A Campbell Live bank caravan

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A Campbell Live bank caravan

3News NZ

The ANZ-National, Westpac, BNZ and ASB are all Australian-owned banks trading in New Zealand.

Those four made more than $14 billion profit in New Zealand between 2008 and 2011, and that's caused the Green Party to call for the Government to inject some money into Kiwi-owned banks so they can be more competitive.

But the bankers association has come back saying there's already a good deal of competition, and even as they're making profits the banks are paying taxes here.

Campbell Live decided to get the caravan out to find out what you think.

Are they greedily taking profit out of New Zealand, or are they offering competitive rates and service in a free market?

Watch the video.

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Comments

7/10/2012 11:15:17 p.m.

Dave wrote:

There are local banks now - if you don't like the huge profits then move to Kiwibank, TSB, SBS or Cooperative. Wonder how many of the Green MPs are with local banks...?

6/10/2012 7:26:00 p.m.

Doug wrote:

Any Kiwi could buy shares in the banks then the profit stays in NZ. Then we could stop moaning about Aussie Banks.

6/10/2012 11:06:17 a.m.

Mike wrote:

The Greens could have told us that the increase in profit of the banks is under 3%, and hasn't kept up with inflation!

The Greens could have told us Kiwibanks profit increased more than the overseas banks, so they must be profiteering!

The Greens are full of shit - what is new?