The Commerce Commission says the banking sector lacks competition.
Its study has found a two-tier system with the four major banks having an apparent focus on maintaining profits, resulting in stable market shares, high profits, and an underinvestment in their platforms.
Herald Wellington Business Editor Jenee Tibshraeny told Kerre Woodham that the Commission says if we give a smaller bank, Kiwibank, more capital, it can grow.
She says the problem is the Government's trying to tighten its purse strings, so any money it gives Kiwibank will be questioned.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!