Banking profits up 13.6 percent
Wed, 27 Feb 2013 9:53a.m.
New Zealand banking sector profits rose 13.6 percent in the year to September 2012, according to a survey by KPMG.
Head of financial services John Kensington says it might sound like a lot, but it's not excessive.
He says it's quite fortunate New Zealand's banks didn't indulge in the kinds of practises overseas that led directly to the financial crisis, and a strong banking sector is good for the country.
Watch the video for the full interview.
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28/02/2013 3:10:33 a.m.
They make their money from housing speculation - hence why governments here and Australia have little desire to take these folk on as high house prices create an illusion of success. They will make even more money by moving jobs to India - something which is due to ramp up from this year.
Bring back TrustBank!
27/02/2013 11:07:28 a.m.
If this doesnt convince everyone that nzers are cows n sheep to be milked n fleeced, what will?
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