What is the point of the banking inquiry?

ANZ's NZ chair Scott St John and CEO Antonia Watson were first to appear before the select committee inquiry into banking competition. (Image: NZME)

Pattrick Smellie

Wed, 06 Nov 2024

Two hearings in, and the question needs to be asked: what is the point of the finance and expenditure select committee inquiry into banking competition?The sessions with the ANZ a fortnight ago and this morning’s with Rabobank’s New Zealand chair, Chris Black, and chief executive Todd Charteris have been, to put it mildly, fruitless.Neither team has faced questions that placed them under any significant pressure.There were two main reasons for that.Firstly, too many of the questions were either unfocused or didn't concern bankin...

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