Westpac Profit Plunges on Bad-Debts, Laundering Fine

The video discusses Westpac's regulatory challenges and the impact on its cash earnings, highlighting the transformation strategy led by CEO Peter King. It suggests that the worst may be over for the bank's operations. The video also examines the future of Westpac, focusing on bad loan provisions and the potential economic impact as income support packages roll off. Despite some positive signs, there is concern that banks are not yet out of the woods.

What impact will Australia's income support packages rolling off have on the economy's health?

What does the future hold for Westpac in terms of their mortgage repayments?