What’s at stake: Competition and fairness in the banking sector to benefit customers amid sky-high profits and a capital raise process for Kiwibank.
Background: Parliament’s banking inquiry made multiple recommendations to improve competition as open banking kicks in and the RBNZ relaxes capital requirements for retail banks.
Main players: Kiwibank, Steve Jurkovich, ANZ, Antonia Watson, ASB, Vittoria Shortt, BNZ, Dan Huggins, Westpac, Catherine McGrath, Commerce Commission, Finance and Expenditure Select Committee, Morningstar.
Open banking is finally here. The Reserve Bank has tweaked capital requirements for retail banks. Kiwibank has a mandate to grow. These have all been big milestones for the banking sector over the past year.
Yet, the Big Four Aussie-owned banks are still making sky-high profits. The country’s
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Key points
What’s at stake: Competition and fairness in the banking sector to benefit customers amid sky-high profits and a capital raise process for Kiwibank.
Background: Parliament’s banking inquiry made multiple recommendations to improve competition as open banking kicks in and the RBNZ relaxes capital requirements for retail banks.
Main players: Kiwibank, Steve Jurkovich, ANZ, Antonia Watson, ASB, Vittoria Shortt, BNZ, Dan Huggins, Westpac, Catherine McGrath, Commerce Commission, Finance and Expenditure Select Committee, Morningstar.
