Barry Soper: Newstalk ZB senior political correspondent on New Zealand's banking sector making a profit amid economic downturn - Heather du Plessis-Allan Drive

Banks are hanging tough despite tough economic conditions. 

A KPMG report has found the sector's net profit for 2024 increased just 0.25 percent from the previous year.

Newstalk ZB senior political correspondent Barry Soper says this still adds up to $7.22 billion.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.