Banking expert: Why NZ’s banks are so profitable | Q+A 2023
ฝัง
- เผยแพร่เมื่อ 3 มิ.ย. 2024
- Massey University banking expert associate professor Claire Matthews discusses the profitability of the sector, and the possibility of some form of inquiry into the banking sector
Subscribe to Q+A: bit.ly/QandASubscribe
Join Jack Tame and the Q+A team and find the answers to the questions that matter. Made with the support of NZ on Air.
WATCH SUNDAY 9AM ON TVNZ1 OR CATCH UP ON DEMAND: www.tvnz.co.nz/shows/q-and-a/
FOLLOW Q+A ON SOCIAL MEDIA
Facebook: / nzqanda
Twitter: / nzqanda
For stories that matter to you and the very latest from Aotearoa and around the world: 1News.co.nz/
I thought Kiwibank was set up by the government. But oddly enough the government uses Westpac. Also shouldn’t the government make Kiwibank more competitive and more attractive than the Australian banks to offer some of this competition. Number portability doesn’t offer any benefit, it has a lot of cost and complexities to banking, it is easier to just open an account and then transfer your funds out.
Open banking let’s you move your bank account number & direct debits & other metadata.
For a lot of kiwis, re-setting up all those payments makes moving banks very changeling.
Kiwibank was set up with a software stack designed for a savings bank or building society.
It’s software stack wasn’t ideal for a full commercial bank which is what the other big 4 are.
Kiwibank is investing in a brand new IT system to bring their capability up to and exceeding that of the other big 4.
To become the govts main commercial bank, kiwibank would need a larger capital base.
That could happen after the IT upgrade.
Kiwibank holdings now being directly owned by the treasury would make it simple for treasury to increase Kiwibank’s T1 capital.
Bank deposits need far more government guarantees.
This 100k cutoff is really unfair to savers who could be saving up for a home in the current ridiculous environment.
Or
Could simply be someone who at the wrong time sold a home and is in the process of finding a new one.
Why should a bank deposit be at this level of risk?
The upside is taken by the bank in profits and bonuses for the executive suite.
That is good thought ! How do banks contribute to NZs wealth.
Select committee hearings don’t get anything done other than let simion brown get off his talking points
I was listening to a number of videos about banking. They made the point that banks create currency which not backed by anything. So they charge interest for money that does not exist. It also talked about this process increases the money supply and fuels property price increases. It used examples in the UK.
You're not reading or listening clearly....banks don't create currency...stupid people do when they crave for something that is not as valuable as they think.
PORTABILITY WILL CREATE MORE BANK RUNS...BAD IDEA!
😂
Nz's taxed by australian corporations and we dont get a say in it/govt in nz is too weak... Wealth export and our govt is in on it...it's not a accident. Seriously how did this happen? Nz lost its sovereignty a long time ago 😔