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.”
1 Based on 31 December 2021 capital position.