Nat's Willis calls for select committee inquiry into retail banking

Bank customers deserve answers, says Nicola Willis, National's finance spokesperson. (Image: NZME)

Wed, 08 Mar 2023

The National party is calling for a select committee inquiry into retail banking regulation and competition. Major banks have come under scrutiny for reporting large profits at a time when the average consumer is being squeezed by inflation pressures.ASB Bank reported an 11% increase in cash net profit to $822 million for the six months to December. Reserve Bank of New Zealand data for the last quarter of 2022 showed net interest margins (NIM) – the profitability of banks’ lending business – increased by 6 basis poin...

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