Quote Originally Posted by macduffy View Post
That's my pick, too, ynot. NZ has consistently provided around 20% of Aussie banks' profits from around 15% of their business.

As for NZ being too small for "so many banks", the opposite, not enough competition, is a more frequently heard comment.
. It is shameful that so much of NZ's banking business is overseas owned. All that residential property mortgage business providing profits for Australian shareholders! Those big Aussie owned banks were among the biggest beneficiaries of the debt-fuelled NZ preference for investing in housing/land as opposed to shares?

Disc: HGH shareholder