TMM - News

Banks told to cut mortgage commissions to cover levy

Tuesday 23rd of May 2017

This year's Australian Budget imposed a 0.06 of a percentage point annual levy on the liabilities of the country's five biggest banks.

This would pull in about A$1.5 billion (NZ$1.6b), analysts said, or 5% of the combined group profits of the banks.

That has prompted warnings that consumers, including those in New Zealand, could see their banking costs increase. Goldman Sachs said...

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