Newsroom
Amid fears for small players, big banks agree to a competition inquiry
15/03/2023
“We often hear about bank profits going overseas,” says chief executive Roger Beaumont. “That’s half the story. Banks also spend a lot of money here and pay a lot of tax. They actually spend more here than they take away in profits.” He says the net positive contribution to the economy is $1.92 billion. “And that’s...
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Newsroom
NZ fund’s $6m exposure to bank collapse amplifies calls for local protection
14/03/2023
“Profitable and well-regulated banks are strong banks, and our banks came through the global financial crisis without failures or government bailouts.”
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KPMG
Fasten your seatbelts
14/03/2023
We continue to live in interesting times. Since the arrival of Covid-19 three years ago, provoking an unprecedented response around the world and in New Zealand, nothing seems quite the same. While New Zealand weathered the Covid onslaught relatively well compared to other countries, the economic consequences are still very much with us. Added to...
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NZ Herald
Liam Dann: Without appetite for real change, banking inquiry is just political theatre
12/03/2023
The National Party this week called for a short, sharp Select Committee inquiry. The Banking Association welcomed National’s call, which is a pretty good indication of how worried the industry was about it.
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Good Returns
National calls for banking enquiry; Banks think it’s a good idea
09/03/2023
“There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition,” Beaumont said.
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Business Desk
Banks ‘welcome’ prospect of an inquiry
08/03/2023
“The industry would welcome the opportunity to discuss bank profits and the contribution banks make to support the New Zealand economy, households and businesses,” NZ Banking Association chief executive Roger Beaumont said.
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Newshub
Government wants levy to pay for new banking system
08/03/2023
“If you wanted to switch banks today you would simply go into the new bank and sign an authorisation form and all of that process would happen behind the scenes within five working days,” said Roger Beaumont of the New Zealand Banking Association.
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NZ Herald
Bank profits: Grant Robertson says select committee ill-equipped to conduct an inquiry
08/03/2023
“The industry would welcome the opportunity to discuss bank profits and the contribution banks make to support the New Zealand economy, households and businesses,” Beaumont said. “There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition.”
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TVNZ
All parties keen for select committee banking inquiry except Labour
07/03/2023
“There’s also legislation in the pipeline to help people safely share their banking information with other service providers, which will support even more competition.”
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Newshub
Market study into banks on cards as Govt faces pressure to investigate eyewatering profits
07/03/2023
Banks are back under the microscope as the Government faces mounting pressure to investigate their eyewatering profits.
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