Bank profits slump in March quarter; late payments rise: KPMG
Latest financial institutions performance survey shows net profit falling 13% to $1.54b in the March quarter.
KPMG banking head and partner John Kensington speaks with Jonathan Mitchell.
New Zealand banks have reported a slump in net profit in the March quarter, a sign that higher interest rates and inflation are cooling the economy.
KPMG's Financial Institutions Performance Survey shows net profit falling 13%, from $1.77 billion in the December quarter to $1.54b in the March
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