Since May, the Reserve Bank of Australia (RBA) has increased its key rate by 175 basis points, which the “Big Four”, the country’s four largest creditors, have passed on in full to their clients.
Australia’s third-largest creditor said the CET1 capital ratio, a measure of available cash, fell to 10.75% at the end of June, from 11.3% at the end of March.
Westpac said its total assets at risk of default at the end of the quarter were A$1.213 billion, down from A$1.184 billion at the end of March.
The creditor did not disclose a profit figure for the quarter, but said cash gains were partially offset by higher deductions for capitalized software and other regulatory deductions.
Last week, arch-rival Commonwealth Bank of Australia warned that spiraling cost-of-living pressures had begun to affect consumer confidence, while National Australia Bank issued another warning of rising costs. costs.