Westpac Banking (NZSE:WBC) Effective Interest Rate on Debt % : 15.97% (As of Sep. 2023)

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What is Westpac Banking Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Westpac Banking's annualized positive value of Interest Expense for the quarter that ended in Sep. 2023 was NZ$31,876 Mil. Westpac Banking's average total debt for the quarter that ended in Sep. 2023 was NZ$199,578 Mil. Therefore, Westpac Banking's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2023 was 15.97%.

Westpac Banking Effective Interest Rate on Debt % Historical Data

The historical data trend for Westpac Banking's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Westpac Banking Effective Interest Rate on Debt % Chart

Westpac Banking Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Effective Interest Rate on Debt %

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8.23

5.51

3.19

3.79

13.64

Westpac Banking Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															2.93	2.43	5.04	11.77	15.97

Competitive Comparison of Westpac Banking's Effective Interest Rate on Debt %

For the Banks - Diversified subindustry, Westpac Banking's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Westpac Banking's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Westpac Banking's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Westpac Banking's Effective Interest Rate on Debt % falls into.

Westpac Banking Effective Interest Rate on Debt % Calculation

Westpac Banking's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Sep. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Sep. 2022 )	+	Total Debt (A: Sep. 2023 ))	/ count )
=	-1 * -27560.032	/	( (198563.162	+	205602.065)	/ 2 )
=	-1 * -27560.032	/	202082.6135
=	13.64 %

where

	Total Debt (A: Sep. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	165583.923	+	32979.239
=	198563.162

	Total Debt (A: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	181019.622	+	24582.443
=	205602.065

Westpac Banking's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Mar. 2023 )	+	Total Debt (Q: Sep. 2023 ))	/ count )
=	-1 * -31875.802	/	( (193553.369	+	205602.065)	/ 2 )
=	-1 * -31875.802	/	199577.717
=	15.97 %

where

	Total Debt (Q: Mar. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	193553.369	+	0
=	193553.369

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	181019.622	+	24582.443
=	205602.065

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is two times the semi-annual (Sep. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Westpac Banking (NZSE:WBC) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Westpac Banking Effective Interest Rate on Debt % Related Terms

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Westpac Banking (NZSE:WBC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Westpac Banking Corp (NZSE:WBC) » Definitions » Effective Interest Rate on Debt %

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WEBNF:USA WBC:Germany WBCPL.PFD:Australia WBCPK.PFD:Australia WBCPJ.PFD:Australia WBCPI.PFD:Australia WBCPH.PFD:Australia WBCPG.PFD:Australia WBCPF.PFD:Australia WBC:Australia

Address

275 Kent Street, Sydney, NSW, AUS, 2000

Website

https://www.westpac.com.au

Westpac is Australia's oldest bank and financial services group, with a significant franchise in Australia and New Zealand in the consumer, small business, corporate, and institutional sectors, in addition to its major presence in wealth management. Westpac is among a handful of banks around the globe currently retaining very high credit ratings. The bank benefits from a large national branch network and significant market share, particularly in home loans and retail deposits.