the year	6,639
Outstanding at the end of the year	162,229	126,522
Restricted Share Plan (RSP)
Equity instruments other than options
Outstanding at the beginning of the year	4,204,753	4,426,872
Granted during the year	2,479,975	2,195,572
Released	2,225,245	2,332,985
Forfeited during the year	269,839	84,706
Outstanding at the end of the year	4,189,644	4,204,753	4,426,872
Restricted Share Plan (RSP) | Granted prior to October 2009
Equity instruments other than options
Outstanding at the beginning of the year	675,329
Released	328,597
Outstanding at the end of the year	346,732	675,329
Weighted average remaining contractual life	10 years
Restricted Share Plan (RSP) | Granted subsequent to October 2009
Equity instruments other than options
Outstanding at the beginning of the year	3,529,424
Granted during the year	2,479,975
Released	1,896,648
Forfeited during the year	269,839
Outstanding at the end of the year	3,842,912	3,529,424
Restricted Share Plan (RSP) | Share rights
Equity instruments other than options
Weighted average fair value at grant date | $	$ 31.29	$ 32.24

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Share-based payments - Employee Share Plan (Details) - Employee Share Plan (ESP)	12 Months Ended
	Sep. 30, 2018 AUD ($) EquityInstruments employee $ / shares shares	Sep. 30, 2017 AUD ($) EquityInstruments employee $ / shares shares
Share-based payments
Number of Participants | employee	27,557	26,966
Average Number of Shares Allocated per Participant | shares	31	32
Total Number of Shares Allocated | EquityInstruments	854,267	862,912
Market Price per Share | $ / shares	$ 31.80	$ 31.25
Total Fair Value	$ 27,165,691	$ 26,966,000
Other employee benefits	$ 28,000,000	$ 28,000,000

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Share-based payments - Fair value assumptions (Details)	12 Months Ended
	Sep. 30, 2018
Share-based payments
Risk-free rate	2.60%
Dividend yield	6.00%
Volatility rate	19.90%

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Superannuation commitments (Details) £ in Thousands, $ in Millions	12 Months Ended
	Sep. 30, 2018 GBP (£)	Sep. 30, 2018 AUD ($)	Sep. 30, 2017 AUD ($)
Superannuation commitments
Funding surplus | $		$ 324	$ 315
Westpac Group Plan
Superannuation commitments
Percentage of contribution on member's salary	11.80%	11.80%
Westpac New Zealand Superannuation Scheme
Superannuation commitments
Percentage of contribution on member's salary	12.00%	12.00%
Staff Superannuation Scheme
Superannuation commitments
Contribution per year | £	£ 1,050

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Superannuation commitments - Expense recognised (Details) $ in Millions	12 Months Ended
	Sep. 30, 2018 AUD ($) Y	Sep. 30, 2017 AUD ($) Y	Sep. 30, 2016 AUD ($)
Superannuation commitments
Employer contributions	$ 30	$ 33
Member contributions	12	13
Expected contribution from the employer	29
Current service cost	37	42	$ 43
Net interest cost on net benefit liability	1	8	7
Total defined benefit expense	38	50	$ 50
Defined benefit balances recognised
Benefit obligation at end of the year	2,314	2,284
Fair value of plan assets at end of the year	2,378	2,289
Net surplus/(deficit)	64	5
Defined benefit surplus (Note 27)	89	48
Defined benefit deficit (Note 29)	$ (25)	$ (43)
Average duration of the defined benefit obligation | Y	11	11
Parent Entity
Superannuation commitments
Employer contributions	$ 30	$ 33
Member contributions	11	12
Current service cost	37	41
Net interest cost on net benefit liability		7
Total defined benefit expense	37	48
Defined benefit balances recognised
Benefit obligation at end of the year	2,239	2,209
Fair value of plan assets at end of the year	2,319	2,227
Net surplus/(deficit)	80	18
Defined benefit surplus (Note 27)	89	48
Defined benefit deficit (Note 29)	$ (9)	$ (30)

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Superannuation commitments - Significant assumptions (Details)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Australia
Superannuation commitments
Discount rate	4.10%	4.20%
Expected salary increase	2.90%	3.00%
Expected inflation	1.90%	2.00%
Life expectancy of a 60-year-old male	31 years	30 years 9 months 18 days
Life expectancy of a 60-year-old female	33 years 10 months 24 days	33 years 8 months 12 days
Overseas | Maximum
Superannuation commitments
Discount rate	2.90%	3.00%
Expected salary increase	5.00%	5.00%
Expected inflation	3.50%	3.50%
Life expectancy of a 60-year-old male	28 years 4 months 24 days	28 years 10 months 24 days
Life expectancy of a 60-year-old female	29 years 7 months 6 days	30 years 3 months 18 days
Overseas | Minimum
Superannuation commitments
Discount rate	2.60%	2.70%
Expected salary increase	3.00%	3.00%
Expected inflation	2.00%	2.00%
Life expectancy of a 60-year-old male	27 years 10 months 24 days	27 years 8 months 12 days
Life expectancy of a 60-year-old female	29 years 4 months 24 days	29 years 2 months 12 days

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Superannuation commitments - Sensitivity to changes in significant assumptions (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Discount rate
Superannuation commitments
Decrease in actuarial assumption (as a percent)	0.50%	0.50%
Increase in actuarial assumption, Increase (decrease) in the net defined benefit obligation	$ 120	$ 116
annual salary increases
Superannuation commitments
Increase in actuarial assumption (as a percent)	0.50%	0.50%
Increase in actuarial assumption, Increase (decrease) in the net defined benefit obligation	$ 8	$ 10
inflation rate
Superannuation commitments
Increase in actuarial assumption (as a percent)	0.50%	0.50%
Increase in actuarial assumption, Increase (decrease) in the net defined benefit obligation	$ 111	$ 106
Expected lifetime
Superannuation commitments
Increase in actuarial assumption, Increase (decrease) in the net defined benefit obligation	$ 38	$ 29
Increase in term of life expectancy	1 year	1 year

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Superannuation commitments - Asset allocation (Details)	Sep. 30, 2018	Sep. 30, 2017
Australia
Superannuation commitments
Asset allocation percentage	100.00%	100.00%
Australia | Cash
Superannuation commitments
Asset allocation percentage	5.00%	4.00%
Australia | Equity instruments
Superannuation commitments
Asset allocation percentage	45.00%	44.00%
Australia | Debt instruments
Superannuation commitments
Asset allocation percentage	28.00%	29.00%
Australia | Property
Superannuation commitments
Asset allocation percentage	10.00%	10.00%
Australia | Other assets
Superannuation commitments
Asset allocation percentage	12.00%	13.00%
Overseas
Superannuation commitments
Asset allocation percentage	100.00%	100.00%
Overseas | Cash
Superannuation commitments
Asset allocation percentage	2.00%	2.00%
Overseas | Equity instruments
Superannuation commitments
Asset allocation percentage	7.00%	13.00%
Overseas | Debt instruments
Superannuation commitments
Asset allocation percentage	80.00%	65.00%
Overseas | Property
Superannuation commitments
Asset allocation percentage	1.00%	10.00%
Overseas | Other assets
Superannuation commitments
Asset allocation percentage	10.00%	10.00%

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Auditor's remuneration (Details) - AUD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income tax expense
Audit fees	$ 23,337	$ 21,111
Audit-related fees	2,433	4,006
Total audit and audit-related fees	25,770	25,117
Tax fees	169	13
Other fees	1,581	1,943
Total audit and non-audit fees	27,520	27,073
Fees received by auditor from various entities related to Westpac but not consolidated	7,500	6,000
PwC Australia
Income tax expense
Audit fees	19,999	17,886
Audit-related fees	2,316	3,938
Tax fees	169	5
Other fees	1,581	1,853
Overseas PwC network firms
Income tax expense
Audit fees	3,338	3,225
Audit-related fees	117	68
Tax fees		8
Other fees		90
Parent Entity
Income tax expense
Audit fees	20,035	18,685
Audit-related fees	2,224	3,804
Total audit and audit-related fees	22,259	22,489
Tax fees	49
Other fees	1,501	1,002
Total audit and non-audit fees	23,809	23,491
Parent Entity | PwC Australia
Income tax expense
Audit fees	19,967	17,833
Audit-related fees	2,224	3,739
Tax fees	49
Other fees	1,501	912
Parent Entity | Overseas PwC network firms
Income tax expense
Audit fees	$ 68	852
Audit-related fees		65
Other fees		$ 90

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Related party disclosures - Superannuation plans (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Related party disclosures
Group contributions to defined contribution plans	$ 348	$ 329
Group contributions to defined benefit plans	$ 30	$ 33

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Related party disclosures - Remuneration of KMP (Details) - AUD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Remuneration of KMP
Short-term Benefits	$ 23,210,820	$ 25,048,403
Post Employment Benefits	618,631	621,606
Other Long-term Benefits	297,495	156,590
Share-based Payments	16,086,623	16,106,111
Total	40,213,569	41,932,710
Parent Entity
Remuneration of KMP
Short-term Benefits	21,807,008	23,859,466
Post Employment Benefits	537,187	545,524
Other Long-term Benefits	297,495	156,590
Share-based Payments	15,301,417	15,268,712
Total	$ 37,943,107	$ 39,830,292

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Related party disclosures - Other transactions with KMP (Details) - Key management personnel	12 Months Ended
	Sep. 30, 2018 AUD ($) item	Sep. 30, 2017 AUD ($) item
Remuneration of KMP
Interest Payable for the Year	$ 650,969	$ 739,466
Closing Loan Balance	$ 17,498,526	$ 15,290,320
Number of KMP with Loans | item	13	9

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Related party disclosures - Options and share rights holdings (Details)	Sep. 30, 2018 AUD ($) EquityInstruments
Brian Hartzer
Options and share rights holdings
Number of Share Rights	767,080
Lyn Cobley
Options and share rights holdings
Number of Share Rights	261,846
Brad Cooper
Options and share rights holdings
Number of Share Rights	329,216
David Curran
Options and share rights holdings
Number of Share Rights	288,436
George Frazis
Options and share rights holdings
Number of Share Rights	300,880
Peter King
Options and share rights holdings
Number of Share Rights	314,259
David Lees
Options and share rights holdings
Number of Share Rights	31,402
Number of Options	25,562
Exercise Price of Options | $	$ 23.40
Rebecca Lim
Options and share rights holdings
Number of Share Rights	144,092
David Linberg
Options and share rights holdings
Number of Share Rights	254,369
Carolyn McCann
Options and share rights holdings
Number of Share Rights	42,816
David McLean
Options and share rights holdings
Number of Share Rights	295,136
Christine Parker
Options and share rights holdings
Number of Share Rights	240,311
Gary Thursby
Options and share rights holdings
Number of Share Rights	154,553
Alexandra Holcomb
Options and share rights holdings
Number of Share Rights	292,576

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Notes to the cash flow statements - Reconciliation of operating activities (Details) - AUD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Condensed financial statements
Net profit for the year	$ 8,099	$ 7,997	$ 7,460
Adjustments:
Depreciation, amortisation and impairment	1,144	1,269	1,228
Impairment charges	889	1,021	1,261
Net (decrease)/increase in current and deferred tax	(96)	(34)	(285)
(Increase)/decrease in accrued interest receivable	(83)	(75)	25
(Decrease)/increase in accrued interest payable	241	148	(47)
(Decrease)/increase in provisions	289	219	(68)
Other non-cash items	332	(419)	(331)
Cash flows from operating activities before changes in operating assets and liabilities	10,815	10,126	9,243
Net (increase)/decrease in derivative financial instruments	8,584	(5,042)	(5,107)
Net (increase)/decrease in life insurance assets and liabilities	(230)	219	(253)
(Increase)/decrease in other operating assets:
Trading securities and financial assets designated at fair value	3,827	(5,054)	6,755
Loans	(24,740)	(26,815)	(38,082)
Receivables due from other financial institutions	1,678	2,653	(896)
Regulatory deposits with central banks overseas	(303)	308	(209)
Other assets	160	200	(476)
(Decrease)/increase in other operating liabilities:
Other financial liabilities at fair value through income statement	243	(681)	(4,488)
Deposits and other borrowings	23,928	23,062	38,771
Payables due to other financial institutions	(4,072)	3,859	(73)
Other liabilities	(88)	(15)	312
Net cash provided by/(used in) operating activities	19,802	2,820	$ 5,497
Parent Entity
Condensed financial statements
Net profit for the year	8,144	7,843
Adjustments:
Depreciation, amortisation and impairment	952	1,122
Impairment charges	820	991
Net (decrease)/increase in current and deferred tax	(598)	(572)
(Increase)/decrease in accrued interest receivable	(74)	(81)
(Decrease)/increase in accrued interest payable	217	154
(Decrease)/increase in provisions	294	28
Other non-cash items	420	219
Cash flows from operating activities before changes in operating assets and liabilities	10,175	9,704
Net (increase)/decrease in derivative financial instruments	8,263	(5,378)
(Increase)/decrease in other operating assets:
Trading securities and financial assets designated at fair value	3,150	(5,194)
Loans	(23,661)	(27,677)
Receivables due from other financial institutions	987	1,817
Regulatory deposits with central banks overseas	(299)	294
Other assets	210	136
(Decrease)/increase in other operating liabilities:
Other financial liabilities at fair value through income statement	261	(325)
Deposits and other borrowings	20,783	22,518
Payables due to other financial institutions	(4,396)	3,792
Other liabilities	(196)	78
Net cash provided by/(used in) operating activities	$ 15,277	$ (235)

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Notes to the cash flow statements - Assets and liabilities over which control ceased (Details) - AUD ($) $ in Millions		12 Months Ended
		Sep. 30, 2018	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2015	Sep. 30, 2014
Assets:
Cash and balances with central banks		$ 26,431		$ 18,397
Available-for-sale securities		61,119	$ 60,665	60,710
Loans		709,690	661,926	684,919	$ 623,316	$ 580,343
Regulatory deposits with central banks overseas		1,355		1,048
Property and equipment		1,329		1,487
Deferred tax assets		1,180	1,351	1,112
Intangible assets		11,763		11,652
Other assets		5,135		5,362
Total assets		879,592	839,202	851,875
Liabilities:
Deposits and other borrowings		559,285		533,591
Current tax liabilities		296		308
Provisions	[1]	1,928		1,639
Other liabilities	[1]	9,193		8,606
Total liabilities		815,019	781,021	790,533
Total equity attributable to owners of Westpac Banking Corporation		64,521		61,288
Assets and liabilities over which control ceased
Assets:
Cash and balances with central banks		10	138
Available-for-sale securities			1
Loans			132
Regulatory deposits with central banks overseas			5
Property and equipment		2	3
Deferred tax assets		4	1
Intangible assets		15	1
Other assets		5	27
Total assets		36	308
Liabilities:
Deposits and other borrowings			264
Current tax liabilities			2
Provisions		2	1
Other liabilities		3	6
Total liabilities		5	273
Total equity attributable to owners of Westpac Banking Corporation		31	35
Cash proceeds (net of transaction costs)		19	34
Total consideration		19	34
Reserves recycled to income statement		3	2
Gain/(loss) on disposal		(9)	1
Reconciliation of cash proceeds from disposal
Cash proceeds (net of transaction costs)		19	34
Less: Cash deconsolidated		(10)	(138)
Cash consideration (paid)/received (net of transaction costs and cash held)		9	(104)
Parent Entity
Assets:
Cash and balances with central banks		24,726		16,405
Available-for-sale securities		56,513		55,800
Loans		630,168		606,237
Regulatory deposits with central banks overseas		1,248		945
Property and equipment		1,120		1,250
Deferred tax assets		1,102	$ 1,399	1,053
Intangible assets		9,494		9,259
Other assets		3,988		4,318
Total assets		923,230		894,869
Liabilities:
Deposits and other borrowings		500,468		477,693
Current tax liabilities		184		234
Provisions	[1]	1,766		1,472
Other liabilities	[1]	7,292		6,949
Total liabilities		867,874		842,688
Total equity attributable to owners of Westpac Banking Corporation		$ 55,356		$ 52,181

[1] Comparatives have been revised to reclassify compliance, regulation and remediation provisions.

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Notes to the cash flow statements - Non-cash financing activities and restricted cash (Details) - AUD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Apr. 03, 2018	Mar. 13, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Non-cash financing activities
Shares issued under the dividend reinvestment plan			$ 631	$ 1,452	$ 726
Shares issued from the conversion of Westpac CPS			566
Restricted cash			0	38
Westpac CPS converted to Westpac Capital Notes
Non-cash financing activities
Number of Westpac CPS converted		6,233,643
Value of Westpac CPS converted		$ 623
Westpac CPS converted to ordinary shares
Non-cash financing activities
Value of Westpac CPS converted	$ 566
Value per share of Westpac CPS transferred to nominated party prior to conversion	$ 100
Shares issued on conversion of Westpac CPS	19,189,765
Parent Entity
Non-cash financing activities
Shares issued under the dividend reinvestment plan			631	1,452
Shares issued from the conversion of Westpac CPS			566
Restricted cash			$ 0	$ 0