How profitable are New Zealand’s banks?

How profitable are New Zealand’s banks?
New Zealanders see bankers as self-satisfied fat cats. (Image: Corrections)
Pattrick Smellie
New Zealand is a good country in which to run a bank.The numbers tell us that, although not the same numbers as most of the popular outrage about bank profits are looking at.The fact that ANZ’s NZ arm racked up an annual net profit above $2 billion for the first time doesn’t say anything about its profitability other than that it is a very large business.“I think we all agree, having a really strong, stable banking system is really important to NZ,” the BNZ’s chief executive, Dan Huggins, said yesterday after the b...

More Finance

ANZ admits 'unacceptable failure' as bond probe continues
Finance

ANZ admits 'unacceptable failure' as bond probe continues

Regulator is investigating the bank over its bond turnover data.

AAP 25 Jul 2024
ComCom will try to bring down PayWave, credit card surcharges
Finance

ComCom will try to bring down PayWave, credit card surcharges

Card industry tried to regulate itself, Govt has tried, now it is ComCom's turn.

Staff reporters 23 Jul 2024
Massive cyber outage cripples banks and other organisations worldwide
Finance

Massive cyber outage cripples banks and other organisations worldwide

A major cybersecurity outage has taken out computer-reliant services

Dileepa Fonseka 19 Jul 2024