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 NewtonTue, 13 Jun 2023
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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