(Image: AAP/Private Media)

Westpac's full year results are in, and they're hard to hear for bank investors.

Retirees relying on Westpac dividends to buy their Bushells tea might be making mugs of hot water after the bank's profits collapsed in 2019-20.

Of course everything is relative in the world of banks. It is not as if Westpac actually made a loss. It still made billions in profit. Just $6 billion less than usual.