$WESTPAC BANKING CORPORATION(WBC.AU)$ is the most undervalued of the Big 4 Australian Banks. It is also the 2nd largest and oldest bank in Australia.
The Reserve Bank of Australia has just increased its interest rate by 25 BP today, the first in a decade to curb high inflation. This will benefit the banks as their Net Interest Margin will increase.
$WESTPAC BANKING CORPORATION(WBC.AU)$ also has a wide moat as it is not easy to switch banks. It is profitable and very stable. Best of all it also pays steady dividends year after year, making it a great investment for passive income.
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Good buys