Westpac Share Price: Why the Stock Closed Higher After UNITE Update
Westpac shares rose 0.69% to A$40.74 after the bank confirmed its UNITE overhaul had moved from planning to execution, with A$195 million invested in the first quarter. The bank sold a 1 billion euro covered bond and said the cost to build its mortgage tech system rose to A$285 million. About 75,000 commercial accounts will migrate by 2028. The Reserve Bank of Australia raised rates to 4.1% this month.