That quote from NZBA CEO Roger Beaumont is eye popping.
"Last year banks made a net profit of $7.18 billion. They also spent $9.1 billion running their businesses and paying tax here. That’s a net positive contribution of $1.92 billion"
That quote from NZBA CEO Roger Beaumont is eye popping.
"Last year banks made a net profit of $7.18 billion. They also spent $9.1 billion running their businesses and paying tax here. That’s a net positive contribution of $1.92 billion"
It’s worse that that if their costs and tax amounted to $9.1m but they made a profit on top of costs of $7.2m then they earned $16.3m revenue, so contribution much higher than $1.92m. Maybe a more interesting figure is how much they paid in dividends to offshore shareholders? So the charge sheet is:
1) Overcharging NZ customers.
2) Not supporting NZ businesses.
3) Actively supporting an overvalued housing market.
4) Sending money offshore.
I am sure Diddy David will be insisting on increased sentencing for bankers found guilty of other crimes?
I just realised that can be interpreted either way.
I dislike the big 4 banks in NZ overcharging NZ customers, and not supporting NZ businesses, and actively supporting an overvalued housing market, andsending money offshore.
That quote from NZBA CEO Roger Beaumont is eye popping.
"Last year banks made a net profit of $7.18 billion. They also spent $9.1 billion running their businesses and paying tax here. That’s a net positive contribution of $1.92 billion"
What an incredible return!
It’s worse that that if their costs and tax amounted to $9.1m but they made a profit on top of costs of $7.2m then they earned $16.3m revenue, so contribution much higher than $1.92m. Maybe a more interesting figure is how much they paid in dividends to offshore shareholders? So the charge sheet is:
1) Overcharging NZ customers.
2) Not supporting NZ businesses.
3) Actively supporting an overvalued housing market.
4) Sending money offshore.
I am sure Diddy David will be insisting on increased sentencing for bankers found guilty of other crimes?
I like your 4 charge sheet items.
I just realised that can be interpreted either way.
I dislike the big 4 banks in NZ overcharging NZ customers, and not supporting NZ businesses, and actively supporting an overvalued housing market, andsending money offshore.