Westpac Banking Profit Plunges 15%

The video discusses Westpac's financial challenges, including costs from misconduct and low interest rates affecting margins. It highlights the first drop in earnings since 2009, linked to the global financial crisis aftermath. To address these issues, Westpac plans to raise capital through a $2 billion share issue, offering shares at a discount to attract investors and retail shareholders.

What is the significance of the 2 billion share issue for Westpac?

Why are Westpac's shares frozen for trading on the market?