Oct 26 (Reuters) - Westpac Banking Corp WBC.AX :
* ITS CASH EARNINGS IN 2H20 WILL BE REDUCED BY $1,220M (AFTER TAX)
* CASH EARNINGS IN 2H20 WILL BE REDUCED BY $1,220M (AFTER TAX) ARISING FROM NOTABLE ITEMS
* NOTABLE ITEMS INCLUDE NEW ITEMS OF $816M (AFTER TAX), WITH PREVIOUSLY ANNOUNCED ADDITIONAL $404M PROVISION (AFTER TAX) FOR AUSTRAC MATTERS
* NOTABLE ITEMS ARE ESTIMATED TO REDUCE GROUP'S CET1 CAPITAL RATIO BY 24 BASIS POINTS
* SALE OF ZIP EXPECTED TO RESULT IN A PRE-TAX GAIN ON SALE OF ABOUT $26M TO BE REFLECTED IN WESTPAC'S 1H21 RESULTS
* CREATION OF SPECIALIST BUSINESSES DIVISION INCLUDES MOVING BUSINESSES FROM CONSUMER, BUSINESS AND WIB DIVISIONS
* CREATION OF SPECIALIST BUSINESSES DIVISION INCLUDES REALLOCATING CERTAIN CENTRALLY MANAGED COSTS ACROSS DIVISIONS