Podcasts Other The Mike Hosking Breakfast Roger Beaumont: Banking Association CEO says sector welcomes CommComm study and stands by its practises

Roger Beaumont: Banking Association CEO says sector welcomes CommComm study and stands by its practises

Published: June 20, 2023, 8:08 p.m.

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Banks are standing by their right to make a profit ahead of a new Commerce Commission inquiry.

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The Government has ordered the commission to conduct a "market study" into the banking sector\'s fees and profits, with a report due back in August next year.

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Further details of the scope and timeline of the investigation will be released this afternoon.

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Banking Association Chief Executive Roger Beaumont told Mike Hosking the banking sector welcomes the study and stands by its practises.

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He says banks are enormous businesses, and there is nothing wrong with them making large profits.

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