The general public’s suspicion of highly profitable, foreign-owned banks has led many to support the Reserve Bank’s plan to increase capital requirements.
In today’s business news – Smiths City reports a loss for its financial year, Abano Healthcare is reviewing its assets and over 65s now eligible for KiwiSaver.
The directors of collapsed insurance firm CBL have upped the ante on their campaign against the Reserve Bank for having their business liquidated, ahead of an independent report on the regulator’s actions.