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.