The sound and fury of excess bank profits

The personal banking touch is under scrutiny. (Image: Getty)

Thu, 28 Sep 2023

The battle lines are being drawn, and the big four Aussie-owned banks are doing their darnedest to avoid being tarred with the regulator’s excess-profits brush. Unfortunately for them, it almost seems a fait accompli that they will be accused of exercising their massively dominant collective position in extracting big old profits from little old New Zealand. That’ll teach them for daring to be big and get bigger, but unfortunately, it won’t be very useful in triggering a meaningful change in the domestic banking market wh...

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