The Finance Minister has received early advice on how to better capitalise Kiwibank so it might compete better with the large Australian-owned banks.

The advice is in response to the Commerce Commission market study on personal banking.

Minister Nicola Willis says she hopes to bring more competition to the banking sector to improve things for Kiwi users.

"If you look over to Australia, they had a similar cosy oligopoly situation happening - Macquarie Bank played quite a disruptive role in that market, and the result was a better deal for everyday bank users."

LISTEN ABOVE

The Finance Minister has received early advice on how to better capitalise Kiwibank so it might compete better with the large Australian-owned banks.
The advice is in response to the Commerce Commission market study on personal banking.
Minister Nicola Willis says she hopes to bring more competition to the banking sector to improve things for Kiwi users.
"If you look over to Australia, they had a similar cosy oligopoly situation happening - Macquarie Bank played quite a disruptive role in that market, and the result was a better deal for everyday bank users."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Nicola Willis: Finance Minister on her plan to boost up Kiwibank so it can compete with the bigger banks

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e75016b1-53f3-4938-b725-b218005d8ccb/transcript

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