Westpac is Australia's oldest bank (est. 1817) and one of the Big Four. Under CEO Anthony Miller it is mid-way through a simplification strategy β divesting wealth management, insurance, and Pacific operations to refocus on core Australian and New Zealand banking. The 'fix' phase of the transformation is largely complete after AUSTRAC AML remediation; 'perform' phase is now the focus. Trades at a discount to CBA on ROE and digital capability metrics, but dividend yield of ~5.5% and buybacks make it an income play while the turnaround matures.
Thesis reviewed May 29, 2026
Westpac Banking Corporation is headquartered in Australia, which is currently showing moderate signals.
π¦πΊAustralia64NEUTRALView Australia risk detail βπ¦Financials100NEUTRAL| Ticker | Company | Score | Gap | Signal Ξ | Action |
|---|---|---|---|---|---|
| GGAL | Grupo Financiero Galicia S.A. | 90 | +13% | β53% | ENTRY |
| MELI | MercadoLibre | 90 | -14% | β53% | AVOID |
| BBAR | BBVA Banco BBVA Argentina SA | 90 | +21% | β53% | ENTRY |
| BBD | Banco Bradesco S.A. (preferred ADR) | 90 | +5% | β53% | NEUTRAL |
| VIV | Telefonica Brasil (Vivo) | 90 | +8% | β53% | ENTRY |
| UBS | UBS Group AG | 90 | +17% | β53% | ENTRY |
| CIB | Bancolombia S.A. | 90 | +9% | β53% | NEUTRAL |
Investors who hold WBC.AX may also have indirect exposure through these country funds.
Westpac Q4 NIM stabilises at 1.87%; mortgage repricing partially offsets deposit competition
Technology simplification: Westpac exits Pacific banking; capital freed for buyback
Digital adoption accelerating: 68% of home loan applications now fully digital
Estimates Β· Yahoo Finance Β· Not audited figures