Westpac

Home loan customers can create up to 10 offset accounts.

The bank suggested a more flexible approach to risk tolerance in property construction in select cases.

The higher payouts in H1 were to establish shareholders’ confidence, S&P said.

The removal of the add-on takes effect this 1 September.

The Australian lender faces paying up to $81m for charging fees to dead people.

Westpac is one of Australia’s four major lenders.

It is also hit with one-off costs from the sale of its insurance arm and specialist business.