Westpac (ASX: WBC) Share Price and News Today

Westpac Banking Corporation’s (ASX: WBC) share price heads into Thursday’s session sitting near the middle of its 12‑month range, with investors digesting a fresh wave of ESG financing deals, new partnerships in New Zealand, and ongoing regulatory ripples that all shape the outlook for the bank and its stock.

Westpac share price snapshot for 27 November 2025

Westpac shares last closed at A$37.86 on Wednesday, 26 November 2025, down about 0.6% for the day after trading between A$37.75 and A$38.47. ^[1]

Despite the soft session, the stock remains up around 17% in 2025, and sits in the upper half of its 12‑month range of roughly A$28.4 to A$41.0, keeping Westpac firmly positioned as one of the largest and most closely watched names on the ASX 200. ^[2]

On a trailing basis, Westpac has paid A$1.53 per share in dividends over the past year, including a 77 cent fully franked final dividend for FY25, payable on 19 December 2025, with additional New Zealand imputation credits for trans‑Tasman investors. ^[3] At Wednesday’s close, that puts the trailing cash dividend yield at about 4.0%, before factoring in the value of franking credits.

For Thursday’s trade (27 November), live pricing will depend on intraday moves, but the latest available data suggest Westpac is entering the session from a position of solid year‑to‑date gains and a still‑attractive income profile relative to many large‑cap peers.

Today’s key Westpac news drivers (27 November 2025)

Several new developments hitting the wires today and in the past 24 hours are in focus for Westpac shareholders:

1. $180m Social Loan conversion – Westpac as sustainability coordinator

A major ESG‑linked financing move landed this morning via an ASX announcement from Eureka Group Holdings (ASX: EGH).

Eureka has converted all of its A$180 million facilities with Westpac and NAB into Social Loans, aligned with globally recognised Social Loan Principles under its Sustainable Finance Framework. ^[4]

Key details for Westpac investors:

Westpac is the Sole Sustainability Coordinator on the transaction, strengthening its credentials in sustainable and social finance. ^[5]
Of the A$180 million facility, A$90 million is designated as a Social Loan with Westpac, and A$90 million with NAB. ^[6]
Proceeds will go towards:
- Delivering affordable housing for Eureka’s residents, and
- Green upgrades across eligible villages – including rooftop solar, battery storage and energy‑efficiency projects designed to cut emissions and resident energy costs. ^[7]
There is no change to pricing, covenants, ranking or security, meaning the conversion is primarily an ESG and disclosure upgrade rather than a risk or margin step‑change for lenders. ^[8]

Westpac Institutional Bank CEO Nell Hutton said the bank is proud to support a transaction that links funding directly to affordable housing and green upgrades, framing the deal as part of Westpac’s push to direct capital into projects that improve housing supply and affordability. ^[9]

Why it matters for WBC:

Reinforces Westpac’s strategic push into sustainable and social lending, an increasingly important differentiator with institutional clients and regulators.
Adds to Westpac’s ESG story at a time when investors are screening banks not just on profitability and dividends, but on where and how they deploy capital.
The facility size is modest relative to Westpac’s balance sheet, but symbolically important for its institutional banking franchise and reputation.

2. New insurance distribution partnership: Tower & Westpac NZ

In New Zealand, insurer Tower Limited (NZX/ASX: TWR) released its FY25 results this morning, and tucked inside was a notable partnership announcement involving Westpac New Zealand.

Tower reported record FY25 underlying profit and increased dividends, and flagged that it has entered into a new partnership with Westpac NZ. From July 2026, Tower will offer general insurance products to Westpac NZ’s retail customers. ^[10]

Highlights from Tower’s statement:

Tower delivered a record underlying NPAT of NZ$107.2 million and strong customer growth. ^[11]
As part of its growth plan, Tower is strengthening distribution via strategic partnerships, including the future general insurance tie‑up with Westpac NZ for retail customers. ^[12]

Potential implications for Westpac:

The partnership gives Westpac NZ a refreshed insurance offering to cross‑sell into its banking customer base, potentially deepening customer relationships and adding fee‑type income streams over time.
While the earnings impact will emerge only from FY27 onwards, the announcement underlines Westpac’s strategy of leveraging partners rather than owning every product manufacturing capability outright in New Zealand.

3. Regulatory reminder: AIOFP warns advisers using Westpac general‑advice case

On the regulatory front, the Association of Independently Owned Financial Professionals (AIOFP) has today warned advisers about shifting into “general advice” models without fully understanding the legal risks – and used Westpac’s High Court loss as Exhibit A. ^[13]

In an article published this morning, AIOFP executive director Peter Johnston urged members to tread carefully, pointing to policy expert Lionel Rodrigues’ paper on the issue. The piece notes that:

ASIC secured a “very conclusive victory in the High Court against Westpac” in a case where the bank argued it was merely providing product information rather than personal advice – an argument the court rejected. ^[14]
The Westpac case (sometimes referred to as the “General Advice Case”) involved communications to BT Super customers encouraging rollovers, which the court deemed to constitute advice, triggering higher obligations. ^[15]

Why this still matters for WBC shareholders:

The case itself is not new, but today’s fresh commentary shows Westpac’s legal history remains a live reference point in regulatory and industry debates.
It underlines the ongoing conduct and advice‑risk sensitivity around Westpac and the broader banking sector – a factor that can influence compliance costs, reputation, and how regulators respond to future incidents.

4. Fresh macro backdrop: card payments, Fed expectations and NZ rate moves

Today’s trading backdrop for Westpac shares is also being shaped by broader macro and regulatory themes:

RBA Payments System Board – merchant costs and transparency

A new Banking Day article dated 27 November details an update from the RBA’s Payments System Board (PSB) on its review of merchant card payment costs and surcharging. ^[16]

Key points:

The PSB has been examining whether interchange fee reductions are fully passed through to merchants.
It noted the risk that some of the benefits may not reach merchants without further regulatory intervention, and is exploring options to enhance competition and transparency in acquiring. ^[17]
The Board expects to release conclusions and an implementation timeline for any regulatory action by March 2026. ^[18]

For Westpac, one of Australia’s major merchant acquirers, this raises the possibility of future changes to card economics, which can influence fee revenue and investment in payments infrastructure over time.

Westpac’s own Morning Report: Fed cuts in focus

In its Morning Report for 27 November 2025, Westpac’s economics team highlights that markets are increasingly pricing in US Federal Reserve rate cuts, with futures suggesting around an 80% probability of a near‑term cut. ^[19]

Lower global rates over the medium term can:

Put pressure on bank margins if funding costs fall slower than lending rates.
Support asset prices and credit demand if lower rates sustain risk appetite and refinancing activity.

Westpac NZ’s quick response to OCR cuts (published yesterday)

A separate development, dated 26 November, is still highly relevant to today’s outlook. Westpac NZ announced it will:

Cut variable home loan rates by 0.20 percentage points and most variable business lending rates by 0.25 points, following the latest OCR reduction.
Implement the new variable lending rates from 1 December for new borrowers and 4 December for existing customers.
Hold the rate on its Notice Saver deposit product at 3.00% p.a., despite the OCR cut, positioning itself as offering a stronger deal to savers. ^[20]

The bank also noted that nearly 90% of its home loan customers are on fixed rates, and highlighted independent analysis showing Westpac consistently offering some of the lowest fixed home loan rates among New Zealand banks over the past two years. ^[21]

For Westpac Group investors, this signals:

Margin trade‑offs between passing on OCR cuts to borrowers and defending deposit pricing.
A focus on customer value and competitive positioning in New Zealand, an important contributor to group earnings.

Fundamental backdrop: FY25 result and dividend profile

While today’s price action will be shaped by the fresh news above, the foundation for WBC’s valuation in late November 2025 is still its recently released FY25 result.

Profit and margin

Westpac reported statutory net profit after tax of about A$6.9–7.0 billion for FY25, down roughly 1–2% on FY24 but slightly ahead of many analyst forecasts. ^[22]

According to recent coverage, key FY25 metrics included:

Slightly lower overall profit, reflecting competitive mortgage pressures and a small decline in net interest margin (NIM) – around 1.94–1.95%, down a basis point year‑on‑year, with some second‑half improvement. ^[23]
Rising operating expenses, up around 9%, driven by the Unite technology transformation program, restructuring charges (including a A$273m restructuring cost flagged for 2H FY25), and higher staff costs. ^[24]
Solid business and institutional lending growth, double‑digit in some segments, and improved credit quality with lower overdue loans. ^[25]

Dividend and capital

Westpac declared a fully franked 77 cent final dividend, taking total FY25 dividends to A$1.53 per share. ^[26]

Important dates for shareholders:

Ex‑dividend date: 6 November 2025
Record date: 7 November 2025
Payment date: 19 December 2025

The Dividend Reinvestment Plan (DRP) is operating for the final dividend, with shares to be sourced on‑market rather than via new share issuance, limiting dilution. ^[27]

From a regulatory standpoint, Westpac’s capital position remains comfortably above minimum requirements, with APRA having closed out its enforceable undertaking relating to culture, governance and accountability issues from 2020 after Westpac completed its multi‑year CORE risk transformation program. ^[28]

Other recent risk and reputation themes

Beyond today’s headlines, investors are also weighing two ongoing themes that continue to frame sentiment around the stock:

Labour underpayments settlement

Last week, Westpac disclosed that it has repaid more than A$50 million to around 47,000 current and former employees for underpayments dating back to 2014, plus about A$9 million in interest and superannuation, under an enforceable undertaking with the Fair Work Ombudsman. ^[29]

The bank also agreed to an A$800,000 contrition payment and a suite of remediation and systems‑improvement measures, underscoring both the financial and reputational cost of payroll errors. ^[30]

Ongoing scrutiny of advice and hardship practices

Recent media and regulatory commentary has continued to reference past Westpac cases, including:

ASIC’s legal action over hardship processes, where a penalty of around A$10.5 million was imposed for failures to respond to hardship requests, with regulators and advocates still using the case to highlight bank responsibilities to customers in distress. ^[31]
The High Court “general advice” case highlighted again today by AIOFP (discussed above), reminding the market that advice and distribution practices remain in the regulatory spotlight. ^[32]

For shareholders, these issues reinforce that non‑financial risk management remains central to valuation, influencing everything from compliance spend to reputational risk premia.

What today’s news flow could mean for Westpac’s share price

Putting all of this together, here’s how the 27 November 2025 news mix may play into sentiment around Westpac shares:

ESG and institutional banking tailwinds
- The Eureka social loan conversion highlights Westpac’s ability to originate and lead sustainability‑linked financings, adding depth to its institutional franchise and aligning with investor demand for ESG‑positive lending activities. ^[33]
Growth options in New Zealand
- The Tower partnership gives Westpac NZ a future pipeline of insurance products to distribute, potentially enhancing fee income and customer stickiness from FY27 onwards. ^[34]
Margin sensitivity to rate cuts
- Westpac NZ’s swift OCR‑linked rate cuts show that the bank is prepared to deliver relief to borrowers while holding some deposit rates steady, a delicate balancing act that will be watched closely for its effect on group margins. ^[35]
Regulatory and conduct overhang remains in view
- Today’s AIOFP commentary and the recent labour‑underpayment settlement underline that conduct, advice and HR risk are still prominent in narratives around Westpac and the sector more broadly. ^[36]
Valuation anchored by solid, if unspectacular, FY25 result and dividends
- A near‑A$7bn net profit, a fully franked 77c final dividend and a roughly 4% trailing yield give fundamental support to the share price, even as markets weigh expense growth, ongoing transformation spend and regulatory developments. ^[37]

As always, how the share price moves today and in coming sessions will depend on market reaction to this mix of ESG, partnership, macro and regulatory news, plus broader ASX 200 sentiment and global risk appetite.

Important note

This article is general information only and does not constitute financial product advice or a recommendation to buy, hold or sell Westpac shares or any other security. It doesn’t take into account your personal objectives, financial situation or needs. You should consider seeking independent financial advice before making any investment decisions.