Catherine McGrath: Westpac NZ CEO on the competitiveness of the banking sector, 10% increase in net profit
The Mike Hosking Breakfast · Newstalk ZB
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Show Notes
The boss of Westpac's New Zealand arm insists our banking market is competitive.
Westpac is reporting a 10% increase in net profit in New Zealand while being hit by "intense market competition" in Australia.
It comes as the bank bosses are being hauled before a banking inquiry at Parliament.
Catherine McGrath told Mike Hosking the bank is positioned to support Kiwis as the economy starts to grow.
She says as the smallest of the big four banks, Westpac believes any way to make competition easy is a good thing.
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