An expert says a probe into banking may not be the fix for issues in the sector.

Latest figures from KPMG show bank profits reached a record high $7.15 billion in the year to September, up 17 percent on the year before.

It comes after the Government voted against a select committee inquiry into banking, instead considering whether to order a Commerce Commission market study.

Squirrel Mortgages' David Cunningham told Mike Hosking an inquiry probably wouldn't create much change.

LISTEN ABOVE

An expert says a probe into banking may not be the fix for issues in the sector.
Latest figures from KPMG show bank profits reached a record high $7.15 billion in the year to September, up 17 percent on the year before.
It comes after the Government voted against a select committee inquiry into banking, instead considering whether to order a Commerce Commission market study.
Squirrel Mortgages' David Cunningham told Mike Hosking an inquiry probably wouldn't create much change.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.