TMM - News

Record profit for banks, but mortgage rates could rise: KPMG

Wednesday 13th of February 2019

Banks reaped a record $5.77 billion after tax in 2018, driven by an improved net interest margin and asset growth. Despite the profit growth, KPMG warns banks will need to take action as the RBNZ capital proposals loom large.

John Kensington, head of banking and finance, KPMG New Zealand, says the capital rules pose the “biggest threat” to bank profitability, and predicts th...

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