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How to buy Westpac shares (WBC)

Learn how to easily invest in Westpac shares on the NZX.

Westpac Banking Corporation is one of Australia’s “big four” banks and has been operating in New Zealand since 1861. Shares in the company are listed on the Australian Securities Exchange (ASX) and the New Zealand Stock Exchange (NZX).

Keep reading for a step-by-step guide to buying Westpac shares on the NZX.

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How to buy shares in Westpac on the New Zealand Exchange

  1. Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table. Most importantly, you need to find a share trading platform that allows you to trade on the NZX.
  2. Open and fund your share trading account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Westpac. Find the stock by name or ticker symbol: WBC. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Westpac reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market’s ups and downs. You may be able to buy a fractional share of Westpac, depending on your share trading account.
  6. Check in on your investment. Congratulations, you own a part of Westpac. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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ASB Securities
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Direct Broking
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Westpac overview and background

Westpac started life as the Bank of New South Wales in 1817, and first started operating in New Zealand in 1861. After acquiring the Commercial Bank of Australia in 1982, it changed its name to Westpac Banking Corporation. Westpac also made several major acquisitions in the 1990s, including Trust Bank New Zealand and the Bank of Melbourne.

Westpac merged with St.George Bank Limited in 2008, with St.George Bank later becoming a division of the Westpac Group.

Westpac is one of the “big four” banks and one of the top five companies in Australia by market capitalisation. Headquartered in Sydney, the bank and its brands provide banking services to more than 14 million customers.

Performance and company results

On Monday, 2nd November 2020, Westpac announced its full-year financial results for the 12 months ending 30 September 2020. Key figures included:

  • Statutory net profit of $2,290m, down 66%
  • Cash earnings of $2,608m, down 62%
  • Cash earnings per share of 72.5c, down 63%
  • A fully franked final dividend of 31 cents per share

Key details

NameWestpac Banking CorporationIndustryBanks-Diversified
Ticker symbolWBCISINAU000000WBC1
TypeOrdinary sharesDate listed on NZX18 May 1992
End of financial yearSeptemberChief executive officerPeter King
Disclaimer: This information should not be interpreted as an endorsement of stocks, ETFs or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Stocks and ETFs trading involves substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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