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Bank profits and National's CoFI 'spanner'

KPMG survey finds combined net profit climbs to $1.74 billion in the June quarter.

WATCH: KPMG partner John Kensington speaks with Jonathan Mitchell.

KPMG has weighed in on National's surprise announcement last month it would ditch the CoFI regime, saying it “threw a spanner in the works” and created a level of uncertainty around what was a “well-accepted regulatory change” and would likely lead to more court action.

The Big Four firm's

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Contact the Writer: jmitchell@nbr.co.nz
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Bank profits and National's CoFI 'spanner'
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