Antonia Watson: ANZ CEO disagrees with the Commerce Commission's report saying the banking sector isn't competitive

The Mike Hosking Breakfast

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2M ago 5:44

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ANZ's chief executive believes New Zealand's banking system is competitive.

The Commerce Commission's market study found there's little competition between the big four banks, and they take high profits by international standards.

It recommends open banking and giving Kiwibank access to more capital, to better compete and become a disruptor.

Antonia Watson told Mike Hosking they don't agree with the ComCom's characterisation of the sector.

She says their staff are fighting every day to win and retain customers, so back themselves that it's a competitive industry.

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