Have banking regulators done enough to enable real competition?
ANALYSIS: The fact NZ banks aren’t taking on more risk than those in other countries, but generate far higher returns, is intriguing.
Tobias Newton
Tue, 13 Jun 2023
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
How profitable are New Zealand’s banks? Seems a fair question after 525 basis points of rate hikes in 20 months and the highest official cash rate (OCR) in nearly 15 years.
Well, in the year to March 31, 2023, banks made close to $10 billion in pre-tax profits, up 8.7% from the prior year. That
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Tobias Newton
Tue, 13 Jun 2023
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
