Monopoly Watch's executive director believes customers are getting a raw deal from banks
Monopoly Watch's executive director believes customers are getting a raw deal from banks
22 March 2024
A draft Commerce Commission report's found a two-tier system divides smaller banks from ANZ, ASB, BNZ and Westpac.
It says the big four lack competition, have price matching strategies, and focus on profit margins -- stifling innovation and underinvesting in platforms.
Monopoly Watch's Tex Edwards says it can be a marathon to rework such market structures.
He says in other countries, government's have split up banking organisations.
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