Westpac New Zealand Economic and Sustainability Strategy Update
Agribusiness portfolio
Agribusiness Portfolio
Mar-20
Sep-20
Mar-21
2
1
Total committed exposure (TCE)
($bn)
13
9.6
10.0
10.1
Agriculture as a % of total TCE
7.6
7.9
7.7
20
% of portfolio graded as 'stressed'1
9.8
8.2
8.0
% of portfolio in impaired
0.48
0.48
0.29
Dairy Portfolio
Mar-20
Sep-20
Mar-21
Total committed exposure (TCE)
6.3
6.5
6.4
($bn)
Dairy as a % of total TCE
5.0
5.1
4.9
% of portfolio graded as 'stressed'1
12.0
10.1
9.6
% of portfolio in impaired
0.22
0.21
0.21
1 Includes impaired exposures
Portfolio TCE by sector (%)
■Dairy cattle
■Grain, sheep & beef
■Horticulture & fruit
49
64
■Fishing
Other livestock farming
Highlights
Dairy farmers continuing to repay debt. Low overall portfolio growth with increases mainly in
horticulture, and other farming activities
Dairy stressed assets reduced in the half - continuing to monitor customers with higher debt
levels
Rural land market remains challenging, although price stability and increased sales activity
for smaller dairy farms and support blocks now evident
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