Big bank profits the price for stability, Bollard says

Thu, 27 Sep 2012

By Paul McBeth Sept. 27 (BusinessDesk) - New Zealand's big four Australian-owned banks earn more out of the nation than banks in most other countries, but that's the price that must be paid for a sound financial system, according to former Reserve Bank governor Alan Bollard. Regulation of the big four banks - ANZ National Bank, Bank of New Zealand, Westpac Banking, and ASB Bank - has improved during Bollard's decade-long tenure, and lenders have been efficient and dynamic, he said in an interview for the Reserve Bank Bulletin. Still, he ques...

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