What’s at stake: Competition in the New Zealand banking sector.
Background: ASB published its half-year results today, as well as further submissions to the banking inquiry at the Finance and Expenditure Select Committee.
Main players: ASB, Vittoria Shortt, CBA, Kiwibank, fintechs, open banking, Simplicity, Sam Stubbs, Finance and Expediture Select Committee.
Australian-owned ASB has reported a half-year profit increase, helped by a rise in operating income and lending volumes.
The bank’s statutory net profit rose 2% to $763 million in the six months to the end of December. That came as operating income increased by 4%, driven by increased lending
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Key points
What’s at stake: Competition in the New Zealand banking sector.
Background: ASB published its half-year results today, as well as further submissions to the banking inquiry at the Finance and Expenditure Select Committee.
Main players: ASB, Vittoria Shortt, CBA, Kiwibank, fintechs, open banking, Simplicity, Sam Stubbs, Finance and Expediture Select Committee.
