Bankers just want a fair return to shareholders

Antonia Watson says banks need to attract capital in NZ. (Image: Supplied)

Wed, 23 Oct 2024

“We need to provide our shareholders a fair return.”This was the key point ANZ New Zealand chief executive Antonia Watson made to politicians, as they grilled her for their inquiry into banking sector competition.Watson defended ANZ NZ’s profitability, saying it’s at the level required to get shareholders to invest in the bank.“Our return on equity ... is at or mostly above our cost of capital,” she said.“[It is] just the amount that shareholders like to get to say, &l...

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