The Banking Association says there is indeed competition in the market.  

A draft report from the Commerce Commission has found a two-tier system divides smaller banks from ANZ, ASB, BNZ, and Westpac, as well as a lack of competition. 

It says an apparent focus on profit margins has resulted in under-investment in platforms and low innovation. 

It recommends the Government improve capital for Kiwibank and smaller banks.  

Banking Association Chief Executive Roger Beaumont told Mike Hosking that the commission also recognised the impact of industry regulation.  

He says the regulation banks have been required to do is off the charts and has been a handbrake on innovation. 

LISTEN ABOVE

The Banking Association says there is indeed competition in the market.  
A draft report from the Commerce Commission has found a two-tier system divides smaller banks from ANZ, ASB, BNZ, and Westpac, as well as a lack of competition. 
It says an apparent focus on profit margins has resulted in under-investment in platforms and low innovation. 
It recommends the Government improve capital for Kiwibank and smaller banks.  
Banking Association Chief Executive Roger Beaumont told Mike Hosking that the commission also recognised the impact of industry regulation.  
He says the regulation banks have been required to do is off the charts and has been a handbrake on innovation. 
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...