Renewed calls for focus on bank profits

Renewed calls for focus on bank profits
(Image: Getty)
Jem Traylen
The National and Green parties are calling on the government to act on bank profits, following a Reserve Bank of New Zealand report which showed the country's major banks are among the most profitable in the world.Earlier this week, the Reserve Bank issued its six-monthly financial stability report which showed NZ banks had the highest rates of return on equity among comparable countries.On Thursday, BNZ announced a 13.5% increase in first-half profit, as widening margins more than offset growing charges for bad debts and rising costs.Open...

More Finance

FNZ employee shareholders revolt over latest capital raise
Finance Exclusive

FNZ employee shareholders revolt over latest capital raise

Long-standing employees believe new raise halves their holdings.

Victoria Young 14 Mar 2025
Washington plans to open private funds to more investors
Finance

Washington plans to open private funds to more investors

 Momentum builds to change rules blocking most Americans from investing in private equity.

NZME board spill attempt - opponents near 40%
Finance

NZME board spill attempt - opponents near 40%

The bid is currently just under 11% short of the necessary numbers to succeed.

Pattrick Smellie 06 Mar 2025
Adrian Orr stands up Ben Bernanke
Finance

Adrian Orr stands up Ben Bernanke

The former Fed chair is in NZ for the central bank's marquee conference this week.

Pattrick Smellie 06 Mar 2025