Banks are under pressure to deliver customers more value. 

ANZ's announced a 21% rise in annual profit days after Westpac confirmed a 13% rise. 

Finance Minister Nicola Willis says with bank profits this high, customers should be seeing breakthrough innovation or new technology. 

Simplicity Chief Economist Shamubeel Eaqub told Ryan Bridge we need our banks to be successful, but we also need them to compete for our business. 

He says we have a banking sector that's extraordinarily safe and profitable, but not very innovative, and we need to ask why we're paying so much for so little. 

LISTEN ABOVE 

Banks are under pressure to deliver customers more value.&nbsp;
ANZ's announced a 21% rise in annual profit days after Westpac confirmed a 13% rise.&nbsp;
Finance Minister Nicola Willis says with bank profits this high, customers should be seeing breakthrough innovation or new technology.&nbsp;
Simplicity Chief Economist Shamubeel Eaqub told Ryan Bridge we need our banks to be successful, but we also need them to compete for our business.&nbsp;
He says we have a banking sector that's extraordinarily safe and profitable, but not very innovative, and we need to ask why we're paying so much for so little.&nbsp;
LISTEN ABOVE&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Shamubeel Eaqub: Simplicity Chief Economist on banks returning high profits with low levels of innovation

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2a2588c6-319e-4a55-9bf4-b391015fe02e/transcript

A clear standout - as Labour rolls out a raft of proposed changes to our KiwiSaver scheme.

The party's promising to lift the employer contribution rate to six percent by 2032 - if elected. 

Labour would also introduce compulsory employer contributions, even when employees have paused or reduced their own share. 

Finance Spokesperson Barbara Edmonds shares the latest with Ryan Bridge. 

A clear standout - as Labour rolls out a raft of proposed changes to our KiwiSaver scheme.
The party's promising to lift the employer contribution rate to six percent by 2032 - if elected.&nbsp;
Labour would also introduce compulsory employer contributions, even when employees have paused or reduced their own share.&nbsp;
Finance Spokesperson Barbara Edmonds shares the latest with Ryan Bridge.&nbsp;

Barbara Edmonds: Labour Finance Spokesperson on its KiwiSaver policy

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d54fba6d-fa85-4cec-b138-b4c4012d74d7/transcript

On the Early Edition with Ryan Bridge Full Show Podcast 2026, Labour Finance Spokesperson Barbara Edmonds shares the details of Labour's KiwiSaver policy. 

Auckland Councillor shares his thoughts on the opening of the CRL and if we need to establish Auckland Transport Police to keep people safe. 

Business Correspondent Vicky Pryce has the latest on UK GDP, the European Central Bank raising rates and a look ahead to the UK rate decision. 

Plus, UK/ Europe Correspondent Gavin Grey has the latest on the UK national security adviser saying Europe must be ready to endure "real hardship" this winter if it is to keep up economic pressure on Russia and Reform UK receiving two £36m donations from British cryptocurrency billionaires. 

Get the Early Edition Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts.          

LISTEN ABOVE  

On the Early Edition with Ryan Bridge Full Show Podcast 2026, Labour Finance Spokesperson Barbara Edmonds shares the details of Labour's KiwiSaver policy.&nbsp;
Auckland Councillor shares his thoughts on the opening of the CRL and if we need to establish Auckland Transport Police to keep people safe.&nbsp;
Business Correspondent Vicky Pryce has the latest on UK GDP, the European Central Bank raising rates and a look ahead to the UK rate decision.&nbsp;
Plus, UK/ Europe Correspondent Gavin Grey has the latest on the UK national security adviser saying Europe must be ready to endure "real hardship" this winter if it is to keep up economic pressure on Russia and Reform UK receiving two £36m donations from British cryptocurrency billionaires.&nbsp;
Get the Early Edition Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
LISTEN ABOVE &nbsp;

Full Show Podcast: 14 September 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/df5ca341-66d4-494b-86d0-b4c4012ac0e2/transcript

There's a reason we talk a lot on this programme about bond markets, growth, central bank decisions and wars in far-away places.There was, and probably still is, a school of thought that people either don't want, or don't understand, financial markets, currencies and economics.I've always thought this was BS. It's why we focus on them a lot. They're important because they tell a story about where we've been and, more importantly, what's next.People aren't stupid. Most of the correspondence, emails and letters I get are from people far smarter than me.Though, that's not really saying much. More about me!This week we're getting GDP for Q2. It'll show we've gone sideways to slightly forwards, if you listen to the bank economists.Which is better than backwards, which is where they were picking we would go a few months ago.This is StatsNZ data and is, of course, itself backwards-looking.It'll show us where we've been.For a look at where we're going, we had the PMI, that's the manufacturing index out Friday.It was off slightly July-August, but still in expansion. And still above the long-term average.What's more, it tells us that forward orders are looking good.It bodes well for Q3.As always, there's a reason to talk about the numbers. Not just the ones we'll hear about this week.But the ones which give us clues about where we're heading next.

Ryan Bridge: The numbers that tell us where we're heading

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/076ca869-b249-42a9-b630-b4c4012bcebe/transcript

Shamubeel Eaqub: Simplicity Chief Economist on banks returning high profits with low levels of innovation

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