Australian lender Westpac seeks to raise $1.7b as profit slides 15%

Australian lender Westpac seeks to raise $1.7b as profit slides 15%

FILE PHOTO: Pedestrians hold umbrellas as they walk past a branch of the Westpac Banking Corp in central Sydney, Australia, March 30, 2017. REUTERS/David Gray/File Photo

Westpac Banking Corp is looking to raise A$2.5 billion ($1.73 billion) in capital from shareholders after reporting a 15% slide in full-year cash earnings and making its first dividend cut in a decade.

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