Sydney, Feb 24, 2026, 16:56 AEDT — Market closed.
- Westpac finished the session 1.5% higher at A$42.65, just shy of its recent peak.
- Banks held the line as the ASX 200 closed unchanged.
- Next up for investors: Westpac’s interim results and dividend decision, slated for May 5.
Westpac Banking Corp WBC.AX closed Tuesday at A$42.65, up 1.5% or A$0.61 on the day. Shares changed hands between A$41.79 and A$42.65, with approximately 5.6 million traded.
The S&P/ASX 200 index finished just 0.04% lower, after slipping under 9,000 points earlier—hardly any change by the close, though that brief dip underscored how quickly sentiment can shift.
Westpac took the opportunity to lean into home-loan sales, introducing a “Book a Banker” tool that allows customers to schedule a lender appointment however they want—by phone, video, in the branch, or even somewhere else. “We know our customers are juggling work, family and everything in between, so the tool was designed to fit around busy lives,” Westpac Managing Director of Mortgages James Hutton said in a statement. Westpac
It’s relevant, given mortgage competition has turned fierce — boosting conversion and holding onto customers are now the simplest ways to eke out growth. Westpac earlier this month announced a 0.25 percentage point hike in variable home loan rates after the Reserve Bank of Australia’s cash rate move, a reminder of how sharply pricing shifts can trigger renewed attention on customer churn.
The move comes as investors have already been bidding up bank stocks on the back of resilient earnings. But Macquarie and Morgan Stanley analysts flagged in Market Index that pricey valuations now mean little margin for disappointment—despite a reporting season that saw most of the majors top forecasts.
Westpac’s latest figures capture both sides of the story. The Feb. 13 quarterly update showed net profit before notable items hitting A$1.9 billion. Net interest margin (NIM) dropped again, landing at 1.94%, as competition ate into returns; “core” NIM slipped three basis points, coming in at 1.79%. The bank’s common equity tier 1 (CET1) ratio, a key capital strength metric, was reported at 12.3%. Westpac
Shares in Westpac remain near their recent highs. Investing.com lists the 52-week range topping out at A$43.05.
There’s also a bullish scenario in play. Earlier this month, Reuters cited Westpac, which pointed to steady credit demand staying intact despite ongoing margin pressure—a balance that could swing fast if either funding costs tick up or loan growth loses steam.
Traders head into the next session eyeing offshore signals, following a turbulent stretch in global markets as U.S. tariff questions and shifting sentiment in AI-linked tech names begin to spill over into wider risk appetite.
Westpac’s next key event lands on May 5, with interim results and its interim dividend announcement on deck; its half-year wraps up March 31.
Related articles: ASX:WBC.AX
