Westpac Banking (ASX:WBCPK.PFD) Credit Losses Provision : A$647.00 Mil (As of Sep. 2023)

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What is Westpac Banking Credit Losses Provision?

Westpac Banking's credit losses provision for the six months ended in Sep. 2023 was A$258.00 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Sep. 2023 was A$647.00 Mil.

Westpac Banking's quarterly credit losses provision increased from Sep. 2022 (A$193.00 Mil) to Mar. 2023 (A$389.00 Mil) but then declined from Mar. 2023 (A$389.00 Mil) to Sep. 2023 (A$258.00 Mil).

Westpac Banking's annual credit losses provision increased from Sep. 2021 (A$-567.00 Mil) to Sep. 2022 (A$333.00 Mil) and increased from Sep. 2022 (A$333.00 Mil) to Sep. 2023 (A$647.00 Mil).

Westpac Banking Credit Losses Provision Historical Data

The historical data trend for Westpac Banking's Credit Losses Provision 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 Credit Losses Provision Chart

Westpac Banking Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Credit Losses Provision

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794.00

3,158.00

-567.00

333.00

647.00

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
Credit Losses Provision	Get a 7-Day Free Trial															-200.00	140.00	193.00	389.00	258.00

Westpac Banking Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Sep. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$647.00 Mil.

Westpac Banking (ASX:WBCPK.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Westpac Banking Corp (ASX:WBCPK.PFD) » Definitions » Credit Losses Provision

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Traded in Other Exchanges

WEBNF:USA WBC:New Zealand WBC:Germany WBCPL.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.

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