The Prime Minister has taken aim at the chief executives of New Zealand’s largest banks saying it was 'utterly unacceptable' that some were withdrawing banking services from petrol stations and mines.

Chris Luxon joined Mike Hosking earlier today to explain that the banks needed to keep funding businesses Kiwis need to keep moving forward - and expressed concern at rural petrol stations in particular losing their funding.

Massey University banking expert Claire Matthews says the Government has the option to put regulations in place to reverse these changes - but warned this choices comes with consequences. 

"If the Government starts telling the banks what they have to do, then it's very much open to the banks to say - actually, it's too complicated, you're dictating too much what we can and can't do... the reality is, the New Zealand market is not that important to us, we're going to withdraw."

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

The Prime Minister has taken aim at the chief executives of New Zealand&rsquo;s largest banks saying it was 'utterly unacceptable' that some were withdrawing banking services from petrol stations and mines.
Chris Luxon joined Mike Hosking earlier today to explain that the banks needed to keep funding businesses Kiwis need to keep moving forward - and expressed concern at rural petrol stations in particular losing their funding.
Massey University banking expert Claire Matthews says the Government has the option to put regulations in place to reverse these changes - but warned this choices comes with consequences.&nbsp;
"If the Government starts telling the banks what they have to do, then it's very much open to the banks to say - actually, it's too complicated, you're dictating too much what we can and can't do... the reality is, the New Zealand market is not that important to us, we're going to withdraw."
LISTEN ABOVE
The podcasts in the&nbsp;SME&nbsp;Stream contain&nbsp;general information only, not financial&nbsp;or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.&nbsp;

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We're here to help you find a way with a curation of the &lsquo;best bits&rsquo; from top business podcasts. 
Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today.&nbsp;
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