The following table includes the principal controlled entities of the Group as at 30 September 2020.


	Country of		Country of
Name	incorporation	Name	incorporation
Advance Asset Management Limited	Australia	Westpac Financial Services Group Limited	Australia
Asgard Capital Management Limited	Australia	Westpac General Insurance Services Limited	Australia
Asgard Wealth Solutions Limited	Australia	Westpac Securitisation Holdings Pty Limited	Australia
BT Financial Group Pty Limited	Australia	Westpac Life-NZ-Limited	New Zealand
BT Funds Management Limited	Australia	Westpac New Zealand Group Limited	New Zealand
BT Portfolio Services Limited	Australia	Westpac New Zealand Limited	New Zealand
Capital Finance Australia Limited	Australia	Westpac NZ Covered Bond Limited1	New Zealand
Crusade Trust No.2P of 2008	Australia	Westpac NZ Securitisation Limited1	New Zealand
Series 2008-IM WST Trust	Australia	Westpac Securities NZ Limited	New Zealand
Westpac Covered Bond Trust	Australia	Westpac Term Pie Fund2	New Zealand
Westpac Equity Holdings Pty Limited	Australia	Westpac Bank-PNG-Limited	Papua New Guinea

^1.

The 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.

^2.

The 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	2020	2019
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%