Westpac will include A$429 million of notable items in its 2022/23 results, which will be announced on November 6.

The costs and write-downs, which include remediation payments, litigation costs, restructuring costs and write-downs associated with branch closures, will be offset by a gain of $256 million from the sale of Advance Asset Management.

The net effect will be a $173 million reduction in net profit.

The bank will report $140 million of costs associated with its organisational simplification program and discontinuation of specialist businesses.

It will report an $87 million write-down of property assets related to a reduction in corporate office space and consolidation of branches.

It will report a hedging loss of $26 million.

And it will report a $176 million loss related to remediation, litigation, fines and penalties, and a levy for the Compensation Scheme of Last Resort. The CSLR levy is $42 million.

Despite the big banks reporting that their remediation programs are winding down, Westpac will report a $90 million increase in its provisions for costs associated with customer remediation programs, regulatory investigations and litigation.

The bank is expected to report net profit of around $7.5 billion for the year to September, up from $5.7 billion in 2021/22.