Govt wants to see better competition in banking sector | 9 December 2024 | RNZ

[@Go_Home_British_Raj]

Get rid of this corrupt Govt now

[@crazi25]

What didn't you like about this?

[@tanepukenga1421]

@@crazi25 It's the first steps to privatizing Kiwibank. It also opens the market up to being ripped off by letting anyone into banking. More than that, they've already spent nearly 60% of the budget for three years in one. Now this pie in the sky idea that Kiwibank will take on westpac? He's dreaming.

[@Go_Home_British_Raj]

@@crazi25 BDS Atlas Network and NACT scum

[@atishnarayan1921]

Heard the same so many times. It’s All Talks, No Action.

[@DrakeBuilders]

Imagine if 5million people had there own bank... average family $1.5million better off... #Justsaying

[@rodgygormin]

saying the quiet part out loud: a bank can turn 500 million into 15 billion. fractional reserve banking is disgraceful.

[@NZFarmboy80]

So can I

[@marksharman8029]

define competition.

[@Marzipan_Rocks]

I can see this as first steps for privatisation of Kiwibank… 🤦🏻‍♀️ Ram raids are down 60% because Labour brought in wrap around services for the child’s family, providing support they need makes not want to act out anymore.

[@annemackay-ib4gy]

Lol lol really ??????????????

[@tanepukenga1421]

@@annemackay-ib4gy Yes, really. As all the evidence was showing before the election. It's only your fault if you were gullible enough to take any political party at their word instead of looking into the subjects.

[@Marzipan_Rocks]

@ yes really. Luxon claims reduction under there watch but had not given any evidence of how it has been achieved. Chippy has. National have developed a habit of claiming to good they are not responsible for and denying the bad they are responsible for.

[@ManuelSnow-wq7ge]

Aussie banks just play playing Monopoly with us

[@crazi25]

Oligopoly

[@puhigeoffreywaynefuimaonok8656]

Awaroa Bank

[@Tokoa144]

I think this is a good move. The major Aussie owned banks have for too long had free reign to exploit Kiwis with exorbitant fees. It's a tough road for a smaller bank like Kiwibank but competition is a step in the right direction .

[@NZFarmboy80]

Those banks are around 60% owned by other banks in America and Europe

[@kaceeanderson6787]

Finally good news for us normal people

[@tanepukenga1421]

Its terrible news for a "normal" person. This means banks like BNZ and Westpac deciding they won't profit enough from a small nation and pulling up sticks. Like the ATM's you've seen disappearing. More than that, it's going to affect businesses massively in the short term. What's insane is there's almost no chance for it to work. A 20b bank just can't compete with a 300b one, especially when our property prices are as insane as they are.

[@Tony-q8c]

To Tangatawhenua of aotearoa want happens? When corporate lay down law to funds made for Maori just for profits to go out to shareholders