Media releases

Westpac successfully completes A$3.5 billion off-market share buy-back

14 February 2022

 

Westpac Banking Corporation (Westpac) today finalised its off-market share buy-back (Buy-Back).
 

  • Completion of A$3.5 billion Buy-Back following strong demand
  • Approximately 167.5 million Westpac shares bought back, representing 4.6% of issued capital
  • Common equity tier 1 capital ratio reduces by 79 basis points1
     

Westpac CFO, Michael Rowland, said: “We are very pleased to have completed the $3.5 billion Buy-Back, reducing the number of shares outstanding by 4.6% of issued capital. The Buy-Back improves our capital efficiency, returns franking credits and reduces our share count for the benefit of all shareholders. Westpac’s capital position remains strong after completing this Buy-Back.”
 

For more information see full ASX statement. (PDF 113KB)

Media Contact:

westpacmediarelations@westpac.com.au

 

1 Based on 31 December 2021 capital position.